Dropbox (NASDAQ:DBX) unveiled its fourth-quarter financial results, achieving a slight revenue outperformance but experiencing a significant drop of more than 13% pre-market today in stock price due to worries about its Annual Recurring Revenue (ARR) and the count of paying subscribers.

The company’s earnings per share (EPS) for Q4 were $0.50, beating the analysts’ forecast by $0.02, and its revenue increased modestly to $635 million, exceeding the expected $631.57 million.

The downturn in stock reflects the market’s concern over the company’s strategic direction, underscored by a slight decrease in ARR and a reduction of 0.05 million in paying users quarter over quarter, contributing to investor apprehension about Dropbox’s future growth and profitability.

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