DROPBOX, INC.

EDGAR

Annual consolidated revenue for 2025: about USD 2.521B, using the latest reported figures. The previous period, 2024, was about USD 2.548B.

Watchlist

Latest quarter

Revenue

632 million USD

2026 Q2 · USD

Exact inputs and evidence

Operating margin

26.1%

2026 Q2 · %

Exact inputs and evidence
  • Operating Income: 164800000 USD Source
  • Revenue: 631500000 USD Source

Operating cash flow

239 million USD

2026 Q2 · USD

Exact inputs and evidence
  • Operating Cash Flow: 443000000 USD Source
  • Operating Cash Flow: 204500000 USD Source

Free cash flow

235 million USD

2026 Q2 · USD

Exact inputs and evidence
  • Operating Cash Flow: 443000000 USD Source
  • Operating Cash Flow: 204500000 USD Source
  • Capital Expenditure: 4500000 USD Source
  • Capital Expenditure: 1200000 USD Source
Cash and cash equivalents
1.06 billion USD Source
Exact value

1056200000 USD

Long-term debt including current maturities
Not available
Shares outstanding
Not available

Trailing twelve months

The four most recent complete quarters added together. This gives a full-year view that includes the latest quarterly results.

Revenue

2.53 billion USD

2025-07-01 – 2026-06-30

Exact inputs and evidence
  • Revenue: 634400000 USD · 2025-07-01 – 2025-09-30 Source
  • Revenue: 2521000000 USD · 2025-01-01 – 2025-12-31 Source
  • Revenue: 1884800000 USD · 2025-01-01 – 2025-09-30 Source
  • Revenue: 629500000 USD · 2026-01-01 – 2026-03-31 Source
  • Revenue: 631500000 USD · 2026-04-01 – 2026-06-30 Source

Net income

443 million USD

2025-07-01 – 2026-06-30

Exact inputs and evidence
  • Net income: 123800000 USD · 2025-07-01 – 2025-09-30 Source
  • Net income: 508400000 USD · 2025-01-01 – 2025-12-31 Source
  • Net income: 399700000 USD · 2025-01-01 – 2025-09-30 Source
  • Net income: 114500000 USD · 2026-01-01 – 2026-03-31 Source
  • Net income: 95800000 USD · 2026-04-01 – 2026-06-30 Source

Operating cash flow

981 million USD

2025-07-01 – 2026-06-30

Exact inputs and evidence
  • Operating cash flow: 716400000 USD · 2025-01-01 – 2025-09-30 Source
  • Operating cash flow: 414300000 USD · 2025-01-01 – 2025-06-30 Source
  • Operating cash flow: 951800000 USD · 2025-01-01 – 2025-12-31 Source
  • Operating cash flow: 716400000 USD · 2025-01-01 – 2025-09-30 Source
  • Operating cash flow: 204500000 USD · 2026-01-01 – 2026-03-31 Source
  • Operating cash flow: 443000000 USD · 2026-01-01 – 2026-06-30 Source
  • Operating cash flow: 204500000 USD · 2026-01-01 – 2026-03-31 Source

Capital expenditure

23.4 million USD

2025-07-01 – 2026-06-30

Exact inputs and evidence
  • Capital expenditure: 10500000 USD · 2025-01-01 – 2025-09-30 Source
  • Capital expenditure: 2100000 USD · 2025-01-01 – 2025-06-30 Source
  • Capital expenditure: 21000000 USD · 2025-01-01 – 2025-12-31 Source
  • Capital expenditure: 10500000 USD · 2025-01-01 – 2025-09-30 Source
  • Capital expenditure: 1200000 USD · 2026-01-01 – 2026-03-31 Source
  • Capital expenditure: 4500000 USD · 2026-01-01 – 2026-06-30 Source
  • Capital expenditure: 1200000 USD · 2026-01-01 – 2026-03-31 Source

