Dropbox, Inc.
Cash Flow Statement
| Line Item | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $95.8M | $114.5M | $108.7M | $123.8M | $125.6M | $150.3M | $102.8M | $106.7M |
| Depreciation & Amortization | — | — | — | — | — | — | — | — |
| Depreciation | $31.5M | $32.7M | $34.2M | $33.1M | $32.6M | $31.7M | $30.7M | $27.9M |
| Amortization | $5.0M | $6.3M | $6.7M | $6.5M | $6.3M | $6.4M | $7.2M | $7.5M |
| Stock-Based Compensation | $77.3M | $71.1M | $77.4M | $78.6M | $77.7M | $67.1M | $85.7M | $92.3M |
| Net Cash from Operating Activities | $238.5M | $204.5M | $235.4M | $302.1M | $260.5M | $153.8M | $213.8M | $274.2M |
| Investing Activities | ||||||||
| Capital Expenditures | $3.3M | $1.2M | $10.5M | $8.4M | $2.0M | $100.0K | $3.3M | $4.1M |
| Business Acquisitions | — | — | — | — | — | — | — | — |
| Net Cash from Investing Activities | $19.2M | $66.9M | $45.9M | $17.8M | $12.4M | $35.8M | $113.8M | $153.1M |
| Financing Activities | ||||||||
| Dividends Paid | — | — | — | — | — | — | — | — |
| Stock Repurchases | $330.3M | $366.8M | $415.0M | $389.8M | $410.0M | $499.1M | $353.3M | $348.7M |
| Net Cash from Financing Activities | $-410.0M | $46.2M | $-140.8M | $-323.6M | $-487.8M | $-578.5M | $523.9M | $-431.1M |
| Net Change in Cash | $-153.7M | $316.2M | $141.7M | $-5.0M | $-205.7M | $-385.6M | $842.9M | $2.5M |
| Free Cash Flow | $235.2M | $203.3M | $224.9M | $293.7M | $258.5M | $153.7M | $210.5M | $270.1M |