Every material Form 8-K Dropbox has filed with the SEC since January 22, 2025, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Dropbox reported third-quarter 2026 revenue of $637.3 million, representing a 0.5% year-over-year increase, alongside GAAP net income of $116.1 million. The company also announced a planned $350.0 million cash acquisition of Tigris Data and the launch of DBX Agent Cloud to expand into AI infrastructure.
Total revenue was $637.3 million for the quarter ended September 30, 2026, up 0.5% year-over-year.
GAAP net income was $116.1 million, and non-GAAP net income reached $197.8 million.
Announced an agreement to acquire Tigris Data for approximately $350.0 million in cash.
Total annual recurring revenue reached $2.555 billion, an increase of 0.8% year-over-year.
Dropbox agreed on November 3, 2026 to buy all outstanding equity of Tigris Data Inc., an object storage platform built for AI workloads, for cash consideration of about $350 million, subject to customary price adjustments. The company also launched DBX Agent Cloud, a storage offering that initially provides standalone object storage, and closing is expected in the fourth quarter of 2026 subject to customary conditions.
Cash consideration of approximately $350 million, subject to customary purchase price adjustments
Definitive agreement entered November 3, 2026; closing expected in the fourth quarter of 2026
DBX Agent Cloud starts with S3-compatible object storage; AI features have rolled out to more than 70,000 teams
Initial rollout focuses on eligible Standard and Advanced teams in the US, UK, and Australia; broader availability planned for 2027
Dropbox announced a reduction of about 9% of its global workforce to align investments with its top product and growth priorities, with estimated cash costs of $27 million to $33 million and $20 million to $25 million of incremental expense. The company also said its preliminary third quarter 2026 results are expected to be in line with or above its guidance ranges for revenue, constant currency revenue and non-GAAP operating margin, and that Chief Technology Officer Ali Dasdan will step down on November 18, 2026.
Global workforce reduction of approximately 9%, with most cash payments and expense recognized in Q4 2026
Estimated total cash expenditures of $27 million to $33 million; incremental expense of $20 million to $25 million
Preliminary Q3 2026 results expected in line with or above guidance; full results due November 5, 2026
CTO Ali Dasdan steps down effective November 18, 2026, with a $515,000 pro rata bonus and a lump sum payment of about $1.3 million
Dropbox reported results for the quarter ended June 30, 2026, with revenue up 0.9% year over year to $631.5 million. GAAP net income and GAAP diluted earnings per share declined from a year earlier, while non-GAAP diluted earnings per share rose to $0.75 from $0.71. The filing does not include forward guidance; the company said it will provide guidance on its conference call.
Revenue was $631.5 million, up from $625.7 million; excluding FormSwift, revenue rose 1.7%.
GAAP net income was $95.8 million versus $125.6 million; GAAP diluted EPS was $0.42 versus $0.45.
Non-GAAP diluted EPS was $0.75 versus $0.71; non-GAAP operating margin was 39.7% versus 41.5%.
Common stock repurchases were $330.3 million in the quarter; unlevered free cash flow was $283.5 million.
Dropbox entered a $400 million senior secured revolving credit facility maturing December 11, 2029, with no borrowings outstanding as of June 1, 2026. The company also authorized a new $900 million share repurchase program for its Class A common stock, which the filing says may be used to fund repurchases.
Revolving credit facility provides up to $400 million, expandable to $500 million, and matures December 11, 2029.
As of June 1, 2026, the company had no outstanding loans or letters of credit under the facility.
New share repurchase program authorizes up to an additional $900 million of Class A common stock.
Revolver includes a maximum consolidated leverage ratio covenant of 5.00 to 1.00 and is secured by substantially all company assets.
Dropbox said Ashraf Alkarmi, its General Manager, Core, will become Co-Chief Executive Officer and a board member effective May 26, 2026, alongside co-founder Andrew Houston. After a transition period, Houston is expected to become Executive Chairman and Alkarmi will be the sole CEO. The company also said it expects second quarter and fiscal 2026 results to be in line with or above previously provided guidance ranges.
Ashraf Alkarmi, 47, joined Dropbox in November 2024 and becomes Co-CEO effective May 26, 2026.
Alkarmi's annual base salary is $825,000 from June 1, 2026, with RSUs valued at $12,656,250 vesting over four years.
