Dropbox, Inc. (DBX) Financial Statements
Industry: Prepackaged Software (Services)
In fiscal 2025, Dropbox reported revenue of $2.52B, down 1.1% from $2.55B the year before. Net income was $508.4M (a 20.2% net margin), or $1.86 per diluted share. Gross margin was 80.1% and operating margin was 27.3%. Operating activities generated $951.8M of cash, leaving $930.8M of free cash flow. At fiscal year end, Dropbox held $2.84B in total assets against $4.64B in total liabilities, including $891.3M of cash and equivalents.
Open the full interactive Dropbox financials → Quarterly statements, key ratios, valuation history and price charts.
Dropbox Key Stats
| Share Price | $35.60 |
|---|---|
| Market Cap | $8.07B |
| P/E Ratio | 19.1 |
| Revenue YoY Growth | -1.1% |
| 52-Week Range | $22.06 – $37.74 |
| Shares Outstanding | 224.8 million (basic, 2026 Q2) |
Dropbox Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $1.91B | $2.16B | $2.32B | $2.50B | $2.55B | $2.52B |
| Cost of Goods Sold | $414.6M | $444.2M | $444.2M | $478.5M | $445.1M | $500.8M |
| Gross Profit | $1.50B | $1.71B | $1.88B | $2.02B | $2.10B | $2.02B |
| Operating Income | -$277.0M | $274.4M | $181.3M | $538.7M | $486.2M | $689.1M |
| Pre-Tax Income | -$250.2M | $299.3M | $192.7M | $554.4M | $509.8M | $617.6M |
| Income Tax | $6.1M | -$36.5M | -$360.5M | $100.8M | $57.5M | $109.2M |
| Net Income | -$256.3M | $335.8M | $553.2M | $453.6M | $452.3M | $508.4M |
| Diluted EPS | -$0.62 | $0.85 | $1.52 | $1.31 | $1.40 | $1.86 |
Dropbox Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $634.4M | $636.2M | $629.5M | $631.5M |
| Net Income | $123.8M | $108.7M | $114.5M | $95.8M |
| Diluted EPS | $0.47 | $0.40 | $0.48 | $0.42 |
Dropbox Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $314.9M | $533.0M | $232.8M | $614.9M | $1.33B | $891.3M |
| Current Assets | $1.23B | $1.85B | $1.49B | $1.52B | $1.74B | $1.19B |
| Total Assets | $2.39B | $3.09B | $3.11B | $2.98B | $3.33B | $2.84B |
| Current Liabilities | $1.09B | $1.18B | $1.20B | $1.20B | $1.21B | $1.89B |
| Total Long-Term Debt | — | $1.37B | $1.37B | $1.38B | $2.35B | $2.83B |
| Total Liabilities | $2.05B | $3.39B | $3.42B | $3.15B | $4.08B | $4.64B |
| Shareholders' Equity | $333.8M | -$293.9M | -$309.4M | -$165.8M | -$752.4M | -$1.80B |
Dropbox Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | $570.8M | $729.8M | $797.3M | $783.7M | $894.1M | $951.8M |
| Cash From Investing | -$233.6M | -$524.8M | -$48.5M | $395.2M | $443.8M | $111.9M |
| Cash From Financing | -$577.7M | $16.2M | -$1.04B | -$799.2M | -$586.6M | -$1.53B |
| Free Cash Flow | $490.7M | $707.7M | $763.5M | $759.4M | $871.6M | $930.8M |
Figures from Dropbox's 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Dropbox financials page for every line item.
Dropbox Company Profile
| Ticker | DBX |
|---|---|
| Exchange | Nasdaq |
| Industry | Prepackaged Software (Services) |
| Headquarters | San Francisco, California |
| Incorporated in | Nevada |
| Fiscal Year End | December 31 |
| SEC Filer Category | Large accelerated filer |
| SEC CIK | 0001467623 |
Frequently Asked Questions
What was Dropbox's revenue in fiscal 2025?
Dropbox (DBX) reported revenue of $2.52B for fiscal 2025.
What is Dropbox's annual revenue history?
Dropbox's annual revenue by fiscal year: 2020: $1.91B; 2021: $2.16B; 2022: $2.32B; 2023: $2.50B; 2024: $2.55B; 2025: $2.52B.
What was Dropbox's net income in fiscal 2025?
Dropbox reported net income of $508.4M for fiscal 2025.
What was Dropbox's earnings per share (EPS) in fiscal 2025?
Dropbox's diluted EPS was $1.86 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did Dropbox generate in fiscal 2025?
Dropbox generated $930.8M of free cash flow in fiscal 2025.
What was Dropbox's revenue last quarter?
In its most recent reported quarter (2026 Q2), Dropbox reported revenue of $631.5M.
How much debt does Dropbox have?
Dropbox reported $2.83B of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of Dropbox are outstanding?
Dropbox reported a weighted average of 224.8 million basic shares outstanding in 2026 Q2.
What is Dropbox's market cap?
Based on its latest closing price, Dropbox (DBX) has a market capitalization of about $8.07B.
When does Dropbox's fiscal year end?
Dropbox's fiscal year end, as registered with the SEC, is December 31.
Where is Dropbox headquartered?
Dropbox lists its business address in San Francisco, California in its SEC filings.