Dropbox (DBX) 10-Q 8 May 23 2023 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2023	May 03, 2023
Class of Stock [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2023
Document Transition Report	false
Entity File Number	001-38434
Entity Registrant Name	Dropbox, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	26-0138832
Entity Address, Address Line One	1800 Owens Street
Entity Address, City or Town	San Francisco
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94158
City Area Code	415
Local Phone Number	857-6800
Title of 12(b) Security	Class A Common Stock, par value $0.00001 per share
Trading Symbol	DBX
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0001467623
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus (i.e. Q1,Q2,Q3,FY)	Q1
Amendment Flag	false
Class A common stock
Class of Stock [Line Items]
Entity Common Stock, Shares Outstanding		268,167,245
Class B common stock
Class of Stock [Line Items]
Entity Common Stock, Shares Outstanding		81,500,186
Class C common stock
Class of Stock [Line Items]
Entity Common Stock, Shares Outstanding		0

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 332.7	$ 232.8
Short-term investments	920.4	1,110.6
Trade and other receivables, net	57.6	53.8
Prepaid expenses and other current assets	89	92.6
Total current assets	1,399.7	1,489.8
Property and equipment, net	307.2	308.4
Operating lease right-of-use asset	248.2	260.6
Intangible assets, net	80.8	88.3
Goodwill	402.5	403.3
Deferred tax assets	495.4	498.7
Other assets	59.9	61
Total assets	2,993.7	3,110.1
Current liabilities:
Accounts payable	38.6	38.6
Accrued and other current liabilities	167.1	139.9
Accrued compensation and benefits	40.1	131.7
Operating lease liability	64.8	68.9
Finance lease obligation	114.2	114.8
Deferred revenue	727.7	702.6
Total current liabilities	1,152.5	1,196.5
Operating lease liability, non-current	569.6	585.2
Finance lease obligation, non-current	154.8	151.7
Convertible senior notes, net, non-current	1,375	1,374
Other non-current liabilities	107	112.1
Total liabilities	3,358.9	3,419.5
Commitments and contingencies (Note 10)
Stockholders' deficit:
Additional paid-in-capital	2,501.6	2,511.6
Accumulated deficit	(2,827.5)	(2,772.1)
Accumulated other comprehensive loss	(39.3)	(48.9)
Total stockholders' deficit	(365.2)	(309.4)
Total liabilities and stockholders' deficit	$ 2,993.7	$ 3,110.1

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions		3 Months Ended
		Mar. 31, 2023	Mar. 31, 2022
Income Statement [Abstract]
Revenue		$ 611.1	$ 562.4
Cost of revenue	[1]	116.8	112.9
Gross profit		494.3	449.5
Operating expenses
Research and development	[1]	235.2	210.8
Sales and marketing	[1]	119.2	95.7
General and administrative	[1]	55.8	53.5
Total operating expenses	[1]	410.2	360
Income from operations		84.1	89.5
Interest income (expense), net		3.9	(1.4)
Other (loss) income, net		(0.4)	5.7
Income before income taxes		87.6	93.8
Provision for income taxes		(18.6)	(14.1)
Net income		$ 69	$ 79.7
Basic net income per share (in dollars per share)		$ 0.20	$ 0.22
Diluted net income per share (in dollars per share)		$ 0.20	$ 0.21
Weighted-average shares used in computing net income per share attributable to common stockholders, basic (in shares)		347.1	370.7
Weighted-average shares used in computing net income per share attributable to common stockholders, diluted (in shares)		348.8	372.9
[1]Includes stock-based compensation as follows: Three Months Ended 2023 2022 Cost of revenue $ 5.4 $ 5.7 Research and development (2) 52.9 50.5 Sales and marketing 5.5 4.5 General and administrative 12.2 11.6 (2) On March 15, 2023, the Company's President resigned, resulting in the reversal of $6.7 million in stock-based compensation expense. Of the total amount reversed, $4.4 million related to expense recognized prior to January 1, 2023.

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Parenthetical) - USD ($) $ in Millions			3 Months Ended		12 Months Ended
		Mar. 15, 2023	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Cost of revenue
Allocated share-based compensation expense			$ 5.4	$ 5.7
Research and development
Allocated share-based compensation expense	[1]		52.9	50.5
Research and development | President
Allocated share-based compensation expense		$ (6.7)			$ 4.4
Sales and marketing
Allocated share-based compensation expense			5.5	4.5
General and administrative
Allocated share-based compensation expense			$ 12.2	$ 11.6
[1]Includes stock-based compensation as follows: Three Months Ended 2023 2022 Cost of revenue $ 5.4 $ 5.7 Research and development (2) 52.9 50.5 Sales and marketing 5.5 4.5 General and administrative 12.2 11.6 (2) On March 15, 2023, the Company's President resigned, resulting in the reversal of $6.7 million in stock-based compensation expense. Of the total amount reversed, $4.4 million related to expense recognized prior to January 1, 2023.

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Statement of Comprehensive Income [Abstract]
Net income	$ 69	$ 79.7
Other comprehensive income (loss):
Change in foreign currency translation adjustments	(0.7)	(1.2)
Change in net unrealized gains and losses on short-term investments	10.3	(24.3)
Total other comprehensive income (loss)	9.6	(25.5)
Comprehensive income	$ 78.6	$ 54.2

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' DEFICIT - USD ($) shares in Millions, $ in Millions	Total	Common Stock	Additional paid in capital	Accumulated deficit	Accumulated other comprehensive income (loss)
Shares outstanding, beginning of the period (in shares) at Dec. 31, 2021		375.5
Shareholders equity, beginning balance at Dec. 31, 2021	$ (293.9)	$ 0	$ 2,448.1	$ (2,739.4)	$ (2.6)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Release of restricted stock units and awards (in shares)		3.9
Shares withheld related to net share settlement of restricted stock units and awards (in shares)		(1.5)
Shares withheld related to net share settlement of restricted stock units and awards	(36.7)		(12.2)	(24.5)
Repurchases of common stock (in shares)		(11)
Repurchases of common stock	(259.9)		(89.2)	(170.7)
Exercise of stock options and awards (in shares)		0.1
Exercise of stock options and awards	0.2		0.2
Tax benefit attributable to bond hedges purchased in connection with issuance of convertible senior notes	0.5		0.5
Stock-based compensation	72.3		72.3
Other comprehensive income (loss)	(25.5)				(25.5)
Net income	79.7			79.7
Shares outstanding, end of the period (in shares) at Mar. 31, 2022		367
Shareholders equity, ending balance at Mar. 31, 2022	(463.3)	$ 0	2,419.7	(2,854.9)	(28.1)
Shares outstanding, beginning of the period (in shares) at Dec. 31, 2022		349.4
Shareholders equity, beginning balance at Dec. 31, 2022	$ (309.4)	$ 0	2,511.6	(2,772.1)	(48.9)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Release of restricted stock units and awards (in shares)		3.7
Shares withheld related to net share settlement of restricted stock units and awards (in shares)	(1.4)	(1.4)
Shares withheld related to net share settlement of restricted stock units and awards	$ (34.1)		(12.9)	(21.2)
Repurchases of common stock (in shares)		(8.1)
Repurchases of common stock	$ (176.5)		(73.3)	(103.2)
Exercise of stock options and awards (in shares)	0.1	0.1
Exercise of stock options and awards	$ 0.2		0.2
Stock-based compensation	76		76
Other comprehensive income (loss)	9.6				9.6
Net income	69			69
Shares outstanding, end of the period (in shares) at Mar. 31, 2023		343.7
Shareholders equity, ending balance at Mar. 31, 2023	$ (365.2)	$ 0	$ 2,501.6	$ (2,827.5)	$ (39.3)

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Cash flow from operating activities
Net income	$ 69	$ 79.7
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	42.5	39.4
Stock-based compensation	76	72.3
Amortization of debt issuance costs	1	1
Amortization of deferred commissions	10.7	9
Non-cash operating lease expense	12.7	17.2
Deferred taxes	3.4	6.4
Other	0.7	1.8
Changes in operating assets and liabilities:
Trade and other receivables, net	(3.8)	4.8
Prepaid expenses and other current assets	(7.2)	(9.7)
Other assets	1.1	2.5
Accounts payable	(0.3)	(1)
Accrued and other current liabilities	25.6	14.7
Accrued compensation and benefits	(91.6)	(94.5)
Deferred revenue	24.7	19.5
Other non-current liabilities	(4.7)	(2.3)
Operating lease liabilities	(19.9)	(20.3)
Tenant improvement allowance reimbursement	0	0.9
Net cash provided by operating activities	139.9	141.4
Cash flow from investing activities
Capital expenditures	(1.9)	(10.7)
Purchases of short-term investments	(30.9)	(81.6)
Proceeds from sales of short-term investments	152.7	51.8
Proceeds from maturities of short-term investments	77.6	137.5
Other	3.3	4
Net cash provided by investing activities	200.8	101
Cash flow from financing activities
Payments for taxes related to net share settlement of restricted stock units and awards	(34.1)	(36.7)
Proceeds from issuance of common stock, net of taxes withheld	0.2	0.2
Principal payments on finance lease obligations	(32)	(32.4)
Common stock repurchases	(175.4)	(259.9)
Net cash used in financing activities	(241.3)	(328.8)
Effect of exchange rate changes on cash and cash equivalents	0.5	(1.1)
Change in cash and cash equivalents	99.9	(87.5)
Cash and cash equivalents - beginning of period	232.8	533
Cash and cash equivalents - end of period	332.7	445.5
Supplemental cash flow data:
Property and equipment acquired under finance leases	$ 34.5	$ 19.7

