DROPBOX, INC.DBXEarnings & Financial Report
Dropbox is a file hosting service operated by the American company Dropbox, Inc., headquartered in San Francisco, California, that offers cloud storage, file synchronization, personal cloud, and client software. Dropbox was founded in 2007 by MIT students Drew Houston and Arash Ferdowsi as a startup company, with initial funding from seed accelerator Y Combinator.
Revenue
$634.5M
Gross Profit
$527.5M
Operating Profit
$127.0M
Net Profit
$110.5M
Gross Margin
83.1%
Operating Margin
20.0%
Net Margin
17.4%
YoY Growth
1.9%
EPS
$0.34
DROPBOX, INC. Q2 FY2024 Financial Summary
DROPBOX, INC. reported revenue of $634.5M (up 1.9% YoY) for Q2 FY2024, with a net profit of $110.5M (up 155.8% YoY) (17.4% margin). Cost of goods sold was $107.0M, operating expenses totaled $400.5M.
Key Financial Metrics
| Total Revenue | $634.5M |
|---|---|
| Net Profit | $110.5M |
| Gross Margin | 83.1% |
| Operating Margin | 20.0% |
| Report Period | Q2 FY2024 |
Revenue Breakdown
DROPBOX, INC. Q2 FY2024 revenue of $634.5M breaks down across 2 segments, led by US at $361.7M (57.0% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| US | $361.7M | 57.0% |
| Non Us | $272.8M | 43.0% |
DROPBOX, INC. Revenue by Segment — Quarterly Trend
DROPBOX, INC. revenue by segment across the last 4 reported quarters, showing how each business line (such as US and Non Us) has evolved quarter over quarter.
| Segment | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 | Q1 FY2025 |
|---|---|---|---|---|
| US | $355.3M | $355.6M | $354.1M | $356.4M |
| Non Us | $280.9M | $278.8M | $271.6M | $268.3M |
DROPBOX, INC. Annual Revenue by Year
DROPBOX, INC. annual revenue history includes year-by-year totals (for example, 2025 revenue was $2.5B).
| Year | Annual Revenue |
|---|---|
| 2025 | $2.5B |
| 2024 | $2.5B |
| 2023 | $2.5B |
| 2022 | $2.3B |
DROPBOX, INC. Quarterly Revenue & Net Profit History
DROPBOX, INC. results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q4 FY2025 | $636.2M | -1.1% | $108.7M | 17.1% |
| Q3 FY2025 | $634.4M | -0.7% | $123.8M | 19.5% |
| Q2 FY2025 | $625.7M | -1.4% | $125.6M | 20.1% |
| Q1 FY2025 | $624.7M | -1.0% | $150.3M | 24.1% |
| Q4 FY2024 | $643.6M | +1.4% | $102.8M | 16.0% |
| Q3 FY2024 | $638.8M | +0.9% | $106.7M | 16.7% |
| Q2 FY2024 | $634.5M | +1.9% | $110.5M | 17.4% |
| Q1 FY2024 | $631.3M | +3.3% | $132.3M | 21.0% |
Income Statement
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $631.3M | $634.5M | $638.8M | $643.6M | $624.7M | $625.7M | $634.4M | $636.2M |
| YoY Growth | 3.3% | 1.9% | 0.9% | 1.4% | -1.0% | -1.4% | -0.7% | -1.1% |
Balance Sheet
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $2.80B | $2.72B | $2.58B | $3.33B | $2.96B | $2.78B | $2.80B | $2.84B |
| Liabilities | $3.07B | $3.09B | $3.12B | $4.08B | $4.03B | $4.08B | $4.33B | $4.64B |
| Equity | $-277.2M | $-371.3M | $-546.1M | $-752.4M | $-1.08B | $-1.31B | $-1.53B | $-1.80B |
Cash Flow
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $175.5M | $230.6M | $274.2M | $213.8M | $153.8M | $260.5M | $302.1M | $235.4M |