Fri, Feb 21, 9:10 PM (23 days ago)
**Dropbox, Inc. (DBX) 2024 10-K Summary** For the fiscal year ending December 31, 2024, Dropbox reported revenues of $2,548.2 million, a modest increase of 1.9% compared to $2,501.6 million in 2023. Net income remained stable at $452.3 million, with earnings per share at $1.42, reflecting a consistent profitability trend. Operating expenses rose slightly to $1,616.9 million, driven by R&D and marketing investments, but were offset by a reduction in cost of revenue to $445.1 million, improving gross margin to 83%. The company maintained a robust cash position with $1.3 billion in cash and equivalents, alongside $265.9 million in short-term investments. A significant strategic decision included a 20% reduction in workforce to streamline operations, incurring $47.2 million in related costs. Dropbox faces competitive pressures in a rapidly evolving market, with a focus on enhancing its AI capabilities and expanding user base. Risks include potential cybersecurity incidents and macroeconomic factors affecting user spending. The company is positioned for growth but anticipates challenges in maintaining its growth trajectory amidst these dynamics. Overall, Dropbox's financial health appears stable, with strategic adjustments aimed at future profitability.