Dropbox is the world’s first smart workspace that helps people and teams focus on the work that matters. With more than 600 million registered users across 180 countries, the company is on a mission to design a more enlightened way of working.
Dropbox, Inc. (NASDAQ: DBX) reported financial results for the fourth quarter and year ended December 31st, 2019. For the fourth quarter total revenue amounted to USD 446 Million, a 19% increase compared to the same period las year. Paying users were logged at 14.3 million compared to 12.7 million a year ago. Net cash on operating activities reached USD 186.8 Million compared to USD 123.7 Million a year ago.
“Our strong Q4 marked the end of an exciting year for Dropbox as we launched our vision for the smart workspace,” said Dropbox Co-founder and Chief Executive Officer Drew Houston. “We closed the year with more than $1.6 billion in revenue, over 450,000 Dropbox business teams, and millions of people using our new foreground app that keeps Dropbox at the center of our users’ workflows. Moving into 2020, I’m confident in the team we have on board and the opportunity ahead.”
For full year fiscal 2019, total revenue amounted to USD 1.661 Billion, a 19% rise year over year. Net cash on operating activities reached USD 528.5 Million. Average revenue per paying user amounted to USD 123.07 compare to USD 117.64 a year ago.
The board of directors authorized the company to repurchase USD 600 Million of Class A shares on February 19th, 2020. The share purchase is expected to be executed through open market purchases or privately negotiated transactions.