Dropbox (DBX) Gross Margin (2017 - 2026)
Dropbox's (DBX) quarterly Gross Margin came in at 79.65% in Q1 2026, down 167.0% YoY from 118.88% in Q1 2025, and up 0.52% on a QoQ basis from 79.24% in Q4 2025.
Dropbox (DBX) Gross Margin (2017 - 2026) Analysis & Trends
Dropbox (DBX) has 10 years of Gross Margin data on file, last reported at 79.65% in Q1 2026.
- Quarterly Gross Margin fell 167.0% year-over-year to 79.65% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 79.72% (down 234.0% YoY) and the FY2025 annual result came in at 80.13%, down 240.0% from the prior year.
- Gross Margin improved to 79.65% in Q1 2026, from 79.24% in the prior quarter.
- In the past five years, Gross Margin ranged from a high of 83.24% in Q1 2024 to a low of 79.24% in Q4 2025.
- A 5-year average of 81.02% and a median of 80.89% in 2023 frame the typical range for Gross Margin.
- Annual changes were most pronounced in 2024 — Gross Margin soared 243 bps — and 2025, when it sank 291 bps.
- Tracing DBX's Gross Margin over 5 years: stood at 80.66% in 2022, then grew by 0 bps to 80.79% in 2023, then climbed by 1 bps to 81.23% in 2024, then retreated by 2 bps to 79.24% in 2025, then increased by 1 bps to 79.65% in 2026.
- The last three Gross Margin figures came in at 79.65% (Q1 2026), 79.24% (Q4 2025), and 79.78% (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 3,576.39 Bn | 3,443.64 Bn | 60.48 Bn | 67.20% |
| 2 | Palantir Technologies | 412.58 Bn | 403.17 Bn | 1.64 Bn | 84.66% |
| 3 | Oracle | 407.66 Bn | 375.77 Bn | - | - |
| 4 | Palo Alto Networks | 299.27 Bn | 296.16 Bn | 2.03 Bn | 67.55% |
| 5 | Fortinet | 115.83 Bn | 111.76 Bn | 1.64 Bn | 80.24% |
| 6 | Cloudflare | 106.65 Bn | 102.48 Bn | 499.52 Mn | 71.76% |
| 7 | Synopsys | 76.61 Bn | 74.41 Bn | 1.77 Bn | 73.54% |
| 8 | CoreWeave | 51.53 Bn | 45.99 Bn | 1.70 Bn | 65.86% |
| 9 | Block | 47.55 Bn | 41.12 Bn | 3.17 Bn | 47.84% |
| 10 | Dropbox | 7.61 Bn | 6.50 Bn | 506.50 Mn | 80.21% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 80.21% |
| Mar 31, 2026 | 79.65% |
| Dec 31, 2025 | 79.24% |
| Sep 30, 2025 | 79.78% |
| Jun 30, 2025 | 80.23% |
| Mar 31, 2025 | 81.32% |
| Dec 31, 2024 | 81.23% |
| Sep 30, 2024 | 82.55% |
| Jun 30, 2024 | 83.14% |
| Mar 31, 2024 | 83.24% |
| Dec 31, 2023 | 80.79% |
| Sep 30, 2023 | 81.11% |
| Jun 30, 2023 | 80.71% |
| Mar 31, 2023 | 80.89% |
| Dec 31, 2022 | 80.66% |
| Sep 30, 2022 | 81.44% |
| Jun 30, 2022 | 81.53% |
| Mar 31, 2022 | 79.93% |
| Dec 31, 2021 | 79.52% |
| Sep 30, 2021 | 79.64% |