{
  "docId": "019de512-4d94-727d-a76b-4ff04c56c8e5",
  "docSlug": "191cded9bb9dda4f82d539f60784d673",
  "documentTitle": "Dropbox | Investor Presentation Deck | 42 slides",
  "authorId": "dropbox",
  "authorName": "Dropbox",
  "documentKindSlug": "pitchdeck",
  "documentKindLabel": "Pitch deck",
  "sourceTypeSlug": "investor_relations",
  "sourceTypeLabel": "Investor relations",
  "presentationDate": "2022-02-01 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.7777778,
  "pageNumber": 30,
  "pageCount": 42,
  "prevPage": 29,
  "nextPage": 31,
  "slideType": "business_model",
  "function": "analyze_data",
  "density": "balanced",
  "nDataPoints": 24,
  "notes": null,
  "elementsJson": null,
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019de512-4d94-727d-a76b-4ff04c56c8e5/30",
  "deckHref": "/decks/019de512-4d94-727d-a76b-4ff04c56c8e5",
  "deckJsonHref": "/decks/019de512-4d94-727d-a76b-4ff04c56c8e5.json",
  "deckAnchorHref": "/decks/019de512-4d94-727d-a76b-4ff04c56c8e5#slide-30",
  "components": [
    {
      "bbox": {
        "h": 0.65,
        "w": 0.884,
        "x": 0.058,
        "y": 0.215
      },
      "kind": "table",
      "text": "Non-GAAP 2019 2020 2021 Long-term target Gross Margin 76% 79% 81% 80-82% R&D expense as % of revenue 30% 28% 25% 23-25% S&M expense as % of revenue 23% 20% 18% 18-20% G&A expense as % of revenue 11% 10% 8% 8-10% Operating margin 12% 21% 30% 30-32% Annual Free Cash Flow $392M $491M $708M $1B+",
      "attrs": null,
      "subkind": "kpi",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "deb28abc-ff86-4228-84b6-c6d3829a4db1",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.045,
        "w": 0.285,
        "x": 0.058,
        "y": 0.088
      },
      "kind": "title",
      "text": "Updated Target Model",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "bae6a4e4-161f-405b-a5a6-47d09e7a7c83",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [],
  "arcBeats": [
    {
      "to": 30,
      "from": 30,
      "beatId": "9f5e1001-463b-45f9-a5d6-b3559d0c62ad",
      "arcName": "The Sequoia Pitch",
      "arcSlug": "sequoia-pitch",
      "beatName": "Team",
      "beatSlug": "sequoia-pitch-team",
      "evidence": "Not explicitly shown but implied through the presentation of business model and strategy.",
      "position": 4,
      "confidence": 0.8,
      "parentBeatName": "Evidence",
      "parentBeatSlug": "evidence"
    }
  ],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}