Dropbox Inc Class A

DBX: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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User Growth Improves, but Monetization Still Lags for Dropbox

Mark Giarelli

Aug 20, 2026

Business Strategy and Outlook

Dropbox is a content management software solution. Dash for Business, the company's AI-powered universal search feature, aims to compete with similar products in a world dominated by unstructured cloud data and artificial intelligence. We believe this is a continuation of an uphill battle against tech giants already well-equipped to win. Dropbox’s main competition in AI-powered universal search is giants Microsoft (Copilot) and Google, and a new entrant, Glean, which has developed an interconnected, large-language-model-powered search tool.

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How we make money

We sell different types of products and services to both investment professionals and individual investors. These products and services are usually sold through license agreements or subscriptions. Our investment management business generates asset-based fees, which are calculated as a percentage of assets under management. We also sell both admissions and sponsorship packages for our investment conferences and advertising on our websites and newsletters.

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How we use your information depends on the product and service that you use and your relationship with us. We may use it to:

Verify your identity, personalize the content you receive, or create and administer your account.
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Develop and improve features of our offerings.
Gear advertisements and other marketing efforts towards your interests.

To learn more about how we handle and protect your data, visit our privacy center.

How we approach editorial content

Maintaining independence and editorial freedom is essential to our mission of empowering investor success. We provide a platform for our authors to report on investments fairly, accurately, and from the investor’s point of view. We also respect individual opinions––they represent the unvarnished thinking of our people and exacting analysis of our research processes. Our authors can publish views that we may or may not agree with, but they show their work, distinguish facts from opinions, and make sure their analysis is clear and in no way misleading or deceptive.

To further protect the integrity of our editorial content, we keep a strict separation between our sales teams and authors to remove any pressure or influence on our analyses and research.

Read our editorial policy to learn more about our process.

United States

Dropbox Inc Class A

User Growth Improves, but Monetization Still Lags for Dropbox

Business Strategy and Outlook

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