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Dropbox (DBX)
NASDAQ:DBX
Earnings Data
Report Date
Apr 30, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.7Last Year’s EPS
0.7Same Quarter Last Year
Based on 7 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Neutral
Balanced/Neutral. The call highlighted strong cash generation (full‑year unlevered free cash flow > $1B), an operating margin beat, substantial share repurchases and promising early engagement signals for Dash (over half of active Dash+Dropbox users returning multiple days per week). At the same time, revenue and ARR remain pressured by the FormSwift wind‑down and other factors (Q4 revenue down ~110 bps YoY; ARR down ~190 bps YoY), gross margin faced headwinds from infrastructure and depreciation, and management expects flat revenue (ex‑FormSwift) in 2026 while investing in Dash and go‑to‑market improvements. Overall the company demonstrated financial strength and early product momentum but has not yet shown a clear, sustained return to revenue growth — hence a balanced outlook.Company Guidance
Revenue Outperformance vs. Guidance
Q4 revenue of $636 million came in above the high end of guidance; excluding the impact of the FormSwift wind down, constant currency revenue was roughly flat year‑over‑year (ex-FormSwift revenue increased ~40 basis points).
Strong Margin and Profitability Performance
Non‑GAAP operating margin was 38.2% in Q4, beating guidance (37%) and up ~130 basis points year‑over‑year. Gross margin was 80.8% (see lowlights for YoY headwinds) but the company reaffirmed FY26 non‑GAAP operating margin guidance of 39%–39.5%.
Robust Free Cash Flow Generation
Full‑year unlevered free cash flow exceeded $1 billion; Q4 unlevered free cash flow was $251 million ($0.99 per share), up 44% year‑over‑year. Cash flow from operations was $235 million, up 10% year‑over‑year.
Capital Allocation — Significant Share Repurchases
Repurchased ~14 million shares in Q4 for about $415 million and reduced diluted share count by more than 50 million shares in 2025; approximately $1.17 billion remained under repurchase authorization at quarter end.
Balance Sheet and Liquidity
Ended Q4 with ~$1.04 billion in cash and short‑term investments, plus $1.2 billion of additional term loan liquidity; plan to draw remaining term loan availability (total term loans ~ $2.7 billion once drawn).
Early Product Momentum: Dash and Dash + Dropbox
Dash integrated into Teams plans and initial cohorts show solid engagement: in Q4, over half of active Dash+Dropbox users returned multiple days per week. The company closed a six‑figure international deal for Dash Protect & Control in Q4 and is scaling rollouts.
Stabilizing Customer Metrics
Total paying users exited Q4 at ~18.08 million, a sequential increase of ~10,000. ARPU rose slightly sequentially to $139.68 from $139.07 (≈+0.4%), driven by FX tailwinds and mix shift to monthly plans.
Real Estate Monetization
Executed subleases that are expected to generate ~ $97 million in future cash payments (net of costs) over remaining lease term through 2033, with modest P&L benefit factored into 2026 guidance and larger impact thereafter.
DBX Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
DBX Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 19, 2026 | $24.73 | $25.48 | +3.03% |
Nov 06, 2025 | $28.67 | $30.87 | +7.67% |
Aug 07, 2025 | $26.20 | $26.91 | +2.71% |
May 08, 2025 | $29.69 | $29.46 | -0.77% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Dropbox (DBX) report earnings?
Dropbox (DBX) is schdueled to report earning on Apr 30, 2026, After Close (Confirmed).
What is Dropbox (DBX) earnings time?
Dropbox (DBX) earnings time is at Apr 30, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is DBX EPS forecast?
DBX EPS forecast for the fiscal quarter 2026 (Q1) is 0.7.
