← DROPBOX, INC.
| Annual Trend | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Net income | ($111.7m) |
($484.9m)
-334.11%
|
($52.7m)
+89.13%
|
($256.3m)
-386.34%
|
$335.8m
+231.02%
|
$553.2m
+64.74%
|
$453.6m
-18.00%
|
$452.3m
-0.29%
|
$508.4m
+12.40%
|
$442.8m
-12.90%
|
|
| Depreciation and amortization | $181.8m | $166.8m | $173.5m | $159.3m | $151.4m | $157.1m | $170.0m | $137.3m | $157.4m | $155.8m | |
| Amortization of debt issuance costs | — | — | $600k | $600k | $3.8m | $4.2m | $4.2m | $4.6m | $10.0m | — | |
| Amortization of deferred commissions | $6.6m | $12.1m | $17.5m | $24.4m | $32.3m | $39.5m | $38.6m | $30.3m | $25.9m | — | |
| Deferred taxes | — | — | — | ($2.5m) | ($37.5m) | ($396.3m) | $38.4m | ($5.4m) | $51.7m | — | |
| Stock-based compensation | $164.6m | $650.1m | $261.2m | $261.5m | $287.1m | $330.7m | $338.0m | $346.5m | $300.8m | $304.4m | |
| Net (gain) loss on equity investments | — | $0 | $0 | ($17.5m) | $0 | ($5.0m) | $0 | $200k | ($700k) | — | |
| Proceeds from sales of equity investments | — | — | — | $26.4m | $0 | $10.6m | $0 | $0 | $1.7m | — | |
| Trade and other receivables, net | ($14.4m) | $100k | ($7.5m) | ($5.5m) | ($6.2m) | ($5.5m) | ($14.5m) | ($2.4m) | ($6.7m) | — | |
| Accounts payable | $16.2m | ($1.7m) | $6.4m | ($19.9m) | $7.6m | $13.0m | $1.2m | ($4.5m) | ($12.6m) | $2.0m | |
| Accrued and other current liabilities | $34.0m | $40.3m | $23.0m | ($9.8m) | ($34.6m) | $4.7m | ($20.8m) | ($24.7m) | ($29.4m) | — | |
| Accrued compensation and benefits | $14.4m | $25.0m | $19.1m | $11.7m | $23.5m | ($6.8m) | ($22.6m) | ($4.1m) | $5.9m | — | |
| Deferred revenue | $64.3m | $66.4m | $68.7m | $55.1m | $59.8m | $25.6m | $21.6m | $1.5m | $2.0m | — | |
| Other | ($8.8m) | ($6.5m) | ($600k) | ($800k) | $0 | $0 | $23.9m | $31.2m | $2.8m | — | |
| Prepaid expenses and other current assets | ($18.2m) | ($47.9m) | ($18.2m) | ($39.4m) | ($58.4m) | ($50.0m) | ($41.1m) | ($5.4m) | ($26.2m) | — | |
| Other assets | ($10.6m) | ($11.2m) | $61.2m | $62.0m | $50.5m | ($9.7m) | $23.3m | $6.4m | $6.9m | — | |
| Restricted cash, current, included in prepaid expenses and other current assets | — | — | — | — | — | $0 | $0 | $1.1m | $0 | — | |
| Restricted cash, non-current, included in other assets | — | — | — | — | — | $0 | $0 | $31.1m | $14.6m | — | |
| Net cash provided by operating activities | $330.3m |
$425.4m
+28.79%
|
$528.5m
+24.24%
|
$570.8m
+8.00%
|
$729.8m
+27.86%
|
$797.3m
+9.25%
|
$783.7m
-1.71%
|
$894.1m
+14.09%
|
$951.8m
+6.45%
|
$980.5m
+3.02%
|
|
| Capital expenditures | ($25.3m) | ($63.0m) | ($136.1m) | ($80.1m) | ($22.1m) | ($33.8m) | ($24.3m) | ($22.5m) | ($21.0m) | ($26.7m) | |
| Cash receipts from equipment rebates | — | — | — | — | — | — | $24.8m | $32.3m | $17.1m | — | |
| Property and equipment acquired under finance leases | $44.9m | $98.5m | $144.1m | $145.8m | $127.3m | $105.8m | $144.7m | $171.6m | $147.3m | — | |
| Purchases of short-term investments | $0 | ($850.4m) | ($775.4m) | ($756.1m) | ($1.1b) | ($571.2m) | ($208.7m) | ($62.3m) | $0 | — | |
| Proceeds from sales of short-term investments | $0 | $212.4m | $294.8m | $386.7m | $448.7m | $213.7m | $352.4m | $241.7m | $0 | — | |
| Proceeds from maturities of short-term investments | $0 | $71.2m | $456.1m | $198.8m | $293.6m | $389.1m | $252.2m | $313.7m | $124.8m | — | |
