Dropbox's Q1 revenue down by 1% to $624.7M
Dropbox Inc. announced on Thursday that its revenue for the first quarter of the 2025 fiscal year decreased by 1%, landing at $624.7 million, compared to the same period a year prior.
The company reported that its net income jumped by 13.6% to $150.3 million on a yearly basis, while its diluted earnings per share surged 30.7%, standing at $0.51. Moreover, the number of paying users was unchanged at 18.16 million for the first trimester, as average revenue per paying user was $139.26.
"We've had a productive start to the year improving the Dash user experience and making targeted investments to simplify and strengthen our core FSS product. While the macro environment remains fluid, we're focused on refining our execution and increasing our operating efficiency as we continue to capitalize on the Dash opportunity and create value for shareholders," Dropbox Co-Founder and Chief Executive Officer Drew Houston said.
Dropbox's shares saw a 1.48% dip during the after-hours trading after the release of the report.