These included reducing the entire workforce by 11%, hiring from lower-cost locations thanks to its virtual-first work approach, subleasing the company's vacant offices, and migrating its data centers to lower-cost areas. Over the last 12 months, Dropbox has taken several steps to minimize costs. Fast forward six months, and Dropbox is already delivering 32% operating margins - a sizable increase from 20.6% a year ago.īefore analyzing the possible areas to reinvest these additional profits, it's worth understanding how Dropbox actually got into this advantageous position to begin with. Image source: Getty Images Why is Dropbox generating so much cash?Īt the end of the latest fiscal year, Dropbox management shared the company's financial goals of reaching a non- GAAP operating margin of 28% to 30% while generating $1 billion in free cash flow annually by 2024.
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