Dropbox reaches key profit milestone on path to IPO

Seattle

DROPBOX Inc's chief executive officer said that the company is now generating a profit excluding interest, taxes, depreciation and amortisation, a key metric that investors are watching as the file-sharing software maker moves closer to becoming a public company.

"It's rare for software companies to be operating at our scale with our level of profitability and to be growing at the rate that we are," Dropbox CEO and co-founder Drew Houston said in an interview with Bloomberg Television. The measure does include compensation costs, such as stock or options issued to employees as part of their salary.