Filing Flows › Technology › Dropbox (DBX)
Dropbox (DBX) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 6, 2026 · Dropbox (DBX) Q3 2026 earnings results →
Q3 2026 Revenue up 0% year over year to $637M · 18¢ of every $1 of revenue kept as net profit · operating margin 27.5%
Dropbox made $637M in Q3 2026 (+0.5% Y/Y). Operating margin 27.5%, net earnings $116M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 6, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $637.3M in Q3 2026, roughly flat year over year and up 1% from the previous quarter.
Gross margin was 80.6%, up 0.8 points from Q3 2025. Operating profit was $175.2M, a 27.5% margin (unchanged year over year). Of the extra revenue versus Q3 2025, 17% reached operating profit, below the 28% margin then. Operating expenses grew 2% against flat revenue. The fastest-growing cost line was General & admin (+15%). Net earnings were $116.1M, down 6% year over year. The effective tax rate was 10.4%.
Operating cash flow was $259.2M (down 14% year over year), 223% of net earnings. Non-cash charges added back $35.2M of depreciation and amortization and $77.0M of share-based compensation. Working capital and other items added $30.9M. After capital expenditures ($7.4M), free cash flow as the company reports it was $251.8M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 6, 2026 | $637M | +0.5% | 27.5% | $116M | $259M |
| Q2 2026 | 10-Q | Aug 7, 2026 | $632M | +0.9% | 26.1% | $95.8M | $238M |
| Q1 2026 | 10-Q | May 8, 2026 | $630M | +0.8% | 27.5% | $114M | $204M |
| Q4 2025 | 10-K | Feb 20, 2026 | $636M | -1% | 25.5% | $109M | $235M |
| Q3 2025 | 10-Q | Nov 7, 2025 | $634M | -0.7% | 27.5% | $124M | $302M |
| Q2 2025 | 10-Q | Aug 8, 2025 | $626M | -1% | 26.9% | $126M | $260M |
| Q1 2025 | 10-Q | May 9, 2025 | $625M | -1% | 29.4% | $150M | $154M |
Charts
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Dropbox
We were founded in 2007 with a simple idea: Life would be a lot better if everyone could access their most important information anytime from any device. We’ve largely accomplished that mission by building tools to help people work from anywhere—and along the way we recognized that for most of our users, sharing and collaborating on the Dropbox, Inc. platform (“Dropbox”) was even more valuable than storing files. Our market opportunity grew as we’ve expanded from keeping files in sync to keeping teams in sync. Today, we are focused on reimagining the way work gets done by reducing the inordinate amount of time and energy the world spends on “work about work”—tedious tasks like searching for content, switching between applications, and managing workflows.
In its own words, from its 10-K, filed Feb 20, 2026.
Dropbox against its Services-Prepackaged Software peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +0.5% against the peers' median +14%. Operating margin: 27.5% against the peers' median 20.5%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| DBX Dropbox | Q3 2026 | $637M | +0.5% | 27.5% |
| MSFT Microsoft | Q1 FY27 | $92.3B | +19% | 49.8% |
| ORCL Oracle | Q1 FY27 | $19.3B | +30% | 34.8% |
| CRM Salesforce | Q2 FY27 | $11.3B | +11% | 20.5% |
| ADBE Adobe | Q3 FY26 | $6.8B | +13% | 34.8% |
| XYZ Block | Q3 2026 | $6.7B | +10% | 6.4% |
| INTU Intuit | Q4 FY26 | $4.4B | +14% | 10.9% |
| NOW ServiceNow | Q3 2026 | $4.1B | +20% | 9.4% |
| SHOP Shopify | Q3 2026 | $3.7B | +32% | 15.2% |
Source: Dropbox 10-Q on SEC EDGAR · CIK 1467623 · Services-Prepackaged Software
Guidance and outlook
13F: who owns DBX and who is buying
More on DBX
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results