Dropbox expects Q2 and fiscal 2026 results in line with or above the guidance ranges given in its May 7, 2026 investor supplement.
Michael Torres was appointed Chief Product Officer, effective July 7, 2026.
Dropbox reported first-quarter 2026 revenue of $629.5 million, up 0.8% from a year earlier, and excluding FormSwift, up 2.0%. GAAP net income fell to $114.5 million from $150.3 million, mainly because interest expense rose on additional draws on its term loan, so shareholders see higher sales but lower profit. The filing does not include forward guidance; the company said it will provide guidance on its conference call and website.
Revenue was $629.5 million, up 0.8% year over year; excluding FormSwift, revenue rose 2.0%.
GAAP diluted EPS was $0.48, down from $0.51; non-GAAP diluted EPS was $0.76, up from $0.70.
GAAP operating margin was 27.5%, down from 29.4%; interest expense, net was $36.7 million, up from $14.6 million.
Net cash provided by operating activities was $204.5 million, up from $153.8 million; common stock repurchases were $366.8 million.
Dropbox reported fourth-quarter and fiscal 2025 results. Q4 revenue was $636.2 million, down 1.1% year-over-year, and the company said it exceeded the high end of its revenue and operating margin guidance for the quarter. GAAP diluted EPS rose to $0.43 from $0.34, while non-GAAP diluted EPS fell to $0.68 from $0.73.
Q4 2025 revenue was $636.2 million, down 1.1%; excluding FormSwift, revenue grew 0.4%.
GAAP operating margin was 25.5%, up from 13.7%; non-GAAP operating margin was 38.2%, up from 36.9%.
Non-GAAP net income was $173.9 million, down from $222.6 million, mainly due to a higher tax provision and interest expense on the term loan.
Fiscal 2025 revenue was $2.521 billion, down 1.1%; the company repurchased about 60.4 million shares for $1.7 billion during the year.
Dropbox said CFO Timothy Regan will resign effective December 16, 2025, and Ross Tennenbaum, formerly President at Avalara, will succeed him as Chief Financial Officer on the same date. The company also said its fourth quarter and fiscal 2025 results are expected to be in line with or above previously provided guidance ranges, which matters to shareholders because it is the company's first update on those results in the filing.
Timothy Regan resigns as CFO effective December 16, 2025, and remains a non-executive employee through March 15, 2026, with a one-time $250,000 advisory fee in December 2025
Ross Tennenbaum, 47, appointed CFO effective December 16, 2025, with a $550,000 base salary and a $23,250,000 RSU grant
Dropbox expects fourth quarter and fiscal 2025 results in line with or above guidance ranges given November 6, 2025
Dropbox reported fiscal third-quarter 2025 results for the quarter ended September 30, 2025, in a press release furnished as Exhibit 99.1. Revenue declined 0.7% year over year, while GAAP net income and diluted earnings per share increased from the prior year, and the filing does not include forward guidance, which the company said it would provide on its conference call.
Revenue was $634.4 million, down 0.7% from $638.8 million a year earlier; Total ARR was $2.536 billion, down 1.7%.
GAAP diluted EPS was $0.47, up from $0.34; non-GAAP diluted EPS was $0.74, up from $0.60.
Net cash from operating activities was $302.1 million and free cash flow was $293.7 million, compared with $274.2 million and $270.1 million a year earlier.
Paying users totaled 18.07 million, down from 18.24 million; the filing states no revenue guidance figures.
Dropbox amended its secured credit agreement to allow up to $700 million of additional delayed draw term loans, which may be used only to repay its convertible senior notes due 2026. The company also authorized a new $1.5 billion share repurchase program for its Class A common stock, which the filing describes as subject to market conditions.
First Amendment dated September 9, 2025 provides up to $700 million of 2025 delayed draw term loans, which can be borrowed through March 15, 2026.
Total secured term loan facility under the amended agreement is up to $2.7 billion; $995 million of existing term loans were outstanding as of September 9, 2025.
Delayed draw loans bear interest at term SOFR plus 3.75% or an alternate base rate plus 2.75%, and mature September 9, 2030.
New share repurchase authorization covers up to an additional $1.5 billion of Class A common stock.
Dropbox appointed Sarah Schubach as its Chief Accounting Officer and principal accounting officer, effective August 21, 2025. She previously served as Vice President, Controller since August 2022 and has been with the company since 2013, so the change is an internal promotion of a long-serving finance leader.
