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With nonpaying users across enterprises, Dropbox needs to continue its "land and expand" strategy, McKinnon said, flipping users to paid teams. It's an accelerated leap for a cloud provider compared to traditional competitors. Understanding how people engage with content, the company can read off billions and billions of user interactions to understand signals and mine intelligence.
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"If they can translate it into larger enterprise paid customers, larger install bases per customer, then they're really on track," Hobert said.Īn "R&D-centric company," Dropbox is continuing to invest in scale and performance, building off its in-house infrastructure backbone, said Cheryl McKinnon, principal analyst at Forrester. While alluring to enterprises, expanding beyond the 300,000 Dropbox Business teams will take time.ĭropbox has "maybe two-thirds of a foot in the true enterprise market and their heart and soul is still primarily in the consumer or small team market," McKinnon said. Leveraging existing executive relationships and understanding the enterprise buying cycle can help Dropbox gain a stronger hold on the file sharing market.
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Transitioning from a pure-play consumer tool to courting enterprises takes investment and patience.Īhead of the IPO, Dropbox started to change its leadership and management, pivoting from executives with consumer-focused backgrounds to leadership with experience in enterprise software delivery, said Karen Hobert, senior director analyst at Gartner, in an interview with CIO Dive. The road to IPOĪnalysts have played "will it/won't it" become profitable with Dropbox for years. Dropbox came out of Silicon Valley a decade ago as a file-sharing and cloud-storage company but has evolved into more of a workplace collaboration hub. "Does that make us a vertical in terms of our enterprise success?" Stafford asked. The stock is down 70 year to date (YTD), second-quarter revenue was down 60 year over year, and the company posted a 1 billion quarterly operating loss (which is more than 100 of its revenue). Because of the storage demands of multimedia-reliant companies, success is practically guaranteed, buoyed by a grassroots user base. Such capabilities are rich for media companies and Dropbox customers like National Geographic and News Corp. More customers are demanding collaboration capabilities and the ability to share content across partners, internal and external. But enterprises aren't seeking gigabytes, Stafford said. But the hyper industry-focused label is not what Dropbox is after.Ĭloud has made file transfer easy, moving gigabytes of data from one computer to another.
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On an unadjusted basis, the company posted a net loss of $6.6 million for the fourth quarter, down from $9.,9.5 million a year ago, and a net loss of $52.7 million for the full year.Emerging out of a consumer-focused landscape, Dropbox is capturing specific - and sometimes overlooked - industry verticals like construction and media. “However, the company’s aggressive portfolio revamp and introduction of new features give it an edge over rivals.”Īccording to one recent study, the cloud storage market is expected to grow from $30.70 billion in 2017 to $88.91 billion by 2022.ĭropbox’s goal is to be profitable by the end of the year, Houston told analysts in an earnings call.
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“Of late, Dropbox has been facing competition from free cloud storage providers like Microsoft and Google,” AlphaStreet reported. Thursday’s jump took the stock above $21 for the first time since September. But it had been in a downward spiral since then, going as low as $16.80 in December. In the after-hours session, Dropbox shares climbed as much as 13.4% to $21.23 before finishing at $20.73, up 10.8%.Īfter Dropbox went public in March 2018, the stock surged well above the IPO price of $21, reaching $39.60 in June 2018. “We closed the year with more than $1.6 billion in revenue, over 450,000 Dropbox business teams, and millions of people using our new foreground app that keeps Dropbox at the center of our users’ workflows.” “Our strong Q4 marked the end of an exciting year for Dropbox as we launched our vision for the smart workspace,” Dropbox CEO Drew Houston said in a news release.
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