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Dropbox Inc
NASDAQ:DBX

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Dropbox Inc
NASDAQ:DBX
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Price: 27.09 USD 0.41% Market Closed
Market Cap: $6.1B

Dropbox Inc
Investor Relations

Dropbox makes software that helps people store, sync, share, and organize files online. Its main product is a cloud-based file workspace that lets users keep documents, photos, videos, and project files in one place and access them from different devices. It also offers tools for team collaboration, document workflows, and secure file sharing, which makes it useful for both individual users and workplaces. The company sells subscriptions to consumers, small businesses, and larger organizations. People pay Dropbox for extra storage, admin controls, security features, and collaboration tools that go beyond basic free file storage. It also earns money from business plans that centralize team files and from add-on services that help customers manage work more efficiently. Dropbox sits between the device, the cloud, and the workplace. Instead of being a full office suite or a pure infrastructure provider, it focuses on making file access and sharing simple across different systems. That narrow role gives it a clear place in the workflow: it helps users keep important content organized, portable, and easy to share without needing to move everything into one company’s hardware or software ecosystem.

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Last Earnings Call
Fiscal Period
Q1 2026
Call Date
May 7, 2026
AI Summary
Q1 2026

Revenue beat: Dropbox said Q1 revenue came in above the high end of guidance, with revenue up 2% year over year excluding FormSwift and operating margin also above plan.

Paying users improved: Paying users rose sequentially by about 14,000, better than management had expected, helped by retention strength and better gross adds in Individuals.

Guidance raised: Dropbox lifted full-year revenue, operating margin, and free cash flow outlooks, and now expects paying user trends to be slightly positive for the year.

Core business traction: Management said retention, pricing, packaging, checkout, onboarding, and product simplification are starting to stabilize the Core business and improve the growth trend.

Dash still early: Dash adoption is still limited, but engagement signals are encouraging and management said the near-term growth push remains centered on the existing Dropbox base.

AI strategy: Dropbox is prioritizing embedding Dash into the core product experience rather than building a separate surface, while also exploring a stand-alone opportunity over time.

Key Financials
Revenue
$629 million
Revenue excluding FormSwift
up 200 basis points year over year
Constant currency revenue
$620 million
Total ARR
$2.56 billion
Paying users
18.09 million
Average revenue per paying user
$141.18
Gross margin
81.1%
Operating margin
40.1%
Net income
$180 million
Diluted EPS
$0.76
Cash flow from operations
$205 million
Unlevered free cash flow
$236 million
Unlevered free cash flow per share
$1
Cash and short-term investments
$1.29 billion
Share repurchases
approximately 14.3 million shares
Share repurchase spend
approximately $367 million
Remaining share repurchase authorization
approximately $800 million
Q2 revenue guidance
$624 million to $627 million
Q2 operating margin guidance
approximately 38.5%
Q2 diluted weighted average shares
226 million to 231 million
Full-year revenue guidance
$2.497 billion to $2.512 billion
Full-year operating margin guidance
39.5% to 40%
Full-year diluted weighted average shares
222 million to 227 million
Earnings Call Recording
Other Earnings Calls

Management

Mr. Andrew W. Houston
Co-Founder, Interim President, CEO & Chairman
No Bio Available
Mr. Timothy J. Regan CPA
Chief Financial Officer
No Bio Available
Mr. Bart E. Volkmer Esq.
Chief Legal Officer
No Bio Available
Mr. Eric Cox
Chief Customer Officer
No Bio Available
Ms. Saman Asheer
Chief Communications Officer
No Bio Available
Ms. Melanie Collins
Chief People Officer
No Bio Available

Contacts

Address
CALIFORNIA
San Francisco
1800 Owens St Ste 200
Contacts
+14159867057.0
www.dropbox.com
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