Dropbox reported Q2 revenue of $339.2 million, an increase of 27% from the same period last year. GAAP gross margin was 73.6%, as compared to 65.4% in the same period last year. Non-GAAP gross margin was 74.5%, as compared to 66.7% in the same period last year. GAAP net loss was ($4.1) million, as compared to ($26.8) million in the same period last year. Non-GAAP net income was $48.0 million, as compared to $20.0 million in the same period last year.
- Paying users totaled 11.9 million, as compared to 9.9 million for the same period last year.
- Average revenue per paying user was $116.66, as compared to $111.19 for the same period last year.
- Dropbox also announced that Dennis Woodside, chief operating officer, is stepping down.
“We delivered another solid quarter of revenue growth in Q2, reflecting the strength of our unique business model,” said Dropbox Co-Founder and Chief Executive Officer Drew Houston. “We added over a dozen new product features to our user and admin experiences, and strengthened our infrastructure, all while driving a 30% free cash flow margin.