Free cash flow

957 million USD

2025-07-01 – 2026-06-30

Exact inputs and evidence
  • Operating cash flow: 716400000 USD · 2025-01-01 – 2025-09-30 Source
  • Operating cash flow: 414300000 USD · 2025-01-01 – 2025-06-30 Source
  • Operating cash flow: 951800000 USD · 2025-01-01 – 2025-12-31 Source
  • Operating cash flow: 716400000 USD · 2025-01-01 – 2025-09-30 Source
  • Operating cash flow: 204500000 USD · 2026-01-01 – 2026-03-31 Source
  • Operating cash flow: 443000000 USD · 2026-01-01 – 2026-06-30 Source
  • Operating cash flow: 204500000 USD · 2026-01-01 – 2026-03-31 Source
  • Capital expenditure: 10500000 USD · 2025-01-01 – 2025-09-30 Source
  • Capital expenditure: 2100000 USD · 2025-01-01 – 2025-06-30 Source
  • Capital expenditure: 21000000 USD · 2025-01-01 – 2025-12-31 Source
  • Capital expenditure: 10500000 USD · 2025-01-01 – 2025-09-30 Source
  • Capital expenditure: 1200000 USD · 2026-01-01 – 2026-03-31 Source
  • Capital expenditure: 4500000 USD · 2026-01-01 – 2026-06-30 Source
  • Capital expenditure: 1200000 USD · 2026-01-01 – 2026-03-31 Source

Company performance

Up to ten complete financial years · consolidated figures

Includes later revisions to earlier periods. Annual charts exclude incomplete years.

Latest filing recorded: 2026-10-28.

Financial data available through: 2025-12-31.

Coverage by financial measure
  • Revenue: 10 of 11 periods available· newest 2025-12-31
  • Operating income: 10 of 11 periods available· newest 2025-12-31
  • Net income: 10 of 11 periods available· newest 2025-12-31
  • Operating cash flow: 10 of 11 periods available· newest 2025-12-31
  • Capital expenditure: 10 of 11 periods available· newest 2025-12-31
  • Total assets: 9 of 11 periods available· newest 2025-12-31
  • Total liabilities: 9 of 11 periods available· newest 2025-12-31
  • Current assets: 9 of 11 periods available· newest 2025-12-31
  • Current liabilities: 9 of 11 periods available· newest 2025-12-31
  • Cash and cash equivalents: 10 of 11 periods available· newest 2025-12-31
  • long term debt: No compatible figures in this window
  • shares outstanding: No compatible figures in this window

Coverage describes values retained in this snapshot. Missing values are not zero; loading limits are reported separately.

What changed year over year

Latest complete year compared with the corresponding period one year earlier. These are measured changes; they do not establish their business causes.

  • Revenue

    -1.1%

    Prior period

    USD 2.55 billion

    –

    Current period

    USD 2.52 billion

    –

    Exact inputs and evidence

    2521000000 − 2548200000 = -27200000 USD

    2548200000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    2521000000 USD · 2025-01-01 – 2025-12-31

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  • Net income

    +12.4%

    Prior period

    USD 452.3 million

    –

    Current period

    USD 508.4 million

    –

    Exact inputs and evidence

    508400000 − 452300000 = 56100000 USD

    452300000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    508400000 USD · 2025-01-01 – 2025-12-31

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  • Operating cash flow

    +6.5%

    Prior period

    USD 894.1 million

    –

    Current period

    USD 951.8 million

    –

    Exact inputs and evidence

    951800000 − 894100000 = 57700000 USD

    894100000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    951800000 USD · 2025-01-01 – 2025-12-31

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  • Capital expenditure

    -6.7%

    Prior period

    USD 22.5 million

    –

    Current period

    USD 21 million

    –

    Exact inputs and evidence

    21000000 − 22500000 = -1500000 USD

    22500000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    21000000 USD · 2025-01-01 – 2025-12-31

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Where revenue goes

How a period’s revenue divides into costs and what remains as profit. Items marked Derived are calculated by subtraction from reported figures.

