Dropbox Announces First Quarter 2026 Results

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[{"type":"text","content":"First Quarter GAAP Operating Margin of 27.5% and Non-GAAP Operating Margin of 40.1%","length":83,"tagName":"p","attribs":{}},{"type":"text","content":"Net Cash Provided by Operating Activities of $204.5 Million and Unlevered Free Cash Flow of $236.4 Million","length":106,"tagName":"p","attribs":{}},{"type":"text","content":"Revenue of $629.5 Million, an increase of 0.8% year-over-year; excluding FormSwift, up 2.0% year-over-year","length":106,"tagName":"p","attribs":{}},{"type":"text","content":"SAN FRANCISCO, May 07, 2026--(BUSINESS WIRE)--Dropbox, Inc. (NASDAQ: DBX) today announced financial results for its first quarter ended March 31, 2026.","length":151,"tagName":"p"},{"type":"text","content":""We delivered a strong quarter, exceeding the high end of our guidance for revenue and operating margin, with revenue growing 0.8% year-over-year and 2% year-over-year excluding FormSwift," said Drew Houston, Dropbox Co-Founder and Chief Executive Officer. "This represents another quarter of positive revenue growth excluding FormSwift and reflects progress in strengthening our core business. We’re seeing encouraging signs from the focused work we’ve done to improve retention in Individuals, alongside funnel and product improvements in Teams. We’re also continuing to expand Dash in Dropbox thoughtfully across our existing user base as we invest with discipline in the platform capabilities that will support future growth."","length":750,"tagName":"p"},{"type":"text","content":"First Quarter 2026 Results Compared to First Quarter 2025","length":57,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Total revenue was $629.5 million, an increase of 0.8%. Excluding FormSwift, which we significantly reduced our investment in at the beginning of 2025 and plan to wind down operations by the end of 2026, revenue grew 2.0%. On a constant currency basis, total revenue excluding FormSwift increased by 0.4%.(1)","length":307,"tagName":"p","attribs":{}}]}],"tagName":"ul","bulletedList":true,"length":307,"olType":false},{"type":"list","items":[{"val":[{"type":"text","content":"Total ARR was $2.560 billion, an increase of 0.3%. Excluding FormSwift, Total ARR was $2.540 billion, an increase of 1.3%. On a constant currency basis, Total ARR excluding FormSwift decreased 0.1%. Total ARR on a constant currency basis...

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