Dropbox posts first quarterly report, posts huge loss

Posted 11 May 2018 17:27 CET by Jan Willem Aldershoff

The number of paid subscribers to online cloud storage service Dropbox increased with 2.2 million the last year. The American company now serves 11.5 million paying customers, according to the first quarterly report of Dropbox since its IPO in March this year.

A year ago, Dropbox had 9.3 million paid subscribers, the addition of 2.2 million new users means the company’s paying user base grew with nearly 24%. After the company’s IPO in March, the company is now obliged to file a quarterly report with subscriber numbers and information about the financial health of the company. The documents Dropbox filed before the IPO, reported a paid subscriber count of more than 11 million, but exact numbers were not known yet.

Dropbox’s revenue also increased in the first quarter. The company reports an increase in revenue in the first quarter of about $316 million, which is about 28% more than a year before, according to Dropbox. That means Dropbox earned a revenue of about $247 million in the first quarter of 2017.

Despite that, the cloud storage service posted a loss of $465.5 million, mainly caused by IPO related costs. A year ago the company reported a loss of $33.1 million

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