2025 2025-01-01 – 2025-12-31

  • Revenue USD 2.52 billion 100% of revenue
  • Cost of revenue USD 500.8 million 20% of revenue
  • Operating expenses USD 1.33 billion 53% of revenue
  • Operating income USD 689.1 million 27% of revenue
  • Tax, interest and other Derived USD 180.7 million 7.2% of revenue
  • Net income USD 508.4 million 20% of revenue

Cash

  • Operating cash flow USD 951.8 million 38% of revenue
  • Capital expenditure USD 21 million 0.8% of revenue
  • Free cash flow Derived USD 930.8 million 37% of revenue

Share of revenue by period

  • Net income
  • Tax, interest and other
  • Operating costs
  • 2016 Operating loss: operating costs were 123% of revenue.
  • 2017 Operating loss: operating costs were 110% of revenue.
  • 2018 Operating loss: operating costs were 135% of revenue.
  • 2019 Operating loss: operating costs were 105% of revenue.
  • 2020 Operating loss: operating costs were 114% of revenue.
  • 2021 Net income was higher than operating income, so the split is not drawn.
  • 2022 Net income was higher than operating income, so the split is not drawn.
  • 2023 18%78%
  • 2024 18%81%
  • 2025 20%73%
Values and sources
Revenue breakdown by annual reporting period
PeriodRevenueOperating costsOperating incomeTax, interest and otherNet incomeFree cash flowSource
2016 2016-01-01 – 2016-12-31844800000 1038300000 Derived -193500000 16700000 Derived -210200000 137400000 Derived
Source
2017 2017-01-01 – 2017-12-311106800000 1220500000 Derived -113700000 -2000000 Derived -111700000 305000000 Derived
Source
2018 2018-01-01 – 2018-12-311391700000 1885700000 Derived -494000000 -9100000 Derived -484900000 362400000 Derived
Source
2019 2019-01-01 – 2019-12-311661300000 1741800000 Derived -80500000 -27800000 Derived -52700000 392400000 Derived
Source
2020 2020-01-01 – 2020-12-311913900000 2190900000 Derived -277000000 -20700000 Derived -256300000 490700000 Derived
Source
2021 2021-01-01 – 2021-12-312157900000 1883500000 Derived 274400000 -61400000 Derived 335800000 707700000 Derived
Source
2022 2022-01-01 – 2022-12-312324900000 2143600000 Derived 181300000 -371900000 Derived 553200000 763500000 Derived
Source
2023 2023-01-01 – 2023-12-312501600000 1962900000 Derived 538700000 85100000 Derived 453600000 759400000 Derived
Source
2024 2024-01-01 – 2024-12-312548200000 2062000000 Derived 486200000 33900000 Derived 452300000 871600000 Derived
Source
2025 2025-01-01 – 2025-12-312521000000 1831900000 Derived 689100000 180700000 Derived 508400000 930800000 Derived
Source

Amounts are exact, in USD.

Growth

Sales over time and how quickly they are changing.

Revenue

Revenue reported for each complete financial period.

USD 2.5B 2025
Revenue historyRevenue reported for each complete financial period. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.2.8B2.1B1.4B688.0M0.0201620212025
Values and sources
Revenue values and source evidence
PeriodSeriesValue(USD)Source evidence
2016Revenue844800000
2017Revenue1106800000
2018Revenue1391700000
2019Revenue1661300000
2020Revenue1913900000
2021Revenue2157900000
2022Revenue2324900000
2023Revenue2501600000
2024Revenue2548200000
2025Revenue2521000000

Revenue growth

Change in revenue from the same financial period one year earlier.

-1.1% 2025
Revenue growth historyChange in revenue from the same financial period one year earlier. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.33.6%24.3%15.0%5.7%-3.6%201620212025
Values and sources
Revenue growth values and source evidence
PeriodSeriesValueSource evidence
2016Year over yearNo prior comparable period
2017Year over year31%
2018Year over year25.7%
2019Year over year19.4%
2020Year over year15.2%
2021Year over year12.7%
2022Year over year7.7%
2023Year over year7.6%
2024Year over year1.9%
2025Year over year-1.1%

Profit and cash

How much revenue becomes profit, and how much cash operations generate.

