Earnings summaries and quarterly performance for DROPBOX.
Executive leadership at DROPBOX.
Andrew Houston
Detailed
Chief Executive Officer
CEO
AD
Ali Dasdan
Detailed
Chief Technology Officer
AA
Ashraf Alkarmi
Detailed
General Manager and Senior Vice President, Core Products
SS
Sarah Schubach
Detailed
Chief Accounting Officer
TR
Timothy Regan
Detailed
Chief Financial Officer
WY
Will Yoon
Detailed
Chief Legal Officer
Board of directors at DROPBOX.
Research analysts who have asked questions during DROPBOX earnings calls.
Rishi Jaluria
RBC Capital Markets
5 questions for DBX
Also covers: AKAM, BOX, COUR +21 more
Jaiden Patel
JPMorgan Chase & Co.
3 questions for DBX
Also covers: BL, PD
George Kurosawa
Citigroup Inc.
2 questions for DBX
Also covers: BOX, INTA, MANH +6 more
MB
Matt Bullock
Bank of America Merrill Lynch
2 questions for DBX
Also covers: ALRM, ASAN, BOX +4 more
MB
Matthew Bullock
Bank of America
2 questions for DBX
Also covers: ALRM, IOT
PW
Patrick Walravens
Citizens JMP
2 questions for DBX
Also covers: AI, ALKT, ASAN +26 more
SE
Steven Enders
Citigroup Inc.
2 questions for DBX
Also covers: APPN, ASAN, BL +14 more
AN
Alex Newan
Jefferies
1 question for DBX
AN
Alex Nguyen
Jefferies Financial Group Inc.
1 question for DBX
Also covers: TEAM
GN
Gilly Nevavlich
Goldman Sachs
1 question for DBX
JR
Josephina Rugeri
JPMorgan Chase & Co.
1 question for DBX
LS
Luv Sodha
Jefferies
1 question for DBX
Also covers: PCOR, ZUO
PC
Palak Chandak
Citigroup
1 question for DBX
SK
Sonak Kolar
JPMorgan Chase & Co.
1 question for DBX
Also covers: DOCU, OS, ZM
Recent press releases and 8-K filings for DBX.
Dropbox Reports Q4 2025 Results and Provides 2026 Outlook
DBX
Earnings
Guidance Update
Share Buyback
- Dropbox reported Q4 2025 revenue of $636 million, with constant currency revenue roughly flat year-over-year when excluding the impact of FormSwift. The company generated over $1 billion of unlevered free cash flow for the full year 2025 and reduced its diluted share count by more than 50 million shares in 2025 through its share repurchase program.
- For full year 2026, Dropbox expects revenue between $2.485 billion and $2.5 billion, implying roughly flat growth year-over-year excluding FormSwift, and anticipates non-GAAP operating margin in the range of 39%-39.5%. Unlevered free cash flow is projected to be at or above $1.040 billion.
- The company is focused on stabilizing its core FSS business, with the individuals business seeing steady growth across 2025, and scaling its Dash product, which launched embedded capabilities in Teams plans in Q4 2025 and is showing solid early engagement. Dropbox also announced the decision to sunset FormSwift by the end of 2026.
- Ross Tennenbaum joined Dropbox as Chief Financial Officer in December 2025. The company continues its share repurchase program, with approximately $1.17 billion remaining under its existing authorization as of the end of Q4 2025.
Feb 19, 2026, 10:00 PM
Dropbox Reports Q4 and Full Year 2025 Results
DBX
Earnings
Guidance Update
Share Buyback
- Q4 2025 revenue was $636 million, with full-year 2025 constant currency revenue being flat when excluding the FormSwift wind down.
- Diluted EPS for Q4 2025 was $0.68, and unlevered free cash flow was $251 million (or $0.99 per share), contributing to over $1 billion in unlevered free cash flow for the full year.