Description of the Business and

Description of the Business and Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of the Business and Summary of Significant Accounting Policies	Description of the Business and Summary of Significant Accounting Policies Business Dropbox, Inc. (the “Company” or “Dropbox”) helps keep life organized and work moving. The Company was incorporated in May 2007 as Evenflow, Inc., a Delaware corporation, and changed its name to Dropbox, Inc. in October 2009. The Company is headquartered in San Francisco, California. Basis of presentation and consolidation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the United States of America generally accepted accounting principles (“GAAP”) and applicable rules and regulations of the SEC regarding interim financial reporting. The accompanying unaudited condensed consolidated financial statements include the accounts of Dropbox and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. The condensed consolidated balance sheet as of December 31, 2022 included herein was derived from the audited financial statements as of that date. The unaudited condensed consolidated financial statements reflect all normal recurring adjustments necessary to present fairly the balance sheets, statements of operations, statements of comprehensive income, statements of stockholders' deficit and the statements of cash flows for the interim periods, but are not necessarily indicative of the results of operations to be anticipated for the full fiscal year ended December 31, 2023 or any future period. The unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the related notes thereto as of and for the year ended December 31, 2022, included in the Company's Annual Report on Form 10-K on file with the SEC ("Annual Report"). Use of estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported and disclosed in the Company’s condensed consolidated financial statements and accompanying notes. These estimates are based on information available as of the date of the condensed consolidated financial statements. Management evaluates these estimates and assumptions on a regular basis. Actual results may differ materially from these estimates. The Company’s most significant estimates and judgments involve the valuation of right-of-use and other lease related assets and income taxes. Financial information about segments and geographic areas The Company manages its operations and allocates resources as a single operating segment. Further, the Company manages, monitors, and reports its financials as a single reporting segment. The Company’s chief operating decision-maker is its Chief Executive Officer, who reviews financial information presented on a consolidated basis for purposes of making operating decisions, assessing financial performance, and allocating resources. See Note 15 "Geographic Areas" to our condensed consolidated financial statements included elsewhere in this Quarterly Report on Form 10-Q for information regarding the Company’s long-lived assets and revenue by geography. Foreign currency transactions The assets and liabilities of the Company’s foreign subsidiaries are translated from their respective functional currencies into U.S. dollars at the exchange rates in effect at the balance sheet date. Revenue and expense amounts are translated at the average exchange rate for the period. Foreign currency translation gains and losses are recorded in other comprehensive income (loss), net of tax. Gains and losses realized from foreign currency transactions (those transactions denominated in currencies other than the foreign subsidiaries’ functional currency) are included in other income, net. Monetary assets and liabilities are remeasured using foreign currency exchange rates at the end of the period, and non-monetary assets are remeasured based on historical exchange rates. The Company recorded net foreign currency transaction gains of $0.8 million and $2.8 million during the three months ended March 31, 2023 and 2022, respectively. Revenue recognition The Company derives its revenue from subscription fees from customers for access to its platform. The Company’s policy is to exclude sales and other indirect taxes when measuring the transaction price of its subscription agreements. The Company accounts for revenue contracts with customers through the following steps: • Identification of the contract, or contracts, with a customer • Identification of the performance obligations in the contract • Determination of the transaction price • Allocation of the transaction price to the performance obligations in the contract • Recognition of revenue when, or as, the Company satisfies a performance obligation The Company’s subscription agreements generally have monthly or annual contractual terms and a small percentage have multi-year contractual terms. Revenue is recognized ratably over the related contractual term beginning on the date that the platform is made available to a customer. Access to the platform represents a series of distinct services as the Company continually provides access to, and fulfills its obligation to the end customer over the subscription term. The series of distinct services represents a single performance obligation that is satisfied over time. The Company recognizes revenue ratably because the customer receives and consumes the benefits of the platform throughout the contract period. The Company’s contracts are generally non-cancelable. The Company bills in advance for monthly contracts and typically bills annually in advance for contracts with terms of one year or longer. The Company also recognizes an immaterial amount of contract assets, or unbilled receivables, primarily relating to consideration for services completed but not billed at the reporting date. Unbilled receivables are classified as receivables when the Company has the right to invoice the customer. The Company records contract liabilities when cash payments are received or due in advance of performance to deferred revenue. Deferred revenue primarily relates to the advance consideration received from the customer. The price of subscriptions is generally fixed at contract inception and therefore, the Company’s contracts do not contain a significant amount of variable consideration. As a result, the amount of revenue recognized in the periods presented from performance obligations satisfied (or partially satisfied) in previous periods was not material. The Company recognized $331.5 million and $313.7 million of revenue during the three months ended March 31, 2023 and 2022, respectively, that was included in the deferred revenue balances at the beginning of their respective periods. As of March 31, 2023, future estimated revenue related to performance obligations that were unsatisfied or partially unsatisfied was $797.1 million. The substantial majority of the unsatisfied performance obligations will be satisfied over the next twelve months. Stock-based compensation The Company has primarily granted restricted stock units (“RSUs”) to its employees and members of the Board of Directors under the 2008 Equity Incentive Plan (“2008 Plan”), the 2017 Equity Incentive Plan (“2017 Plan”), and the 2018 Equity Incentive Plan (“2018 Plan” and together with the 2008 Plan and 2017 Plan, the "Dropbox Equity Incentive Plans”). Since August 2015, the Company has granted RSUs, which have a service based vesting condition over a four-year period vesting quarterly, as the only stock-based payment awards to its employees, with the exception of awards granted to its co-founder and certain executives, and has not granted any stock options to employees under the Dropbox Equity Incentive Plans. The Company recognizes compensation expense associated with RSUs on a straight-line basis over the requisite service period and accounts for forfeitures in the period in which they occur. The Board of Directors determines the fair value of each share of underlying common stock based on the closing price of the Company's Class A common stock as reported on the Nasdaq Global Select Market on the date of the grant. In December 2017, the Board of Directors approved the Company’s Co-Founder Grant, consisting of 10.3 million shares of Class A Common Stock in the form of restricted stock awards ("RSAs") which were granted to Drew Houston, the Company’s co-founder and Chief Executive Officer. This Co-Founder Grant has service-based, market-based, and performance-based vesting conditions. The Co-Founder Grant is excluded from Class A common stock issued and outstanding until the satisfaction of these vesting conditions. The Company estimated the grant date fair value of the Co-Founder Grant using a model based on multiple stock price paths developed through the use of a Monte Carlo simulation that incorporates into the valuation the possibility that the certain stock price targets may not be satisfied. The first tranche of the Co-Founder Grant vested in the fourth quarter of 2021. The stock-based compensation expense for the Co-Founder Grant is recognized utilizing the accelerated attribution method over the requisite service period identified as the derived service period over which the market conditions are expected to be achieved, and is not reversed if the market conditions are not satisfied. Therefore no incremental stock-based compensation was recognized upon vesting of these RSAs. See Note 12, "Stockholders' Deficit" to our condensed consolidated financial statements included elsewhere in this Quarterly Report on Form 10-Q for further information. Cost of revenue Cost of revenue consists primarily of expenses associated with the storage, delivery, and distribution of the Company’s platform for both paying users and free users. These costs, which are referred to as infrastructure costs, include depreciation of servers located in co-location facilities that the Company leases and operates, rent and facilities expense for those datacenters, network and bandwidth costs, support and maintenance costs for infrastructure equipment, and payments to third-party datacenter service providers. Cost of revenue also includes costs, such as salaries, bonuses, benefits, travel-related expenses, and stock-based compensation, which are referred to as employee-related costs, for employees whose primary responsibilities relate to supporting the Company’s infrastructure and delivering user support. Other non-employee costs included in cost of revenue include credit card fees related to processing customer transactions and allocated overhead, such as facilities, including rent, utilities, depreciation on leasehold improvements and other equipment shared by all departments, and shared information technology costs. In addition, cost of revenue includes amortization of developed technologies, professional fees related to user support initiatives, and property taxes related to the datacenters. Cash and cash equivalents Cash consists primarily of cash on deposit with banks and includes amounts in transit from payment processors for credit and debit card transactions, which typically settle within five business days. Cash equivalents include highly liquid investments purchased with an original maturity date of 90 days or less from the date of purchase. The Company monitors its credit risk by considering factors such as historical experience, credit ratings, current economic conditions, and reasonable and supportable forecasts. Short-term investments The Company’s short-term investments are primarily comprised of corporate notes and obligations, U.S. Treasury securities, certificates of deposit, asset-backed securities, commercial paper, U.S. agency obligations, foreign government securities, supranational securities, and municipal securities. The Company determines the appropriate classification of its short-term investments at the time of purchase and reevaluates such designation at each balance sheet date. The Company has classified and accounted for its short-term investments as available-for-sale securities as the Company may sell these securities at any time for use in its current operations or for other purposes, even prior to maturity. As a result, the Company classifies its short-term investments, including securities with stated maturities beyond twelve months, within current assets in the condensed consolidated balance sheets. The Company's short-term investments are recorded at fair value each reporting period. Unrealized gains and losses on these short-term investments are reported as a separate component of accumulated other comprehensive loss in the condensed consolidated balance sheets until realized. Unrealized gains and losses for any short-term investments that management intends to sell or it is more likely than not that management will be required to sell prior to their anticipated recovery are recorded in other income, net. The Company segments its portfolio based on the underlying risk profiles of the securities and has a zero-loss expectation for U.S. treasury and U.S. government agency securities. The Company regularly reviews the securities in an unrealized loss position and evaluates the current expected credit loss by considering factors such as credit ratings, issuer-specific factors, current economic conditions, and reasonable and supportable forecasts. The Company did not record any material credit losses during the three months ended March 31, 2023. As of March 31, 2023 and December 31, 2022, no allowance for credit losses in short-term investments was recorded. Concentrations of credit risk Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash, cash equivalents, accounts receivable, and short-term investments. Although the Company deposits its cash and short-term investments with multiple well-established financial institutions, the deposits, at times, may exceed federally insured limits. The Company has not experienced any losses on its deposits of cash and cash equivalents and management believes that the institutions where the Company has deposits are financially stable and, accordingly, minimal credit risk exists. Trade accounts receivable are typically unsecured and are derived from revenue earned from customers located around the world. Two distribution partners accounted for 11% and 49% of total trade and other receivables, net as of March 31, 2023. Two distribution partners accounted for 12% and 30% o f total trade and other receivables, net as of December 31, 2022. No customer accounted for more than 10% of the Company’s revenue in the periods presented. Deferred commissions, net Deferred commissions, net is stated as gross deferred commissions less accumulated amortization. Deferred commissions are considered to be incremental and recoverable costs of obtaining a contract with a customer such as sales commissions earned by the Company’s sales force including related payroll taxes, and revenue share earned by strategic partners. These amounts have been capitalized as deferred commissions within prepaid and other current assets and other assets on the condensed consolidated balance sheets. The Company deferred incremental costs of obtaining a contract of $6.1 million and $7.6 million during the three months ended March 31, 2023 and 2022, respectively. Deferred commissions, net included in prepaid and other current assets were $30.1 million and $33.6 million as of March 31, 2023 and December 31, 2022, respectively. Deferred commissions, net included in other assets were $24.6 million and $25.7 million as of March 31, 2023 and December 31, 2022, respectively. Commissions related to new contracts are typically deferred and amortized over a period of benefit of five years. The period of benefit was estimated by considering factors such as historical customer attrition rates, the useful life of the Company’s technology, and the impact of competition in its industry. Commissions that are commensurate with renewal contracts are typically amortized over one year. Amortization of deferred commissions was $10.7 million and $9.0 million for the three months ended March 31, 2023 and 2022, respectively. Amortization of deferred commissions costs are included in sales and marketing expense in the accompanying condensed consolidated statements of operations. There was no impairment loss in relation to the deferred costs for any period presented. Property and equipment, net Equipment is stated at cost less accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful life of the related asset, which is generally three The following table presents the estimated useful lives of property and equipment: Property and equipment Useful life Buildings 20 to 30 years Datacenter and other computer equipment 3 to 5 years Office equipment and other 3 to 7 years Leasehold improvements Lesser of estimated useful life or remaining lease term Lease obligations The Company leases office space, datacenters, and equipment under non-cancelable finance and operating leases with various expiration dates through 2036. The Company determines if an arrangement contains a lease at inception. Operating lease right-of-use assets and lease liabilities are recognized at the present value of the future lease payments at commencement date. The interest rate implicit in the Company’s operating leases is not readily determinable, and therefore an incremental borrowing rate is estimated to determine the present value of future payments. The estimated incremental borrowing rate factors in a hypothetical interest rate on a collateralized basis with similar terms, payments, and economic environments. Operating lease right-of-use assets also include any prepaid lease payments and lease incentives. Certain of the operating lease agreements contain rent concession, rent escalation, and option to renew provisions. Rent concession and rent escalation provisions are considered in determining the single lease cost to be recorded over the lease term. Single lease cost is recognized on a straight-line basis over the lease term commencing on the date the Company has the right to use the leased property. The lease terms may include options to extend or terminate the lease. The Company generally uses the base, non-cancelable, lease term when recognizing the lease assets and liabilities, unless it is reasonably certain that the option will be exercised. In addition, certain operating lease agreements contain tenant improvement allowances from its landlords. These allowances are accounted for as lease incentives and decrease the Company's right-of-use asset and reduce single lease cost over the lease term. As part of the Company's Virtual First strategy, Dropbox has retained a portion of its office space for in-person collaboration while the remainder will be subleased. Subsequently, the Company has recorded impairment charges in prior quarters as a result of adverse changes in the corporate real estate market in the San Francisco Bay area which has impacted our subleasing strategy in conjunction with the Company's shift to Virtual First. During the three months ended March 31, 2023 and 2022, the Company did not recognize any impairment charge related to right-of-use assets and other lease related property and equipment assets. See Note 9 "Leases" to our condensed consolidated financial statements included elsewhere in this Quarterly Report on Form 10-Q for further information. The Company leases certain equipment from various third parties, through equipment finance leases. These leases either include a bargain purchase option, a full transfer of ownership at the completion of the lease term, or the terms of the leases are at least 75 percent of the useful lives of the assets and are therefore classified as finance leases. These leases are capitalized in property and equipment, net and the related amortization of assets under finance leases is included in depreciation and amortization expense in the Company’s condensed consolidated statements of operations. Initial asset values and finance lease obligations are based on the present value of future minimum lease payments. The Company’s finance lease agreements may contain lease and non-lease components. The non-lease components include payments for support on infrastructure equipment obtained via finance leases, which when not significant in relation to the overall agreement, are combined with the lease components and accounted for together as a single lease component. Business combinations The Company uses best estimates and assumptions, including but not limited to, future expected cash flows, expected asset lives, and discount rates, to assign a fair value to the tangible and intangible assets acquired and liabilities assumed in business combinations as of the acquisition date. These estimates are inherently uncertain and subject to refinement. During the measurement period, which may be up to one year from the acquisition date, adjustments to the fair value of these tangible and intangible assets acquired and liabilities assumed may be recorded, with the corresponding offset to goodwill. Upon the conclusion of the measurement period or final determination of the fair value of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded to the Company’s condensed consolidated statements of operations. Long-lived assets, including goodwill and other acquired intangible assets, net The Company evaluates the recoverability of its property and equipment and finite-lived intangible assets for possible impairment whenever events or circumstances indicate that the carrying amount of such assets may not be recoverable. The evaluation is performed at the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets and liabilities. Recoverability of these assets is measured by a comparison of the carrying amounts to the future undiscounted cash flows the assets are expected to generate. If such review determines that the carrying amount of specific property and equipment or intangible assets is not recoverable, the carrying amount of such assets is reduced to its fair value. The Company reviews goodwill for impairment at least annually in the fourth quarter, or more frequently if events or changes in circumstances would more likely than not reduce the fair value of its single reporting unit below its carrying value. The Company has not recorded impairment charges on goodwill or intangible assets for the periods presented in these condensed consolidated financial statements. Acquired property and equipment and finite-lived intangible assets are amortized over their useful lives. The Company evaluates the estimated remaining useful life of these assets when events or changes in circumstances warrant a revision to the remaining period of amortization. If the Company revises the estimated useful life assumption for any asset, the remaining unamortized balance is amortized or depreciated over the revised estimated useful life on a prospective basis. Income taxes Deferred income tax balances reflect the effects of temporary differences between the financial reporting and tax bases of the Company’s assets and liabilities using enacted tax rates expected to apply when taxes are actually paid or recovered. In addition, deferred tax assets are recorded for net operating loss and credit carryforwards. A valuation allowance is provided against deferred tax assets unless it is more likely than not that they will be realized based on all available positive and negative evidence. Such evidence includes, but is not limited to, recent cumulative earnings or losses, expectations of future taxable income by taxing jurisdiction, and the carry-forward periods available for the utilization of deferred tax assets. The Company uses a two-step approach to recognizing and measuring uncertain income tax positions. The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates it is more likely than not that the position will be sustained on audit. The second step is to measure the tax benefit as the largest amount, which is more than 50% likely of being realized upon ultimate settlement. The Company recognizes interest and penalties related to unrecognized tax benefits as income tax expense. Although the Company believes that it has adequately reserved for its uncertain tax positions, it can provide no assurance that the final tax outcome of these matters will not be materially different. The Company evaluates its uncertain tax positions on a regular basis and evaluations are based on a number of factors, including changes in facts and circumstances, changes in tax law, correspondence with tax authorities during the course of an audit, and effective settlement of audit issues. To the extent that the final tax outcome of these matters is different than the amounts recorded, such differences will affect the provision for income taxes in the period in which such determination is made and could have a material impact on the Company’s financial condition and results of operations. The Tax Cuts and Jobs Act of 2017 ("TCJA") subjects a U.S. shareholder to current tax global intangible low-taxed income ("GILTI") earned by foreign subsidiaries. The Company accounts for GILTI as a period cost as incurred. Fair value measurement The Company applies fair value accounting for all financial assets and liabilities and non-financial assets and liabilities that are recognized or disclosed at fair value in the financial statements on a recurring basis. The Company defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining fair value measurements for assets and liabilities, the Company considers the principal or most advantageous market in which it would transact and the market-based risk measurements or assumptions that market participants would use in pricing the asset or liability, such as risks inherent in valuation techniques, transfer restrictions, and credit risk. Fair value is estimated by applying the following hierarchy, which prioritizes the inputs used to measure fair value into three levels and bases the categorization within the hierarchy upon the lowest level of input that is available and significant to the fair value measurement: Level 1 —Quoted prices in active markets for identical assets or liabilities. Level 2 —Observable inputs other than quoted prices in active markets for identical assets and liabilities, quoted prices for identical or similar assets or liabilities in inactive markets, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 —Inputs that are generally unobservable and typically reflect management’s estimate of assumptions that market participants would use in pricing the asset or liability. Recently adopted accounting pronouncements In March 2022, the FASB issued ASU 2022-02, Financial Instruments—Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures, which eliminates the accounting guidance on troubled debt restructurings for creditors in ASC 310-40 and amends the guidance on "vintage disclosures" to require disclosure of current-period gross write-offs by year of origination. The ASU also updates the requirements related to accounting for credit losses under ASC 326 and adds enhanced disclosures for creditors with respect to loan refinancings and restructurings for borrowers experiencing financial difficulty. The Company adopted ASU 2022-02 on January 1, 2023. The adoption of the standard did not have a material impact on the Company's condensed consolidated financial statements.

