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How Dropbox (DBX) makes money
Dropbox (DBX) made $637M of revenue in the third quarter 2026 (Q3 2026), +0.5% from a year earlier. Of every dollar of revenue, 81¢ was left as gross profit, 27¢ was left as operating profit, 18¢ was left as net earnings.
Drawing the Sankey…
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $637M | 100.0% |
| Cost of revenue | $124M | 19.4% |
| Gross profit | $514M | 80.6% |
| Operating expenses | $338M | 53.1% |
| Operating profit | $175M | 27.5% |
| Income tax | $13.5M | 2.1% |
| Net earnings | $116M | 18.2% |
| Operating cash flow | $259M | 40.7% |
| Free cash flow | $252M | 39.5% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $637M | +0.5% |
| Q2 2026 | $632M | +0.9% |
| Q1 2026 | $630M | +0.8% |
| Q4 2025 | $636M | -1% |
| Q3 2025 | $634M | -0.7% |
| Q2 2025 | $626M | -1% |
| Q1 2025 | $625M | -1% |
From Dropbox's 10-Q filed Nov 6, 2026 (on EDGAR).
Questions
How does Dropbox make money?
Dropbox (DBX) made $637M of revenue in the third quarter 2026 (Q3 2026), +0.5% from a year earlier. Of every dollar of revenue, 81¢ was left as gross profit, 27¢ was left as operating profit, 18¢ was left as net earnings.
What is Dropbox's profit margin?
Net earnings were $116M, 18.2% of revenue, in the third quarter 2026; the operating margin was 27.5%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.