Dropbox (DBX) Gross Margin (2017 - 2026)
Dropbox (DBX) posted Gross Margin of 79.65% for Q1 2026, up 0.52% on a QoQ basis from 79.24% in Q4 2025, and down 167.0% year-over-year from 118.88% in Q1 2025.
Dropbox (DBX) Gross Margin (2017 - 2026) Analysis & Trends
Dropbox's Gross Margin history runs 10 years deep, the most recent figure standing at 79.65% for 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 was 79.65% for Q1 2026 at Dropbox, up from 79.24% in the prior quarter.
- Across five years, Gross Margin topped out at 83.24% in Q1 2024 and bottomed at 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 plunged 291 bps.
- Dropbox's Gross Margin stood at 80.66% in 2022, then rose by 0 bps to 80.79% in 2023, then increased by 1 bps to 81.23% in 2024, then slipped by 2 bps to 79.24% in 2025, then gained by 1 bps to 79.65% in 2026.
- Business Quant data shows DBX's Gross Margin at 79.65% in Q1 2026, 79.24% in Q4 2025, and 79.78% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 2,921.46 Bn | 2,797.02 Bn | 56.06 Bn | 67.63% |
| 2 | PagSeguro Digital | 2,686.70 Bn | 2,686.70 Bn | 358.92 Mn | 37.74% |
| 3 | Oracle | 344.13 Bn | 312.24 Bn | - | - |
| 4 | Repay Holdings | 342.29 Bn | 342.15 Bn | - | - |
| 5 | Palantir Technologies | 294.57 Bn | 286.54 Bn | 1.42 Bn | 86.78% |
| 6 | Palo Alto Networks | 224.46 Bn | 219.93 Bn | 1.91 Bn | 73.59% |
| 7 | CrowdStrike Holdings | 182.52 Bn | 179.42 Bn | 993.68 Mn | 76.12% |
| 8 | Fortinet | 111.29 Bn | 107.99 Bn | 1.49 Bn | 80.29% |
| 9 | Cloudflare | 93.63 Bn | 92.68 Bn | 455.60 Mn | 71.21% |
| 10 | Dropbox | 7.54 Bn | 6.25 Bn | 501.40 Mn | 79.65% |
Historic Data
Download Data| Date | Value |
|---|---|
| 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% |
| Jun 30, 2021 | 79.82% |