Dropbox, Inc. (NASDAQ:DBX) Q3 2024 Earnings Conference Call November 7, 2024 5:00 PM ET

Company Participants

Peter Stabler - Head, Investor Relations
Drew Houston - Co-Founder & Chief Executive Officer
Tim Regan - Chief Financial Officer

Conference Call Participants

Luv Sodha - Jefferies
Rishi Jaluria - RBC Capital Markets
Josefina Ruggieri - JPMorgan

Operator

Good afternoon, ladies and gentlemen, thank you for joining Dropbox Third Quarter 2024 Earnings Conference Call. All participants will be in listen-only mode. After today's presentation, there will be an opportunity to ask questions. [Operator Instructions] As a reminder, this conference call is being recorded and will be available for replay from the Investor Relations section of Dropbox's website following this call.

I will now turn it over to Peter Stabler, Head of Investor Relations.

Peter Stabler

Thank you. Good afternoon, and welcome to Dropbox's third quarter 2024 earnings call.

Before we get started, I'd like to remind you that our remarks today will include forward-looking statements such as our financial guidance and expectations, including our long-term objectives and forecast for our fourth quarter, fiscal year 2024, fiscal year 2025 and our expectations regarding our revenue growth, profitability, operating margin and free cash flow, as well as our expectations regarding our business, assets, products, strategies, technology, employees, users, demand and the macroeconomic environment.

These statements are subject to risks and uncertainties that could cause actual results to differ materially. They are also based on assumptions as of today, and we undertake no obligation to update them as a result of new information or future events. Factors and risks that could cause our actual results to differ materially from these forward-looking statements are set forth in today's earnings release and in our quarterly report on Form 10-Q filed with the SEC.

We'll also discuss non-GAAP financial measures, which are not prepared in accordance with generally accepted accounting principles. A reconciliation of GAAP and non-GAAP results is provided in our earnings release and on our website at investors.dropbox.com.

I will now turn the call over to Dropbox's Co-Founder and CEO, Drew Houston.

Drew Houston

Thanks, Peter, and good afternoon, everyone. Welcome to our Q3 2024 earnings call, and I'm here with Tim Regan, our CFO. I'll cover our recent business updates and strategy, and then Tim will walk through our Q3 results and our outlook.

Last week, we announced a 20% reduction in our workforce. This was an incredibly difficult decision, and I want to acknowledge all the folks at Dropbox who were impacted, but it was a necessary step to position for our next chapter.