Sarah Schubach named Chief Accounting Officer, effective August 21, 2025
Previously Vice President, Controller since August 2022; joined Dropbox in 2013
Filing states no arrangements with others for her appointment and no related-party transactions under Item 404(a)
Dropbox reported second-quarter 2025 results for the quarter ended June 30, 2025, with revenue of $625.7 million, down 1.4% from a year earlier, while GAAP diluted earnings per share rose to $0.45 from $0.34. The filing does not include forward guidance, which the company said it would provide on its earnings call and investor website.
Revenue was $625.7 million, down 1.4% year over year; paying users were 18.13 million, versus 18.22 million a year earlier.
GAAP operating margin was 26.9%, up from 20.0%; the company cited lower employee-related costs from a decrease in headcount.
Free cash flow was $258.5 million, up from $224.7 million; common stock repurchases were $410.0 million in the quarter.
The filing states no financial outlook; guidance was to be provided on the August 7, 2025 conference call and website.
Dropbox reported first-quarter 2025 results for the quarter ended March 31, 2025, with revenue of $624.7 million, down 1.0% from a year earlier. GAAP diluted earnings per share rose to $0.51 from $0.39, helped by lower stock-based compensation, but the filing does not include forward guidance, which the company said would be given on its conference call.
Revenue of $624.7 million, down 1.0% year over year; down 0.6% on a constant currency basis
GAAP diluted EPS of $0.51 versus $0.39; non-GAAP diluted EPS of $0.70 versus $0.58
Total ARR of $2.552 billion, down 0.2% year over year; paying users of 18.16 million, flat
Cash paid for lease termination of $36.0 million and workforce reduction outflow of $10.2 million in the quarter
Dropbox disclosed that Eric Cox plans to step down as Chief Customer Officer. He will stay in his current role for a period to help with the transition, then continue as a non-executive employee through mid-August 2025. The filing contains no financial results or successor details.
Eric Cox plans to step down as Chief Customer Officer, announced April 11, 2025
Cox will remain in his current role for a transition period
He will continue as a non-executive employee through mid-August
Dropbox said Chief Legal Officer Bart Volkmer will resign effective March 28, 2025, after more than thirteen years with the company, and will stay on as an advisor through April. The board appointed William Yoon, the company's Vice President, Product Counseling & Privacy, to succeed him as Chief Legal Officer on the same date. The filing reports a planned leadership transition in the legal function and does not include any financial results or guidance.
Bart Volkmer resigned as Chief Legal Officer; notice given March 3, 2025, effective March 28, 2025
Volkmer will remain available as an advisor to the company through April 2025
William Yoon, 46, appointed Chief Legal Officer effective March 28, 2025
Yoon has been Dropbox's Chief Privacy Officer since 2020 and Vice President, Product Counseling & Privacy since 2021
Dropbox reported fourth-quarter 2024 revenue of $643.6 million, up 1.4% year over year, and fiscal 2024 revenue of $2.548 billion, up 1.9%. GAAP diluted earnings per share fell to $0.34 from $0.66, mainly because of $47.2 million in workforce reduction expenses and a prior-year real estate gain, while non-GAAP diluted EPS rose to $0.73 from $0.50. The release did not include forward guidance, which the company said would be given on its conference call.
Q4 2024 revenue was $643.6 million, up 1.4%; constant currency growth was 1.1%.
GAAP net income was $102.8 million, down from $227.3 million, including $47.2 million in workforce reduction expenses.
Non-GAAP diluted EPS was $0.73, versus $0.50 a year earlier; fiscal 2024 free cash flow was $871.6 million.
Dropbox said forward-looking guidance would be provided on its February 20, 2025 conference call and website.
Dropbox appointed Warren Jenson, a former President and CFO of Nielsen, as a director on January 17, 2025, and to the board's Audit Committee. The filing describes standard non-employee director compensation and a standard indemnification agreement, with no financial terms disclosed for the appointment.
Board appointment effective January 17, 2025; Jenson also joins the Audit Committee
Jenson will receive the standard compensation for non-employee directors, described in the April 2, 2024 Proxy Statement
Company will enter its standard indemnification agreement with Jenson
Prior roles cited in Exhibit 99.1 include President and CFO of Nielsen and President of LiveRamp
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