Dropbox CEO Drew Houston Photo by Steve Jennings/Getty Images for TechCrunch

Dropbox has posted its financial results for the second quarter of this year, showing $401.5 million in revenue, up 18% from $339 million in the same period last year. Dropbox recorded a $21.4 million net loss in the same period, compared to $7.7 million in Q2 last year. The San Francisco-based cloud storage company now has 13.6 million paying users, compared to 11.9 million in the same period last year.

Other key takes from Dropbox’s Q2 results include:

• $344 million in cash and cash equivalents as of Q2 end
• $629 million worth of “short-term investments” as of Q2 end
• $120 million R&D spend for the quarter
• $87 million sales and marketing spend for the quarter
• $1.6 billion total liabilities (debt) as of Q2 end
• $2.4 billion total assets as of Q2 end

The release of Dropbox’s Q2 results happens to be around the same time frame several other tech companies also released theirs. To note a few, Uber just posted its own results, showing $3.2 billion in revenue for the second quarter but still with losses. Its ride-hailing counterpart, Lyft, recently posted strong Q2 results but still with losses.

Dropbox shares jumped 7% during trading on Thursday after it released its quarterly results.

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