---
schema_version: "secwatch.filing_event.v1"
accession: "0001467623-25-000114"
form_type: "8-K"
ticker: "DBX"
cik: "0001467623"
company_name: "DROPBOX, INC."
filed_at: "2025-08-07T23:59:59+00:00"
generated_at: "2026-05-17T17:24:04.558565+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Dropbox Q2 revenue down 1.4% to $625.7M, EPS beats at $0.71 non-GAAP, operating margin expands to 41.5%

## Summary
- GAAP diluted EPS $0.45 vs $0.34 YoY; non-GAAP diluted EPS $0.71 vs $0.60.
- Paying users 18.13M, down 34k QoQ; ARPU $138.32 vs $139.93 YoY.
- GAAP operating margin 26.9% vs 20.0% YoY; non-GAAP 41.5% vs 35.9%.
- Free cash flow $258.5M, up from $224.7M YoY; cash & equivalents $954.7M.
- CEO cites early stability in Core FSS and momentum for AI-powered Dash.

## SEC filing metadata
- accession: 0001467623-25-000114
- form_type: 8-K
- ticker: DBX
- cik: 0001467623
- company_name: DROPBOX, INC.
- filed_at: 2025-08-07T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1467623/000146762325000114/0001467623-25-000114-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1467623/000146762325000114/dbx-20250807.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001467623-25-000114
- JSON: https://secwatch.observer/filing/0001467623-25-000114.json
- Plain text: https://secwatch.observer/filing/0001467623-25-000114.txt

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