Dropbox Financial Statements
NASDAQ: DBXTechnologyComputer Software: Prepackaged SoftwareUSD
Market open · Delayed 15 min · as of Oct 9, 9:47 AM ET
Dropbox revenue and earnings
In fiscal 2025, Dropbox generated $2.52 billion in revenue, down 1.1% from fiscal 2024, the first decline in the 10 years shown. Net income was $508.4 million (+12.4% year over year), for a net margin of 20.2% versus a median of 17.7% in the prior 5 years. Gross margin was 80.1% (down from 82.5%) and operating margin 27.3%.
Diluted earnings per share came in at $1.86, up from $1.40. Over the last 5 fiscal years, DBX's revenue has grown at a 5.7% compound annual rate.
Summary generated from market data by MetaCap's automated system. Methodology
Dropbox income statement (annual)
| Fiscal year (USD) | FY 20252025-12-31 | FY 20242024-12-31 | FY 20232023-12-31 | FY 20222022-12-31 | FY 20212021-12-31 | FY 20202020-12-31 | FY 20192019-12-31 | FY 20182018-12-31 | FY 20172017-12-31 | FY 20162016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 2.52B | 2.55B | 2.50B | 2.32B | 2.16B | 1.91B | 1.66B | 1.39B | 1.11B | 844.80M |
| Revenue growth (YoY) | -1.07% | +1.86% | +7.60% | +7.74% | +12.75% | +15.20% | +19.37% | +25.74% | +31.01% | — |
| Cost of Revenue | 500.80M | 445.10M | 478.50M | 444.20M | 444.20M | 414.60M | 411.00M | 394.70M | 368.90M | 390.60M |
| Gross Profit | 2.02B | 2.10B | 2.02B | 1.88B | 1.71B | 1.50B | 1.25B | 997.00M | 737.90M | 454.20M |
| Operating Expenses | 1.33B | 1.62B | 1.48B | 1.70B | 1.44B | 1.78B | 1.33B | 1.49B | 851.60M | 647.70M |
| Research & Development | 732.00M | 914.90M | 936.50M | 891.90M | 755.90M | 727.50M | 662.10M | 768.20M | 380.30M | 289.70M |
| Selling, General & Admin | 600.40M | 701.90M | 703.10M | 632.30M | 652.10M | 650.60M | 668.70M | 722.80M | 471.30M | 358.00M |
| Operating Income | 689.10M | 486.20M | 538.70M | 181.30M | 274.40M | -277.00M | -80.50M | -494.00M | -113.70M | -193.50M |
| Other Income (Expense) | 7.10M | 9.70M | -3.70M | 8.10M | 30.10M | 25.10M | 16.00M | 6.80M | 13.20M | 4.90M |
| Pretax Income | 617.60M | 509.80M | 554.40M | 192.70M | 299.30M | -250.20M | -52.00M | -480.10M | -111.50M | -205.00M |
| Income Tax | 109.20M | 57.50M | 100.80M | -360.50M | -36.50M | 6.10M | 700.00K | 4.80M | 200.00K | 5.20M |
| Net Income | 508.40M | 452.30M | 453.60M | 553.20M | 335.80M | -256.30M | -52.70M | -484.90M | -111.70M | -210.20M |
| Net Income growth (YoY) | +12.40% | -0.29% | -18.00% | +64.74% | — | — | — | — | — | — |
| EPS (Basic) | 1.89 | 1.42 | 1.33 | 1.53 | 0.87 | -0.62 | -0.13 | -1.35 | -0.57 | -1.11 |
| EPS (Diluted) | 1.86 | 1.40 | 1.31 | 1.52 | 0.85 | -0.62 | -0.13 | -1.35 | -0.57 | -1.11 |
| Shares Outstanding (Basic) | 268.30M | 318.20M | 341.20M | 361.20M | 388.00M | 414.30M | 411.60M | 358.60M | 195.90M | 189.10M |
| Shares Outstanding (Diluted) | 272.80M | 323.40M | 345.60M | 363.30M | 395.80M | 414.30M | 411.60M | 358.60M | 195.90M | 189.10M |
| EBITDA | 820.70M | 595.50M | 678.40M | 322.20M | 410.10M | -131.90M | 79.40M | -335.40M | 57.00M | -19.70M |
| Gross Margin | 80.13% | 82.53% | 80.87% | 80.89% | 79.42% | 78.34% | 75.26% | 71.64% | 66.67% | 53.76% |
| Operating Margin | 27.33% | 19.08% | 21.53% | 7.80% | 12.72% | -14.47% | -4.85% | -35.50% | -10.27% | -22.90% |
| Net Margin | 20.17% | 17.75% | 18.13% | 23.79% | 15.56% | -13.39% | -3.17% | -34.84% | -10.09% | -24.88% |
This table shows 10 annual periods of Dropbox's income statement, from FY 2025 back to FY 2016, across 19 line items including revenue, cost of revenue, gross profit. Values in USD; B = billions, M = millions. Fiscal periods follow DBX's reporting calendar. What is a income statement?