---
schema_version: "secwatch.filing_event.v1"
accession: "0001467623-26-000003"
form_type: "8-K"
ticker: "DBX"
cik: "0001467623"
company_name: "DROPBOX, INC."
filed_at: "2026-02-19T23:59:59+00:00"
generated_at: "2026-05-16T01:42:35.949726+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Dropbox Q4 revenue $636.2M (-1.1% YoY); GAAP EPS $0.43, non-GAAP $0.68

## Summary
- Q4 revenue $636.2M, down 1.1% YoY; excluding FormSwift up 0.4%. ARR $2.526B (-1.9%).
- GAAP operating margin 25.5% vs 13.7% YoY; non-GAAP 38.2% vs 36.9%.
- GAAP EPS $0.43 from $0.34; non-GAAP EPS $0.68 from $0.73 (higher tax/interest).
- FY2025 revenue $2.521B (-1.1%); GAAP operating margin 27.3%; repurchased $1.7B in shares.
- Paying users fell to 18.08M from 18.22M; ARPU $139.68 from $140.06.

## SEC filing metadata
- accession: 0001467623-26-000003
- form_type: 8-K
- ticker: DBX
- cik: 0001467623
- company_name: DROPBOX, INC.
- filed_at: 2026-02-19T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1467623/000146762326000003/0001467623-26-000003-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1467623/000146762326000003/dbx-20260219.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001467623-26-000003
- JSON: https://secwatch.observer/filing/0001467623-26-000003.json
- Plain text: https://secwatch.observer/filing/0001467623-26-000003.txt

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