| Net cash provided by investing activities | ($23.9m) | ($633.8m) | ($320.0m) | ($233.6m) | ($524.8m) | ($48.5m) | $395.2m | $443.8m | $111.9m | $149.8m | |
| Payments of debt issuance costs and loan commitment fees | — | — | $0 | $0 | ($23.7m) | $0 | ($100k) | ($50.1m) | ($21.6m) | — | |
| Proceeds from issuance of common stock, net of taxes withheld | $500k | $26.2m | $2.2m | $2.3m | $6.9m | $500k | $2.5m | $900k | $100k | $0 | |
| Common stock repurchases | — | $0 | $0 | ($397.5m) | ($1.1b) | ($795.4m) | ($539.9m) | ($1.2b) | ($1.7b) | — | |
| Payments for taxes related to net share settlement of restricted stock units and awards | ($87.9m) | ($351.9m) | ($85.4m) | ($92.2m) | ($124.8m) | ($119.4m) | ($135.1m) | ($148.7m) | ($151.0m) | — | |
| Net cash used in financing activities | ($231.7m) |
$300.8m
+229.82%
|
($176.7m)
-158.74%
|
($577.7m)
-226.94%
|
$16.2m
+102.80%
|
($1.0b)
-6530.86%
|
($799.2m)
+23.29%
|
($586.6m)
+26.60%
|
($1.5b)
-160.94%
|
($828.2m)
+45.89%
|
|
| Cash, cash equivalents, and restricted cash - beginning of period | $430.0m | $519.3m | $551.3m | $314.9m | $533.0m | $232.8m | $614.9m | $1.4b | $905.9m | — | |
| Effect of exchange rate changes on cash, cash equivalents, and restricted cash | $2.6m | ($3.1m) | $200k | $4.1m | ($3.1m) | ($7.2m) | $2.4m | ($5.7m) | $12.4m | ($2.9m) | |
| Change in cash, cash equivalents, and restricted cash | $77.3m | $89.3m | $32.0m | ($236.4m) | $218.1m | ($300.2m) | $382.1m | $745.6m | ($454.6m) | — | |
| Additional Supplementary Disclosures | |||||||||||
| Additional Supplementary Disclosures | |||||||||||
| Net (gain) loss on real estate assets | — | — | — | — | $17.7m | $175.2m | ($155.2m) | $100k | ($1.3m) | — | |
| Non-cash operating lease expense | $330.3m | $425.4m | $528.5m | $81.1m | $76.3m | $63.8m | $43.5m | $35.9m | $37.6m | $980.5m | |
| Other non-current liabilities | ($4.4m) | $12.2m | ($62.4m) | ($72.9m) | ($109.2m) | ($17.9m) | ($1.5m) | ($6.4m) | $10.1m | — | |
| Operating lease liabilities | — | — | — | ($77.4m) | ($102.1m) | ($86.4m) | ($65.4m) | ($57.0m) | ($40.8m) | — | |
| Tenant improvement allowance reimbursement | $0 | $0 | $55.3m | $22.5m | $5.1m | $8.7m | $1.1m | $0 | $0 | — | |
| Cash paid for lease termination | — | — | $0 | $0 | ($32.0m) | $0 | ($28.1m) | ($14.9m) | ($36.0m) | — | |
| Purchase of intangible assets | ($800k) | ($3.0m) | ($1.7m) | ($200k) | ($6.8m) | ($1.1m) | ($300k) | ($200k) | ($400k) | — | |
| Business combinations, net of cash acquired | $0 | $0 | ($173.9m) | $0 | ($140.0m) | ($75.4m) | $0 | ($57.8m) | ($13.1m) | — | |
| Proceeds from term loan facility | — | — | — | — | — | $0 | $0 | $1.0b | $500.0m | — | |
| Principal payments against term loan facility | — | — | — | — | — | — | $0 | $0 | ($11.6m) | — | |
| Principal payments on finance lease obligations | — | ($109.1m) | ($92.9m) | ($89.5m) | ($110.4m) | ($127.5m) | ($126.6m) | ($129.4m) | ($128.6m) | — | |
| Payment of acquisition-related indemnification holdback | — | — | — | — | — | $0 | $0 | ($17.7m) | ($4.1m) | — | |
| Cash and cash equivalents | $430.0m | $519.3m | — | — | — | $232.8m | $614.9m | $1.3b | $891.3m | $769.2m | |
| Interest | $10.8m | $8.3m | $9.8m | $9.6m | $8.5m | $8.2m | $10.5m | $15.2m | $105.9m | $105.9m | |
| Income taxes | $3.4m | $1.4m | $600k | $5.0m | $4.2m | $27.6m | $68.2m | $61.0m | $56.9m | — |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.