← DROPBOX, INC.
| Annual Trend | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|---|
| Cash and cash equivalents | $519.3m | $551.3m | $314.9m | $533.0m | $232.8m | $614.9m | $1.3b | $891.3m | |
| Short-term investments | $570.0m | $607.7m | $806.4m | $1.2b | $1.1b | $741.1m | $265.9m | $146.9m | |
| Trade and other receivables, net | $28.6m | $36.7m | $43.4m | $49.6m | $53.8m | $68.7m | $70.4m | $79.1m | |
| Prepaid expenses and other current assets | $92.3m | $47.5m | $62.8m | $82.1m | $92.6m | $91.9m | $73.8m | $73.2m | |
| Total current assets | $1.2b | $1.2b | $1.2b | $1.8b | $1.5b | $1.5b | $1.7b | $1.2b | |
| Property and equipment, net | $310.6m | $445.3m | $338.7m | $322.0m | $308.4m | $309.2m | $358.8m | $378.4m | |
| Intangible assets, net | $14.7m | $47.4m | $33.5m | $53.6m | $88.3m | $58.1m | $54.9m | $33.7m | |
| Goodwill | $96.5m | $234.5m | $236.9m | $356.6m | $403.3m | $402.2m | $442.8m | $454.9m | |
| Operating lease right-of-use asset | — | $657.9m | $470.5m | $413.9m | $260.6m | $183.8m | $158.9m | $270.7m | |
| Other assets | $62.1m | $70.9m | $80.1m | $95.4m | $61.0m | $53.2m | $104.7m | $101.0m | |
| Deferred tax assets | — | — | — | $41.2m | $498.7m | $460.4m | $466.7m | $415.7m | |
| Accrued and other current liabilities | $164.5m | $161.9m | $156.7m | $140.8m | $139.9m | $155.2m | $143.2m | $121.7m | |
| Operating lease liability | — | $79.9m | $88.7m | $78.3m | $68.9m | $57.4m | $64.9m | $51.3m | |
| Finance lease obligation | $73.8m | $76.7m | $99.6m | $120.4m | $114.8m | $116.2m | $123.3m | $144.3m | |
| Convertible senior notes, net, current | — | — | — | — | — | — | $0 | $695.4m | |
| Term loan, net, current | — | — | — | — | — | $0 | $10.0m | $15.0m | |
| Deferred revenue | $485.0m | $554.2m | $610.5m | $671.5m | $702.6m | $725.0m | $727.7m | $729.7m | |
| Finance lease obligation, non-current | $89.9m | $138.2m | $171.6m | $167.7m | $151.7m | $168.5m | $203.5m | $201.5m | |
| Convertible senior notes, net, non-current | — | — | $0 | $1.4b | $1.4b | $1.4b | $1.4b | $689.9m | |
| Term loan, net, non-current | — | — | — | — | — | $0 | $962.9m | $1.4b | |
| Other non-current liabilities | $89.9m | $25.9m | $34.4m | $39.4m | $112.1m | $90.8m | $68.4m | $67.6m | |
| Total stockholders' deficit | $676.8m | $808.4m | $333.8m | ($293.9m) | ($309.4m) | ($165.8m) | ($752.4m) | ($1.8b) | |
| Total assets | $1.7b | $2.7b | $2.4b | $3.1b | $3.1b | $3.0b | $3.3b | $2.8b | |
| Total liabilities and stockholders' deficit | $1.7b | $2.7b | $2.4b | $3.1b | $3.1b | $3.0b | $3.3b | $2.8b | |
| Accounts payable | $33.3m | $40.7m | $18.7m | $25.7m | $38.6m | $38.5m | $36.5m | $24.3m | |
| Accrued compensation and benefits | $80.9m | $101.4m | $113.6m | $139.1m | $131.7m | $109.2m | $105.2m | $111.8m | |
| Operating lease liability, non-current | — | $711.9m | $759.6m | $632.0m | $585.2m | $310.7m | $250.4m | $355.9m | |
| Total current liabilities | $837.5m | $1.0b | $1.1b | $1.2b | $1.2b | $1.2b | $1.2b | $1.9b | |
| Total liabilities | $1.0b | $1.9b | $2.1b | $3.4b | $3.4b | $3.1b | $4.1b | $4.6b | |
| Preferred stock value | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Common stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Additional paid-in-capital | $2.3b | $2.5b | $2.6b | $2.4b | $2.5b | $2.6b | $2.4b | $2.0b | |
| Accumulated deficit | ($1.7b) | ($1.7b) | ($2.2b) | ($2.7b) | ($2.8b) | ($2.7b) | ($3.1b) | ($3.8b) | |
| Accumulated other comprehensive income (loss) | ($1.2m) | $3.3m | $10.9m | ($2.6m) | ($48.9m) | ($21.5m) | ($10.1m) | $5.7m |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.