Wednesday 4 November 2026 Export DBX’s income statement to Excel — free account

Dropbox, Inc.

Dropbox, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $2.5 billion, down 1.07% from fiscal 2024.

Revenue: +0.93%
EPS: −6.52%
Free cash flow: −10.3%
Total debt: +35.3%

Quarter to June 2026, against a year earlier

34.96 0.68 −1.91%

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Market cap: $7.6B
P/E: 19.2×
Fwd P/E: 20.7×
Dividend yield: —
F-score: 7/9
Altman Z: 0.48
Beneish M: −3.07
Dividend safety: n/a

Overview Business Profile Earnings & Analysis Segments Valuation Filings

Dropbox, Inc. (DBX) revenue by segment, product and region

Where the money comes from and where it goes

Fiscal 2025: revenue by regions, and margins
United States	1,421	56.38%
International	1,100	43.62%
Gross margin		80.13%
Operating margin		27.33%
Pre-tax margin		24.50%

Revenue by region $m

Line	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016
United States	1,421 56.38%	1,449 56.84%	1,419 56.74%	1,264 54.38%	1,130 52.37%	999 52.21%	854 51.41%	707 50.77%	576 52.01%	456 53.97%
International	1,100 43.62%	1,100 43.16%	1,082 43.26%	1,061 45.62%	1,028 47.63%	915 47.79%	807 48.59%	685 49.23%	531 47.99%	389 46.03%
Revenue	2,521	2,548	2,502	2,325	2,158	1,914	1,661	1,392	1,107	845

Operating figures as reported in each quarter’s results release or filing

Figure	Quarter	Latest	A year before	Change
Average revenue per paying user	Q2 FY2026	$139.68	$138.32	+0.98%
Paying users	Q2 FY2026	18.2M	18.1M	+0.33%
Total ARR	Q2 FY2026	$2.6B	$2.5B	+0.94%

	Q2 FY2026	Q1 FY2026	Q4 FY2025	Q3 FY2025	Q2 FY2025	Q1 FY2025	Q4 FY2024	Q3 FY2024	Q2 FY2024	Q1 FY2024
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Total ARR	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
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As each company reports them in its 10-K and 10-Q filings, in US dollars. Where a later filing recast a year's segments, the year is shown as recast; a period whose breakdown does not add up to the company's revenue is left out.

Dropbox, Inc. (DBX) revenue by segment, product and region

Where the money comes from and where it goes

Revenue by region $m

Operating figures as reported in each quarter’s results release or filing

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