← DROPBOX, INC.

Annual Trend FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025
Revenue $1.1b $1.4b $1.7b $1.9b $2.2b $2.3b $2.5b $2.5b $2.5b
Cost of revenue $368.9m $394.7m $411.0m $414.6m $444.2m $444.2m $478.5m $445.1m $500.8m
Gross profit $737.9m $997.0m $1.3b $1.5b $1.7b $1.9b $2.0b $2.1b $2.0b
Research and development $380.3m $768.2m $662.1m $727.5m $755.9m $891.9m $936.5m $914.9m $732.0m
Total operating expenses $851.6m $1.5b $1.3b $1.8b $1.4b $1.7b $1.5b $1.6b $1.3b
Income from operations ($113.7m) ($494.0m) ($80.5m) ($277.0m) $274.4m $181.3m $538.7m $486.2m $689.1m
Sales and marketing $314.0m $439.6m $423.3m $422.8m $427.5m $409.4m $466.0m $460.7m $369.9m
General and administrative $157.3m $283.2m $245.4m $227.8m $224.6m $222.9m $237.1m $241.2m $230.5m
Net (gain) loss on real estate assets — — — — $31.3m $175.2m ($155.2m) $100k ($1.3m)
Other income (loss), net $13.2m $6.8m $16.0m $25.1m $30.1m $8.1m ($3.7m) $9.7m $7.1m
Provision for income taxes ($200k) ($4.8m) ($700k) ($6.1m) $36.5m $360.5m ($100.8m) ($57.5m) ($109.2m)
Income before income taxes ($111.5m) ($480.1m) ($52.0m) ($250.2m) $299.3m $192.7m $554.4m $509.8m $617.6m
Net income ($111.7m) ($484.9m) ($52.7m) ($256.3m) $335.8m $553.2m $453.6m $452.3m $508.4m
Basic net income per share (in dollars per share) — — ($0) ($1) $1 $2 $1 $1 $2
Diluted net income per share (in dollars per share) — — ($0) ($1) $1 $2 $1 $1 $2
Weighted-average shares used in computing net income per share attributable to common stockholders, basic (in shares) — — ($0) ($1) $1 $2 $1 $1 $2
Weighted-average shares used in computing net income per share attributable to common stockholders, diluted (in shares) — — ($0) ($1) $1 $2 $1 $1 $2
Interest (expense) income, net ($11.0m) $7.1m $12.5m $1.7m ($5.2m) $3.3m $19.4m $13.9m ($78.6m)

Data sourced from SEC EDGAR 10-K filings via EdgarTools. Amounts are shown in USD as reported in each fiscal year filing.

Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.