Dropbox reports Q1 annual recurring revenue up 3.6% y/y

As part of its Q1 results, the company stated: “Total ARR was $2.556 billion, an increase of 3.6% from the same period last year. On a constant currency basis, year-over-year growth would have been 2.8%. Utilizing the exchange rates set at the beginning of 2024, total ARR increased $15.6 million quarter-over-quarter. Paying users was 18.16 million, as compared to 17.90 million for the same period last year. Average revenue per paying user was $139.59, as compared to $138.97 for the same period last year. Paying users increased 35,000 quarter-over-quarter.”