Cash, Cash Equivalents and Shor

Cash, Cash Equivalents and Short-Term Investments	3 Months Ended
	Mar. 31, 2023
Cash and Cash Equivalents [Abstract]
Cash, Cash Equivalents and Short-Term Investments	Cash, Cash Equivalents and Short-Term Investments The amortized cost, unrealized gains and losses and estimated fair value of the Company's cash, cash equivalents and short-term investments as of March 31, 2023 and December 31, 2022 consisted of the following: As of March 31, 2023 Amortized Cost Unrealized Gain Unrealized Loss Estimated Fair Value Cash $ 88.8 $ — $ — $ 88.8 Cash equivalents Money market funds 243.9 — — 243.9 Total cash & cash equivalents $ 332.7 $ — $ — $ 332.7 Short-term investments Corporate notes and obligations 435.7 0.1 (18.8) 417.0 U.S. Treasury securities 284.3 0.6 (10.3) 274.6 Asset backed securities 106.1 0.1 (4.7) 101.5 Municipal securities 65.2 — (3.4) 61.8 Commercial paper 17.7 — — 17.7 Certificates of deposit 21.7 — — 21.7 U.S. agency obligations 18.4 — (0.6) 17.8 Foreign government obligations 6.0 — (0.3) 5.7 Supranational securities 2.8 — (0.2) 2.6 Total short-term investments 957.9 0.8 (38.3) 920.4 Total $ 1,290.6 $ 0.8 $ (38.3) $ 1,253.1 As of December 31, 2022 Amortized Cost Unrealized Gain Unrealized Loss Estimated Fair Value Cash $ 90.1 $ — $ — $ 90.1 Cash equivalents Money market funds 139.5 — — 139.5 Commercial paper 3.2 — — 3.2 Total cash & cash equivalents $ 232.8 $ — $ — $ 232.8 Short-term investments Corporate notes and obligations 512.1 0.1 (22.7) 489.5 U.S. Treasury securities 360.2 0.2 (14.0) 346.4 Asset backed securities 117.6 — (6.0) 111.6 Municipal securities 65.3 — (4.1) 61.2 Commercial paper 46.4 — — 46.4 Certificates of deposit 29.1 — — 29.1 U.S. agency obligations 18.4 — (0.8) 17.6 Foreign government obligations 6.0 — (0.4) 5.6 Supranational securities 3.4 — (0.2) 3.2 Total short-term investments 1,158.5 0.3 (48.2) 1,110.6 Total $ 1,391.3 $ 0.3 $ (48.2) $ 1,343.4 Included in cash and cash equivalents is cash in transit from payment processors for credit and debit card transactions of $9.7 million and $12.4 million as of March 31, 2023 and December 31, 2022, respectively. All short-term investments were designated as available-for-sale securities as of March 31, 2023 and December 31, 2022. The following table presents the contractual maturities of the Company’s short-term investments as of March 31, 2023: As of March 31, 2023 Amortized cost Estimated fair value Due within one year $ 309.9 $ 303.9 Due between one to three years 515.6 493.8 Due after three years 132.4 122.7 Total $ 957.9 $ 920.4 The Company had 615 short-term investments in unrealized loss positions as of March 31, 2023. There were no material gains or losses from short-term investments that were reclassified out of accumulated other comprehensive loss for the three months ended March 31, 2023 and 2022, respectively. As of March 31, 2023, the Company’s short-term investments portfolio consisted of nine security types, seven of which were in an unrealized loss position. The Company’s short-term investments had unrealized losses of approximately $38.3 million as of March 31, 2023. The following tables present the breakdown of the short-term investments that have been in a continuous unrealized loss position aggregated by investment category, as of March 31, 2023 and December 31, 2022: As of March 31, 2023 Less than 12 months More than 12 months Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Corporate notes and obligations $ 97.8 $ (1.4) $ 296.4 $ (17.4) $ 394.2 $ (18.8) U.S. Treasury securities 57.3 (1.0) 148.7 (9.3) 206.0 (10.3) Asset backed securities 9.0 (0.1) 89.6 (4.7) 98.6 (4.8) Municipal securities 9.4 (0.3) 52.4 (3.1) 61.8 (3.4) U.S. agency obligations 3.8 — 14.0 (0.6) 17.8 (0.6) Foreign government obligations — — 5.6 (0.2) 5.6 (0.2) Supranational securities — — 2.6 (0.2) 2.6 (0.2) Total $ 177.3 $ (2.8) $ 609.3 $ (35.5) $ 786.6 $ (38.3) As of December 31, 2022 Less than 12 months More than 12 months Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Corporate notes and obligations $ 176.5 $ (3.5) $ 292.3 $ (19.2) $ 468.8 $ (22.7) U.S. Treasury securities 110.9 (1.8) 176.9 (12.2) 287.8 (14.0) Asset backed securities 13.7 (0.4) 90.4 (5.6) 104.1 (6.0) Municipal securities 9.3 (0.3) 51.6 (3.8) 60.9 (4.1) U.S. agency obligations 3.9 — 13.8 (0.8) 17.7 (0.8) Foreign government obligations — — 5.5 (0.4) 5.5 (0.4) Supranational securities — — 3.2 (0.2) 3.2 (0.2) Total $ 314.3 $ (6.0) $ 633.7 $ (42.2) $ 948.0 948.0 $ (48.2) Unrealized losses on short-term investments have not been recorded into income because management does not intend to sell nor will be required to sell these securities prior to their anticipated recovery, and for which the decline in fair value is largely due to changes in interest rates. The credit ratings associated with the corporate notes and obligations are mostly unchanged, are highly rated and the issuers continue to make timely principal and interest payments. The Company recorded interest income from its cash, cash equivalents, and short-term investments of $7.2 million and $1.8 million during the three months ended March 31, 2023 and 2022, respectively.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value MeasurementsThe Company measures its financial instruments at fair value each reporting period using a fair value hierarchy that prioritizes the use of observable inputs and minimizes the use of unobservable inputs when measuring fair value. A financial instrument’s classification within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The following table presents information about the Company’s financial instruments that are measured at fair value on a recurring basis using the input categories discussed in Note 1: As of March 31, 2023 Level 1 Level 2 Level 3 Total Cash equivalents Money market funds $ 243.9 $ — $ — $ 243.9 Total cash equivalents $ 243.9 $ — $ — $ 243.9 Short-term investments Corporate notes and obligations — 417.0 — 417.0 U.S. Treasury securities — 274.6 — 274.6 Asset backed securities — 101.5 — 101.5 Municipal securities — 61.8 — 61.8 Commercial paper — 17.7 — 17.7 Certificates of deposit — 21.7 — 21.7 U.S. agency obligations — 17.8 — 17.8 Foreign government obligations — 5.7 — 5.7 Supranational securities — 2.6 — 2.6 Total short-term investments — 920.4 — 920.4 Total $ 243.9 $ 920.4 $ — $ 1,164.3 As of December 31, 2022 Level 1 Level 2 Level 3 Total Cash equivalents Money market funds $ 139.5 $ — $ — $ 139.5 Commercial paper — 3.2 — 3.2 Total cash equivalents $ 139.5 $ 3.2 $ — $ 142.7 Short-term investments Corporate notes and obligations — 489.5 — 489.5 U.S. Treasury securities — 346.4 — 346.4 Asset backed securities — 111.6 — 111.6 Municipal securities — 61.2 — 61.2 Commercial paper — 46.4 — 46.4 Certificates of deposit — 29.1 — 29.1 Foreign government obligations — 5.6 — 5.6 U.S. agency obligations — 17.6 — 17.6 Supranational securities — 3.2 — 3.2 Total short-term investments — 1,110.6 — 1,110.6 Total $ 139.5 $ 1,113.8 $ — $ 1,253.3 The Company had no transfers between levels of the fair value hierarchy. The carrying amounts of certain financial instruments, including cash held in banks, accounts receivable and accounts payable approximate fair value due to their short-term maturities and are excluded from the fair value table above. The Company had $695.8 million in aggregate principal amount of 0% convertible senior notes due in 2026 (the "2026 Notes"), and $693.3 million in aggregate principal amount of 0% convertible senior notes due in 2028 (the "2028 Notes" and together with the 2026 Notes, the "Notes"), outstanding as of March 31, 2023. Refer to Note 8 "Debt" for further details on the 2026 Notes and 2028 Notes. The estimated fair value of the 2026 Notes and the 2028 Notes, based on a market approach as of March 31, 2023 was approximately $619.4 million and $600.3 million, respectively. The Notes were categorized as Level 2 instruments as the estimated fair value was determined based on the estimated or actual bids and offers of the Notes in an over-the-counter market on the last business day of the period.

Property and Equipment, Net

Property and Equipment, Net	3 Months Ended
	Mar. 31, 2023
Property, Plant and Equipment [Abstract]
Property and Equipment, Net	Property and Equipment, Net Property and equipment, net consisted of the following: As of March 31, 2023 December 31, 2022 Datacenter and other computer equipment $ 699.8 $ 671.3 Furniture and fixtures 12.3 19.8 Leasehold improvements 98.5 118.0 Construction in progress 3.1 2.8 Total property and equipment 813.7 811.9 Accumulated depreciation and amortization (506.5) (503.5) Property and equipment, net $ 307.2 $ 308.4 The Company leases certain infrastructure, computer equipment, and furniture from various third parties, through equipment finance leases. Infrastructure assets as of March 31, 2023 and December 31, 2022 included a total of $487.4 million and $456.4 million, respectively, acquired under finance lease agreements. These leases are capitalized in property and equipment, and the related amortization of assets under finance leases is included in depreciation and amortization expense. The accumulated depreciation of the equipment under finance leases totaled $269.1 million and $240.9 million as of March 31, 2023 and December 31, 2022, respectively. Depreciation expense related to property and equipment was $35.0 million and

Business Combinations

Business Combinations	3 Months Ended
	Mar. 31, 2023
Business Combination and Asset Acquisition [Abstract]
Business Combinations	Business Combinations 2022 Business Combination On December 15, 2022, the Company acquired 100% ownership of FormSwift, a cloud-based service that gives individuals and businesses a simple solution to create, complete, edit, and save critical business forms and agreements. The Company believes the combination of Dropbox, Dropbox Sign, DocSend, and FormSwift will help customers across industries manage end-to-end document workflows—from content collaboration to sharing and e-signature—giving them more control over their most important agreements. The results of FormSwift's operations have been included in the Company’s consolidated results of operations since the date of acquisition. The purchase consideration transferred consisted of the following: Purchase consideration Cash paid to stockholders $ 50.0 Cash paid for extinguishing shadow stock units 3.2 Transaction costs paid by Dropbox on behalf of FormSwift 2.0 Cash purchase consideration $ 55.2 Indemnification holdback (1) 14.3 Total purchase consideration $ 69.5 (1) Approximately $14.3 million of the total purchase consideration was withheld as an indemnification holdback to be used for the purpose of satisfying any indemnification claims made by the Company for a period of 18 months following the transaction close date. Any remaining indemnity will be released to the seller's representative following the 18 month period. In addition to the total purchase consideration above, the Company has compensation agreements with key FormSwift personnel consisting of $25.7 million in cash payments subject to ongoing employee service. The related expenses are recognized within research and development expenses over the required service period of three years. The cash payment was transferred to a paying agent escrow account immediately upon the acquisition close date. The related payments will be paid out by the escrow agent as they vest. The purchase consideration was allocated to the tangible and intangible assets and liabilities acquired as of the acquisition date, with the excess recorded to goodwill as shown below. The fair value of assets and liabilities acquired may change as additional information is received during the measurement period. The measurement period will end no later than one-year from the acquisition date. Assets acquired: Cash and cash equivalents $ 0.4 Acquisition-related intangible assets 41.2 Accounts receivable, prepaid and other assets 3.4 Total assets acquired $ 45.0 Liabilities assumed: Accounts payable, accrued and other liabilities $ 4.6 Deferred revenue 6.6 Total liabilities assumed 11.2 Net assets acquired, excluding goodwill 33.8 Total purchase consideration 69.5 Goodwill (2) $ 35.7 (2) The goodwill recognized was primarily attributable to the opportunity to expand the user base of the Company's platform. A portion of the goodwill is deductible for U.S. federal income tax purposes. The fair value of the separately identifiable finite-lived intangible assets acquired and estimated weighted average useful lives as of the acquisition date are as follows: Estimated fair values Estimated weighted average useful lives Developed technology $ 24.2 5.0 Customer relationships 16.4 2.0 Trade name 0.6 1.0 Total acquisition-related intangible assets $ 41.2 The fair values of the acquisition-related intangible assets were determined using the following methodologies: the multi-period excess earnings method for developed technology, the with and without method for customer relationships, and the relief from royalty method for the trade name, respectively. The valuation model inputs required the application of significant judgment by management. The acquired intangible assets have a total weighted average amortization period of 3.7 years as of the acquisition date.

Intangible Assets

Intangible Assets	3 Months Ended
	Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	Intangible Assets Intangible assets consisted of the following: As of March 31, As of December 31, Weighted- (In years) As of March 31, 2023 2022 2023 Developed technology $ 74.3 $ 74.3 4.0 Customer relationships 43.2 43.2 2.0 Patents 19.4 19.4 4.1 Software 8.9 8.9 0.4 Trademarks and trade names 5.8 5.8 1.5 Licenses 4.6 4.6 0.0 Assembled workforce in asset acquisitions 3.4 3.4 3.1 Other 1.1 1.1 2.5 Total intangibles 160.7 160.7 Accumulated amortization (79.9) (72.4) Intangible assets, net $ 80.8 $ 88.3 Amortization expense was $7.5 million and $4.0 million for the three months ended March 31, 2023 and 2022, respectively. Expected future amortization expense for intangible assets as of March 31, 2023 is as follows: Intangible assets Remainder of 2023 $ 22.9 2024 25.1 2025 14.8 2026 10.4 2027 7.0 Thereafter 0.6 Total $ 80.8

Goodwill

Goodwill	3 Months Ended
	Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	Goodwill Goodwill represents the excess of the purchase price in a business combination over the fair value of net tangible and intangible assets acquired. The changes in the carrying amounts of goodwill were as follows: Balance at December 31, 2022 $ 403.3 Effect of foreign currency translation (0.8) Balance at March 31, 2023 $ 402.5

