Dropbox (DBX) FY2022 results: revenue $2.3 billion, up 7.7% on the year
Dropbox, Inc. (DBX) reported revenue of $2.3 billion for fiscal 2022, the year ended 31 December 2022, up 7.7% on the year before. Net income was $553 million, up 64.7%, and diluted earnings per share $1.52. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2023.
Revenue
$2.3 billion
+7.7% on the year
FY2016FY2022
Operating margin
7.8%
12.7% a year earlier
FY2016FY2022
Net income
$553 million
+64.7% on the year
FY2016FY2022
Diluted EPS
$1.52
+78.8% on the year
FY2016FY2022
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2022
FY2021
FY2020
On the year
Last 8 years
Operating cash flow
797
730
571
+9.2%
Capital expenditure
33.8
22.1
80.1
+52.9%
Free cash flow
764
708
491
+7.9%
Free cash flow margin
32.8%
32.8%
25.6%
Cash from investing
-48.5
-525
-234
Cash from financing
-1,042
16.2
-578
Depreciation and amortisation
157
151
159
+3.9%
Share-based compensation
331
287
262
+15.2%
Buybacks
795
1,058
398
-24.9%
Diluted shares, weighted
363m
396m
414m
-8.2%
Balance sheet
$ million
FY2022
FY2021
FY2020
On the year
Last 8 years
Shareholders' equity
-309
-294
334
Debt
1,374
1,370
0.0
+0.3%
Operating lease liabilities
585
632
760
-7.4%
Finance lease liabilities
152
168
172
-9.5%
Other liabilities
1,309
1,215
1,122
+7.7%
Total liabilities and equity
3,110
3,091
2,387
+0.6%
Fixed assets
308
322
339
-4.2%
Goodwill
403
357
237
+13.1%
Intangible assets
88.3
53.6
33.5
+64.7%
Investments
1,111
1,185
806
-6.3%
Cash and equivalents
233
533
315
-56.3%
Receivables
53.8
49.6
43.4
+8.5%
Other assets
913
591
613
+54.4%
Total assets
3,110
3,091
2,387
+0.6%
10-K for the year ended 31 December 2022, filed 23 February 2023: the filing.