Dropbox Inc Class A

DBX: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Dropbox Earnings: Declining Growth Is Unlikely to Be Saved by New AI Tool

Mark Giarelli

Nov 7, 2025

Dropbox third-quarter earnings beat management's revenue forecast of $624 million by 2%. The company also appears to be on track to meet its guidance of 82% non-GAAP gross margins and 40% non-GAAP operating margins. Still, the number of paying users fell to 18.07 million from 18.13 million.

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Dropbox Inc Class A

Dropbox Earnings: Declining Growth Is Unlikely to Be Saved by New AI Tool

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