"As we strive to grow our business, we expect expenses to increase in the near term," Dropbox said.ĭropbox also warned potential investors that it faces threats from hackers out to plunder potentially valuable data from the cloud. The company had an accumulated deficit of $1.05 billion as of December 31, according to the filing. While Dropbox has seen significant revenue growth since it was founded in 2007, the rate has started to slow.ĭropbox has incurred losses annually since it has been in business, logging net losses of $111.7 million and $210.2 million respectively last year and the year before.
"A majority of our registered users may never convert to a paid subscription at our platform," the startup warned.ĭropbox noted that the actual number of people using its service might be lower because some register more than one account. While there were more than 500 million registered Dropbox users at the end of last year, only 11 million of them were paying subscribers, the firm said in the regulatory filing.
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Dropbox woos users with a free version of its online file-storing service, then entices with premium features to upgrade to paid subscriptions.
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