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AI brief of an SEC Form 8-K · Dropbox (DBX)

Dropbox Q4 revenue falls 1.1% to $636.2 million; GAAP EPS rises to $0.43

Mixed Impact 3 of 5 earnings Written later

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.

Key points

  • 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.

The filing

CompanyDropbox (DBX)
Form8-K, current report
Filed with the SECFeb 19, 2026, 4:13 PM ET
Accession number0001467623-26-000003

Items reported: 2.02 Results of Operations7.01 Regulation FD Disclosure

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 12:57 AM ET, from this filing 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 February 19, 2026.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.