DROPBOX, INC. (DBX) Form 10-Q — Aug 7, 2026
Dropbox filed its Q2 2026 10-Q showing revenue of $631.5 million, up roughly 1% from $625.7 million a year ago, while net income fell 24% to $95.8 million and diluted EPS slipped to $0.42 from $0.45. The decline was driven by net interest expense jumping to $50.0 million from $18.6 million. The balance sheet changed materially: Dropbox drew $1.2 billion on its term loan facility in the first half, lifting principal to $2,674.8 million, and used $695.8 million in cash to retire its 0% convertible notes at their March 1, 2026 maturity.
Key figures
- Eps
- 0.42 diluted / 0.43 basic (Q2 2026)
- Revenue
- 631.5
- Net Income
- 95.8
- Total Debt
- ≈$3,368.1M principal ($2,674.8M term loan + $693.3M 2028 convertible notes), plus $285.9M finance lease obligations
- Revenue Yoy
- +0.9% (Q2 2026 $631.5M vs $625.7M in Q2 2025)
- Shares Outstanding
- 225.7M (150,561,680 Class A + 75,147,605 Class B as of Aug 3, 2026)
- Paying users
- 18.19 million
- H1 2026 revenue
- 1261
- Q2 2025 revenue
- 625.7
- Deferred revenue
- 748.9
- H1 2026 buybacks
- 688
- Q2 2026 buybacks
- 318
- Registered users
- more than 700 million
- Q2 2025 net income
- 125.6
- Q2 2025 diluted eps
- 0.45
- Q1 2026 delayed draw
- 700
- H1 2026 term loan draws
- 1200
- Revolving credit facility
- 400
- Buyback increase june 2026
- 900
- Operating cash flow h1 2026
- 443
- Net interest expense q2 2025
- 18.6
- Net interest expense q2 2026
- 50
- 2026 notes repaid at maturity
- 695.8
- Income from operations q2 2026
- 164.8
- Buyback authorization remaining
- $1.4 billion
- Convertible notes 2028 principal
- 693.3
- Remaining performance obligations
- 820.6
- Convertible notes 2028 conversion price
- 35.35
Price after filing
Close on the filing date to close N calendar days later (from $35.00). Historical, not a forecast.
AI analysis
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