Debt

Debt	3 Months Ended
	Mar. 31, 2023
Debt Disclosure [Abstract]
Debt	Debt Revolving credit facility In February 2018, the Company entered into an amendment to the revolving credit facility to, among other things, permit the Company to make certain investments, enter into an unsecured standby letter of credit facility and increase its standby letter of credit sublimit to $187.5 million. The Company increased its borrowing capacity under the revolving credit facility from $600.0 million to $725.0 million. In February 2021, the Company amended the revolving credit facility to decrease its borrowing capacity under the revolving credit facility from $725.0 million to $500.0 million and extended the term of the agreement through February 2026. The Company may from time to time request increases in its borrowing capacity under the revolving credit facility of up to $250.0 million, provided no event of default has occurred or is continuing or would result from such increase. In conjunction with the February 2021 amendment, the Company paid upfront issuance fees of $1.7 million, which are being amortized over the remaining term of the agreement, and wrote-off $0.2 million in unamortized deferred debt issuance costs. In March 2023, the Company amended the revolving credit facility to update its borrowing benchmark from LIBOR to SOFR, with a fixed credit spread adjustment of 0.10%. In conjunction with the March 2023 amendment, the Company incurred upfront issuance fees of $0.1 million, which are being amortized over the remaining term of the agreement. Pursuant to the terms of the revolving credit facility, the Company may issue letters of credit under the revolving credit facility, which reduce the total amount available for borrowing. Pursuant to the terms of the revolving credit facility, the Company is required to pay an annual commitment fee that accrues at a rate of 0.20% per annum on the unused portion of the borrowing commitments under the revolving credit facility. In addition, the Company is required to pay a fee in connection with letters of credit issued under the revolving credit facility, which accrues at a rate of 1.375% per annum on the amount of such letters of credit outstanding. There is an additional fronting fee of 0.125% per annum multiplied by the average aggregate daily maximum amount available under all letters of credit. Borrowings under the revolving credit facility bear interest, at the Company’s option, at an annual rate based on credit spread adjusted SOFR plus a spread of 1.375% or at an alternative base rate plus a spread of 0.375%. The revolving credit facility contains customary conditions to borrowing, events of default and covenants, including covenants that restrict the Company’s ability to incur indebtedness, grant liens, make distributions to holders of the Company or its subsidiaries’ equity interests, make investments, or engage in transactions with its affiliates. In addition, the revolving credit facility contains financial covenants, including a consolidated leverage ratio incurrence covenant and a minimum liquidity balance of $100.0 million, which includes any available borrowing capacity. The Company was in compliance with the covenants of the revolving credit facility as of March 31, 2023 and December 31, 2022, respectively. The Company had an aggregate of $38.8 million of letters of credit outstanding under the revolving credit facility as of March 31, 2023, and the Company’s total available borrowing capacity under the revolving credit facility was $461.2 million as of March 31, 2023. The Company’s letters of credit have final expiration dates through 2036. Convertible senior notes During the first quarter of 2021, the Company issued $695.8 million aggregate principal amount of the 2026 Notes. Additionally, during the first quarter of 2021, the Company issued $693.3 million aggregate principal amount of the 2028 Notes. The Notes were issued in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933. The net proceeds from the sale of the Notes were approximately $1.4 billion after deducting offering and issuance costs related to the Notes. The Notes of each series do not bear regular interest. The Notes of each series may bear special interest as the remedy relating to the Company’s failure to comply with certain of its reporting obligations. The Company has complied with these reporting obligations from the issuance date through March 31, 2023. The 2026 Notes will mature on March 1, 2026, and the 2028 Notes will mature on March 1, 2028, in each case, unless earlier converted, redeemed or repurchased. The initial conversion rate for the 2026 Notes is 26.1458 shares of the Company’s Class A common stock per $1,000 principal amount of such Note, which is equivalent to an initial conversion price of approximately $38.25 per share. The initial conversion rate for the 2028 Notes is 28.2889 shares of Class A common stock per $1,000 principal amount of such Notes, which is equivalent to an initial conversion price of approximately $35.35 per share. The conversion rate for each series of Notes will be subject to adjustment upon the occurrence of certain specified events but will not be adjusted for accrued and unpaid special interest. In addition, upon the occurrence of a make-whole fundamental change (as defined in the relevant indentures governing the Notes) or a notice of redemption, the Company will, in certain circumstances, increase the conversion rate of the relevant series of Notes by a number of additional shares for a holder that elects to convert all or a portion of its Notes of such series in connection with such make-whole fundamental change or who elects to convert such Notes that are subject to such notice of redemption. The conversion rate for the 2026 Notes and the 2028 Notes shall not exceed 43.1406 shares per $1,000 principal amount of such Notes, subject to certain customary anti-dilution adjustments (as defined in the relevant indentures governing the Notes). There have been no changes to the initial conversion price of the Notes since issuance as of March 31, 2023. Upon conversion, the principal portion of the Notes of the applicable series being converted will be settled in cash, and any amount in excess of the principal portion of such Notes will be settled in cash or shares of the Company’s Class A common stock or any combination thereof at the Company’s option. The if-converted value of the 2026 Notes and the 2028 Notes was below the principal value of the respective Notes as of March 31, 2023. In addition, during the three months ended March 31, 2023 and 2022 the conditions allowing holders of the Notes to convert were not met. As a result, the Notes are not convertible during the three months ended March 31, 2023 and 2022. Prior to the close of business on the business day immediately preceding December 1, 2025, in the case of the 2026 Notes, and prior to the close of business on the business day immediately preceding December 1, 2027, in the case of the 2028 Notes, the Notes of the applicable series will be convertible only under the following circumstances: (1) during any calendar quarter commencing after June 30, 2021 (and only during such calendar quarter), if the last reported sale price of the Class A common stock for at least 20 trading days (whether or not consecutive) during the 30 consecutive trading day period ending on the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the conversion price for the relevant series of Notes on each applicable trading day; (2) during the five business day period after any five consecutive trading day period in which, for each trading day of that period, the trading price per $1,000 principal amount of 2026 Notes or 2028 Notes, as applicable, for such trading day was less than 98% of the product of the last reported sale price of the Class A common stock and the conversion rate for such series of Notes on each such trading day; (3) if the Company calls any or all of the Notes for redemption, such Notes of the applicable series called for redemption may be converted at any time prior to the close of business on the second scheduled trading day immediately preceding the redemption date; or (4) upon the occurrence of specified corporate transactions. On or after December 1, 2025, in the case of the 2026 Notes, and on or after December 1, 2027, in the case of the 2028 Notes, until the close of business on the second scheduled trading day immediately preceding the relevant maturity date, holders of the relevant series of Notes may convert all or a portion of their Notes of such series regardless of the foregoing conditions. The Company may redeem for cash all or any part of the Notes, at its option, on or after March 6, 2024, in the case of the 2026 Notes, and on or after March 6, 2025, in the case of the 2028 Notes, if the last reported sale price of its Class A common stock has been at least 130% of the conversion price for the relevant series of Notes then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period (including the last trading day of such period) ending on, and including, the trading day immediately preceding the date on which the Company provides notice of redemption at a redemption price equal to 100% of the principal amount of the series of Notes to be redeemed, plus any accrued and unpaid special interest to, but excluding, the redemption date. No sinking fund is provided for the Notes. Upon the occurrence of a fundamental change (as defined in the relevant indentures governing the Notes) prior to the relevant maturity date, holders of the relevant series of Notes may require the Company to repurchase all or a portion of the Notes of such series for cash at a price equal to 100% of the principal amount of the series of Notes to be repurchased, plus any accrued and unpaid special interest to, but excluding, the fundamental change repurchase date. Additionally, and upon events of default (as defined in the relevant indentures governing the Notes), the maturity of the Notes may be accelerated. The Notes are the Company’s general unsecured obligations and will rank senior in right of payment to any existing and future indebtedness that is contractually subordinated to the Notes; rank equal in right of payment with the Company’s existing and future senior unsecured indebtedness that is not so subordinated; effectively rank junior in right of payment to any of the Company’s existing and future secured indebtedness to the extent of the value of the assets securing such indebtedness; and be structurally subordinated to all indebtedness and other liabilities (including trade payables) of subsidiaries of the Company. In accounting for the Notes, issuance costs of $11.0 million and $11.0 million for the 2026 Notes and the 2028 Notes were deducted from the carrying value of the Notes in the consolidated balance sheet. Issuance costs will be recognized as interest expense over the five-year term and seven-year term for the 2026 Notes and the 2028 Notes, respectively. The following is a summary of the Company’s convertible senior notes as of March 31, 2023 and December 31, 2022. 2026 Notes 2028 Notes Total March 31, 2023 Principal balance $ 695.8 $ 693.3 $ 1,389.1 Unamortized issuance costs (6.4) (7.7) (14.1) Carrying value, net $ 689.4 $ 685.6 $ 1,375.0 December 31, 2022 Principal balance $ 695.8 $ 693.3 $ 1,389.1 Unamortized issuance costs (7.0) (8.1) (15.1) Carrying value, net $ 688.8 $ 685.2 $ 1,374.0 During the three months ended March 31, 2023 and 2022, the Company recognized $0.6 million and $0.5 million in interest expense for the 2026 Notes and $0.4 million and $0.4 million in interest expense for the 2028 Notes, respectively, with such interest expense solely consisting of amortization of issuance costs. The effective interest rate for the 2026 Notes and the 2028 Notes was 0.32% and 0.22%, respectively, as of March 31, 2023. Maturities on the Company's long-term convertible debt are as follows: Convertible Debt Remainder of 2023 $ — 2024 — 2025 — 2026 695.8 2027 — 2028 693.3 Thereafter — Total $ 1,389.1 Convertible Note Hedges and Warrants Concurrent with the offering of the Notes, the Company entered into convertible note hedge transactions with certain counterparties whereby the Company had the option to purchase a total of approximately 18.2 million shares for note hedges expiring in March 2026 (the “2026 Note Hedges”) and 19.6 million shares for note hedges expiring in March 2028 (the “2028 Note Hedges”, together with the 2026 Note Hedges, the “Note Hedges”), respectively, of its common stock at a price of approximately $38.25 and $35.35 per share, respectively. The aggregate cost of the convertible note hedge transactions was $265.3 million. The Note Hedges, or a portion thereof, are exercisable upon conversion of the Notes and the satisfaction of certain conditions set forth in the Note Hedges. Additionally, the Note Hedges may be terminated and early settled upon the occurrence of certain events, including certain merger events, events of default, and upon a fundamental change (as defined in the relevant indentures for the Notes). The Note Hedges are settleable in cash, shares or a combination of cash and shares, at the option of the Company, and the settlement alternative will be the same as the settlement alternative of the conversion spread for the respective Notes. The convertible note hedge transactions are expected generally to reduce the potential dilution to the Class A common stock upon conversion of the relevant series of Notes and/or offset any cash payments the Company is required to make in excess of the principal amount of such converted Notes, as the case may be, in the event that the market price per share of the Class A common stock, as measured under the terms of the convertible note hedge transactions, is greater than the applicable strike price of those convertible note hedge transactions. As of March 31, 2023, the Company’s stock price was below the exercise price of the respective Note Hedges. In addition, the Company sold warrants to certain counterparties whereby the holders of the warrants had the option to purchase a total of approximately 18.1 million shares underlying warrants expiring in 2026 (the “2026 Warrants”) and 20.1 million shares underlying warrants expiring in 2028 (the “2028 Warrants”, together with the 2026 Warrants, the “Warrants”), respectively, of the Company’s Class A common stock at an initial strike price of $46.36 and $46.36 per share, respectively. The Company received aggregate cash proceeds of $202.9 million from the sale of these Warrants. If the market price per share of the Company’s Class A common stock, as measured under the terms of the Warrants, exceeds the strike price of the Warrants, the Warrants could have a dilutive effect, unless the Company elects, subject to certain conditions, to settle the Warrants in cash. The Warrants are only exercisable on the applicable expiration dates in accordance with the terms of the Warrants. Subject to the other terms of the Warrants, the first expiration date applicable to the 2026 Warrants and to the 2028 Warrants is June 1, 2026, and June 1, 2028, respectively, and the final expiration date applicable to the 2026 Warrants and 2028 Warrants is August 10, 2026 and August 10, 2028, respectively. As of March 31, 2023, the Company’s Class A common stock price was below the exercise price of the Warrants. Taken together, the purchase of the Note Hedges and the sale of the Warrants are intended to reduce potential dilution from the conversion of the 2026 Notes and the 2028 Notes, and to effectively increase the overall conversion price from $38.25 per share to $46.36 per share and from $35.35 per share to $46.36 for the 2026 Notes and the 2028 Notes, respectively. The Note Hedges and the Warrants are equity-classified instruments as a result of being indexed to the Company’s Class A common stock and meeting certain equity classification criteria, and the instruments will not be remeasured in subsequent periods as long as the instruments continue to meet these accounting criteria. The premium paid for the Note Hedges has been included as a net reduction to additional paid-in capital within stockholders’ deficit, and the premium received for the Warrants has been included as a net increase to additional paid-in capital within stockholders' deficit.

Leases

Leases	3 Months Ended
	Mar. 31, 2023
Leases [Abstract]
Leases	Leases The Company has operating leases for corporate offices and datacenters, and finance leases for infrastructure and office equipment. The Company’s leases have remaining lease terms of under 1 year to 13 years, some of which include options to extend the leases for up to 5 years. The Company also has subleases for several floors of its former corporate offices. The Company classifies its subleases as operating leases. The subleases have remaining lease terms of 1 year to 10 years, some of which include options to extend the sublease for up to approximately 4 years. Sublease income, which is recorded as a reduction of rental expense, was $4.5 million during each of the three months ended March 31, 2023 and 2022, respectively. Future minimum lease payments under non-cancellable leases as of March 31, 2023 were as follows: Operating leases (1) Finance leases Remainder of 2023 $ 68.7 $ 95.2 2024 90.0 97.0 2025 84.6 59.1 2026 65.0 31.0 2027 65.2 2.5 2028 65.2 — Thereafter 347.3 — Total future minimum lease payments $ 786.0 $ 284.8 Less imputed interest (150.4) (15.8) Less tenant improvement receivables (1.2) — Total liability $ 634.4 $ 269.0 (1) Consists of future non-cancelable minimum rental payments under operating leases for the Company’s corporate offices and datacenters where the Company has possession, excluding rent payments for short-term lease obligations, payments from the Company’s subtenants and variable operating expenses. Future non-cancelable rent payments from the Company's subtenants as of March 31, 2023 were as follows: Operating leases Remainder of 2023 $ 12.8 2024 17.3 2025 15.7 2026 12.0 2027 8.2 2028 7.7 Thereafter 18.7 Total future sublease rent payments 92.4 Less sub-tenant incentive (1.1) Total future sublease rent payments, net 91.3 In 2017, the Company signed a 15 year lease agreement for office space in San Francisco, California, to serve as its corporate headquarters which commenced in 2018. The Company's obligations under the lease are supported by a $26.1 million letter of credit, which reduced the borrowing capacity under the revolving credit facility. As of March 31, 2023, the Company's remaining minimum obligation for its headquarters was $542.3 million. In the fourth quarter of 2020, the Company announced a Virtual First work model pursuant to which remote work has become the primary experience for all of its employees. As part of the Virtual First strategy, Dropbox retained a portion of its office space to be used for the Company’s team collaboration use and a portion will be marketed for sublease. Accordingly, the Company periodically evaluates the recoverability of its real estate assets and makes adjustments to market participant assumptions as conditions evolve. In the fourth quarter of 2022, the Company determined that there were adverse changes in the corporate real estate markets where it plans to sublease office space. These changes have reduced demand for corporate office real estate, which the Company expects will result in increased real estate vacancy periods and reduced sublease rent rates. Accordingly, the Company assessed the recoverability of its real estate assets in the markets that have been impacted.
Leases	Leases The Company has operating leases for corporate offices and datacenters, and finance leases for infrastructure and office equipment. The Company’s leases have remaining lease terms of under 1 year to 13 years, some of which include options to extend the leases for up to 5 years. The Company also has subleases for several floors of its former corporate offices. The Company classifies its subleases as operating leases. The subleases have remaining lease terms of 1 year to 10 years, some of which include options to extend the sublease for up to approximately 4 years. Sublease income, which is recorded as a reduction of rental expense, was $4.5 million during each of the three months ended March 31, 2023 and 2022, respectively. Future minimum lease payments under non-cancellable leases as of March 31, 2023 were as follows: Operating leases (1) Finance leases Remainder of 2023 $ 68.7 $ 95.2 2024 90.0 97.0 2025 84.6 59.1 2026 65.0 31.0 2027 65.2 2.5 2028 65.2 — Thereafter 347.3 — Total future minimum lease payments $ 786.0 $ 284.8 Less imputed interest (150.4) (15.8) Less tenant improvement receivables (1.2) — Total liability $ 634.4 $ 269.0 (1) Consists of future non-cancelable minimum rental payments under operating leases for the Company’s corporate offices and datacenters where the Company has possession, excluding rent payments for short-term lease obligations, payments from the Company’s subtenants and variable operating expenses. Future non-cancelable rent payments from the Company's subtenants as of March 31, 2023 were as follows: Operating leases Remainder of 2023 $ 12.8 2024 17.3 2025 15.7 2026 12.0 2027 8.2 2028 7.7 Thereafter 18.7 Total future sublease rent payments 92.4 Less sub-tenant incentive (1.1) Total future sublease rent payments, net 91.3 In 2017, the Company signed a 15 year lease agreement for office space in San Francisco, California, to serve as its corporate headquarters which commenced in 2018. The Company's obligations under the lease are supported by a $26.1 million letter of credit, which reduced the borrowing capacity under the revolving credit facility. As of March 31, 2023, the Company's remaining minimum obligation for its headquarters was $542.3 million. In the fourth quarter of 2020, the Company announced a Virtual First work model pursuant to which remote work has become the primary experience for all of its employees. As part of the Virtual First strategy, Dropbox retained a portion of its office space to be used for the Company’s team collaboration use and a portion will be marketed for sublease. Accordingly, the Company periodically evaluates the recoverability of its real estate assets and makes adjustments to market participant assumptions as conditions evolve. In the fourth quarter of 2022, the Company determined that there were adverse changes in the corporate real estate markets where it plans to sublease office space. These changes have reduced demand for corporate office real estate, which the Company expects will result in increased real estate vacancy periods and reduced sublease rent rates. Accordingly, the Company assessed the recoverability of its real estate assets in the markets that have been impacted.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Legal matters From time to time, the Company is a party to a variety of claims, lawsuits, investigations, inquires, and proceedings which arise in the ordinary course of business, including claims of alleged infringement of intellectual property rights, regulatory matters, and commercial disputes. The Company records a liability when it believes that it is probable that a loss will be incurred and the amount of loss or range of loss can be reasonably estimated. In its opinion, resolution of pending matters is not likely to have a material adverse impact on its consolidated results of operations, cash flows, or its financial position. Given the unpredictable nature of legal proceedings, the Company bases its estimate on the information available at the time of the assessment. As additional information becomes available, the Company reassesses the potential liability and may revise the estimate. Indemnification The Company’s arrangements generally include certain provisions for indemnifying customers against liabilities if its products or services infringe a third party’s intellectual property rights. It is not possible to determine the maximum potential amount under these indemnification obligations due to the limited history of prior indemnification claims. Other commitments

Accrued and Other Current Liabi

Accrued and Other Current Liabilities	3 Months Ended
	Mar. 31, 2023
Payables and Accruals [Abstract]
Accrued and Other Current Liabilities	Accrued and Other Current Liabilities Accrued and other current liabilities consisted of the following: As of March 31, 2023 December 31, 2022 Non-income taxes payable $ 77.0 $ 76.4 Accrued legal and other external fees 34.5 25.5 Other accrued and current liabilities 55.6 38.0 Total accrued and other current liabilities $ 167.1 $ 139.9

