NASDAQ$DBX

Dropbox Inc · Q4 2025 earnings

Q4 2025 earnings · · After market close · Investor relations

Briefing

Dropbox reported Q4 2025, revenue of $636.2M, net income of $108.7M, diluted EPS of $0.43.

For Q4 2025, Dropbox reported revenue of $636.2M, net income of $108.7M, diluted EPS was $0.43, adjusted diluted EPS was $0.68. Management discusses segment performance, capital allocation, and outlook in the earnings release.

  • Revenue $636.2M.
  • Net income $108.7M.
  • Diluted EPS $0.43.
  • Adjusted diluted EPS $0.68.

Headline financials

Total Revenue

$636M

Previous: $644M-1.1%
EPS (adj)

$0.68

Previous: $0.73-6.8%
Paying Users

18.1M

Previous: 18.2M-0.8%
ARPU

$139.68

Previous: $140.06-0.3%
Total ARR

$2.53B

No prior period
Net Income

$109M

Previous: $103M+5.7%
Operating Income

$162M

Previous: $87.9M+84.5%
Gross Profit

$504M

Previous: $523M-3.6%

Revenue & EPS history

Dropbox · Revenue · Quarterly

$636M

Q4 2025-1.1%vs Q4 2024
Beat estimate in 11 of 15 quarters(73%)
ActualEstimate

Forward guidance

The release discusses Dropbox's outlook for upcoming periods, including capital allocation, operating priorities, and market risks, without relying solely on numeric EPS bridges.

Tailwinds

  • Dropbox cites operational execution and demand trends supporting the outlook.
  • Balance sheet and liquidity actions aim to fund growth and returns.

Headwinds

  • Macro, pricing, and input-cost volatility could pressure margins.
  • Segment mix and one-time items may affect quarter-to-quarter comparability.

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 Q4 2025

Historical avgQ4 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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