Dropbox (DBX) Gross Margin (2017 - 2026)
Dropbox (DBX) reported Gross Margin of 79.65% for Q1 2026, down 167.0% on a YoY basis from 118.88% in Q1 2025, and up 0.52% quarter-over-quarter from 79.24% in Q4 2025.
Dropbox (DBX) Gross Margin (2017 - 2026) Analysis & Trends
Dropbox has reported Gross Margin for 10 years, with the latest figure at 79.65% in Q1 2026.
- For the quarter ending Q1 2026, Gross Margin fell 167.0% year-over-year to 79.65%; the trailing twelve-month figure through Mar 2026 stood at 79.72% (down 234.0% YoY), and the FY2025 full-year result was 80.13%, down 240.0% from the prior year.
- Gross Margin for Q1 2026 stood at 79.65%, up from 79.24% in the prior quarter.
- The five-year high for Gross Margin was 83.24% in Q1 2024, with the low at 79.24% in Q4 2025.
- Historically, Gross Margin has averaged 81.02% across 5 years, with a median of 80.89% in 2023.
- Annual changes were most pronounced in 2024 — Gross Margin soared 243 bps — and 2025, when it sank 291 bps.
- Dropbox's Gross Margin 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 | 2,998.30 Bn | 2,920.03 Bn | 56.06 Bn | 67.63% |
| 2 | Alarum Technologies | 1,040.72 Bn | 1,026.57 Bn | 7.23 Mn | 61.73% |
| 3 | Oracle | 590.32 Bn | 551.74 Bn | 15.14 Bn | 88.06% |
| 4 | Palantir Technologies | 316.31 Bn | 308.39 Bn | 1.42 Bn | 86.78% |
| 5 | Palo Alto Networks | 181.17 Bn | 176.63 Bn | 1.91 Bn | 73.59% |
| 6 | CrowdStrike Holdings | 161.69 Bn | 158.63 Bn | 993.68 Mn | 76.12% |
| 7 | Fortinet | 102.35 Bn | 99.06 Bn | 1.49 Bn | 80.29% |
| 8 | Synopsys | 88.25 Bn | 88.13 Bn | 1.77 Bn | 73.54% |
| 9 | Cloudflare | 83.26 Bn | 82.32 Bn | 455.60 Mn | 71.21% |
| 10 | Dropbox | 6.44 Bn | 5.16 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% |