We've made decisions about our own workforce, adopting what we're calling a virtual-first way of working, combining the best of both fully remote and in-person collaboration. While many companies are still adjusting to this shift and grappling with such decisions about hybrid, flexible or remote work, one thing is clear, the traditional way of working has changed forever. It was certainly a challenging time, and I'm proud of the way our team showed up and supported our customers. Around this time last year, we, along with many of our customers, were managing through an unprecedented global pandemic and a sudden shift to distributor work.
#Dropbox inc update#
Tim will then review our Q1 financial results, provide guidance for the second quarter, and update our outlook for the remainder of the year.Īnd before we get to our results, I'd like to thank our employees, customers, and partners for their support and their contributions to a very successful quarter. Today, I'll share our business and product highlights from the quarter.
On the call with me is Tim Regan, our chief financial officer. Good afternoon, everyone, and welcome to our Q1 2021 earnings call. *Stock Advisor returns as of February 24, 2021Ī reconciliation of GAAP to non-GAAP results may be found in our earnings, which was furnished with our Form 8-K filed today with the SEC and may also be found in the supplemental investor materials posted on our Investor Relations website at Additional information regarding the exchange rate assumptions used in our guidance may also be found in our supplemental investor materials.I would now like to turn the call over to Dropbox's co-founder and chief executive officer, Drew Houston.ĭrew Houston - Co-Founder and Chief Executive Officer and Dropbox, Inc. wasn't one of them! That's right - they think these 10 stocks are even better buys. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*ĭavid and Tom just revealed what they believe are the ten best stocks for investors to buy right now. When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. These non-GAAP measures should be considered in addition to, and not as a substitute for, or in isolation from our GAAP results.ġ0 stocks we like better than Dropbox, Inc. Our discussion today will include non-GAAP financial measures. All forward-looking statements that we make on this call are based on assumptions and beliefs as of today, and we undertake no obligation to update them except as required by law. You should not rely on our forward-looking statements as predictions of future events. In particular, those described in our risk factors, including in our Form 10-K for the year ended December 31, 2020, and the risk factors that will be included in our Form 10-Q for the quarter ended March 31, 2021. These statements are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those projected or implied during this call.
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Statements on this call include forward-looking statements, including future financial results, including our goals and expectations regarding future revenue growth, profitability and our ability to generate and sustain positive free cash flow, our expectations regarding anticipated impact to our financial results, including estimated impairment charges and subleasing income as a result of our shift to a virtual-first work model, expected performance of our business, our expectations regarding remote work trends, related market opportunities and our ability to capitalize on those opportunities, our capital allocation plans, including expected timing and volume of share repurchases, future M&A opportunities and other investments our ability to drive future user growth, upgrades and retention by enhancing our products, developing and offering new products or features through our acquisitions, our strategy and the effectiveness of strategy in achieving our business goals and overall future prospects, and ability to generate shareholder value. Today, Dropbox will discuss quarterly financial results that were distributed earlier.
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