Dropbox Inc. (DBX) stock suffered a significant pre-market plunge of 9.35% on Friday, following the company's disappointing earnings report and outlook that revealed several adverse factors weighing on investor sentiment.
The cloud storage and collaboration platform disclosed that it is facing an accelerated decline in paying users, with a projected reduction of approximately 300,000 users in 2025. Additionally, Dropbox's teams business is grappling with elevated churn and downsell pressure, leading to growth headwinds. Pricing sensitivity and a reduced outbound sales force have further compounded the challenges for the teams segment.
Moreover, strategic decisions regarding FormSwift and foreign exchange headwinds are expected to create a 1.5% headwind to Dropbox's revenue growth in 2025. Despite these challenges, the company reported a 23% year-over-year growth in free cash flow per share for the fourth quarter and successfully reduced its diluted share count through share repurchases. Dropbox is also focusing on scaling its Dash product, which has received positive customer reception and exceeded sales goals in Q4.
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