Stockholders_ Deficit

Stockholders’ Deficit	3 Months Ended
	Mar. 31, 2023
Stockholders' Equity Note [Abstract]
Stockholders’ Deficit	Stockholders’ Deficit Common stock The Company’s amended and restated certificate of incorporation authorizes the issuance of Class A common stock, Class B common stock, and Class C common stock. Holders of Class A common stock, Class B common stock, and Class C common stock are entitled to dividends on a pro rata basis, when, as, and if declared by the Company’s Board of Directors, subject to the rights of the holders of the Company’s preferred stock. Holders of Class A common stock are entitled to one vote per share, holders of Class B common stock are entitled to 10 votes per share, and holders of Class C common stock are entitled to zero votes per share. As of March 31, 2023, the Company had authorized 2,400.0 million shares of Class A common stock, 475.0 million shares of Class B common stock, and 800.0 million shares of Class C common stock, each at par value of $0.00001. Holders of Class B common stock voluntarily converted 0.5 million and 0.2 million shares into an equivalent number of shares of Class A common stock during the three months ended March 31, 2023 and 2022, respectively. As of March 31, 2023, 262.0 million shares of Class A common stock, 81.7 million shares of Class B common stock, and no shares of Class C common stock were issued and outstanding. As of December 31, 2022, 267.2 million shares of Class A common stock, 82.2 million shares of Class B common stock, and no shares of Class C common stock were issued and outstanding. Class A shares issued and outstanding as of March 31, 2023 and December 31, 2022 exclude unvested restricted stock awards granted to certain executives. Class A shares issued and outstanding also excludes 8.3 million unvested restricted stock awards granted to one of the Company's co-founders as of March 31, 2023 and December 31, 2022, resp ectively. See "Co-Founder Grant" section below for further details. Preferred stock The Company's Board of Directors will have the authority, without further action by the Company's stockholders, to issue up to 240.0 million shares of undesignated preferred stock with rights and preferences, including voting rights, designated from time to time by the Board of Directors. Stock repurchase program In February 2022, the Board of Directors authorized the Company to repurchase up to $1.2 billion of the Company's outstanding shares of Class A common stock. Share repurchases will be made from time to time in private transactions or open market purchases, as permitted by securities laws and other legal requirements and will be subject to a review of the circumstances in place at that time, including prevailing market prices. The program does not obligate the Company to repurchase any specific number of shares and may be discontinued at any time. During the three months ended March 31, 2023 and 2022, the Company repurchased and subsequently retired 8.1 million and 11.0 million shares of its Class A common stock, respectively, for an aggregate amount of $176.5 million and $259.9 million, respectively . Included in the cost of treasury stock acquired pursuant to common share repurchases is the 1% excise tax imposed as part of the Inflation Reduction Act. Equity incentive plans Under the 2018 Plan, the Company may grant stock-based awards to purchase or directly issue shares of common stock to employees, directors, and consultants. Options are granted at a price per share equal to the fair market value of the Company's common stock at the date of grant. Options granted are exercisable over a maximum term of 10 years from the date of grant and generally vest over a period of four years. RSUs and RSAs are also granted under the 2018 Plan. The 2018 Plan will terminate 10 years after the later of (i) its adoption or (ii) the most recent stockholder-approved increase in the number of shares reserved under the 2018 Plan, unless terminated earlier by the Company's Board of Directors. The 2018 Plan was adopted on March 22, 2018. In connection with the acquisition of DocSend, the Company assumed unvested stock options and an immaterial number of unvested RSUs that had been granted under DocSend's 2013 Stock Plan and DocSend's 2015 Stock Option and Grant Plan. As of March 31, 2023, there were 32.4 million stock-based awards issued and outstanding and 115.8 million shares available for issuance under the Dropbox Equity Incentive Plans, Dropbox Sign's 2011 Equity Incentive Plan, DocSend's 2013 Stock Plan and DocSend's 2015 Stock Option and Grant Plan (collectively, the "Plans"). Stock option and restricted stock activity for the Plans was as follows for the three months ended March 31, 2023: Options outstanding Restricted stock Number of Number of Weighted- Weighted- Aggregate intrinsic value Number of Weighted- Balance at December 31, 2022 97.9 0.4 $ 11.30 4.5 $ 4.5 34.8 $ 23.40 Additional shares authorized 17.5 — — — — — — Options exercised and restricted stock units and awards released — (0.1) 3.12 — — (3.7) 23.33 Options and restricted stock units and awards canceled 1.7 — 15.31 — — (1.7) 27.14 Shares withheld related to net share settlement of restricted stock units and awards 1.4 — — — — — — Options and restricted stock units and awards granted (2.7) — — — — 2.7 22.43 Balance as of March 31, 2023 115.8 0.3 $ 12.53 4.3 $ 3.3 32.1 $ 23.15 Vested at March 31, 2023 0.3 $ 12.53 4.3 $ 3.3 — $ — Unvested at March 31, 2023 — $ — — $ — 32.1 $ 23.15 The following table summarizes information about the pre-tax intrinsic value of options exercised during the three months ended March 31, 2023 and 2022: Three Months Ended 2023 2022 Intrinsic value of options exercised $ 0.9 $ 1.4 As of March 31, 2023, unamortized stock-based compensation related to unvested stock options, restricted stock awards (excluding the Co-Founder Grant), and RSUs was $724.6 millio n. The weighted-average period over which such compensation expense will be recognized if the requisite service is provided is approximately 2.7 years as of March 31, 2023. Co-Founder Grant In December 2017, the Board of Directors approved the Company's Co-Founder Grant, consisting of 10.3 million shares of Class A common stock in the form of RSAs which were granted to Drew Houston, the Company’s co-founder and Chief Executive Officer. This Co-Founder Grant has service-based, market-based, and performance-based vesting conditions. The Co-Founder Grant is excluded from Class A common stock issued and outstanding until the satisfaction of these vesting conditions. The Co-Founder Grant also provides the holder with certain stockholder rights, such as the right to vote the shares with the other holders of Class A common stock and a right to cumulative declared dividends. The Co-Founder Grant is eligible to vest over the ten-year period following the date the Company’s shares of Class A common stock commenced trading on the Nasdaq Global Select Market in connection with the Company’s IPO. The Co-Founder Grant is comprised of nine tranches that are eligible to vest based on the achievement of stock price goals, each of which are referred to as a Stock Price Target, measured over a consecutive thirty-day trading period during the Performance Period. The Performance Period began on January 1, 2019. During the first four years of the Performance Period, no more than 20% of the shares subject to the Co-Founder Grant would be eligible to vest in any calendar year. After the first four years, all shares are eligible to vest based on the achievement of the Stock Price Targets. The first tranche of the Co-Founder Grant, or 2.1 million shares of Class A common stock, vested in the fourth quarter of 2021. The stock-based compensation expense for Mr. Houston's Co-Founder Grant is recognized utilizing the accelerated attribution method over the requisite service period identified as the derived service period over which the market conditions are expected to be achieved, and is not reversed if the market conditions are not satisfied. Therefore no incremental stock-based compensation was recognized upon vesting of these RSAs. The Company recognized stock-based compensation expense related to the Co-Founder Grant of $ 2.2 million and $3.6 million during the three months ended March 31, 2023 and 2022, respectively. As of March 31, 2023, unamortized stock-based compensation expense related to the Co-Founder Grant was $ 7.2 million.

Net Income Per Share

Net Income Per Share	3 Months Ended
	Mar. 31, 2023
Earnings Per Share [Abstract]
Net Income Per Share	Net Income Per Share The Company computes net income per share using the two-class method required for multiple classes of common stock and participating securities. The rights, including the liquidation and dividend rights, of the Class A common stock and Class B common stock are substantially identical, other than voting rights. Accordingly, the Class A common stock and Class B common stock share equally in the Company’s net income and losses. Basic net income per share is computed by dividing net income attributable to common stockholders by the weighted-average number of shares of the Class A and Class B common stock outstanding. Diluted net income per share is computed by dividing net income attributable to common stockholders by the weighted-average number of diluted common shares outstanding. The computation of the diluted net income per share of Class A common stock assumes the conversion of the Company's Class B common stock to Class A common stock, while the diluted net income per share of Class B common stock does not assume the conversion of those shares to Class A common stock. The dilutive effect of potentially dilutive common shares is reflected in diluted earnings per share by application of the if-converted method for the 2026 Notes and the 2028 Notes, and by application of the treasury stock method for the Company's other potentially dilutive securities. The numerators and denominators of the basic and diluted EPS computations for the Company's common stock are calculated as follows (in millions, except for per share amounts): Three Months Ended Three Months Ended 2023 2022 Class A Class B Class A Class B Basic net income per share: Numerator Net income attributable to common stockholders $ 52.7 $ 16.3 $ 61.9 $ 17.8 Denominator Weighted-average number of common shares outstanding used in computing basic net income per share 265.2 81.9 288.0 82.7 Net income per common share, basic $ 0.20 $ 0.20 $ 0.22 $ 0.22 Diluted net income per share: Numerator Net income attributable to common stockholders $ 52.7 $ 16.3 $ 61.9 $ 17.8 Reallocation of net income as a result of conversion of Class B to Class A common stock 16.3 — 17.8 — Reallocation of net income to Class B common stock — (0.1) — (0.1) Net income attributable to common stockholders for diluted EPS $ 69.0 $ 16.2 $ 79.7 $ 17.7 Denominator Weighted-average number of common shares outstanding used in computing basic net income per share 265.2 81.9 288.0 82.7 Weighted-average effect of dilutive restricted stock units and awards and employee stock options 1.7 — 2.2 0.1 Conversion of Class B to Class A common stock 81.9 — 82.7 — Weighted-average number of common shares outstanding used in computing diluted net income per share 348.8 81.9 372.9 82.8 Net income per common share, diluted $ 0.20 $ 0.20 $ 0.21 $ 0.21 The weighted-average impact of potentially dilutive securities that were not included in the diluted per share calculations because they would be anti-dilutive was as follows: Three Months Ended 2023 2022 Restricted stock units and awards 21.4 13.3 Options to purchase shares of common stock 0.1 0.3 Co-Founder Grant 8.3 8.3 Convertible Senior Notes 37.8 37.8 Warrants 37.8 37.8 Total 105.4 97.5

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company computed the year-to-date income tax provision by applying the estimated annual effective tax rate to the year-to-date pre-tax income and adjusted for discrete tax items in the period. The Company's provision for income taxes was $18.6 million and $14.1 million for the three months ended March 31, 2023 and 2022, respectively. The provision for income taxes for the three months ended March 31, 2023 was primarily attributable to federal, state and foreign income taxes. For the three months ended March 31, 2023 , the difference between the U.S. statutory rate and the Company's effective tax rate was primarily due to jurisdictional mix of earnings and state income taxes. For the three months ended March 31, 2022 , the difference between the U.S. statutory rate and the Company's effective tax rate was primarily due to the requirement to capitalize research expenditures in accordance with Tax Cuts and Jobs Act of 2017 (TCJA), which was partially offset by the utilization of U.S. deferred tax assets which had a full valuation allowance. The Company periodically evaluates the realizability of its net deferred tax assets based on all available evidence, both positive and negative. The realization of net deferred tax assets is dependent on the Company's ability to generate sufficient future taxable income during periods prior to the expiration of tax attributes to fully utilize these assets. As of March 31, 2023, the Company continues to maintain valuation allowances against its California deferred tax assets. The Company is subject to income tax audits in the U.S. and foreign jurisdictions. The Company records liabilities related to uncertain tax positions and believes that it has provided adequate reserves for income tax uncertainties in all open tax years. Unrecognized tax benefits increased by approximately $4.2 million for the three months ended March 31, 2023, of which $3.0 million, if recognized, would affect the Company's effective tax rate and $1.2 million would result in adjustment to deferred tax assets with corresponding adjustments to the valuation allowance. Additionally, unrecognized tax benefits decreased by approximately $1.2 million for the three months ended March 31, 2023, due to a statute of limitations lapse related to prior period tax positions. This resulted in a net increase in unrecognized tax benefits of $3.0 million for the three months ended March 31, 2023. It is reasonably possible that there could be changes to the amount of uncertain tax positions due to activities of the taxing authorities, settlement of audit issues, reassessment of existing uncertain tax positions, or the expiration of applicable statutes of limitations; however, the Company is not able to estimate the impact of these items at this time.

Geographic Areas

Geographic Areas	3 Months Ended
	Mar. 31, 2023
Segment Reporting [Abstract]
Geographic Areas	Geographic Areas Long-lived assets The following table sets forth long-lived assets by geographic area: As of March 31, 2023 December 31, 2022 United States $ 299.1 $ 300.2 International (1) 8.1 8.2 Total property and equipment, net $ 307.2 $ 308.4 (1) No single country other than the United States had a property and equipment balance greater than 10% of total property and equipment, net, as of March 31, 2023 and December 31, 2022. Revenue Revenue by geography is generally based on the address of the customer as defined in the Company’s subscription agreement. The following table sets forth revenue by geographic area for the three months ended March 31, 2023 and 2022. Three Months Ended 2023 2022 United States $ 345.9 $ 299.2 International (1) 265.2 263.2 Total revenue $ 611.1 $ 562.4 (1) No single country outside of the United States accounted for more than 10% of total revenue during the three months ended March 31, 2023 and 2022, respectively.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2023
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On April 27, 2023, the Company announced that the Board of Directors approved a reduction of its global workforce by approximately 16% to streamline the Company’s team structure to support its long-term growth and profitability objectives. The Company intends to strategically reinvest some savings from this reduction in force into future growth initiatives, and will continue to hire for roles critical to those initiatives. The Company estimates that it will incur charges of approximately $37 million to $42 million, primarily consisting of cash expenditures for severance payments, employee benefits and related costs. The Company expects that the majority of these charges will be incurred in the second quarter of 2023 and substantially all of these charges will have been incurred by the end of 2023. The estimated charges are based on certain assumptions, including local law requirements in various jurisdictions, and actual amounts may differ materially from such estimates. The Company may incur other charges or cash expenditures not currently contemplated due to unanticipated events that may occur as a result of or in connection with the implementation of the reduction in force.

