Cloudflare Inc. (NET) Q3 2024 Earnings Breakdown

Key Highlights:

• Financial Performance: Dropbox reported net income of $106.7 million for Q3 2024, compared to $114.1 million in Q3 2023. Basic and diluted net income per share was $0.34 for both periods. Revenue for the quarter was $638.8 million, up from $633.0 million in the prior year quarter.
• Paying Users: Dropbox had 18.24 million paying users as of September 30, 2024, slightly up from 18.12 million at the end of the previous quarter.
• ARPU: Average revenue per paying user (ARPU) was $139.05 for Q3 2024, a slight increase from $138.71 in the same period last year.
• Stock Repurchases: Dropbox repurchased 14.6 million shares of its Class A common stock during the quarter for a total of $351.8 million.
• Legal Proceedings: The company won a patent infringement lawsuit filed by Motion Offense, LLC. However, Motion Offense has filed a motion for a new trial.
• Risk Factors: The report highlights key risk factors, including competition, data privacy regulations, reliance on third-party software and services, and the potential impact of economic conditions.