The cloud storage firm raised its full-year revenue and unlevered free cash flow guidance after exceeding Q1 expectations.
Dropbox updated its fiscal 2026 revenue forecast to a range of $2.497 billion to $2.512 billion, up from prior guidance. The company also raised its unlevered free cash flow target to at least $1.055 billion, reflecting stronger-than-expected Q1 performance.
First-quarter revenue grew 2% year-over-year, excluding FormSwift, surpassing the high end of management’s guidance. Operating margins also improved, contributing to the upward revision in full-year projections.
The revised outlook follows a quarter where Dropbox exceeded key financial metrics, reinforcing confidence in its growth trajectory.