Filing Flows › Dropbox (DBX) › Q3 2026 › vs Q3 2025
Dropbox (DBX) Q3 2026 vs Q3 2025 (year over year)
Dropbox's revenue rose $2.9M (+0.5%) from $634M in Q3 2025 to $637M in Q3 2026. Gross margin 80.6% against 79.8% (+0.8 pts).
Dropbox, Q3 2026: revenue $637M (+0.5% year over year), operating margin 27.5%, net earnings $116M, operating cash flow $259M. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Gross margin | 80.6% | 79.8% | +0.8 pts |
| Operating margin | 27.5% | 27.5% | -0.0 pts |
| Net margin | 18.2% | 19.5% | -1.3 pts |
| Free cash flow margin | 39.5% | 46.3% | -6.8 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Revenue | $637M | $634M | $2.9M | +0.5% |
| Gross profit | $514M | $506M | $7.6M | +2% |
| Cost of revenue | $124M | $128M | −$4.7M | -4% |
| Operating profit | $175M | $175M | $500K | +0.3% |
| Operating expenses | $338M | $331M | $7.1M | +2% |
| Pre-tax earnings | $130M | $157M | −$27.6M | -18% |
| Other expense, net | $45.6M | $17.5M | $28.1M | +161% |
| Research & development | $185M | $182M | $3.1M | +2% |
| Sales & marketing | $86.6M | $91.5M | −$4.9M | -5% |
| General & admin | $66.5M | $57.6M | $8.9M | +15% |
| Net earnings | $116M | $124M | −$7.7M | -6% |
| Income tax | $13.5M | $33.4M | −$19.9M | -60% |
| Depreciation & amortization | $35.2M | $39.6M | −$4.4M | -11% |
| Share-based compensation | $77.0M | $78.6M | −$1.6M | -2% |
| Working capital & other | $30.9M | $60.1M | −$29.2M | -49% |
| Operating cash flow | $259M | $302M | −$42.9M | -14% |
| Free cash flow (company-reported) | $252M | $294M | −$41.9M | -14% |
| Capital expenditures | $7.4M | $8.4M | −$1.0M | -12% |
Questions
How much did Dropbox's revenue grow year over year in Q3 2026?
Dropbox's revenue rose $2.9M (+0.5%) from $634M in Q3 2025 to $637M in Q3 2026. Gross margin 80.6% against 79.8% (+0.8 pts).