secwatch.observer — SEC 8-K summary
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Issuer:     DROPBOX, INC. (DBX)
CIK:        0001467623
Form:       8-K
Filed at:   2026-02-19T23:59:59+00:00
Accession:  0001467623-26-000003
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1467623/000146762326000003/0001467623-26-000003-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1467623/000146762326000003/dbx-20260219.htm
  HTML page:      https://secwatch.observer/filing/0001467623-26-000003

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer