By Denny Jacob
Dropbox shares declined roughly 10% after the company forecast paying users to decline in 2025.
Shares were trading around $28.73 in premarket trading. The stock is up about 33% over the last year.
The software company said it expects paying users to decline 1.5% to 300,000 users. Half of the decline will be a result of Dropbox's reduced investment in FormSwift, said Chief Financial Officer Timothy Regan. The remaining half is expected to stem from a reduced outbound sales force subsequent to its reduced employee headcount.
Regan said roughly half of the full year's decline will occur in the first quarter.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
February 21, 2025 06:35 ET (11:35 GMT)
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