---
schema_version: "secwatch.filing_event.v1"
accession: "0001467623-25-000056"
form_type: "8-K"
ticker: "DBX"
cik: "0001467623"
company_name: "DROPBOX, INC."
filed_at: "2025-05-08T23:59:59+00:00"
generated_at: "2026-05-22T03:53:02.293384+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001467623-25-000056
- form_type: 8-K
- ticker: DBX
- cik: 0001467623
- company_name: DROPBOX, INC.
- filed_at: 2025-05-08T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1467623/000146762325000056/0001467623-25-000056-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1467623/000146762325000056/dbx-20250508.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001467623-25-000056
- JSON: https://secwatch.observer/filing/0001467623-25-000056.json
- Plain text: https://secwatch.observer/filing/0001467623-25-000056.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.