Dropbox (DBX) FY2024 results: revenue $2.5 billion, up 1.9% on the year
Dropbox, Inc. (DBX) reported revenue of $2.5 billion for fiscal 2024, the year ended 31 December 2024, up 1.9% on the year before. Net income was $452 million, down 0.3%, and diluted earnings per share $1.40. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2025.
Revenue
$2.5 billion
+1.9% on the year
FY2017FY2024
Operating margin
19.1%
21.5% a year earlier
FY2017FY2024
Net income
$452 million
-0.3% on the year
FY2017FY2024
Diluted EPS
$1.40
+6.9% on the year
FY2017FY2024
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
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
894
784
797
+14.1%
Capital expenditure
22.5
24.3
33.8
-7.4%
Free cash flow
872
759
764
+14.8%
Free cash flow margin
34.2%
30.4%
32.8%
Cash from investing
444
395
-48.5
+12.3%
Cash from financing
-587
-799
-1,042
Depreciation and amortisation
137
170
157
-19.4%
Share-based compensation
346
338
331
+2.5%
Buybacks
1,242
540
795
+130.0%
Diluted shares, weighted
323m
346m
363m
-6.4%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
-752
-166
-309
Debt
2,354
1,378
1,374
+70.9%
Operating lease liabilities
250
311
585
-19.4%
Finance lease liabilities
204
168
152
+20.8%
Other liabilities
1,269
1,292
1,309
-1.8%
Total liabilities and equity
3,325
2,984
3,110
+11.5%
Fixed assets
359
309
308
+16.0%
Goodwill
443
402
403
+10.1%
Intangible assets
54.9
58.1
88.3
-5.5%
Investments
266
741
1,111
-64.1%
Cash and equivalents
1,328
615
233
+116.0%
Receivables
70.4
68.7
53.8
+2.5%
Other assets
804
789
913
+1.9%
Total assets
3,325
2,984
3,110
+11.5%
10-K for the year ended 31 December 2024, filed 21 February 2025: the filing.