DBX - Dropbox reports Q1 beats

Dropbox (DBX) reports upside Q1 results with revenue up 12% on the year to $511.6M and EPS of $0.35, five cents above estimates.Net cash from operating activities totaled $115.7M with FCF of $108.8M.Total ARR was up 13% to $2.112B.Paying users were up from 14.59M to 15.83M. ARPU improved from $126.30 to $132.55.Non-GAAP gross margin increased from 78.3% in last year's quarter to 80.2%. Operating margin improved from 16.1% to 29.1%.“We kicked off the year with a profitable Q1, along with strong revenue growth and free cash flow,” says Dropbox Co-Founder and Chief Executive Officer Drew Houston. “We welcomed DocSend to the team, saw great momentum with HelloSign, and continued to make meaningful progress against our 2021 priorities. In this new era of distributed work, we have a big opportunity to deliver more value to our customers and shareholders, and I’m excited for what’s ahead.”Press release.

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Dropbox reports Q1 beats