Profit margins

Operating income, net income and free cash flow as a share of revenue.

Operating margin 27.3% 2025
Net margin 20.2% 2025
Free cash flow margin 36.9% 2025
Profit margins historyOperating income, net income and free cash flow as a share of revenue. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.43%22%1%-20%-41%201620212025
  • Operating margin
  • Net margin
  • Free cash flow margin
Values and sources
Profit margins values and source evidence
PeriodSeriesValueSource evidence
2016Operating margin-22.9%
2017Operating margin-10.3%
2018Operating margin-35.5%
2019Operating margin-4.8%
2020Operating margin-14.5%
2021Operating margin12.7%
2022Operating margin7.8%
2023Operating margin21.5%
2024Operating margin19.1%
2025Operating margin27.3%
2016Net margin-24.9%
2017Net margin-10.1%
2018Net margin-34.8%
2019Net margin-3.2%
2020Net margin-13.4%
2021Net margin15.6%
2022Net margin23.8%
2023Net margin18.1%
2024Net margin17.7%
2025Net margin20.2%
2016Free cash flow margin16.3%
2017Free cash flow margin27.6%
2018Free cash flow margin26%
2019Free cash flow margin23.6%
2020Free cash flow margin25.6%
2021Free cash flow margin32.8%
2022Free cash flow margin32.8%
2023Free cash flow margin30.4%
2024Free cash flow margin34.2%
2025Free cash flow margin36.9%

Operating cash flow

Cash generated by the company’s normal business operations.

USD 951.8M 2025
Operating cash flow historyCash generated by the company’s normal business operations. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.1.0B771.0M514.0M257.0M0.0201620212025
Values and sources
Operating cash flow values and source evidence
PeriodSeriesValue(USD)Source evidence
2016Operating cash flow252600000
2017Operating cash flow330300000
2018Operating cash flow425400000
2019Operating cash flow528500000
2020Operating cash flow570800000
2021Operating cash flow729800000
2022Operating cash flow797300000
2023Operating cash flow783700000
2024Operating cash flow894100000
2025Operating cash flow951800000

Free cash flow

Operating cash flow minus capital expenditure for the same period and unit.

USD 930.8M 2025
Free cash flow historyOperating cash flow minus capital expenditure for the same period and unit. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.1.0B753.9M502.6M251.3M0.0201620212025
Values and sources
Free cash flow values and source evidence
PeriodSeriesValue(USD)Source evidence
2016Free cash flow137400000
2017Free cash flow305000000
2018Free cash flow362400000
2019Free cash flow392400000
2020Free cash flow490700000
2021Free cash flow707700000
2022Free cash flow763500000
2023Free cash flow759400000
2024Free cash flow871600000
2025Free cash flow930800000

Balance sheet

Liabilities and short-term ability to meet obligations at each period end.

Liabilities to assets

Total liabilities as a share of total assets.

163.2% 2025
Liabilities to assets historyTotal liabilities as a share of total assets. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.176%132%88%44%0%2016-12-3120212025
Values and sources
Liabilities to assets values and source evidence
PeriodSeriesValueSource evidence
2016-12-31Liabilities / assetsNot reportedNo source recorded
2017Liabilities / assets89.9%
2018Liabilities / assets60%
2019Liabilities / assets70.1%
2020Liabilities / assets86%
2021Liabilities / assets109.5%
2022Liabilities / assets109.9%
2023Liabilities / assets105.6%
2024Liabilities / assets122.6%
2025Liabilities / assets163.2%

Current assets to current liabilities

Current assets divided by current liabilities.

