Dropbox Q1 revenue down 1.0% YoY to $624.7M; GAAP EPS $0.51, non-GAAP $0.70

DROPBOX, INC.

2025-Q1 EPS reported $0.51 revenue$624,700,000

Total revenue $624.7M, down 1.0% YoY; constant currency down 0.6%; ARR flat on cc basis.
GAAP net income $150.3M vs $132.3M YoY; GAAP operating margin improved to 29.4% from 22.7%.
Non-GAAP EPS $0.70 vs $0.58 YoY; non-GAAP operating margin 41.7% vs 36.5%.
Paying users flat at 18.16M, down 60k QoQ; ARPU $139.26 vs $139.59 YoY.
Free cash flow $153.7M, down from $166.3M; includes $36M lease termination fee and $10.2M workforce reduction costs.

item 2.02 item 7.01 item 9.01

Machine-readable event card

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accession 0001467623-25-000056

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