DROPBOX, INC.

Dropbox announced plans to acquire Tigris Data Inc. for approximately $350 million in cash, subject to customary adjustments. Tigris is a globally distributed object storage platform built for AI workloads. The acquisition is expected to close in the fourth quarter of 2026. In conjunction with the acquisition, Dropbox is launching DBX Agent Cloud, a new storage and data infrastructure offering that will initially provide standalone object storage. These moves are part of Dropbox's strategy to expand into AI infrastructure for companies and developers, and new AI-powered capabilities have already been rolled out to over 70,000 teams.

Dropbox reported a slight increase in Q2 2026 revenue to $631.5 million, up from $625.7 million in the prior year. However, net income for the quarter decreased significantly to $95.8 million from $125.6 million in Q2 2025, with basic EPS falling to $0.43. The company also incurred expenses related to a workforce reduction in Q2 2026 as part of a strategic reorganization. Year-to-date, Dropbox generated $443.0 million in net cash from operating activities, repurchased $697.1 million in common stock, and secured a new $1,200.0 million term loan while repaying $695.8 million in convertible senior notes.

Dropbox, Inc. announced its second quarter 2026 financial results, reporting total revenue of $631.5 million, a 0.9% increase year-over-year, and non-GAAP diluted earnings per share of $0.75. The company achieved $283.5 million in unlevered free cash flow and added 96,000 paying users, bringing the total to 18.19 million. CEO Ashraf Alkarmi highlighted the continued growth in the core business and strong non-GAAP operating margin performance.

Dropbox, Inc. announced it has entered into a new Revolving Credit and Guaranty Agreement, providing the company with up to $400 million in borrowing capacity. The proceeds from this facility can be utilized for working capital, general corporate purposes, and share repurchases. Concurrently, the company authorized a new share repurchase program for an additional $900 million of its Class A common stock, signaling a commitment to shareholder returns and financial flexibility. The credit facility, which matures on December 11, 2029, is secured by substantially all of the company's assets and includes customary covenants.

Dropbox, Inc. held its 2026 Annual Meeting of Stockholders on May 21, 2026, where all four proposals presented to stockholders were approved. Stockholders elected seven directors to the Board, ratified Ernst & Young LLP as the independent auditors for 2026, and approved the compensation of named executive officers on an advisory basis. Additionally, an amendment to the company's articles of incorporation to waive jury trials for internal actions was approved.

Dropbox, Inc. announced the appointment of Ashraf Alkarmi as Co-Chief Executive Officer and a member of the Board, effective May 26, 2026. He will serve alongside current CEO Andrew Houston during a transition period, after which Mr. Alkarmi will become sole CEO and Mr. Houston will move to Executive Chairman. Additionally, Michael Torres was appointed Chief Product Officer, effective July 7, 2026, bringing extensive product leadership experience.

Dropbox reported a net income of $114.5 million for the first quarter of 2026, a 23.8% decrease from $150.3 million in the prior year. Revenue saw a modest increase of 0.77% to $629.5 million. The company engaged in significant financing activities, including securing a new term loan facility of $1.2 billion and repaying $695.8 million in convertible senior notes, while also repurchasing $366.8 million of common stock.

Dropbox announced its first quarter 2026 financial results, reporting total revenue of $629.5 million, a 0.8% increase year-over-year, and a 2.0% increase excluding FormSwift. The company achieved a GAAP operating margin of 27.5% and a Non-GAAP operating margin of 40.1%. Net cash provided by operating activities significantly increased to $204.5 million, and unlevered free cash flow reached $236.4 million. The company also posted Non-GAAP diluted net income per share of $0.76, exceeding prior year's $0.70, despite a decrease in GAAP net income. Dropbox will wind down FormSwift operations by the end of 2026 and continues to expand Dash.