Shares of Dropbox are higher this morning as the company heads into its earnings report. The firm will detail its second-quarter performance after the bell today.
Dropbox is trading higher in the wake of news that it has hired two new VPs: Former Wealthfront CEO Adam Nash as its VP Product and former Salesforce VP of Product Marketing Naman Khan as its own VP of Product Marketing.
But the new personnel will only carry Dropbox so far. Its earnings results will likely prove more motile to its share price.
On that front, investors expect the San Francisco-based cloud storage and productivity company to report revenue of $330.9 million and earnings per share of $0.07. In the year-ago quarter, Dropbox reported revenue of $266.7 million, and a loss of $26.7 million, according to a filing.
Dropbox earnings come after recurring revenue, the stuff that software-as-a-service companies generate, has seen its value appreciate as investors stay warm to tech shares. Box, a long-time Dropbox competitor, will report its own earnings later this month.
As a company, Dropbox attracts outsized attention to itself after a long, private history that was a key component of the Unicorn Era mythos. That the firm managed to eventually go public and quickly surpass its lofty private market valuation set back in early 2014 made it all the more important. If Dropbox had been forced to take a dramatic haircut or failed to excite after its IPO, the impact on other unicorns looking to go public could have been deleterious.
Regardless, this will be one of the last times that we check in on the stock and earnings of Dropbox, a recent technology IPO. It will no longer be a recent IPO at all soon enough.