Description of the Business a_2

Description of the Business and Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of presentation	The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the United States of America generally accepted accounting principles (“GAAP”) and applicable rules and regulations of the SEC regarding interim financial reporting. The accompanying unaudited condensed consolidated financial statements include the accounts of Dropbox and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation.
Consolidation	The condensed consolidated balance sheet as of December 31, 2022 included herein was derived from the audited financial statements as of that date. The unaudited condensed consolidated financial statements reflect all normal recurring adjustments necessary to present fairly the balance sheets, statements of operations, statements of comprehensive income, statements of stockholders' deficit and the statements of cash flows for the interim periods, but are not necessarily indicative of the results of operations to be anticipated for the full fiscal year ended December 31, 2023 or any future period.
Use of estimates	The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported and disclosed in the Company’s condensed consolidated financial statements and accompanying notes. These estimates are based on information available as of the date of the condensed consolidated financial statements. Management evaluates these estimates and assumptions on a regular basis. Actual results may differ materially from these estimates.The Company’s most significant estimates and judgments involve the valuation of right-of-use and other lease related assets and income taxes.
Financial information about segments and geographic areas	The Company manages its operations and allocates resources as a single operating segment. Further, the Company manages, monitors, and reports its financials as a single reporting segment. The Company’s chief operating decision-maker is its Chief Executive Officer, who reviews financial information presented on a consolidated basis for purposes of making operating decisions, assessing financial performance, and allocating resources.
Foreign currency transactions	The assets and liabilities of the Company’s foreign subsidiaries are translated from their respective functional currencies into U.S. dollars at the exchange rates in effect at the balance sheet date. Revenue and expense amounts are translated at the average exchange rate for the period. Foreign currency translation gains and losses are recorded in other comprehensive income (loss), net of tax. Gains and losses realized from foreign currency transactions (those transactions denominated in currencies other than the foreign subsidiaries’ functional currency) are included in other income, net. Monetary assets and liabilities are remeasured using foreign currency exchange rates at the end of the period, and non-monetary assets are remeasured based on historical
Revenue recognition, Cost of revenue, and Deferred commissions, net	The Company derives its revenue from subscription fees from customers for access to its platform. The Company’s policy is to exclude sales and other indirect taxes when measuring the transaction price of its subscription agreements. The Company accounts for revenue contracts with customers through the following steps: • Identification of the contract, or contracts, with a customer • Identification of the performance obligations in the contract • Determination of the transaction price • Allocation of the transaction price to the performance obligations in the contract • Recognition of revenue when, or as, the Company satisfies a performance obligation The Company’s subscription agreements generally have monthly or annual contractual terms and a small percentage have multi-year contractual terms. Revenue is recognized ratably over the related contractual term beginning on the date that the platform is made available to a customer. Access to the platform represents a series of distinct services as the Company continually provides access to, and fulfills its obligation to the end customer over the subscription term. The series of distinct services represents a single performance obligation that is satisfied over time. The Company recognizes revenue ratably because the customer receives and consumes the benefits of the platform throughout the contract period. The Company’s contracts are generally non-cancelable. The Company bills in advance for monthly contracts and typically bills annually in advance for contracts with terms of one year or longer. The Company also recognizes an immaterial amount of contract assets, or unbilled receivables, primarily relating to consideration for services completed but not billed at the reporting date. Unbilled receivables are classified as receivables when the Company has the right to invoice the customer. The Company records contract liabilities when cash payments are received or due in advance of performance to deferred revenue. Deferred revenue primarily relates to the advance consideration received from the customer. The price of subscriptions is generally fixed at contract inception and therefore, the Company’s contracts do not contain a significant amount of variable consideration. As a result, the amount of revenue recognized in the periods presented from performance obligations satisfied (or partially satisfied) in previous periods was not material.
Stock-based compensation	The Company has primarily granted restricted stock units (“RSUs”) to its employees and members of the Board of Directors under the 2008 Equity Incentive Plan (“2008 Plan”), the 2017 Equity Incentive Plan (“2017 Plan”), and the 2018 Equity Incentive Plan (“2018 Plan” and together with the 2008 Plan and 2017 Plan, the "Dropbox Equity Incentive Plans”). Since August 2015, the Company has granted RSUs, which have a service based vesting condition over a four-year period vesting quarterly, as the only stock-based payment awards to its employees, with the exception of awards granted to its co-founder and certain executives, and has not granted any stock options to employees under the Dropbox Equity Incentive Plans. The Company recognizes compensation expense associated with RSUs on a straight-line basis over the requisite service period and accounts for forfeitures in the period in which they occur. The Board of Directors determines the fair value of each share of underlying common stock based on the closing price of the Company's Class A common stock as reported on the Nasdaq Global Select Market on the date of the grant.
Cash and cash equivalents	Cash consists primarily of cash on deposit with banks and includes amounts in transit from payment processors for credit and debit card transactions, which typically settle within five business days. Cash equivalents include highly liquid investments purchased with an original maturity date of 90 days or less from the date of purchase. The Company monitors its credit risk by considering factors such as historical experience, credit ratings, current economic conditions, and reasonable and supportable forecasts.
Short-term investments	The Company’s short-term investments are primarily comprised of corporate notes and obligations, U.S. Treasury securities, certificates of deposit, asset-backed securities, commercial paper, U.S. agency obligations, foreign government securities, supranational securities, and municipal securities. The Company determines the appropriate classification of its short-term investments at the time of purchase and reevaluates such designation at each balance sheet date. The Company has classified and accounted for its short-term investments as available-for-sale securities as the Company may sell these securities at any time for use in its current operations or for other purposes, even prior to maturity. As a result, the Company classifies its short-term investments, including securities with stated maturities beyond twelve months, within current assets in the condensed consolidated balance sheets. The Company's short-term investments are recorded at fair value each reporting period. Unrealized gains and losses on these short-term investments are reported as a separate component of accumulated other comprehensive loss in the condensed consolidated balance sheets until realized. Unrealized gains and losses for any short-term investments that management intends to sell or it is more likely than not that management will be required to sell prior to their anticipated recovery are recorded in other income, net. The Company segments its portfolio based on the underlying risk profiles of the securities and has a zero-loss expectation for U.S. treasury and U.S. government agency securities. The Company regularly reviews the securities in an unrealized loss position and evaluates the current expected credit loss by considering factors such as credit ratings, issuer-specific factors, current economic conditions, and reasonable and supportable forecasts.
Concentrations of credit risk	Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash, cash equivalents, accounts receivable, and short-term investments. Although the Company deposits its cash and short-term investments with multiple well-established financial institutions, the deposits, at times, may exceed federally insured limits. The Company has not experienced any losses on its deposits of cash and cash equivalents and management believes that the institutions where the Company has deposits are financially stable and, accordingly, minimal credit risk exists.
Property and equipment, net	Equipment is stated at cost less accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful life of the related asset, which is generally three The following table presents the estimated useful lives of property and equipment: Property and equipment Useful life Buildings 20 to 30 years Datacenter and other computer equipment 3 to 5 years Office equipment and other 3 to 7 years Leasehold improvements Lesser of estimated useful life or remaining lease term
Lease obligations	The Company leases office space, datacenters, and equipment under non-cancelable finance and operating leases with various expiration dates through 2036. The Company determines if an arrangement contains a lease at inception. Operating lease right-of-use assets and lease liabilities are recognized at the present value of the future lease payments at commencement date. The interest rate implicit in the Company’s operating leases is not readily determinable, and therefore an incremental borrowing rate is estimated to determine the present value of future payments. The estimated incremental borrowing rate factors in a hypothetical interest rate on a collateralized basis with similar terms, payments, and economic environments. Operating lease right-of-use assets also include any prepaid lease payments and lease incentives. Certain of the operating lease agreements contain rent concession, rent escalation, and option to renew provisions. Rent concession and rent escalation provisions are considered in determining the single lease cost to be recorded over the lease term. Single lease cost is recognized on a straight-line basis over the lease term commencing on the date the Company has the right to use the leased property. The lease terms may include options to extend or terminate the lease. The Company generally uses the base, non-cancelable, lease term when recognizing the lease assets and liabilities, unless it is reasonably certain that the option will be exercised. In addition, certain operating lease agreements contain tenant improvement allowances from its landlords. These allowances are accounted for as lease incentives and decrease the Company's right-of-use asset and reduce single lease cost over the lease term. As part of the Company's Virtual First strategy, Dropbox has retained a portion of its office space for in-person collaboration while the remainder will be subleased. Subsequently, the Company has recorded impairment charges in prior quarters as a result of adverse changes in the corporate real estate market in the San Francisco Bay area which has impacted our subleasing strategy in conjunction with the Company's shift to Virtual First. During the three months ended March 31, 2023 and 2022, the Company did not recognize any impairment charge related to right-of-use assets and other lease related property and equipment assets. See Note 9 "Leases" to our condensed consolidated financial statements included elsewhere in this Quarterly Report on Form 10-Q for further information. The Company leases certain equipment from various third parties, through equipment finance leases. These leases either include a bargain purchase option, a full transfer of ownership at the completion of the lease term, or the terms of the leases are at least 75 percent of the useful lives of the assets and are therefore classified as finance leases. These leases are capitalized in property and equipment, net and the related amortization of assets under finance leases is included in depreciation and amortization expense in the Company’s condensed consolidated statements of operations. Initial asset values and finance lease obligations are based on the present value of future minimum lease payments.
Business combinations	The Company uses best estimates and assumptions, including but not limited to, future expected cash flows, expected asset lives, and discount rates, to assign a fair value to the tangible and intangible assets acquired and liabilities assumed in business combinations as of the acquisition date. These estimates are inherently uncertain and subject to refinement. During the measurement period, which may be up to one year from the acquisition date, adjustments to the fair value of these tangible and intangible assets acquired and liabilities assumed may be recorded, with the corresponding offset to goodwill. Upon the conclusion of the measurement period or final determination of the fair value of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded to the Company’s condensed consolidated statements of operations.
Long-lived assets, including goodwill and other acquired intangible assets, net	The Company evaluates the recoverability of its property and equipment and finite-lived intangible assets for possible impairment whenever events or circumstances indicate that the carrying amount of such assets may not be recoverable. The evaluation is performed at the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets and liabilities. Recoverability of these assets is measured by a comparison of the carrying amounts to the future undiscounted cash flows the assets are expected to generate. If such review determines that the carrying amount of specific property and equipment or intangible assets is not recoverable, the carrying amount of such assets is reduced to its fair value. The Company reviews goodwill for impairment at least annually in the fourth quarter, or more frequently if events or changes in circumstances would more likely than not reduce the fair value of its single reporting unit below its carrying value. The Company has not recorded impairment charges on goodwill or intangible assets for the periods presented in these condensed consolidated financial statements. Acquired property and equipment and finite-lived intangible assets are amortized over their useful lives. The Company evaluates the estimated remaining useful life of these assets when events or changes in circumstances warrant a revision to the remaining period of amortization. If the Company revises the estimated useful life assumption for any asset, the remaining unamortized balance is amortized or depreciated over the revised estimated useful life on a prospective basis.
Income taxes	Deferred income tax balances reflect the effects of temporary differences between the financial reporting and tax bases of the Company’s assets and liabilities using enacted tax rates expected to apply when taxes are actually paid or recovered. In addition, deferred tax assets are recorded for net operating loss and credit carryforwards. A valuation allowance is provided against deferred tax assets unless it is more likely than not that they will be realized based on all available positive and negative evidence. Such evidence includes, but is not limited to, recent cumulative earnings or losses, expectations of future taxable income by taxing jurisdiction, and the carry-forward periods available for the utilization of deferred tax assets. The Company uses a two-step approach to recognizing and measuring uncertain income tax positions. The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates it is more likely than not that the position will be sustained on audit. The second step is to measure the tax benefit as the largest amount, which is more than 50% likely of being realized upon ultimate settlement. The Company recognizes interest and penalties related to unrecognized tax benefits as income tax expense. Although the Company believes that it has adequately reserved for its uncertain tax positions, it can provide no assurance that the final tax outcome of these matters will not be materially different. The Company evaluates its uncertain tax positions on a regular basis and evaluations are based on a number of factors, including changes in facts and circumstances, changes in tax law, correspondence with tax authorities during the course of an audit, and effective settlement of audit issues. To the extent that the final tax outcome of these matters is different than the amounts recorded, such differences will affect the provision for income taxes in the period in which such determination is made and could have a material impact on the Company’s financial condition and results of operations.
Fair value measurement	The Company applies fair value accounting for all financial assets and liabilities and non-financial assets and liabilities that are recognized or disclosed at fair value in the financial statements on a recurring basis. The Company defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining fair value measurements for assets and liabilities, the Company considers the principal or most advantageous market in which it would transact and the market-based risk measurements or assumptions that market participants would use in pricing the asset or liability, such as risks inherent in valuation techniques, transfer restrictions, and credit risk. Fair value is estimated by applying the following hierarchy, which prioritizes the inputs used to measure fair value into three levels and bases the categorization within the hierarchy upon the lowest level of input that is available and significant to the fair value measurement: Level 1 —Quoted prices in active markets for identical assets or liabilities. Level 2 —Observable inputs other than quoted prices in active markets for identical assets and liabilities, quoted prices for identical or similar assets or liabilities in inactive markets, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 —Inputs that are generally unobservable and typically reflect management’s estimate of assumptions that market participants would use in pricing the asset or liability.
Recently adopted accounting pronouncements	In March 2022, the FASB issued ASU 2022-02, Financial Instruments—Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures, which eliminates the accounting guidance on troubled debt restructurings for creditors in ASC 310-40 and amends the guidance on "vintage disclosures" to require disclosure of current-period gross write-offs by year of origination. The ASU also updates the requirements related to accounting for credit losses under ASC 326 and adds enhanced disclosures for creditors with respect to loan refinancings and restructurings for borrowers experiencing financial difficulty. The Company adopted ASU 2022-02 on January 1, 2023. The adoption of the standard did not have a material impact on the Company's condensed consolidated financial statements.
Goodwill	Goodwill represents the excess of the purchase price in a business combination over the fair value of net tangible and intangible assets acquiredGoodwill amounts are not amortized, but tested for impairment on an annual basis.
Net income per share	The Company computes net income per share using the two-class method required for multiple classes of common stock and participating securities. The rights, including the liquidation and dividend rights, of the Class A common stock and Class B common stock are substantially identical, other than voting rights. Accordingly, the Class A common stock and Class B common stock share equally in the Company’s net income and losses.

Description of the Business a_3

Description of the Business and Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Estimated Useful Lives of Property and Equipment	The following table presents the estimated useful lives of property and equipment: Property and equipment Useful life Buildings 20 to 30 years Datacenter and other computer equipment 3 to 5 years Office equipment and other 3 to 7 years Leasehold improvements Lesser of estimated useful life or remaining lease term Property and equipment, net consisted of the following: As of March 31, 2023 December 31, 2022 Datacenter and other computer equipment $ 699.8 $ 671.3 Furniture and fixtures 12.3 19.8 Leasehold improvements 98.5 118.0 Construction in progress 3.1 2.8 Total property and equipment 813.7 811.9 Accumulated depreciation and amortization (506.5) (503.5) Property and equipment, net $ 307.2 $ 308.4

Cash, Cash Equivalents and Sh_2

Cash, Cash Equivalents and Short-Term Investments (Tables)	3 Months Ended
	Mar. 31, 2023
Cash and Cash Equivalents [Abstract]
Schedule of Cash, Cash Equivalents and Short-Term Investments	The amortized cost, unrealized gains and losses and estimated fair value of the Company's cash, cash equivalents and short-term investments as of March 31, 2023 and December 31, 2022 consisted of the following: As of March 31, 2023 Amortized Cost Unrealized Gain Unrealized Loss Estimated Fair Value Cash $ 88.8 $ — $ — $ 88.8 Cash equivalents Money market funds 243.9 — — 243.9 Total cash & cash equivalents $ 332.7 $ — $ — $ 332.7 Short-term investments Corporate notes and obligations 435.7 0.1 (18.8) 417.0 U.S. Treasury securities 284.3 0.6 (10.3) 274.6 Asset backed securities 106.1 0.1 (4.7) 101.5 Municipal securities 65.2 — (3.4) 61.8 Commercial paper 17.7 — — 17.7 Certificates of deposit 21.7 — — 21.7 U.S. agency obligations 18.4 — (0.6) 17.8 Foreign government obligations 6.0 — (0.3) 5.7 Supranational securities 2.8 — (0.2) 2.6 Total short-term investments 957.9 0.8 (38.3) 920.4 Total $ 1,290.6 $ 0.8 $ (38.3) $ 1,253.1 As of December 31, 2022 Amortized Cost Unrealized Gain Unrealized Loss Estimated Fair Value Cash $ 90.1 $ — $ — $ 90.1 Cash equivalents Money market funds 139.5 — — 139.5 Commercial paper 3.2 — — 3.2 Total cash & cash equivalents $ 232.8 $ — $ — $ 232.8 Short-term investments Corporate notes and obligations 512.1 0.1 (22.7) 489.5 U.S. Treasury securities 360.2 0.2 (14.0) 346.4 Asset backed securities 117.6 — (6.0) 111.6 Municipal securities 65.3 — (4.1) 61.2 Commercial paper 46.4 — — 46.4 Certificates of deposit 29.1 — — 29.1 U.S. agency obligations 18.4 — (0.8) 17.6 Foreign government obligations 6.0 — (0.4) 5.6 Supranational securities 3.4 — (0.2) 3.2 Total short-term investments 1,158.5 0.3 (48.2) 1,110.6 Total $ 1,391.3 $ 0.3 $ (48.2) $ 1,343.4
Contractual Maturities of Short Term Investments	The following table presents the contractual maturities of the Company’s short-term investments as of March 31, 2023: As of March 31, 2023 Amortized cost Estimated fair value Due within one year $ 309.9 $ 303.9 Due between one to three years 515.6 493.8 Due after three years 132.4 122.7 Total $ 957.9 $ 920.4
Short-Term Investments in Continuous Unrealized Loss Position	The following tables present the breakdown of the short-term investments that have been in a continuous unrealized loss position aggregated by investment category, as of March 31, 2023 and December 31, 2022: As of March 31, 2023 Less than 12 months More than 12 months Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Corporate notes and obligations $ 97.8 $ (1.4) $ 296.4 $ (17.4) $ 394.2 $ (18.8) U.S. Treasury securities 57.3 (1.0) 148.7 (9.3) 206.0 (10.3) Asset backed securities 9.0 (0.1) 89.6 (4.7) 98.6 (4.8) Municipal securities 9.4 (0.3) 52.4 (3.1) 61.8 (3.4) U.S. agency obligations 3.8 — 14.0 (0.6) 17.8 (0.6) Foreign government obligations — — 5.6 (0.2) 5.6 (0.2) Supranational securities — — 2.6 (0.2) 2.6 (0.2) Total $ 177.3 $ (2.8) $ 609.3 $ (35.5) $ 786.6 $ (38.3) As of December 31, 2022 Less than 12 months More than 12 months Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Corporate notes and obligations $ 176.5 $ (3.5) $ 292.3 $ (19.2) $ 468.8 $ (22.7) U.S. Treasury securities 110.9 (1.8) 176.9 (12.2) 287.8 (14.0) Asset backed securities 13.7 (0.4) 90.4 (5.6) 104.1 (6.0) Municipal securities 9.3 (0.3) 51.6 (3.8) 60.9 (4.1) U.S. agency obligations 3.9 — 13.8 (0.8) 17.7 (0.8) Foreign government obligations — — 5.5 (0.4) 5.5 (0.4) Supranational securities — — 3.2 (0.2) 3.2 (0.2) Total $ 314.3 $ (6.0) $ 633.7 $ (42.2) $ 948.0 948.0 $ (48.2)

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2023
Fair Value Disclosures [Abstract]
Schedule of Fair Value Assets Measured On Recurring Basis	The following table presents information about the Company’s financial instruments that are measured at fair value on a recurring basis using the input categories discussed in Note 1: As of March 31, 2023 Level 1 Level 2 Level 3 Total Cash equivalents Money market funds $ 243.9 $ — $ — $ 243.9 Total cash equivalents $ 243.9 $ — $ — $ 243.9 Short-term investments Corporate notes and obligations — 417.0 — 417.0 U.S. Treasury securities — 274.6 — 274.6 Asset backed securities — 101.5 — 101.5 Municipal securities — 61.8 — 61.8 Commercial paper — 17.7 — 17.7 Certificates of deposit — 21.7 — 21.7 U.S. agency obligations — 17.8 — 17.8 Foreign government obligations — 5.7 — 5.7 Supranational securities — 2.6 — 2.6 Total short-term investments — 920.4 — 920.4 Total $ 243.9 $ 920.4 $ — $ 1,164.3 As of December 31, 2022 Level 1 Level 2 Level 3 Total Cash equivalents Money market funds $ 139.5 $ — $ — $ 139.5 Commercial paper — 3.2 — 3.2 Total cash equivalents $ 139.5 $ 3.2 $ — $ 142.7 Short-term investments Corporate notes and obligations — 489.5 — 489.5 U.S. Treasury securities — 346.4 — 346.4 Asset backed securities — 111.6 — 111.6 Municipal securities — 61.2 — 61.2 Commercial paper — 46.4 — 46.4 Certificates of deposit — 29.1 — 29.1 Foreign government obligations — 5.6 — 5.6 U.S. agency obligations — 17.6 — 17.6 Supranational securities — 3.2 — 3.2 Total short-term investments — 1,110.6 — 1,110.6 Total $ 139.5 $ 1,113.8 $ — $ 1,253.3