0.63× 2025
Current assets to current liabilities historyCurrent assets divided by current liabilities. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.1.70×1.27×0.85×0.42×0.00×2016-12-3120212025
Values and sources
Current assets to current liabilities values and source evidence
PeriodSeriesValueSource evidence
2016-12-31Current assets / current liabilitiesNot reportedNo source recorded
2017Current assets / current liabilities0.7×
2018Current assets / current liabilities1.45×
2019Current assets / current liabilities1.23×
2020Current assets / current liabilities1.13×
2021Current assets / current liabilities1.57×
2022Current assets / current liabilities1.25×
2023Current assets / current liabilities1.26×
2024Current assets / current liabilities1.44×
2025Current assets / current liabilities0.63×

Cash generation

Compare reported profit with operating cash and capital spending. Free cash flow is calculated as operating cash flow minus capital expenditure when both exact, consolidated amounts match the same period and unit.

Cash generation by annual reporting period
PeriodNet incomeOperating cash flowCapital expenditureFree cash flow
2016 2016-01-01 – 2016-12-31
−USD 210.2 million
Exact value

Exact value: -210200000 USD

2016-01-01 – 2016-12-31: -210200000 USD Inspect Net Income Open source
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USD 252.6 million
Exact value

Exact value: 252600000 USD

2016-01-01 – 2016-12-31: 252600000 USD Inspect Operating Cash Flow Open source
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USD 115.2 million
Exact value

Exact value: 115200000 USD

2016-01-01 – 2016-12-31: 115200000 USD Inspect Capital Expenditure Open source
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USD 137.4 million
Calculation and evidence

252600000 − 115200000 USD

Exact free cash flow: 137400000 USD

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2017 2017-01-01 – 2017-12-31
−USD 111.7 million
Exact value

Exact value: -111700000 USD

2017-01-01 – 2017-12-31: -111700000 USD Inspect Net Income Open source
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USD 330.3 million
Exact value

Exact value: 330300000 USD

2017-01-01 – 2017-12-31: 330300000 USD Inspect Operating Cash Flow Open source
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USD 25.3 million
Exact value

Exact value: 25300000 USD

2017-01-01 – 2017-12-31: 25300000 USD Inspect Capital Expenditure Open source
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USD 305 million
Calculation and evidence

330300000 − 25300000 USD

Exact free cash flow: 305000000 USD

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2018 2018-01-01 – 2018-12-31
−USD 484.9 million
Exact value

Exact value: -484900000 USD

2018-01-01 – 2018-12-31: -484900000 USD Inspect Net Income Open source
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USD 425.4 million
Exact value

Exact value: 425400000 USD

2018-01-01 – 2018-12-31: 425400000 USD Inspect Operating Cash Flow Open source
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USD 63 million
Exact value

Exact value: 63000000 USD

2018-01-01 – 2018-12-31: 63000000 USD Inspect Capital Expenditure Open source
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USD 362.4 million
Calculation and evidence

425400000 − 63000000 USD

Exact free cash flow: 362400000 USD

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2019 2019-01-01 – 2019-12-31
−USD 52.7 million
Exact value

Exact value: -52700000 USD

2019-01-01 – 2019-12-31: -52700000 USD Inspect Net Income Open source
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USD 528.5 million
Exact value

Exact value: 528500000 USD

2019-01-01 – 2019-12-31: 528500000 USD Inspect Operating Cash Flow Open source
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USD 136.1 million
Exact value

Exact value: 136100000 USD

2019-01-01 – 2019-12-31: 136100000 USD Inspect Capital Expenditure Open source
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USD 392.4 million
Calculation and evidence

528500000 − 136100000 USD

Exact free cash flow: 392400000 USD

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2020 2020-01-01 – 2020-12-31
−USD 256.3 million
Exact value

Exact value: -256300000 USD

2020-01-01 – 2020-12-31: -256300000 USD Inspect Net Income Open source
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USD 570.8 million
Exact value

Exact value: 570800000 USD

2020-01-01 – 2020-12-31: 570800000 USD Inspect Operating Cash Flow Open source
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USD 80.1 million
Exact value

Exact value: 80100000 USD

2020-01-01 – 2020-12-31: 80100000 USD Inspect Capital Expenditure Open source
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USD 490.7 million
Calculation and evidence

