![]() ![]() ![]() The key message is that LLMs offer an ability for users to receive personalized content. And seemingly overnight, we now live in a world where machines can read and write and talk to us and answer our questions in natural language. While Dropbox has been investing in AI and machine learning technology for many years, we're all witnessing an unprecedented wave of innovation around generative AI and large language models. Our company mission at Dropbox is to design a more enlightened way of working and I'm proud that we've accelerated our roadmap here with Dropbox Dash and our progress in AI, which I'll discuss in a minute. Given Dropbox’s platform is the home to huge amounts of content data, it’s unsurprising that Houston and the leadership team see opportunity with the advancement of this technology. One of the key benefits of LLMs is their ability to take in huge amounts of data, summarize it and offer suggestions for future actions. Vendors from all corners have been announcing their own advancements in LLMs, which have the potential to create efficiencies and new ways of interacting with enterprise tools. Since the release of OpenAI’s ChatGPT, Large Language Models (LLMs) have been fuelling fresh investment in the B2B software market. Houston took time during the financial analyst call to highlight that one of Dropbox’s key objectives over the coming months will be AI-powered product experiences, which he said will help customers organize their working lives. Non-GAAP net income was $174.0 million, as compared to $138.1 million for the same period last year. ![]() GAAP net income was $43.2 million, as compared to $62.0 million for the same period last year due to expenses related to the reduction in workforce in the second quarter of 2023, such as severance, benefits and other related items. Average revenue per paying user was $138.94, as compared to $133.34 for the same period last year Paying users ended at 18.04 million, as compared to 17.37 million for the same period last year. Total ARR ended at $2.500 billion, an increase of 7.2% from the same period last year Total revenue was $622.5 million, an increase of 8.7% from the same period last year. The key numbers from the quarter include: However, we are still navigating a difficult macroenvironment that continues to impact our Teams customers and pressures growth in our DocSend and Sign businesses. Houston said that Dropbox’s growth was being led by revenue performance in its FormSwift product, which was acquired by the company in 2022 and provides a library of form templates, but that the economic conditions were still impacting overall purchasing decisions. CEO Drew Houston told analysts this week that Dropbox would be releasing a series of AI products over the coming months, with a focus on responsible use, and the company’s share price was up in after hours trading. Dropbox makes it easy to connect and collaborate, whether you’re sharing files with a friend or working with a large team.Despite warnings about tough macroeconomic conditions, content collaboration vendor Dropbox has delivered a solid Q2 2023, beating its guidance across all metrics. Seamless collaboration: It’s hard to keep track of important attachments in a crowded inbox.File previews: Anyone visiting your shared links can preview over 175 file types and add comments-no special software required.Recipients won’t need a Dropbox account-they can click the link to view and download the file. Shared links: Easily create a link for any file in your Dropbox that you can paste into an email, chat, or text.Version history: If you ever change your mind, you can roll a file back to any version saved to Dropbox in the past 30 days.You can easily restore anything you’ve deleted in the past 30 days from. File recovery: Accidentally deleted a file from your Dropbox? No problem.And with our desktop and mobile apps, you can automatically upload photos and videos to Dropbox from your phone, camera, or SD card. File sync: Back up anything by storing it in the Dropbox folder on your computer. ![]()
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