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	3 Months Ended
	Mar. 31, 2023
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment, Net	The following table presents the estimated useful lives of property and equipment: Property and equipment Useful life Buildings 20 to 30 years Datacenter and other computer equipment 3 to 5 years Office equipment and other 3 to 7 years Leasehold improvements Lesser of estimated useful life or remaining lease term Property and equipment, net consisted of the following: As of March 31, 2023 December 31, 2022 Datacenter and other computer equipment $ 699.8 $ 671.3 Furniture and fixtures 12.3 19.8 Leasehold improvements 98.5 118.0 Construction in progress 3.1 2.8 Total property and equipment 813.7 811.9 Accumulated depreciation and amortization (506.5) (503.5) Property and equipment, net $ 307.2 $ 308.4

Business Combinations (Tables)

Business Combinations (Tables)	3 Months Ended
	Mar. 31, 2023
Business Combination and Asset Acquisition [Abstract]
Schedule of Purchase Consideration Transferred	The purchase consideration transferred consisted of the following: Purchase consideration Cash paid to stockholders $ 50.0 Cash paid for extinguishing shadow stock units 3.2 Transaction costs paid by Dropbox on behalf of FormSwift 2.0 Cash purchase consideration $ 55.2 Indemnification holdback (1) 14.3 Total purchase consideration $ 69.5 (1) Approximately $14.3 million of the total purchase consideration was withheld as an indemnification holdback to be used for the purpose of satisfying any indemnification claims made by the Company for a period of 18 months following the transaction close date. Any remaining indemnity will be released to the seller's representative following the 18 month period.
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The purchase consideration was allocated to the tangible and intangible assets and liabilities acquired as of the acquisition date, with the excess recorded to goodwill as shown below. The fair value of assets and liabilities acquired may change as additional information is received during the measurement period. The measurement period will end no later than one-year from the acquisition date. Assets acquired: Cash and cash equivalents $ 0.4 Acquisition-related intangible assets 41.2 Accounts receivable, prepaid and other assets 3.4 Total assets acquired $ 45.0 Liabilities assumed: Accounts payable, accrued and other liabilities $ 4.6 Deferred revenue 6.6 Total liabilities assumed 11.2 Net assets acquired, excluding goodwill 33.8 Total purchase consideration 69.5 Goodwill (2) $ 35.7 (2) The goodwill recognized was primarily attributable to the opportunity to expand the user base of the Company's platform. A portion of the goodwill is deductible for U.S. federal income tax purposes.
Schedule of Identifiable Finite-lived Intangible Assets Acquired and Estimated Weighted Average Useful Lives	The fair value of the separately identifiable finite-lived intangible assets acquired and estimated weighted average useful lives as of the acquisition date are as follows: Estimated fair values Estimated weighted average useful lives Developed technology $ 24.2 5.0 Customer relationships 16.4 2.0 Trade name 0.6 1.0 Total acquisition-related intangible assets $ 41.2

Intangible Assets (Tables)

Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets	Intangible assets consisted of the following: As of March 31, As of December 31, Weighted- (In years) As of March 31, 2023 2022 2023 Developed technology $ 74.3 $ 74.3 4.0 Customer relationships 43.2 43.2 2.0 Patents 19.4 19.4 4.1 Software 8.9 8.9 0.4 Trademarks and trade names 5.8 5.8 1.5 Licenses 4.6 4.6 0.0 Assembled workforce in asset acquisitions 3.4 3.4 3.1 Other 1.1 1.1 2.5 Total intangibles 160.7 160.7 Accumulated amortization (79.9) (72.4) Intangible assets, net $ 80.8 $ 88.3
Schedule of Future Amortization Expense	Expected future amortization expense for intangible assets as of March 31, 2023 is as follows: Intangible assets Remainder of 2023 $ 22.9 2024 25.1 2025 14.8 2026 10.4 2027 7.0 Thereafter 0.6 Total $ 80.8

Goodwill (Tables)

Goodwill (Tables)	3 Months Ended
	Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Changes in Carrying Amounts of Goodwill	The changes in the carrying amounts of goodwill were as follows: Balance at December 31, 2022 $ 403.3 Effect of foreign currency translation (0.8) Balance at March 31, 2023 $ 402.5

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2023
Debt Disclosure [Abstract]
Schedule of Convertible Debt	The following is a summary of the Company’s convertible senior notes as of March 31, 2023 and December 31, 2022. 2026 Notes 2028 Notes Total March 31, 2023 Principal balance $ 695.8 $ 693.3 $ 1,389.1 Unamortized issuance costs (6.4) (7.7) (14.1) Carrying value, net $ 689.4 $ 685.6 $ 1,375.0 December 31, 2022 Principal balance $ 695.8 $ 693.3 $ 1,389.1 Unamortized issuance costs (7.0) (8.1) (15.1) Carrying value, net $ 688.8 $ 685.2 $ 1,374.0
Schedule of Maturities of Long-term Debt	Maturities on the Company's long-term convertible debt are as follows: Convertible Debt Remainder of 2023 $ — 2024 — 2025 — 2026 695.8 2027 — 2028 693.3 Thereafter — Total $ 1,389.1

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2023
Leases [Abstract]
Maturities of Operating Lease Liabilities	Future minimum lease payments under non-cancellable leases as of March 31, 2023 were as follows: Operating leases (1) Finance leases Remainder of 2023 $ 68.7 $ 95.2 2024 90.0 97.0 2025 84.6 59.1 2026 65.0 31.0 2027 65.2 2.5 2028 65.2 — Thereafter 347.3 — Total future minimum lease payments $ 786.0 $ 284.8 Less imputed interest (150.4) (15.8) Less tenant improvement receivables (1.2) — Total liability $ 634.4 $ 269.0
Maturities of Finance Lease Liabilities	Future minimum lease payments under non-cancellable leases as of March 31, 2023 were as follows: Operating leases (1) Finance leases Remainder of 2023 $ 68.7 $ 95.2 2024 90.0 97.0 2025 84.6 59.1 2026 65.0 31.0 2027 65.2 2.5 2028 65.2 — Thereafter 347.3 — Total future minimum lease payments $ 786.0 $ 284.8 Less imputed interest (150.4) (15.8) Less tenant improvement receivables (1.2) — Total liability $ 634.4 $ 269.0
Payment to be Received on Operating Leases to Subtenants	Future non-cancelable rent payments from the Company's subtenants as of March 31, 2023 were as follows: Operating leases Remainder of 2023 $ 12.8 2024 17.3 2025 15.7 2026 12.0 2027 8.2 2028 7.7 Thereafter 18.7 Total future sublease rent payments 92.4 Less sub-tenant incentive (1.1) Total future sublease rent payments, net 91.3

Accrued and Other Current Lia_2

Accrued and Other Current Liabilities (Tables)	3 Months Ended
	Mar. 31, 2023
Payables and Accruals [Abstract]
Schedule of Accrued and Other Current Liabilities	Accrued and other current liabilities consisted of the following: As of March 31, 2023 December 31, 2022 Non-income taxes payable $ 77.0 $ 76.4 Accrued legal and other external fees 34.5 25.5 Other accrued and current liabilities 55.6 38.0 Total accrued and other current liabilities $ 167.1 $ 139.9

Stockholders_ Deficit (Tables)

Stockholders’ Deficit (Tables)	3 Months Ended
	Mar. 31, 2023
Stockholders' Equity Note [Abstract]
Schedule of Stock Option and Restricted Stock Activity	Stock option and restricted stock activity for the Plans was as follows for the three months ended March 31, 2023: Options outstanding Restricted stock Number of Number of Weighted- Weighted- Aggregate intrinsic value Number of Weighted- Balance at December 31, 2022 97.9 0.4 $ 11.30 4.5 $ 4.5 34.8 $ 23.40 Additional shares authorized 17.5 — — — — — — Options exercised and restricted stock units and awards released — (0.1) 3.12 — — (3.7) 23.33 Options and restricted stock units and awards canceled 1.7 — 15.31 — — (1.7) 27.14 Shares withheld related to net share settlement of restricted stock units and awards 1.4 — — — — — — Options and restricted stock units and awards granted (2.7) — — — — 2.7 22.43 Balance as of March 31, 2023 115.8 0.3 $ 12.53 4.3 $ 3.3 32.1 $ 23.15 Vested at March 31, 2023 0.3 $ 12.53 4.3 $ 3.3 — $ — Unvested at March 31, 2023 — $ — — $ — 32.1 $ 23.15
Schedule of Pre-Tax Intrinsic Value of Options Exercised	The following table summarizes information about the pre-tax intrinsic value of options exercised during the three months ended March 31, 2023 and 2022: Three Months Ended 2023 2022 Intrinsic value of options exercised $ 0.9 $ 1.4

Net Income Per Share (Tables)

Net Income Per Share (Tables)	3 Months Ended
	Mar. 31, 2023
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The numerators and denominators of the basic and diluted EPS computations for the Company's common stock are calculated as follows (in millions, except for per share amounts): Three Months Ended Three Months Ended 2023 2022 Class A Class B Class A Class B Basic net income per share: Numerator Net income attributable to common stockholders $ 52.7 $ 16.3 $ 61.9 $ 17.8 Denominator Weighted-average number of common shares outstanding used in computing basic net income per share 265.2 81.9 288.0 82.7 Net income per common share, basic $ 0.20 $ 0.20 $ 0.22 $ 0.22 Diluted net income per share: Numerator Net income attributable to common stockholders $ 52.7 $ 16.3 $ 61.9 $ 17.8 Reallocation of net income as a result of conversion of Class B to Class A common stock 16.3 — 17.8 — Reallocation of net income to Class B common stock — (0.1) — (0.1) Net income attributable to common stockholders for diluted EPS $ 69.0 $ 16.2 $ 79.7 $ 17.7 Denominator Weighted-average number of common shares outstanding used in computing basic net income per share 265.2 81.9 288.0 82.7 Weighted-average effect of dilutive restricted stock units and awards and employee stock options 1.7 — 2.2 0.1 Conversion of Class B to Class A common stock 81.9 — 82.7 — Weighted-average number of common shares outstanding used in computing diluted net income per share 348.8 81.9 372.9 82.8 Net income per common share, diluted $ 0.20 $ 0.20 $ 0.21 $ 0.21
Schedule of Potentially Dilutive Securities Excluded from Computation of Earnings Per Share	The weighted-average impact of potentially dilutive securities that were not included in the diluted per share calculations because they would be anti-dilutive was as follows: Three Months Ended 2023 2022 Restricted stock units and awards 21.4 13.3 Options to purchase shares of common stock 0.1 0.3 Co-Founder Grant 8.3 8.3 Convertible Senior Notes 37.8 37.8 Warrants 37.8 37.8 Total 105.4 97.5

Geographic Areas (Tables)

Geographic Areas (Tables)	3 Months Ended
	Mar. 31, 2023
Segment Reporting [Abstract]
Long-lived Assets by Geographic Areas	The following table sets forth long-lived assets by geographic area: As of March 31, 2023 December 31, 2022 United States $ 299.1 $ 300.2 International (1) 8.1 8.2 Total property and equipment, net $ 307.2 $ 308.4
Revenue by Geographic Areas	The following table sets forth revenue by geographic area for the three months ended March 31, 2023 and 2022. Three Months Ended 2023 2022 United States $ 345.9 $ 299.2 International (1) 265.2 263.2 Total revenue $ 611.1 $ 562.4 (1) No single country outside of the United States accounted for more than 10% of total revenue during the three months ended March 31, 2023 and 2022, respectively.

Description of the Business a_4

Description of the Business and Summary of Significant Accounting Policies - Foreign Currency Transactions (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Net foreign currency transaction gain (loss)	$ 0.8	$ 2.8

Description of the Business a_5

Description of the Business and Summary of Significant Accounting Policies - Revenue Recognition (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Revenue, performance obligation, description of timing	one year or longer
Revenue recognized	$ 331.5	$ 313.7
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 797.1
Performance obligation satisfaction period	12 months

Description of the Business a_6

Description of the Business and Summary of Significant Accounting Policies - Stock-based Compensation (Details) - Restricted Stock - shares shares in Millions	1 Months Ended	3 Months Ended
	Dec. 31, 2017	Mar. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		4 years
Shares granted (in shares)		2.7
Chief Executive Officer | Co-Founder Grant
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted (in shares)	10.3

Description of the Business a_7

Description of the Business and Summary of Significant Accounting Policies - Short-term Investments (Details) - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Allowance for credit losses	$ 0	$ 0

Description of the Business a_8

Description of the Business and Summary of Significant Accounting Policies - Concentration of Credit Risk (Details) - Trade and Other Receivables - Customer Concentration Risk	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Customer A
Concentration Risk [Line Items]
Concentration risk, percentage	11%	12%
Customer B
Concentration Risk [Line Items]
Concentration risk, percentage	49%	30%

Description of the Business a_9

Description of the Business and Summary of Significant Accounting Policies - Deferred Commissions, Net (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Capitalized Contract Cost [Line Items]
Additional contract costs deferred	$ 6.1	$ 7.6
Amortization of deferred commissions	$ 10.7	$ 9
Deferred Commissions
Capitalized Contract Cost [Line Items]
Deferred contract costs, amortization period	5 years
Deferred Commissions | Prepaid Expenses and Other Current Assets
Capitalized Contract Cost [Line Items]
Deferred contract costs	$ 30.1		$ 33.6
Deferred Commissions | Other Assets
Capitalized Contract Cost [Line Items]
Deferred contract costs	$ 24.6		$ 25.7
Renewal Commissions
Capitalized Contract Cost [Line Items]
Deferred contract costs, amortization period	1 year

Description of the Business _10

Description of the Business and Summary of Significant Accounting Policies - Property and Equipment, Net (Details)	3 Months Ended
	Mar. 31, 2023
Minimum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	3 years
Minimum | Buildings
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	20 years
Minimum | Datacenter and other computer equipment
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	3 years
Minimum | Office equipment and other
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	3 years
Maximum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	7 years
Maximum | Buildings
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	30 years
Maximum | Datacenter and other computer equipment
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	5 years
Maximum | Office equipment and other
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	7 years

Description of the Business _11

Description of the Business and Summary of Significant Accounting Policies - Long-lived assets, including goodwill and other acquired intangible assets, net (Details) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Impairment charges	$ 0	$ 0

Cash, Cash Equivalents and Sh_3

Cash, Cash Equivalents and Short-Term Investments - Schedule of Components (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents, at carrying value	$ 332.7	$ 232.8
Cash equivalents	332.7	232.8
Short-term investments, amortized cost	957.9	1,158.5
Short-term investments, unrealized gain	0.8	0.3
Short-term investments, unrealized loss	(38.3)	(48.2)
Short-term investments, estimated fair value	920.4	1,110.6
Total cash, cash equivalents, and short term investments, before unrealized gains (losses) on investments	1,290.6	1,391.3
Total cash, cash equivalents, and short term investments	1,253.1	1,343.4
Corporate notes and obligations
Cash and Cash Equivalents [Line Items]
Short-term investments, amortized cost	435.7	512.1
Short-term investments, unrealized gain	0.1	0.1
Short-term investments, unrealized loss	(18.8)	(22.7)
Short-term investments, estimated fair value	417	489.5
U.S. Treasury securities
Cash and Cash Equivalents [Line Items]
Short-term investments, amortized cost	284.3	360.2
Short-term investments, unrealized gain	0.6	0.2
Short-term investments, unrealized loss	(10.3)	(14)
Short-term investments, estimated fair value	274.6	346.4
Asset backed securities
Cash and Cash Equivalents [Line Items]
Short-term investments, amortized cost	106.1	117.6
Short-term investments, unrealized gain	0.1	0
Short-term investments, unrealized loss	(4.7)	(6)
Short-term investments, estimated fair value	101.5	111.6
Municipal securities
Cash and Cash Equivalents [Line Items]
Short-term investments, amortized cost	65.2	65.3
Short-term investments, unrealized gain	0	0
Short-term investments, unrealized loss	(3.4)	(4.1)
Short-term investments, estimated fair value	61.8	61.2
Commercial paper
Cash and Cash Equivalents [Line Items]
Short-term investments, amortized cost	17.7	46.4
Short-term investments, unrealized gain	0	0
Short-term investments, unrealized loss	0	0
Short-term investments, estimated fair value	17.7	46.4
Certificates of deposit
Cash and Cash Equivalents [Line Items]
Short-term investments, amortized cost	21.7	29.1
Short-term investments, unrealized gain	0	0
Short-term investments, unrealized loss	0	0
Short-term investments, estimated fair value	21.7	29.1
U.S. agency obligations
Cash and Cash Equivalents [Line Items]
Short-term investments, amortized cost	18.4	18.4
Short-term investments, unrealized gain	0	0
Short-term investments, unrealized loss	(0.6)	(0.8)
Short-term investments, estimated fair value	17.8	17.6
Foreign government obligations
Cash and Cash Equivalents [Line Items]
Short-term investments, amortized cost	6	6
Short-term investments, unrealized gain	0	0
Short-term investments, unrealized loss	(0.3)	(0.4)
Short-term investments, estimated fair value	5.7	5.6
Supranational securities
Cash and Cash Equivalents [Line Items]
Short-term investments, amortized cost	2.8	3.4
Short-term investments, unrealized gain	0	0
Short-term investments, unrealized loss	(0.2)	(0.2)
Short-term investments, estimated fair value	2.6	3.2
Cash
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents, at carrying value	88.8	90.1
Cash equivalents	88.8	90.1
Money market funds
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents, at carrying value	243.9	139.5
Cash equivalents	$ 243.9	139.5
Commercial paper
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents, at carrying value		3.2
Cash equivalents		$ 3.2

