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Dolby Laboratories (DLB) earnings and revenue breakdown

Latest: Q3 FY26 · 10-Q filed Jul 30, 2026 · Dolby Laboratories (DLB) Q3 FY26 earnings results →

Q3 FY26 Revenue down 3% year over year to $305M · 9¢ of every $1 of revenue kept as net profit · operating margin 11.3%

Dolby Laboratories made $305M in Q3 FY26 (-3% Y/Y): Licensing $282M, Products and services $22.6M. Operating margin 11.3%, net earnings $28.6M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Jul 30, 2026.

Revenue$305M
Year over year-3%
Operating margin11.3%
Net earnings$28.6M
Operating cash flow$167M

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 $305.0M in Q3 FY26, down 3% year over year and down 23% from the previous quarter. Broadcast was the largest line at 35% of revenue. Mobile lost $5.3M year over year (down 9%), 50% of the total change.

Gross margin was 86.8%, up 0.7 points from Q3 FY25. Operating profit was $34.3M, a 11.3% margin (down 3.8 points year over year). Operating expenses grew 3% against a revenue fall of 3%. Net earnings were $28.6M, down 38% year over year. The effective tax rate was 33.3%. Non-operating items added $9.5M, 22% of pre-tax earnings, so the bottom line overstates operating performance.

Operating cash flow was $167.5M (up 147% year over year), 573% of net income including minority interests. Non-cash charges added back $22.6M of depreciation and amortization and $31.0M of share-based compensation. Working capital and other items added $84.7M. Capital expenditures of $15.0M left free cash flow of $152.5M.

Quarterly history

Dolby Laboratories revenue by quarterDolby Laboratories revenue by quarter$305MQ4 FY24$370MQ2 FY25$316MQ3 FY25$307MQ4 FY25$347MQ1 FY26$396MQ2 FY26$305MQ3 FY26
Dolby Laboratories net earnings by quarterDolby Laboratories net earnings by quarter$58.6MQ4 FY24$91.8MQ2 FY25$46.1MQ3 FY25$49.3MQ4 FY25$53.3MQ1 FY26$94.9MQ2 FY26$28.6MQ3 FY26
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 FY2610-QJul 30, 2026$305M-3%11.3%$28.6M$167M
Q2 FY2610-QApr 30, 2026$396M+7%28.5%$94.9M$92.5M
Q1 FY2610-QJan 29, 2026$347M-3%17.9%$53.3M$54.8M
Q4 FY2510-KNov 18, 2025$307M+0.7%9.7%$49.3M$123M
Q3 FY2510-QJul 31, 2025$316M+9%15.1%$46.1M$67.7M
Q2 FY2510-QMay 1, 2025$370M+1%29.2%$91.8M$175M
Q4 FY2410-KNov 19, 2024$305M+5%15.2%$58.6M$116M

Charts

Dolby Laboratories: revenue growth, year over year and quarter over quarterDolby Laboratories: revenue growth, year over year and quarter over quarterY/YQ/Q+5%Q4 FY24+1%+21%Q2 FY25+9%-15%Q3 FY25+1%-3%Q4 FY25-3%+13%Q1 FY26+7%+14%Q2 FY26-3%-23%Q3 FY26
Latest (Q3 FY26): Y/Y -3%, Q/Q -23%.
Dolby Laboratories: where the cash came from (+) and went (−), TTM to Q3 FY26Dolby Laboratories: where the cash came from (+) and went (−), TTM to Q3 FY26Operating cash flow$438MBuybacks−$235MDividends−$134MCapital spending−$44.9MOther financing−$35.2MOther investing−$31.6MShares issued$29.7MCash drawn (+) / kept (−)$17.7MPartners−$2.0MNot reconciled−$1.9M
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Dolby Laboratories: profit against cash, quarter by quarterDolby Laboratories: profit against cash, quarter by quarterNet incomeOperating cash flow$58.9M$116MQ4 FY24$68.1M$107MQ1 FY25$92.2M$175MQ2 FY25$46.5M$67.7MQ3 FY25$49.7M$123MQ4 FY25$53.7M$54.8MQ1 FY26$95.5M$92.5MQ2 FY26$29.2M$167MQ3 FY26
Latest (Q3 FY26): Net income $29.2M, Operating cash flow $167M.
Dolby Laboratories: diluted shares by fiscal yearDolby Laboratories: diluted shares by fiscal year103MFY20105MFY21102MFY2298MFY2397MFY2497MFY25
-5.3% since FY20: buybacks shrank the count.
Dolby Laboratories in its industry: growth against margin (9 companies, SIC 6794)Dolby Laboratories in its industry: growth against margin (9 companies, SIC 6794)revenue growth, year over year →↑ operating marginmedian -3%median -5%IDCCAPPSACTGJYNTRMCOAERAXELBREFRDLB (-3%, 11%)
Patent Owners & Lessors; dot size is quarterly revenue; dashed lines are the industry's medians.

