In Q2, we saw 14% revenue growth, driven by strength in our professional SKU and improvements in retention, particularly on our mobile platform. We're in a strong position to support their growth and offer differentiated solutions to meet their expanding needs.Īnd now turning to our second-quarter results.
These audiences have long been passionate Dropbox customers and that become a larger force in the economy. As we've shared before in the last year and a half, we've witnessed an acceleration of several macro trends that were already in play, including the rapid growth of the creator and freelancer economy. And as companies continue to think through their return to work policies, it's clear that distributed work is here to stay long after the pandemic ends.Īnd we believe we're in a unique position to help our customers adjust to the new world.
#DROPBOOK JP FREE#
To kick off, I'm excited to share that we had another strong quarter across the board, including record operating margins and free cash flow, driven by the ongoing value we're providing to our customers. We're incredibly grateful for his mentorship and he'll continue to be a friend and advisor to our team.
I'd also like to thank Bob Mylod, who's transitioning off our board for his outstanding service over these last seven years. I'm looking forward to working with Sara as we execute on our strategy. Sarah brings decades of experience as a skilled operator and strategist to our board and has led transform transformative growth of global brands such as P&G and Dun & Bradstreet. Before we begin I'd like to extend a warm welcome to our newest board member, Sara Mathew, who was appointed last week.
#DROPBOOK JP UPDATE#
Tim will then review our Q2 financial results, provide guidance for the third quarter, and update our outlook for the remainder of the year. Today, I'll share our business and product highlights from the quarter. And on the call with me is Tim Regan, our chief financial officer. Thanks, Kern, and good afternoon, everyone. Our discussion will include non-GAAP financial measures.Īndrew Houston - Co-Founder and Chief Executive Officer As of today, and we undertake no obligation to update them except as required by law. All forward-looking statements that we make on this call are based on assumptions and beliefs. You should not rely on our forward-looking statements as predictions of future events. These statements are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those projected or implied during this call, in particular those described in our risk factors included in our Form 10-Q for the quarter ended March 31, 2021, and the risk factors that will be included in our Form 10-Q for the quarter ended June 30, 2021.
Statements on this call include forward-looking statements including future financial results including our goals and expectations regarding future revenue growth, operability, and our ability to generate and sustain positive free cash flow our expectations regarding remote work trends, related market opportunities, and our ability to capitalize on those opportunities our expectations regarding anticipated impacts to our financial results, including estimated impairment charges and subleasing income as a result of our shift to a Virtual First work model expected performance of our business our capital allocation plans, including expected timing and volume share repurchases future M&A opportunities and other investments our ability to drive user growth, upgrades and retention by enhancing our products, developing and offering new products or features and through acquisitions our strategy and effectiveness of our strategy in achieving our business goals and overall future prospects and ability to generate shareholder value. Today, Dropbox will discuss the quarterly financial results that were distributed earlier. Good afternoon, and welcome to Dropbox's second-quarter 2021 earnings call.
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