Net cash provided by operating activities was $139.9 million, as compared to $141.4 million for the same period last year. Non-GAAP net income was $146.1 million, as compared to $141.5 million for the same period last year. GAAP net income was $69.0 million, as compared to $79.7 million for the same period last year. Non-GAAP operating margin was 28.6%, as compared to 30.3% for the same period last year. GAAP operating margin was 13.8%, as compared to 15.9% for the same period last year. Non-GAAP gross margin was 82.4%, as compared to 81.3% for the same period last year. GAAP gross margin was 80.9%, as compared to 79.9% for the same period last year. Average revenue per paying user was $138.97, as compared to $134.63 for the same period last year.
Paying users ended at 17.90 million, as compared to 17.09 million for the same period last year. On a constant currency basis, Total ARR grew $37.5 million quarter-over-quarter, and year-over-year growth would have been 11.6%. Total ARR ended at $2.468 billion, an increase of 7.8% from the same period last year. On a constant currency basis, year-over-year growth would have been 11.6%. Total revenue was $611.1 million, an increase of 8.7% from the same period last year.
I’m committed to ensuring Dropbox is at the forefront of this era and excited to bring more AI-powered products to market for our customers." "While the economic backdrop remains tough for our existing businesses, the AI era of computing has arrived and we see a huge opportunity to apply AI/ML to our products to transform knowledge work. "We’re pleased with our financial results in Q1, beating our guidance across all metrics," said Dropbox Co-Founder and Chief Executive Officer Drew Houston. (NASDAQ: DBX), today announced financial results for its first quarter ended March 31, 2023. SAN FRANCISCO, May 04, 2023-( BUSINESS WIRE)-Dropbox, Inc. Net Cash Provided by Operating Activities of $139.9 Million and Free Cash Flow of $138.0 Million First Quarter Revenue of $611.1 Million, up 8.7% year-over-year on a constant currency basis, up 11.6% year-over-year
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