Filing Flows › Dropbox (DBX) › Q2 2026 › vs Q1 2026
Dropbox (DBX) Q2 2026 vs Q1 2026 (quarter over quarter)
Dropbox's revenue rose $2.0M (+0.3%) from $630M in Q1 2026 to $632M in Q2 2026. Gross margin 80.2% against 79.7% (+0.6 pts).
Dropbox, Q2 2026: revenue $632M (+0.9% year over year), operating margin 26.1%, net earnings $95.8M, operating cash flow $238M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Gross margin | 80.2% | 79.7% | +0.6 pts |
| Operating margin | 26.1% | 27.5% | -1.4 pts |
| Net margin | 15.2% | 18.2% | -3.0 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Revenue | $632M | $630M | $2.0M | +0.3% |
| Gross profit | $506M | $501M | $5.1M | +1% |
| Cost of revenue | $125M | $128M | −$3.1M | -2% |
| Operating profit | $165M | $173M | −$8.0M | -5% |
| Operating expenses | $342M | $329M | $13.1M | +4% |
| Pre-tax earnings | $118M | $141M | −$23.7M | -17% |
| Other expense, net | $47.1M | $31.4M | $15.7M | +50% |
| Research & development | $188M | $184M | $3.9M | +2% |
| Sales & marketing | $89.8M | $86.9M | $2.9M | +3% |
| General & admin | $63.8M | $57.5M | $6.3M | +11% |
| Net earnings | $95.8M | $114M | −$18.7M | -16% |
| Income tax | $21.9M | $26.9M | −$5.0M | -19% |
| Depreciation & amortization | $36.5M | $39.0M | −$2.5M | -6% |
| Share-based compensation | $77.3M | $71.1M | $6.2M | +9% |
| Working capital & other | $28.9M | −$20.1M | $49.0M | — |
| Operating cash flow | $238M | $204M | $34.0M | +17% |
Questions
How much did Dropbox's revenue grow quarter over quarter in Q2 2026?
Dropbox's revenue rose $2.0M (+0.3%) from $630M in Q1 2026 to $632M in Q2 2026. Gross margin 80.2% against 79.7% (+0.6 pts).