DROPBOX IPO FILING WARNS : We may never be profitable

pulse

February 23, 2018 9:21 PM

The company lost $111 million last year, it said in its filing.

Dropbox on Friday filed to go public.
The company has never made a profit and warned it may never, according to a filing.

Dropbox officially filed on Friday to go public on the Nasdaq exchange under the ticker 'DBX.'

It’s the first time the company has had to disclose its financial situation — and the details aren’t exactly pretty. The company lost $111.7 million in 2017 on revenues of $1.1 billion, and warned potential investors it may never be profitable.

"We have a history of net losses, we anticipate increasing expenses in the future, and we may not be able to achieve or maintain profitability," the company said in the risks section of its S-1 filing, which is required of any and all companies filing for an initial public offering in the United States.

"It is difficult to predict the size and growth rate of our market, user demand for our platform, user adoption and renewal of our platform, the entry of competitive products and services, or the success of existing competitive products and services," the filing said. "As a result, we may not achieve or maintain profitability in future periods."

Here are some of the other risk factors Dropbox has laid out:

You can read the full S-1 filing here.

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