NASDAQ$DBX

Dropbox Inc · Q1 2025 earnings

Q1 2025 earnings · · After market close · Investor relations

Briefing

Dropbox reported Q1 2025 revenue of $624.7M with net income of $150.3M and diluted EPS of $0.51.

Revenue was $624.7 million; net income was $150.3 million and diluted EPS was $0.51. Paying users and average revenue per user support recurring revenue; AI-powered workflow tools are a growth focus.

  • Q1 revenue $624.7M.
  • Net income $150.3M; diluted EPS $0.51.
  • Subscription base and ARPU underpin cash flows.
  • Competition in cloud storage and AI features.

Headline financials

Total Revenue

$625M

Previous: $631M-1.0%
EPS (adj)

$0.51

Previous: $0.39+30.8%
Paying Users

18.2M

Previous: 18.2M+0.0%
ARPU

$139.26

Previous: $139.59-0.2%
Total ARR

$2.55B

Previous: $2.56B-0.2%
Capital Expenditures

-$100K

Previous: -$9.2M+98.9%
Net Income

$150M

Previous: $132M+13.6%
Operating Income

$184M

Previous: $144M+28.1%
Gross Profit

$508M

Previous: $526M-3.3%
R&D Expense

$178M

Previous: $219M-18.6%

Revenue & EPS history

Dropbox · Revenue · Quarterly

$625M

Q1 2025-1%vs Q1 2024
Beat estimate in 11 of 15 quarters(73%)
ActualEstimate

Forward guidance

Fintech and software outlook tied to user growth, take rates, and operating leverage.

Tailwinds

  • Platform scale and subscription or GMV growth.
  • AI and product expansion opportunities.

Headwinds

  • Credit losses or competitive pricing pressure.
  • Macro sensitivity for SMB and consumer spend.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q1 2025

Historical avgQ1 2025

-1.1%

Avg return

Earnings day

-2.7%

Avg return

5 days after

-2.4%

Avg return

30 days after

38%

12 / 32 earnings

Positive

+22.5%

Q4 2019

Best reaction

-22.6%

Q4 2023

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+15.2%+4.5%+9.7%
Q4 2025+2.7%-1.2%+1.2%
Q3 2025+7.6%+7.6%+2.3%
Q1 2025-0.7%-0.3%-0.7%
Q4 2024-16.2%-16.6%-16.9%
Q3 2024-3.1%+0.1%+4.2%
Q2 2024+3.5%+3.7%+6.5%
Q1 2024-0.8%+3.0%-8.1%
Q4 2023-22.6%-25.2%-26.5%
Q3 2023-0.6%-1.0%+10.0%
Q2 2023+6.3%+7.5%+7.7%
Q1 2023+7.2%+6.6%+19.1%
Q4 2022-12.2%-11.9%-17.2%
Q3 2022+3.5%+4.4%+12.8%
Q2 2022-0.8%+1.4%-10.8%
Q1 2022-5.6%-7.8%+1.9%
Q4 2021-7.6%-13.3%-7.5%
Q3 2021-9.5%-7.1%-22.0%
Q2 2021+2.5%+3.0%+3.1%
Q1 2021-0.6%+2.8%+14.6%
Q4 2020-2.7%-3.8%+11.5%
Q3 2020+3.2%-0.4%+9.7%
Q2 2020-10.9%-15.3%-14.9%
Q1 2020+7.5%+8.8%+8.0%
Q4 2019+22.5%+12.7%-4.0%
Q3 2019-3.7%-8.0%-11.1%
Q2 2019-9.9%-11.5%-8.6%
Q1 2019-0.7%-6.3%-2.7%
Q4 2018-8.0%-4.5%-14.8%
Q3 2018+2.2%-5.4%-14.0%
Q2 2018-1.6%-8.2%-15.2%
Q1 2018-0.4%-5.9%-4.6%
Q4 2017
Q3 2017
Q2 2017
Q1 2017
Q4 2016
Q3 2016
Q2 2016
Q1 2016

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