DROPBOX, INC.

Services-Prepackaged Software·SAN FRANCISCO, CA·FY end 12/31·CIK 1467623

CEO Pay Ratio

8:1

Andrew W. Houston

CEO Total Comp

$2.2M

Andrew W. Houston

Median Employee

—

Revenue

$2.5B

FY 2025

Net Income

$508.4M

FY 2025

Free Cash Flow

$930.8M

FY 2025

Net Margin

20.2%

Insider Net (180d)

-$14.7M

0 buys / 20 sales

CEO Pay Accountability

CEO comp as % of net income

0.43%

For every $1,000 of profit, $4.26 flows to the CEO.

CEO comp as % of buybacks

0.13%

CEO comp equals 1.3‰ of cash returned to shareholders via buybacks.

5-year history · USD

Metric	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	Trend
Revenue	$2.5B	$2.5B	$2.5B	$2.3B	$2.2B
Gross Profit	$2.0B	$2.1B	$2.0B	$1.9B	$1.7B
Operating Income	$689.1M	$486.2M	$538.7M	$181.3M	$274.4M
Net Income	$508.4M	$452.3M	$453.6M	$553.2M	$335.8M
Operating CF	$951.8M	$894.1M	$783.7M	$797.3M	$729.8M
Capex	$21.0M	$22.5M	$24.3M	$33.8M	$22.1M
Free Cash Flow	$930.8M	$871.6M	$759.4M	$763.5M	$707.7M
Buybacks	$1.7B	$1.2B	$539.9M	$795.4M	$1.1B
Dividends	—	—	—	—	—	—

Gross Margin	80.1%	82.5%	80.9%	80.9%	79.4%
Operating Margin	27.3%	19.1%	21.5%	7.8%	12.7%
Net Margin	20.2%	17.7%	18.1%	23.8%	15.6%
FCF Margin	36.9%	34.2%	30.4%	32.8%	32.8%
R&D / Revenue	29.0%	35.9%	37.4%	38.4%	35.0%
Effective Tax	17.7%	11.3%	18.2%	-187.1%	-12.2%
Debt / Equity	—	—	—	—	—	—
Buybacks / FCF	184.1%	142.5%	71.1%	104.2%	149.6%

FY 2025

Executive	Salary	Stock	Options	Bonus / Inc.	Other	Total
Ashraf Alkarmi General Managerand Senior Vice President, Core Products	$500.0K	$16.2M	—	$586.0K	$9.8K	$17.3M
Ali DasdanChief Technology Officer	$415.1K	$16.3M	—	$391.0K	$9.5K	$17.1M
Timothy ReganFormer Chief Financial Officer	$560.0K	$5.6M	—	$558.0K	$256.0K	$7.0M
William YoonChief Legal Officer	$461.3K	$5.1M	—	$375.0K	$9.3K	$5.9M
Andrew W. HoustonChief Executive Officer and Co-Founder	$800.0K	—	—	$750.4K	$616.2K	$2.2M
Ross TennenbaumChief Financial Officer	$22.9K	—	—	$350.0K	—	$372.9K