Dropbox, Inc. (DBX) Revenue History
Annual and quarterly revenue from 2015 to present
DBX Revenue Over Time (2015–2025)
DBX Revenue Growth History
9 of 10 years with positive growth- FY2015 revenue growth
- N/A
- FY2016 revenue growth
- +39.9%
- FY2017 revenue growth
- +31.0%
- FY2018 revenue growth
- +25.7%
- FY2019 revenue growth
- +19.4%
- FY2020 revenue growth
- +15.2%
- FY2021 revenue growth
- +12.7%
- FY2022 revenue growth
- +7.7%
- FY2023 revenue growth
- +7.6%
- FY2024 revenue growth
- +1.9%
- FY2025 revenue growth
- -1.1%
| Quarter | Revenue | YoY |
|---|---|---|
| Q1 2026 | $629.5M | +0.8% |
| Q4 2025 | $636.2M | -1.1% |
| Q3 2025 | $634.4M | -0.7% |
| Q2 2025 | $625.7M | -1.4% |
| Q1 2025 | $624.7M | -1.0% |
| Q4 2024 | $643.6M | +1.4% |
| Q3 2024 | $638.8M | +0.9% |
| Q2 2024 | $634.5M | +1.9% |
Multi-year avg. share of annual revenue by fiscal quarter
Revenue Breakdown
DBX's revenue distribution by segment and geography
By Geography
DBX Revenue Analysis (2015–2025)
Current Revenue & Growth
As of June 22, 2026, Dropbox, Inc. (DBX) generated trailing twelve-month (TTM) revenue of $2.53 billion, reflecting modest growth of +0.8% year-over-year. The most recent quarter (Q1 2026) recorded $629.5 million in revenue, down 1.1% sequentially.
Historical Growth Trajectory
DBX's 5-year compound annual growth rate (CAGR) stands at +5.7%, indicating steady revenue expansion. The 3-year CAGR of +2.7% is below the 5-year average, signalling a growth deceleration in recent years. Dropbox, Inc.'s highest annual revenue of $2.55 billion was recorded in 2024.
Peer Comparison
Compared to Technology sector peers — including BOX (+9.5% YoY), DOCN (+17.6% YoY), and MSFT (+17.9% YoY) — DBX has underperformed the peer group in revenue growth. Compare DBX vs BOX →
DBX Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| DBXCurrent | $2.5B | +0.8% | +5.7% | 27.4% | |
 BOX | $1.2B | +9.5% | +8.8% | 7.1% | |
 DOCN | $901M | +17.6% | +23.1% | 17.4% | |
 MSFT | $281.7B | +17.9% | +14.5% | 45.6% | |
 GOOGL | $403.0B | +17.5% | +17.2% | 32.1% | |
 AAPL | $416.2B | +12.8% | +8.7% | 32.0% |
DBX Historical Revenue Data (2015–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $2.52B | -1.1% | $2.02B | 80.1% | $691.5M | 27.4% |
| 2024 | $2.55B | +1.9% | $2.10B | 82.5% | $486.2M | 19.1% |
| 2023 | $2.50B | +7.6% | $2.02B | 80.9% | $538.7M | 21.5% |
| 2022 | $2.32B | +7.7% | $1.88B | 80.9% | $181.3M | 7.8% |
| 2021 | $2.16B | +12.7% | $1.71B | 79.4% | $274.4M | 12.7% |
| 2020 | $1.91B | +15.2% | $1.50B | 78.3% | $-277,000,000 | -14.5% |
| 2019 | $1.66B | +19.4% | $1.25B | 75.3% | $-80,500,000 | -4.8% |
| 2018 | $1.39B | +25.7% | $997.0M | 71.6% | $-494,000,000 | -35.5% |
| 2017 | $1.11B | +31.0% | $737.9M | 66.7% | $-113,700,000 | -10.3% |
| 2016 | $844.8M | +39.9% | $454.2M | 53.8% | $-193,500,000 | -22.9% |
| 2015 | $603.8M | - | $196.4M | 32.5% | $-306,200,000 | -50.7% |
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
11+ years return with dividends reinvested.
DCA Calculator
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Peer Comparison
Compare growth, multiples, and margins vs sector.
DBX — Frequently Asked Questions
Quick answers to the most common questions about buying DBX stock.
Is DBX's revenue growth accelerating or slowing?
DBX revenue growth is slowing. TTM revenue is $2.5B, up +0.8% year-over-year — below the 5-year CAGR of +5.7%. The deceleration suggests maturing end-markets or increased competition.
What is DBX's revenue history from 2015 to 2026?
Dropbox, Inc. (DBX) revenue history spans 2015 to 2026. TTM revenue as of 2026 is $2.5B, growing at +0.8% YoY. The 5-year CAGR is +5.7%. Complete annual and quarterly revenue figures are available on this page, including gross profit, operating income, and margin trends.
What is DBX's long-term revenue growth rate (CAGR)?
Dropbox, Inc.'s 5-year revenue CAGR of +5.7% reflects the variable nature of its business expansion. As of 2026, the current YoY growth rate of +0.8% is below this long-term average. CAGR is the most reliable measure of sustained revenue momentum for DBX.
Why does DBX's quarterly revenue fluctuate?
DBX quarterly revenue can fluctuate significantly between periods. A quarter-over-quarter (QoQ) change does not always indicate a trend; comparing the same quarter year-over-year (YoY) is a more reliable signal for underlying growth. Dropbox, Inc.'s revenue data from 2015 to 2026 shows full historical quarterly detail on this page.
How is DBX's revenue distributed by segment?
DBX reports revenue broken down by product line and geographic region. The segment breakdown on this page shows which business units contribute the most to total revenue as of the latest fiscal year. Concentration in a single segment above 50% indicates category dependence, while a diversified mix signals more resilient revenue streams.
How does DBX's revenue compare to industry peers?
Dropbox, Inc. (DBX) with TTM revenue of $2.5B and +0.8% YoY growth can be benchmarked against sector peers using the comparison table on this page. Revenue growth relative to peers indicates market share gains or losses. The peer section shows TTM revenue, YoY growth, and operating margin for direct comparisons.