| Cash Flow | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 |
|---|---|---|---|---|
| Net income | 114,500 | 108,700 | 123,800 | 125,600 |
| Depreciation and amortization | 39,100 | 40,700 | 39,600 | 39,000 |
| Stock-based compensation | 71,100 | 77,400 | 78,600 | 77,700 |
| Net (gain) loss on real estate assets | NaN | -3,900 | 0 | 2,600 |
| Amortization of debt issuance costs | 3,800 | 2,900 | 2,400 | 2,400 |
| Net loss on equity investments | 0 | 0 | 1,200 | 0 |
| Amortization of deferred commissions | 5,500 | 5,700 | 6,200 | 6,800 |
| Non-cash operating lease expense | 9,800 | 8,700 | 11,600 | 8,900 |
| Deferred taxes | 10,400 | 18,300 | 31,400 | 500 |
| Other | -200 | 5,900 | -600 | 4,000 |
| Trade and other receivables, net | -4,000 | 4,800 | -1,700 | 2,800 |
| Prepaid expenses and other current assets | 16,400 | -1,800 | 6,700 | 6,000 |
| Other assets | 300 | -1,800 | -700 | -2,700 |
| Accounts payable | 8,100 | -10,300 | 800 | 400 |
| Accrued and other current liabilities | 19,500 | -15,600 | 6,200 | -15,900 |
| Accrued compensation and benefits | -69,300 | 26,600 | 19,500 | 24,900 |
| Deferred revenue | 18,000 | -11,300 | -2,300 | 3,900 |
| Other non-current liabilities | 1,500 | 5,100 | 1,900 | 700 |
| Operating lease liabilities | -15,000 | -10,500 | -12,700 | -6,900 |
| Tenant improvement allowance reimbursement | NaN | 0 | NaN | NaN |
| Cash paid for lease termination | 0 | 0 | 0 | 0 |
| Net cash provided by operating activities | 204,500 | 235,400 | 302,100 | 260,500 |
| Capital expenditures | 1,200 | 10,500 | 8,400 | 2,000 |
| Purchase of intangible assets | 0 | 0 | 0 | 0 |
| Business combinations, net of cash acquired | NaN | 0 | 4,700 | 8,400 |
| Purchases of short-term investments | NaN | 0 | 0 | 0 |
| Proceeds from sales of short-term investments | 200 | 0 | 0 | 0 |
| Proceeds from maturities of short-term investments | 65,400 | 48,700 | 25,100 | 21,000 |
| Proceeds from sales of equity investments | NaN | 1,700 | NaN | NaN |
| Cash receipts from equipment rebates | 900 | 2,900 | 14,200 | NaN |
| Other | -1,600 | -3,100 | 8,400 | -1,800 |
| Net cash provided by investing activities | 66,900 | 45,900 | 17,800 | 12,400 |
| Proceeds from term loan facility | 1,200,000 | 350,000 | 150,000 | NaN |
| Payments of debt issuance costs and loan commitment fees | 8,100 | 4,200 | 11,500 | 2,600 |
| Principal payments against term loan facility | 6,800 | 3,700 | 2,900 | 2,500 |
| Repayment of convertible senior notes | 695,800 | NaN | NaN | NaN |
| Payments for taxes related to net share settlement of restricted stock units and awards | 30,300 | 37,100 | 35,800 | 38,300 |
| Proceeds from issuance of common stock, net of taxes withheld | NaN | 0 | 0 | 100 |
| Principal payments on finance lease obligations | 43,400 | 26,700 | 33,600 | 34,500 |
| Common stock repurchases | 366,800 | 415,000 | 389,800 | 410,000 |
| Payment of acquisition-related indemnification holdback | 2,600 | 4,100 | 0 | NaN |
| Net cash provided by (used in) financing activities | 46,200 | -140,800 | -323,600 | -487,800 |
| Effect of exchange rate changes on cash, cash equivalents, and restricted cash | -1,400 | 1,200 | -1,300 | 9,200 |
| Change in cash, cash equivalents, and restricted cash | 316,200 | 141,700 | -5,000 | -205,700 |
| Cash, cash equivalents, and restricted cash- beginning of period | 905,900 | 764,200 | 769,200 | 974,900 |
| Cash, cash equivalents, and restricted cash- end of period | 1,222,100 | 905,900 | 764,200 | 769,200 |
DROPBOX, INC. (DBX)
DROPBOX, INC. (DBX)