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    Luv Sodha • Jefferies

    Luv Sodha's questions to Dropbox Inc (DBX) leadership

    Luv Sodha's questions to Dropbox Inc (DBX) leadership • Q3 2024

    Question

    Luv Sodha inquired about the key differentiators for Dropbox Dash in a competitive market and the potential monetization opportunity, particularly how it could impact ARPU given the price sensitivity observed in the Teams customer base.

    Answer

    Co-Founder and CEO Drew Houston explained that Dash's differentiation stems from several factors. He highlighted unique product features like 'protect and control' for IT governance, which addresses a major pain point. Structurally, he pointed to Dropbox's scale with over 500,000 business customers, its platform-agnostic design that works across ecosystems like Google and Microsoft, and the company's trusted brand regarding data privacy. Houston noted that while it's early, Dash is expected to be accretive to ARPU, as it addresses a larger, greenfield market of 1 billion knowledge workers facing information overload, a market with different dynamics than the mature FSS space.

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    Luv Sodha's questions to Procore Technologies Inc (PCOR) leadership

    Luv Sodha's questions to Procore Technologies Inc (PCOR) leadership • Q3 2024

    Question

    Luv Sodha from Jefferies asked for an analysis of the current macroeconomic environment and the source of optimism for 2026. He also inquired about the cadence of margin expansion in the next year and the completion timeline for the go-to-market changes.

    Answer

    Executive Craig Courtemanche described the macro sentiment as short-term conservative but with a 'slightly elevated amount of hope' for improvement post-election and with potential interest rate cuts. Executive Howard Fu noted the 13% margin guide for next year is early and has potential upside. Courtemanche clarified that the go-to-market transition is in its early stages and will not be complete by year-end, with the 'real work' beginning in January.

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