Dropbox Q1 revenue falls 1.0% to $624.7 million; GAAP EPS rises to $0.51
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.
Key points
- 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
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 12:57 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on May 08, 2025.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.