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    Income Statement

    Uploaded by

    Imran Husaini
    Dropbox reported revenue of $2.32 billion for 2022, up from $2.16 billion in 2021. Cost of revenue was $444.2 million and gross profit was $1.88 billion for 2022. Research and development expenses were $891.9 million, while sales and marketing expenses were $409.4 million and general and administrative expenses were $222.9 million. This resulted in income from operations of $181.3 million for 2022. Net income was $553.2 million compared to net income of $335.8 million in 2021.

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    Income Statement

    Uploaded by

    Imran Husaini
    6 views1 page
    Dropbox reported revenue of $2.32 billion for 2022, up from $2.16 billion in 2021. Cost of revenue was $444.2 million and gross profit was $1.88 billion for 2022. Research and development expenses were $891.9 million, while sales and marketing expenses were $409.4 million and general and administrative expenses were $222.9 million. This resulted in income from operations of $181.3 million for 2022. Net income was $553.2 million compared to net income of $335.8 million in 2021.

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    income statement kepala butoh kau

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    income statement

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    Dropbox reported revenue of $2.32 billion for 2022, up from $2.16 billion in 2021. Cost of revenue was $444.2 million and gross profit was $1.88 billion for 2022. Research and development expenses were $891.9 million, while sales and marketing expenses were $409.4 million and general and administrative expenses were $222.9 million. This resulted in income from operations of $181.3 million for 2022. Net income was $553.2 million compared to net income of $335.8 million in 2021.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    6 views1 page

    Income Statement

    Uploaded by

    Imran Husaini
    Dropbox reported revenue of $2.32 billion for 2022, up from $2.16 billion in 2021. Cost of revenue was $444.2 million and gross profit was $1.88 billion for 2022. Research and development expenses were $891.9 million, while sales and marketing expenses were $409.4 million and general and administrative expenses were $222.9 million. This resulted in income from operations of $181.3 million for 2022. Net income was $553.2 million compared to net income of $335.8 million in 2021.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 1

    Table of Contents

    DROPBOX, INC.
    CONSOLIDATED STATEMENTS OF OPERATIONS
    (In millions, except per share data)
     
      Year ended December 31,
      2022 2021 2020
    Revenue $ 2,324.9  $ 2,157.9  $ 1,913.9 
    Cost of revenue(1) 444.2  444.2 414.6
    Gross profit 1,880.7  1,713.7  1,499.3 
    Operating expenses(1):
    Research and development 891.9  755.9  727.5 
    Sales and marketing 409.4  427.5 422.8
    General and administrative 222.9  224.6  227.8 
    Impairment related to real estate assets(2) 175.2  31.3  398.2 
    Total operating expenses 1,699.4  1,439.3  1,776.3 
    Income (loss) from operations 181.3  274.4  (277.0)
    Interest income (expense), net 3.3  (5.2) 1.7 
    Other income, net 8.1  30.1  25.1 
    Income (loss) before income taxes 192.7  299.3  (250.2)
    Benefit from (provision for) income taxes(3) 360.5  36.5  (6.1)
    Net income (loss) $ 553.2  $ 335.8  $ (256.3)
    Net income (loss) per share-basic and diluted:
    Basic net income (loss) per share $ 1.53  $ 0.87  $ (0.62)
    Diluted net income (loss) per share $ 1.52  $ 0.85  $ (0.62)
    Weighted-average shares used in computing net income (loss) per share
    attributable to common stockholders, basic 361.2  388.0  414.3 
    Weighted-average shares used in computing net income (loss) per share
    attributable to common stockholders, diluted 363.3  395.8  414.3 

     
    (1)
    Includes stock-based compensation as follows (in millions):

      Year ended December 31,
      2022 2021 2020
    Cost of revenue $ 24.7  $ 23.2  $ 17.1 
    Research and development 232.3  190.1  174.1 
    Sales and marketing 22.4  25.0  33.7 
    General and administrative(4) 51.3  48.8  36.6 
     
    (2)
    Includes impairment charges related to real estate assets as a result of adverse changes in the corporate real estate market which has impacted the Company's subleasing strategy in conjunction
    with its shift to Virtual First. See Note 9 "Leases" for further information.

    (3) Results of Operations for the year-ended 2022 include a one-time benefit from income taxes of $420.2 million due to the release of a valuation allowance on the U.S. federal and certain state
    deferred tax assets. Results of Operations for the year-ended 2021 include a one-time benefit from income taxes of $38.1 million from the release of a valuation allowance on the Irish deferred
    tax assets.

    (4)
    On March 19, 2020, one of the Company's co-founders resigned as a member of the board and as an officer of the Company, resulting in the reversal of $23.8 million in stock-based
    compensation expense. Of the total amount reversed, $21.5 million related to expense recognized prior to December 31, 2019.

    See accompanying Notes to Consolidated Financial Statements.

    68

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