Dropbox (DBX) Cost of Revenue (2017 - 2026)
Dropbox's Cost of Revenue was $125 million in Q2 2026, up 1.1% from $123.7 million a year earlier but down 2.4% from the prior quarter.
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Analysis
Dropbox (DBX) Cost of Revenue (2017 - 2026) Analysis & Trends
On a trailing twelve-month basis, Dropbox's Cost of Revenue was $513.5 million through Jun 30, 2026, up 8.6% year-over-year; for FY2025, it was $500.8 million, up 12.5% from FY2024.
- Cost of Revenue shows a five-year compound annual growth rate of 3.9% (FY2020 to FY2025).
- In earlier years, Cost of Revenue was $445.1 million in FY2024 (-7.0%), $478.5 million in FY2023 (+7.7%), $444.2 million in FY2022 (unchanged) and $444.2 million in FY2021 (+7.1%).
- Quarterly Cost of Revenue has moved between $105.8 million (Q2 2022) and $132.1 million (Q4 2025) over five years.
- Compared with a year earlier, Cost of Revenue has increased for six straight quarters, with growth averaging 6.7% over the last eight quarters.
- The best year-over-year quarter for Cost of Revenue over five years was Q2 2025 (growth of 15.6%); the worst was Q2 2024 (a decline of 10.9%).
- Per Business Quant data, DBX's Cost of Revenue in the three quarters before Q2 2026 was $128.1 million (Q1 2026), $132.1 million (Q4 2025) and $128.3 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Adobe | 92.94 Bn | 68.19 Bn | 6.00 Bn | 763.00 Mn |
| 2 | Atlassian | 48.88 Bn | 42.16 Bn | 1.53 Bn | 238.45 Mn |
| 3 | Twilio | 45.24 Bn | 35.23 Bn | 725.87 Mn | 773.22 Mn |
| 4 | Autodesk | 44.31 Bn | 32.34 Bn | 1.87 Bn | 176.00 Mn |
| 5 | Zoom Communications | 27.15 Bn | -3.64 Bn | 985.50 Mn | 291.72 Mn |
| 6 | Figma | 11.33 Bn | 4.84 Bn | 309.61 Mn | 60.47 Mn |
| 7 | Dropbox | 7.45 Bn | 3.08 Bn | 506.50 Mn | 125.00 Mn |
| 8 | Nice | 6.88 Bn | 5.35 Bn | 995.81 Mn | 439.04 Mn |
| 9 | RingCentral | 6.55 Bn | 6.05 Bn | 472.31 Mn | 184.70 Mn |
| 10 | Open Text | 5.38 Bn | 813.39 Mn | 1.01 Bn | 337.55 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 125.00 Mn |
| Mar 31, 2026 | 128.10 Mn |
| Dec 31, 2025 | 132.10 Mn |
| Sep 30, 2025 | 128.30 Mn |
| Jun 30, 2025 | 123.70 Mn |
| Mar 31, 2025 | 116.70 Mn |
| Dec 31, 2024 | 120.80 Mn |
| Sep 30, 2024 | 111.50 Mn |
| Jun 30, 2024 | 107.00 Mn |
| Mar 31, 2024 | 105.80 Mn |
| Dec 31, 2023 | 122.00 Mn |
| Sep 30, 2023 | 119.60 Mn |
| Jun 30, 2023 | 120.10 Mn |
| Mar 31, 2023 | 116.80 Mn |
| Dec 31, 2022 | 115.80 Mn |
| Sep 30, 2022 | 109.70 Mn |
| Jun 30, 2022 | 105.80 Mn |
| Mar 31, 2022 | 112.90 Mn |
| Dec 31, 2021 | 115.80 Mn |
| Sep 30, 2021 | 112.00 Mn |
API Access
Dropbox Cost of Revenue API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=DBX&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "cost-of-revenue", "ticker": "DBX", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=DBX&period=max&api_key=YOUR_API_KEY");
const data = await res.json();