Houston said that Dropbox is focused on executing against four strategic pillars, which include:

Non-GAAP gross margin was 82.0%, as compared to 80.9% in the same period last year. GAAP gross margin was 80.7%, as compared to 79.5% in the same period last year. Average revenue per paying user was $134.53, as compared to $134.78 for the same period last year. Paying users ended at 17.77 million, as compared to 16.79 million for the same period last year. On a constant currency basis, year-over-year growth would have been 11.8%. Total ARR ended at $2.514 billion, an increase of $82.8 million quarter-over-quarter and an increase of 11.2% year-over-year. On a constant currency basis, year-over-year growth would have been 9.2%. Total revenue was $598.8 million, an increase of 5.9% from the same period last year. The key numbers released this week include: We once again increased profitability and free cash flow, and repurchased nearly $800 million of our stock. We ended the year with over $2.5 billion in ARR. While 2022 saw a more challenging macroeconomic backdrop, and we saw some elevated headwinds in Q4, I'm pleased with how our business performed for the year. However, the overall performance was still positive. The company’s analyst call this week felt like a lesson in managing expectations, as Co-Founder and CEO Drew Houston highlighted a number of challenges that will persist across the buyer environment in 2023. Whilst on the other, Dropbox is also seeing hesitation amongst its customer base and it had to suffer a significant real estate loss, as it too moves away from office-based work. On the one hand the company delivered consistent growth, as buyers continue to shift to distributed cloud-based work. Dropbox has this week released its Q4 and full year earnings report, which highlights the mixed environment within which enterprise technology vendors are operating at the moment.

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