- The company reduced its diluted share count by over 50 million shares in 2025 and anticipates a further decrease to 227-232 million shares in 2026 through its share repurchase program.
- For 2026, Dropbox expects flat net new paying users for the full year (after a Q1 decline) and no operating margin expansion due to continued investments in Dash and efforts to return the core FSS teams business to positive net license growth.
Feb 19, 2026, 10:00 PM
Dropbox Exceeds Q4 2025 Revenue and Operating Margin Guidance
DBX
Earnings
Guidance Update
Share Buyback
- Dropbox reported Q4 2025 revenue of $636 million, which was above the high end of guidance, with constant currency revenue flat year-over-year excluding FormSwift. The non-GAAP operating margin reached 38.2%, exceeding expectations.
- The company generated over $1 billion in unlevered free cash flow for 2025 and reduced its diluted share count by more than 50 million shares through repurchases. In Q4 2025, unlevered free cash flow was $251 million, a 44% increase year-over-year.
- Strategic initiatives include the stabilization of the core FSS business, with a focus on returning teams to positive net license growth in 2026, and the launch of embedded Dash capabilities within Teams plans in Q4 2025, showing solid early engagement.
- For fiscal year 2026, Dropbox projects revenue between $2.485 billion and $2.5 billion (roughly flat year-over-year excluding FormSwift) and expects unlevered free cash flow to be at or above $1.040 billion. Paying users are anticipated to be flat year-over-year for 2026.
Feb 19, 2026, 10:00 PM
Dropbox Announces Fourth Quarter and Fiscal 2025 Results
DBX
Earnings
Share Buyback
Demand Weakening
- Dropbox reported Q4 2025 revenue of $636.2 million, a 1.1% decrease year-over-year, and fiscal year 2025 revenue of $2.521 billion, also down 1.1% year-over-year; however, excluding FormSwift, revenue grew by 0.4% and 0.2% respectively.
- For Q4 2025, the company achieved a GAAP operating margin of 25.5% and a Non-GAAP operating margin of 38.2%. For the full fiscal year 2025, these margins were 27.3% (GAAP) and 40.6% (Non-GAAP).
- Net cash provided by operating activities was $235.4 million in Q4 2025 and $951.8 million for fiscal year 2025, with unlevered free cash flow reaching $250.5 million and $1.016 billion for the respective periods.
- The company repurchased approximately 14.4 million shares for $414.6 million in Q4 2025, contributing to a total of approximately 60.4 million shares repurchased for $1.7 billion during fiscal year 2025.
Feb 19, 2026, 9:13 PM
Dropbox Announces Fourth Quarter and Fiscal 2025 Results
DBX
Earnings
Demand Weakening
Share Buyback
- Dropbox reported Q4 2025 revenue of $636.2 million, a 1.1% decrease year-over-year, but a 0.4% increase excluding FormSwift. For Fiscal Year 2025, total revenue was $2.521 billion, down 1.1% year-over-year, or up 0.2% excluding FormSwift.
- The company achieved a Non-GAAP operating margin of 38.2% in Q4 2025 and 40.6% for Fiscal Year 2025, exceeding the high end of its guidance.
- Unlevered Free Cash Flow was $250.5 million in Q4 2025 and $1.016 billion for Fiscal Year 2025.
- Non-GAAP diluted net income per share was $0.68 for Q4 2025 and $2.84 for Fiscal Year 2025.
- During Fiscal Year 2025, Dropbox repurchased approximately 60.4 million shares for $1.7 billion.
Feb 19, 2026, 9:04 PM
Dropbox Reports Q3 2025 Results, Raises Full-Year Guidance, and Launches Dash Self-Serve
DBX
Earnings
Guidance Update
Product Launch
- Dropbox reported Q3 2025 revenue of $634 million, a 0.7% year-over-year decline, while achieving a non-GAAP operating margin of 41.1% and diluted EPS of $0.74, a 23% increase year-over-year.
