Ross Tennenbaum

Dropbox's Q1 and Q2 2026 results both kept total reported revenue growth under 1% year-over-year, the company refinanced debt and repurchased hundreds of millions of dollars in stock over the same six months, and the period closed with a co-CEO handoff, a new product chief, and a routine, tax-related insider stock disposition reported by the Motley Fool.

Dropbox closed fiscal 2025 with revenue of about $2.52 billion, down roughly 1% year over year, paying users down to 18.07 million, and guidance for 2026 of essentially flat revenue — confirming that the core business has stopped growing even as margins expand.