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Dropbox DBX Q4 2025 Annual earnings

Reported February 19, 2026 · After market close

Revenue$636.2MBeat by $7.3M
EPS$0.68Beat by $0.02
Revenue estimate$628.9M
EPS estimate$0.66

Next report

Nov 5, 2026 (in a month)
Revenue estimate$629.7M
EPS estimate$0.73

Financials

Q4 2025

Income statement

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Revenue$636.2M-1.1%
Gross profit$504.1M-3.6%
Operating income$162.2M+84.5%
Net income$108.7M+5.7%
EPS (diluted)$0.43+30.3%

Balance sheet

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Cash & equivalents$905.9M-33.4%
Total debt$1.6B+108%
Total equity-$1.8B-139%
Total assets$2.8B-14.4%

Cash flow

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Operating cash flow$235.4M+10.1%
CapEx$10.5M+218%
Free cash flow$224.9M+6.8%

Valuation & ratios

Valuation

as of 12/31/25
See full
Market cap$6.96B-23.1%
Enterprise value$7.65B-9.6%
P/E13.7×-6.3×
P/S2.8×-0.8×

Profitability

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Gross margin80.1%-2.4pp
Operating margin27.3%+8.3pp
Net margin20.2%+2.4pp
FCF margin36.9%+2.7pp

Returns & leverage

See full
Current ratio0.6×-0.8×

FAQ

When did Dropbox report Q4 2025 earnings?
Dropbox (DBX) reported Q4 2025 earnings on February 19, 2026 after market close.
What were Dropbox's Q4 2025 revenue and EPS?
Dropbox reported revenue of $636.2M and eps of $0.68 for Q4 2025.
Did Dropbox beat estimates in Q4 2025?
Revenue beat the consensus estimate of $628.9M by $7.3M. EPS beat the consensus estimate of $0.66 by $0.02.
How did Dropbox's Q4 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue declined 1.1% from $643.6M a year earlier and eps declined 6.8% from $0.73.
Where can I find Dropbox's Q4 2025 SEC filings?
You can read the 8-K earnings release (0001467623-26-000003) and the 10-K periodic report (0001467623-26-000008) directly on SEC EDGAR. The filing index links above go to sec.gov.