- The company raised its full-year 2025 revenue guidance to $2.511-$2.514 billion and its non-GAAP operating margin outlook to approximately 40%, with unlevered free cash flow expected to be at or above $1 billion.
- Dropbox launched the self-serve version of Dash in the US at $19 per user per month and began rolling out native Dash integration within the Dropbox app, showing strong early engagement with 60% of managed Dash weekly active users.
- In Q3, Dropbox repurchased approximately 14 million shares for $390 million and authorized a new $1.5 billion share repurchase program.
Nov 6, 2025, 10:00 PM
Dropbox Announces Fiscal 2025 Third Quarter Results
DBX
Earnings
Guidance Update
Product Launch
- Dropbox reported Q3 2025 revenue of $634.4 million, a 0.7% decrease year-over-year.
- The company achieved a GAAP operating margin of 27.5% and a Non-GAAP operating margin of 41.1%, reflecting expanded margins.
- Net cash provided by operating activities was $302.1 million and Free Cash Flow reached $293.7 million for the quarter ended September 30, 2025.
- GAAP diluted net income per share was $0.47 and Non-GAAP diluted net income per share was $0.74.
- Dropbox launched the self-serve version of Dash, an AI assistant and search engine, which has received positive early customer response.
Nov 6, 2025, 9:06 PM
Dropbox Announces Fiscal 2025 Third Quarter Results
DBX
Earnings
Product Launch
Demand Weakening
- Dropbox reported revenue of $634.4 million for the third quarter ended September 30, 2025, representing a 0.7% decrease year-over-year.
- The company achieved a GAAP operating margin of 27.5% and a Non-GAAP operating margin of 41.1% for the quarter.
- GAAP net income was $123.8 million and Non-GAAP net income was $196.7 million.
- GAAP diluted net income per share was $0.47, while Non-GAAP diluted net income per share was $0.74.
- Net cash provided by operating activities totaled $302.1 million, and free cash flow was $293.7 million.
Nov 6, 2025, 9:04 PM
Fingerprint Reports Record Q2 Results and Forms Customer Advisory Board
DBX
Earnings
Product Launch
New Projects/Investments
- Fingerprint achieved its largest quarter in ARR for Q2, marking its strongest quarter to date, driven by accelerating adoption among Fortune 500 companies.
- The company launched a Customer Advisory Board with executives from companies including Dropbox, North, Vesta, and Condé Nast, to provide strategic guidance and shape its product roadmap against evolving fraud threats.
- Recent growth was significantly driven by the release of advanced Smart Signals, including Bot Detection, Virtual Machine Detection, and Residential Proxy Detection, developed in response to customer feedback on AI-enabled fraud tactics.
- Fingerprint is investing in next-generation detection tools to secure AI agent interactions, anticipating the global AI agent market to grow from $5 billion in 2024 to $50 billion by 2030.
Aug 19, 2025, 11:00 AM
Dropbox Reports Q2 2025 Financial Results and Provides FY 2025 Guidance
DBX
Earnings
Guidance Update
Share Buyback
- Dropbox reported Q2 2025 revenue of $625.7 million and Non-GAAP diluted EPS of $0.71. The company achieved a Non-GAAP operating margin of 41.5% in Q2 2025.
- As of June 30, 2025, Dropbox had 18.13 million paying users with an Average Revenue Per User (ARPU) of $138.32.
- Free Cash Flow for Q2 2025 was $258.5 million , contributing to a Trailing Twelve Months (TTM) Free Cash Flow of $893 million. Total available liquidity as of Q2 2025 was $1.955 billion.
- In Q2 2025, the company repurchased approximately 14 million shares for ~$400 million. For fiscal year 2025, Dropbox expects GAAP revenue between $2.490 billion and $2.500 billion and unlevered free cash flow at or above $970 million.
Aug 7, 2025, 9:00 PM
Quarterly earnings call transcripts for DROPBOX.
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