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 Dolby Laboratories

Founded in 1965, we are in the business of improving entertainment experiences by inventing and innovating technologies that advance audio and video capture, transmission, and playback. We enable highly compelling experiences in movies and TV shows, music, sports and more by meeting the needs of content creators, distributors, and consumer electronics manufacturers. We have been at the forefront of multiple audio and video revolutions over the last sixty years including the transitions from mono to stereo then surround, analog to digital, and terrestrial broadcasting to streaming. Our strength and durability stem from our ability to combine our expertise in signal processing with our close relationships with artists and other industry experts to continually bring to the creative community technology that allows them to express themselves in new and compelling ways.

In its own words, from its 10-K, filed Nov 18, 2025.

Dolby Laboratories against its Patent Owners & Lessors peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -3% against the peers' median +1%. Operating margin: 11.3% against the peers' median -4.9%.

CompanyQuarterRevenueY/YOp. margin
DLB Dolby LaboratoriesQ3 FY26$305M-3%11.3%
IDCC InterDigitalQ3 2026$193M+18%51.4%
APPS Digital TurbineQ1 FY27$166M+27%13.9%
ACTG Acacia ResearchQ3 2026$54.4M-8%-6.6%
JYNT JointQ3 2026$13.6M+1%9.8%
RMCO Royalty Management HoldingQ2 2026$1.8M+38%-4.9%
AERA AI EraQ3 FY26$1.5M-19%-85.2%
XELB XCel BrandsQ2 2026$1.1M-15%-141.4%
NTIP NETWORK-1 TechnologiesQ1 2025$150K—-430.0%

Source: Dolby Laboratories 10-Q on SEC EDGAR · CIK 1308547 · Patent Owners & Lessors

Guidance and outlook

Dolby Laboratories Revenue: guidance against what was reportedDolby Laboratories Revenue: guidance against what was reportedguided rangereported (above / within / below)FY24$1.3B
Met or beat 0 of 1 guided periods. Grey: the last range guided before the figures came out; dot: the reported figure.

13F: who owns DLB and who is buying

Largest holders of DLB (13F)Largest holders of DLB (13F)Vanguard Group$496MBlackRock$351MVanguard Portfolio Management LLC$260MBank of New York Mellon$253MMorgan Stanley$242MVanguard Capital Management LLC$143MFirst Trust Advisors LP$142MState Street$122MAcadian Asset Management LLC$99.7MGeode Capital Management, LLC$96.9M
Funds' net buying of DLB by quarter (13F)Funds' net buying of DLB by quarter (13F)$136M2024-09−$94.4M2024-12−$40.1M2025-03$102M2025-06$6.0M2025-09$17.9M2025-12$16.7M2026-03$121M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on DLB

History

Every quarter: Q3 FY26 results · Q2 FY26 results · Q1 FY26 results · Q4 FY25 results · Q3 FY25 results · Q2 FY25 results · Q4 FY24 results

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中文版：Dolby Laboratories（DLB）财报

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