Free cash flow was $205.9 million, as compared to $216.0 million for the same period last year. Net cash provided by operating activities was $209.9 million, as compared to $219.9 million for the same period last year. The company's GAAP and non-GAAP net income declined year-over-year as a result of a significant increase in income tax expense due to the impact of new R&D tax legislation. Non-GAAP net income was $138.1 million, as compared to $160.5 million for the same period last year. GAAP net income was $62.0 million, as compared to $88.0 million for the same period last year. Non-GAAP operating margin was 31.9%, as compared to 31.9% for the same period last year.

GAAP operating margin was 14.5%, as compared to 15.9% for the same period last year. Non-GAAP gross margin was 83.0%, as compared to 81.2% for the same period last year. GAAP gross margin was 81.5%, as compared to 79.8% for the same period last year. Average revenue per paying user was $133.34, as compared to $133.15 for the same period last year. Paying users ended at 17.37 million, as compared to 16.14 million for the same period last year. On a constant currency basis, year-over-year growth would have been 8.3%. Total ARR ended at $2.333 billion, an increase of $43.7 million quarter-over-quarter and an increase of 7.7% year-over-year. On a constant currency basis, year-over-year growth would have been 8.8%. Total revenue was $572.7 million, an increase of 7.9% from the same period last year.

I'm proud of the team's discipline and execution, and excited for what's ahead as we build one organized place for your cloud content and all the workflows around it.' We believe we're operating from a position of strength to deliver value to shareholders, thanks to strong profitability and improved customer retention. 'We made great progress this quarter, enhancing performance and functionality in our core FSS product, releasing additional security and data protection capabilities, and expanding workflows, like Capture and Replay. 'Our Q2 results are a testament to the strength of our business and the value our product delivers to our customers, despite the unpredictable macro environment,' said Dropbox Co-Founder and Chief Executive Officer Drew Houston. (NASDAQ: DBX) today announced financial results for its second quarter ended June 30, 2022. Net Cash Provided by Operating Activities of $209.9 Million and Free Cash Flow of $205.9 Million GAAP Operating Margin of 14.5% and Non-GAAP Operating Margin of 31.9% Second Quarter Revenue of $572.7 Million, Up 7.9% Year-over-year on a constant currency basis, Up 8.8% Year-over-year

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