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Dropbox, Inc.

DBX · Information Technology

Last earnings Aug 6, 2026

Key results

GAAP operating marginquarter

27.5%

GAAP Operating Margin of 27.5% and

SEC original ↗Dropbox, Inc. — Earnings release (8-K exhibit)EX-99May 7, 2026

Non-GAAP operating marginquarter

40.1%

Non-GAAP Operating Margin of 40.1% Net Cash Provided by Operating Activities of $204.5 Million and

SEC original ↗Dropbox, Inc. — Earnings release (8-K exhibit)EX-99May 7, 2026

Unlevered free cash flowquarter

$236.4

Unlevered Free Cash Flow of $236.4

SEC original ↗Dropbox, Inc. — Earnings release (8-K exhibit)EX-99May 7, 2026

Million revenuequarter

$629.5 Million

Million Revenue of $629.5 Million, an increase of 0.8% year-over-year excluding FormSwift, up 2.0% year-over-year SAN FRANCISCO, Calif.

SEC original ↗Dropbox, Inc. — Earnings release (8-K exhibit)EX-99May 7, 2026

Growthquarter

up 2.0%

Million Revenue of $629.5 Million, an increase of 0.8% year-over-year excluding FormSwift, up 2.0% year-over-year SAN FRANCISCO, Calif.

SEC original ↗Dropbox, Inc. — Earnings release (8-K exhibit)EX-99May 7, 2026

Total revenuequarter

$629.5 million

First Quarter 2026 Results Compared to First Quarter 2025 Total revenue was $629.5 million, an increase of 0.8%.

SEC original ↗Dropbox, Inc. — Earnings release (8-K exhibit)EX-99May 7, 2026

Revenuequarter

2.0%

Excluding FormSwift, which we significantly reduced our investment in at the beginning of 2025 and plan to wind down operations by the end of 2026, revenue grew 2.0%.

SEC original ↗Dropbox, Inc. — Earnings release (8-K exhibit)EX-99May 7, 2026

On a constant currency basis, total revenue excluding FormSwift increased by 0.4%.

SEC original ↗Dropbox, Inc. — Earnings release (8-K exhibit)EX-99May 7, 2026

Average revenuequarter

$141.18

Average revenue per paying user was $141.18, as compared to $139.26.

SEC original ↗Dropbox, Inc. — Earnings release (8-K exhibit)EX-99May 7, 2026

AI analysis

Q1 2026 · reported May 7, 2026

Based on: Earnings release + parent 8-K — transcript not held

Total revenue · Q1 2026
$629.5M
EX-99 · May 7, 2026
GAAP operating margin · Q1 2026
27.5%
EX-99 · May 7, 2026
Non-GAAP operating margin · Q1 2026
40.1%
EX-99 · May 7, 2026
Unlevered free cash flow · Q1 2026
$236.4
EX-99 · May 7, 2026

Headline figures

MetricQ1 2026Prior qtrYear ago
GAAP operating margin27.5%——
Non-GAAP operating margin40.1%——
Unlevered free cash flow$236.4——
Million revenue$629.5 Million——
Growthup 2.0%——
Total revenue$629.5 million——
Revenue2.0%——
Average revenue$141.18——

EX-99 · May 7, 2026

Guidance · company-stated

No guidance located in the held release

Next earningsNo verified date on fileNo date is estimated or imported

Margin

GAAP operating margin27.5%
Non-GAAP operating margin40.1%

Cash flow & capex

Unlevered free cash flow$236.4

Capital allocation

The decrease was primarily due to an increase in interest expense related to additional draws on our term loan facility.

FCF differs from GAAP net cash provided by operating activities in that it treats capital expenditures as a reduction to net cash provided by operating activities.

General educational research only — not investment advice.Every figure is as stated in the held documents; values marked “computed from stated figures” are arithmetic on those stated figures. Guidance shown is the company’s own stated guidance. No price targets, no recommendations, no consensus estimates.

Event summary

First Quarter 2026 Results Compared to First Quarter 2025 Total revenue was $629.5 million, an increase of 0.8%

Based on: Earnings release + parent 8-K — transcript not held

Guidance & outlook

No guidance located in the held release

Capital allocation

The decrease was primarily due to an increase in interest expense related to additional draws on our term loan facility.

SEC original ↗Dropbox, Inc. — Earnings release (8-K exhibit)EX-99May 7, 2026

FCF differs from GAAP net cash provided by operating activities in that it treats capital expenditures as a reduction to net cash provided by operating activities.

SEC original ↗Dropbox, Inc. — Earnings release (8-K exhibit)EX-99May 7, 2026

Unlevered FCF represents net cash provided by operating activities adjusted for cash paid for capital expenditures and cash paid for interest on indebtedness and is calculated by adding cash paid for interest on debt, net of the associated tax benefit, to FCF.

SEC original ↗Dropbox, Inc. — Earnings release (8-K exhibit)EX-99May 7, 2026

Some of the limitations of FCF and unlevered FCF are that they each do not reflect our future contractual commitments, exclude investments made to acquire assets under finance leases, include capital expenditures, and may be calculated differently by other companies in our industry, limiting their respective usefulness as comparative measures.

SEC original ↗Dropbox, Inc. — Earnings release (8-K exhibit)EX-99May 7, 2026

Strategy & priorities

Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 including, among other things, our expectations regarding the performance of our Core business as well as our new product initiatives and expectations for our business for the remainder of 2026.

SEC original ↗Dropbox, Inc. — Earnings release (8-K exhibit)EX-99May 7, 2026

Competitors

Competitors & peers

Same GICS sector — classification peers, not declared competitors

Microsoft (MSFT) Information TechnologyTeradyne (TER) Information TechnologyASML Holding (ASML) Information TechnologyMicron Technology (MU) Information TechnologySeagate Technology (STX) Information TechnologyUnited Microelectronics (UMC) Information TechnologyMonolithic Power Systems (MPWR) Information TechnologyCoherent Corp. (COHR) Information Technology
Documents

Filings

35 documents

Earnings releases

38 documents

Presentations

0 documents

No presentations for Dropbox, Inc. are held in this edition of the library.

Transcripts

0 documents

No transcripts for Dropbox, Inc. are held in this edition of the library.

See also the earnings calendar for every tracked company’s next earnings date.