570800000 − 80100000 USD

Exact free cash flow: 490700000 USD

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2021 2021-01-01 – 2021-12-31
USD 335.8 million
Exact value

Exact value: 335800000 USD

2021-01-01 – 2021-12-31: 335800000 USD Inspect Net Income Open source
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USD 729.8 million
Exact value

Exact value: 729800000 USD

2021-01-01 – 2021-12-31: 729800000 USD Inspect Operating Cash Flow Open source
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USD 22.1 million
Exact value

Exact value: 22100000 USD

2021-01-01 – 2021-12-31: 22100000 USD Inspect Capital Expenditure Open source
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USD 707.7 million
Calculation and evidence

729800000 − 22100000 USD

Exact free cash flow: 707700000 USD

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2022 2022-01-01 – 2022-12-31
USD 553.2 million
Exact value

Exact value: 553200000 USD

2022-01-01 – 2022-12-31: 553200000 USD Inspect Net Income Open source
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USD 797.3 million
Exact value

Exact value: 797300000 USD

2022-01-01 – 2022-12-31: 797300000 USD Inspect Operating Cash Flow Open source
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USD 33.8 million
Exact value

Exact value: 33800000 USD

2022-01-01 – 2022-12-31: 33800000 USD Inspect Capital Expenditure Open source
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USD 763.5 million
Calculation and evidence

797300000 − 33800000 USD

Exact free cash flow: 763500000 USD

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2023 2023-01-01 – 2023-12-31
USD 453.6 million
Exact value

Exact value: 453600000 USD

2023-01-01 – 2023-12-31: 453600000 USD Inspect Net Income Open source
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USD 783.7 million
Exact value

Exact value: 783700000 USD

2023-01-01 – 2023-12-31: 783700000 USD Inspect Operating Cash Flow Open source
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USD 24.3 million
Exact value

Exact value: 24300000 USD

2023-01-01 – 2023-12-31: 24300000 USD Inspect Capital Expenditure Open source
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USD 759.4 million
Calculation and evidence

783700000 − 24300000 USD

Exact free cash flow: 759400000 USD

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2024 2024-01-01 – 2024-12-31
USD 452.3 million
Exact value

Exact value: 452300000 USD

2024-01-01 – 2024-12-31: 452300000 USD Inspect Net Income Open source
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USD 894.1 million
Exact value

Exact value: 894100000 USD

2024-01-01 – 2024-12-31: 894100000 USD Inspect Operating Cash Flow Open source
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USD 22.5 million
Exact value

Exact value: 22500000 USD

2024-01-01 – 2024-12-31: 22500000 USD Inspect Capital Expenditure Open source
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USD 871.6 million
Calculation and evidence

894100000 − 22500000 USD

Exact free cash flow: 871600000 USD

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2025 2025-01-01 – 2025-12-31
USD 508.4 million
Exact value

Exact value: 508400000 USD

2025-01-01 – 2025-12-31: 508400000 USD Inspect Net Income Open source
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USD 951.8 million
Exact value

Exact value: 951800000 USD

2025-01-01 – 2025-12-31: 951800000 USD Inspect Operating Cash Flow Open source
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USD 21 million
Exact value

Exact value: 21000000 USD

2025-01-01 – 2025-12-31: 21000000 USD Inspect Capital Expenditure Open source
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USD 930.8 million
Calculation and evidence

951800000 − 21000000 USD

Exact free cash flow: 930800000 USD

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Capital expenditure uses the canonical mapped positive-spending convention. A missing, ambiguous, incompatible, or negative-sign input is left blank. Values use the latest reported version.

Dataset coverage and company identifiers

Coverage reflects filings processed into this Fundies dataset; it does not imply every source filing is loaded.

145 filings · 2,687 latest values · 2,687 originally reported values

Dataset published . Source filing dates and reporting periods are shown separately.

Identifiers: 0001467623, 1467623, DBX, edgar:1467623

Also known as DROPBOX, INC., Dropbox, Inc., Evenflow, Inc.