Non-GAAP operating margin was 29.9%, as compared to 29.7% in the same period last year. ![]() In the fourth quarter of 2021, the Company recorded impairment charges related to real estate assets of $14.0 million. In the fourth quarter of 2022, the Company recorded impairment charges related to real estate assets of $162.5 million as a result of adverse changes in the corporate real estate market in the San Francisco Bay area, which has impacted its subleasing strategy in conjunction with its shift to Virtual First. GAAP operating margin was (13.4%), as compared to 12.4% in the same period last year. Non-GAAP gross margin was 82.0%, as compared to 80.9% in the same period last year. GAAP gross margin was 80.7%, as compared to 79.5% in the same period last year. Average revenue per paying user was $134.53, as compared to $134.78 for the same period last year. Paying users ended at 17.77 million, as compared to 16.79 million for the same period last year. On a constant currency basis, year-over-year growth would have been 11.8%. Total ARR ended at $2.514 billion, an increase of $82.8 million quarter-over-quarter and an increase of 11.2% year-over-year. On a constant currency basis, year-over-year growth would have been 9.2%. Total revenue was $598.8 million, an increase of 5.9% from the same period last year. Looking ahead to 2023, we remain focused on executing against our strategic objectives, improving our operational efficiency, and continuing to leverage advancements in AI and ML into our product roadmap as we work towards our mission of designing a more enlightened way of working." "We increased our profitability and free cash flow and continued to use M&A as an engine for growth, welcoming FormSwift to Dropbox. "2022 was a solid year for Dropbox amidst a challenging macroeconomic environment,” 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, 2022. ![]() Net Cash Provided by Operating Activities of $797.3 Million and Free Cash Flow of $763.5 Million Net Cash Provided by Operating Activities of $194.6 Million and Free Cash Flow of $181.7 Millionįiscal 2022 Revenue of $2.325 Billion, up 7.7% year-over-year on a constant currency basis, up 9.4% year-over-year ![]() Fourth Quarter Revenue of $598.8 Million, up 5.9% year-over-year on a constant currency basis, up 9.2% year-over-year
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