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GAAP operating margin was (68.8%), as compared to (1.5%) in the same period last year due to non-recurring impairment charges in the fourth quarter of 2020. Non-GAAP gross margin was 80.1%, as compared to 77.6% in the same period last year. GAAP gross margin was 79.0%, as compared to 76.5% in the same period last year. Average revenue per paying user was $130.17, as compared to $125.00 for the same period last year. Paying users ended at 15.48 million, as compared to 14.31 million for the same period last year. On a constant currency basis, year-over-year growth would have been 12%. Total ARR ended at $2.022 billion, an increase of $41.2 million quarter-over-quarter and an increase of 11% year-over-year. On a constant currency basis, year-over-year growth would have been 13%. Total revenue was $504.1 million, an increase of 13% from the same period last year. Going into 2021, we’re focused on executing against our strategy and building essential products for the new era of distributed work.”

#BUDGET CALENDAR AND DROPBOX FREE#

“We ended the year with strong margin expansion, free cash flow, and more than $2B in ARR as we continued to make progress toward our long-term financial targets.

“2020 was a transformational year for Dropbox and I’m proud of the team for their resilience and focus in addressing our customers’ evolving needs,” said Dropbox Co-founder and Chief Executive Officer Drew Houston. (NASDAQ: DBX), today announced financial results for its fourth quarter and fiscal year ended December 31, 2020. Net Cash Provided by Operating Activities of $570.8 Million and Free Cash Flow of $490.7 Million Surpasses $2 Billion in Total Annual Recurring Revenueįiscal 2020 Revenue of $1.914 Billion, Up 15% Year-over-year Net Cash Provided by Operating Activities of $170.7 Million and Free Cash Flow of $158.4 Million Fourth Quarter Revenue of $504.1 Million, Up 13% Year-over-year

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