Dropbox, Inc.

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SKU: DBX Category:

Description

This is our first report on Dropbox, a major player within the cloud storage, file transfer, and e-signature domain. Despite operating in a highly competitive landscape the company has continued to perform reasonably well since the start of 2022 reflecting the resilience of the business of Dropbox. The company has seen solid growth in its professional plans and teams and continued strength from DocSend. Dropbox is continuing to evolve its core FSS business to drive monetization and improve attention. Moreover, it is expanding into workflows across pass-around documents with DocSend and HelloFax and rich media content for better serving freelancers and creators. The management has spent $165 on acquiring DocSend this quarter. In this quarter, Dropbox has remained focused on operational excellence and has continued to balance profitability and growth. Because of improvements in the user experience, the churn rate is seen to come down. The company has also driven meaningful enhancement in loading performance with previews, which is a traffic service. It has also made progress in its basic user monetization efforts over conversation through its mobile channel. This quarter, Dropbox has launched its newest version of Dropbox backup that has upgraded management settings and restoration flow. We initiate coverage on the stock of Dropbox with an ‘Outperform’ rating.

Our Report Structure:

⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures

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