Cash, Cash Equivalents and Sh_4

Cash, Cash Equivalents and Short-Term Investments - Narrative (Details) $ in Millions	3 Months Ended
	Mar. 31, 2023 USD ($) investment	Mar. 31, 2022 USD ($)	Dec. 31, 2022 USD ($)
Cash and Cash Equivalents [Abstract]
Cash in transit for credit and debit card transactions | $	$ 9.7		$ 12.4
Number of investments in unrealized loss positions | investment	615
Number of security types | investment	9
Number of security types in loss position | investment	7
Unrealized losses, short term investments | $	$ 38.3		$ 48.2
Investment income | $	$ 7.2	$ 1.8

Cash, Cash Equivalents and Sh_5

Cash, Cash Equivalents and Short-Term Investments - Contractual Maturities (Details) $ in Millions	Mar. 31, 2023 USD ($)
Amortized cost
Due within one year	$ 309.9
Due between one to three years	515.6
Due after three years	132.4
Total	957.9
Estimated fair value
Due within one year	303.9
Due between one to three years	493.8
Due after three years	122.7
Total	$ 920.4

Cash, Cash Equivalents and Sh_6

Cash, Cash Equivalents and Short-Term Investments - Unrealized Loss Position Aggregated By Investment (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Less than 12 months
Fair Value	$ 177.3	$ 314.3
Gross Unrealized Losses	(2.8)	(6)
More than 12 months
Fair Value	609.3	633.7
Gross Unrealized Losses	(35.5)	(42.2)
Total
Fair Value	786.6	948
Gross Unrealized Losses	(38.3)	(48.2)
Corporate notes and obligations
Less than 12 months
Fair Value	97.8	176.5
Gross Unrealized Losses	(1.4)	(3.5)
More than 12 months
Fair Value	296.4	292.3
Gross Unrealized Losses	(17.4)	(19.2)
Total
Fair Value	394.2	468.8
Gross Unrealized Losses	(18.8)	(22.7)
U.S. Treasury securities
Less than 12 months
Fair Value	57.3	110.9
Gross Unrealized Losses	(1)	(1.8)
More than 12 months
Fair Value	148.7	176.9
Gross Unrealized Losses	(9.3)	(12.2)
Total
Fair Value	206	287.8
Gross Unrealized Losses	(10.3)	(14)
Asset backed securities
Less than 12 months
Fair Value	9	13.7
Gross Unrealized Losses	(0.1)	(0.4)
More than 12 months
Fair Value	89.6	90.4
Gross Unrealized Losses	(4.7)	(5.6)
Total
Fair Value	98.6	104.1
Gross Unrealized Losses	(4.8)	(6)
Municipal securities
Less than 12 months
Fair Value	9.4	9.3
Gross Unrealized Losses	(0.3)	(0.3)
More than 12 months
Fair Value	52.4	51.6
Gross Unrealized Losses	(3.1)	(3.8)
Total
Fair Value	61.8	60.9
Gross Unrealized Losses	(3.4)	(4.1)
U.S. agency obligations
Less than 12 months
Fair Value	3.8	3.9
Gross Unrealized Losses	0	0
More than 12 months
Fair Value	14	13.8
Gross Unrealized Losses	(0.6)	(0.8)
Total
Fair Value	17.8	17.7
Gross Unrealized Losses	(0.6)	(0.8)
Foreign government obligations
Less than 12 months
Fair Value	0	0
Gross Unrealized Losses	0	0
More than 12 months
Fair Value	5.6	5.5
Gross Unrealized Losses	(0.2)	(0.4)
Total
Fair Value	5.6	5.5
Gross Unrealized Losses	(0.2)	(0.4)
Supranational securities
Less than 12 months
Fair Value	0	0
Gross Unrealized Losses	0	0
More than 12 months
Fair Value	2.6	3.2
Gross Unrealized Losses	(0.2)	(0.2)
Total
Fair Value	2.6	3.2
Gross Unrealized Losses	$ (0.2)	$ (0.2)

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value on Recurring Basis (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	$ 332.7	$ 232.8
Short-term investments	920.4	1,110.6
Corporate notes and obligations
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	417	489.5
U.S. Treasury securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	274.6	346.4
Asset backed securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	101.5	111.6
Municipal securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	61.8	61.2
Commercial paper
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	17.7	46.4
Certificates of deposit
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	21.7	29.1
U.S. agency obligations
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	17.8	17.6
Foreign government obligations
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	5.7	5.6
Supranational securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	2.6	3.2
Money market funds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	243.9	139.5
Commercial paper
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents		3.2
Fair Value, Measurements, Recurring
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	243.9	142.7
Short-term investments	920.4	1,110.6
Assets, fair value disclosure	1,164.3	1,253.3
Fair Value, Measurements, Recurring | Corporate notes and obligations
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	417	489.5
Fair Value, Measurements, Recurring | U.S. Treasury securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	274.6	346.4
Fair Value, Measurements, Recurring | Asset backed securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	101.5	111.6
Fair Value, Measurements, Recurring | Municipal securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	61.8	61.2
Fair Value, Measurements, Recurring | Commercial paper
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	17.7	46.4
Fair Value, Measurements, Recurring | Certificates of deposit
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	21.7	29.1
Fair Value, Measurements, Recurring | U.S. agency obligations
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	17.8	17.6
Fair Value, Measurements, Recurring | Foreign government obligations
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	5.7	5.6
Fair Value, Measurements, Recurring | Supranational securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	2.6	3.2
Fair Value, Measurements, Recurring | Money market funds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	243.9	139.5
Fair Value, Measurements, Recurring | Commercial paper
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents		3.2
Fair Value, Measurements, Recurring | Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	243.9	139.5
Short-term investments	0	0
Assets, fair value disclosure	243.9	139.5
Fair Value, Measurements, Recurring | Level 1 | Corporate notes and obligations
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	0	0
Fair Value, Measurements, Recurring | Level 1 | U.S. Treasury securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	0	0
Fair Value, Measurements, Recurring | Level 1 | Asset backed securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	0	0
Fair Value, Measurements, Recurring | Level 1 | Municipal securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	0	0
Fair Value, Measurements, Recurring | Level 1 | Commercial paper
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	0	0
Fair Value, Measurements, Recurring | Level 1 | Certificates of deposit
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	0	0
Fair Value, Measurements, Recurring | Level 1 | U.S. agency obligations
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	0	0
Fair Value, Measurements, Recurring | Level 1 | Foreign government obligations
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	0	0
Fair Value, Measurements, Recurring | Level 1 | Supranational securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	0	0
Fair Value, Measurements, Recurring | Level 1 | Money market funds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	243.9	139.5
Fair Value, Measurements, Recurring | Level 1 | Commercial paper
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents		0
Fair Value, Measurements, Recurring | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	0	3.2
Short-term investments	920.4	1,110.6
Assets, fair value disclosure	920.4	1,113.8
Fair Value, Measurements, Recurring | Level 2 | Corporate notes and obligations
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	417	489.5
Fair Value, Measurements, Recurring | Level 2 | U.S. Treasury securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	274.6	346.4
Fair Value, Measurements, Recurring | Level 2 | Asset backed securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	101.5	111.6
Fair Value, Measurements, Recurring | Level 2 | Municipal securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	61.8	61.2
Fair Value, Measurements, Recurring | Level 2 | Commercial paper
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	17.7	46.4
Fair Value, Measurements, Recurring | Level 2 | Certificates of deposit
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	21.7	29.1
Fair Value, Measurements, Recurring | Level 2 | U.S. agency obligations
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	17.8	17.6
Fair Value, Measurements, Recurring | Level 2 | Foreign government obligations
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	5.7	5.6
Fair Value, Measurements, Recurring | Level 2 | Supranational securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	2.6	3.2
Fair Value, Measurements, Recurring | Level 2 | Money market funds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	0	0
Fair Value, Measurements, Recurring | Level 2 | Commercial paper
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents		3.2
Fair Value, Measurements, Recurring | Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	0	0
Short-term investments	0	0
Assets, fair value disclosure	0	0
Fair Value, Measurements, Recurring | Level 3 | Corporate notes and obligations
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	0	0
Fair Value, Measurements, Recurring | Level 3 | U.S. Treasury securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	0	0
Fair Value, Measurements, Recurring | Level 3 | Asset backed securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	0	0
Fair Value, Measurements, Recurring | Level 3 | Municipal securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	0	0
Fair Value, Measurements, Recurring | Level 3 | Commercial paper
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	0	0
Fair Value, Measurements, Recurring | Level 3 | Certificates of deposit
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	0	0
Fair Value, Measurements, Recurring | Level 3 | U.S. agency obligations
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	0	0
Fair Value, Measurements, Recurring | Level 3 | Foreign government obligations
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	0	0
Fair Value, Measurements, Recurring | Level 3 | Supranational securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	0	0
Fair Value, Measurements, Recurring | Level 3 | Money market funds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	$ 0	0
Fair Value, Measurements, Recurring | Level 3 | Commercial paper
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents		$ 0

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) $ in Millions	Mar. 31, 2023 USD ($)
2026 Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Convertible debt, fair value disclosures	$ 619.4
2026 Notes | Convertible Debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument, face amount	$ 695.8
Debt instrument, interest rate, stated percentage	0%
2028 Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Convertible debt, fair value disclosures	$ 600.3
2028 Notes | Convertible Debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument, face amount	$ 693.3
Debt instrument, interest rate, stated percentage	0%

Property and Equipment, Net - S

Property and Equipment, Net - Schedule of Components (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 813.7	$ 811.9
Accumulated depreciation and amortization	(506.5)	(503.5)
Property and equipment, net	307.2	308.4
Datacenter and other computer equipment
Property, Plant and Equipment [Line Items]
Total property and equipment	699.8	671.3
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Total property and equipment	12.3	19.8
Leasehold improvements
Property, Plant and Equipment [Line Items]
Total property and equipment	98.5	118
Construction in progress
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 3.1	$ 2.8

Property and Equipment, Net - N

Property and Equipment, Net - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Assets under equipment finance lease, gross	$ 487.4		$ 456.4
Assets under equipment finance lease, accumulated depreciation	269.1		$ 240.9
Depreciation	$ 35	$ 35.4

Business Combinations - Narrati

Business Combinations - Narrative (Details) - FormSwift $ in Millions	Dec. 15, 2022 USD ($)
Business Acquisition [Line Items]
Percentage of business acquired	100%
Purchase consideration, agreements with key personnel	$ 25.7
Required service period	3 years
Acquired finite-lived intangible assets weighted average amortization period	3 years 8 months 12 days

Business Combinations - Schedul

Business Combinations - Schedule of Purchase Consideration (Details) - FormSwift $ in Millions	Dec. 15, 2022 USD ($)
Business Acquisition [Line Items]
Cash paid to stockholders	$ 50
Cash paid for extinguishing shadow stock units	3.2
Transaction costs paid by Dropbox on behalf of FormSwift	2
Cash purchase consideration	55.2
Indemnification holdback	14.3
Total purchase consideration	$ 69.5
Indemnity holdback period	18 months

Business Combinations - Assets

Business Combinations - Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022	Dec. 15, 2022
Liabilities assumed:
Goodwill	$ 402.5	$ 403.3
FormSwift
Assets acquired:
Cash and cash equivalents			$ 0.4
Acquisition-related intangible assets			41.2
Accounts receivable, prepaid and other assets			3.4
Total assets acquired			45
Liabilities assumed:
Accounts payable, accrued and other liabilities			4.6
Deferred revenue			6.6
Total liabilities assumed			11.2
Net assets acquired, excluding goodwill			33.8
Total purchase consideration			69.5
Goodwill			$ 35.7

Business Combinations - Sched_2

Business Combinations - Schedule of Assets Acquired (Details) - FormSwift $ in Millions	Dec. 15, 2022 USD ($)
Acquired Finite-Lived Intangible Assets [Line Items]
Estimated fair values	$ 41.2
Estimated weighted average useful lives (In years)	3 years 8 months 12 days
Developed technology
Acquired Finite-Lived Intangible Assets [Line Items]
Estimated fair values	$ 24.2
Estimated weighted average useful lives (In years)	5 years
Customer relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Estimated fair values	$ 16.4
Estimated weighted average useful lives (In years)	2 years
Trade name
Acquired Finite-Lived Intangible Assets [Line Items]
Estimated fair values	$ 0.6
Estimated weighted average useful lives (In years)	1 year

Intangible Assets - Schedule of

Intangible Assets - Schedule of Intangible Assets (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	$ 160.7	$ 160.7
Accumulated amortization	(79.9)	(72.4)
Intangible assets, net	80.8	88.3
Developed technology
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	$ 74.3	74.3
Developed technology | Weighted Average
Finite-Lived Intangible Assets [Line Items]
Weighted- average remaining useful life (in years)	4 years
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	$ 43.2	43.2
Customer relationships | Weighted Average
Finite-Lived Intangible Assets [Line Items]
Weighted- average remaining useful life (in years)	2 years
Patents
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	$ 19.4	19.4
Patents | Weighted Average
Finite-Lived Intangible Assets [Line Items]
Weighted- average remaining useful life (in years)	4 years 1 month 6 days
Software
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	$ 8.9	8.9
Software | Weighted Average
Finite-Lived Intangible Assets [Line Items]
Weighted- average remaining useful life (in years)	4 months 24 days
Trademarks and trade names
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	$ 5.8	5.8
Trademarks and trade names | Weighted Average
Finite-Lived Intangible Assets [Line Items]
Weighted- average remaining useful life (in years)	1 year 6 months
Licenses
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	$ 4.6	4.6
Licenses | Weighted Average
Finite-Lived Intangible Assets [Line Items]
Weighted- average remaining useful life (in years)	0 years
Assembled workforce in asset acquisitions
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	$ 3.4	3.4
Assembled workforce in asset acquisitions | Weighted Average
Finite-Lived Intangible Assets [Line Items]
Weighted- average remaining useful life (in years)	3 years 1 month 6 days
Other
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	$ 1.1	$ 1.1
Other | Weighted Average
Finite-Lived Intangible Assets [Line Items]
Weighted- average remaining useful life (in years)	2 years 6 months

Intangible Assets - Schedule _2

Intangible Assets - Schedule of Future Amortization Expense (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 7.5	$ 4
Finite-Lived Intangible Assets, Amortization Expense, Maturity Schedule [Abstract]
Remainder of 2023	22.9
2024	25.1
2025	14.8
2026	10.4
2027	7
Thereafter	0.6
Total	$ 80.8

Goodwill (Details)

Goodwill (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 403,300,000
Effect of foreign currency translation	(800,000)
Goodwill, ending balance	402,500,000	$ 403,300,000
Goodwill impairment	$ 0	$ 0

Debt - Revolving Credit Facilit

Debt - Revolving Credit Facility (Details) - Credit And Guarantee Agreement - USD ($)	1 Months Ended
	Mar. 31, 2023	Feb. 28, 2021	Feb. 28, 2018	Apr. 30, 2017
Letter of Credit
Line of Credit Facility [Line Items]
Commitment fee (percent)			1.375%
Fronting fee (percent)			0.125%
Revolving Credit Facility
Line of Credit Facility [Line Items]
Unused capacity, commitment fee (percent)			0.20%
Line of Credit
Line of Credit Facility [Line Items]
Covenant terms, minimum liquidity balance			$ 100,000,000
Line of Credit | Letter of Credit
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity			187,500,000
Line of Credit | Revolving Credit Facility
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity		$ 500,000,000	$ 725,000,000	$ 600,000,000
Line of credit facility, accordion feature, increase limit		250,000,000
Debt issuance fees	$ 100,000	1,700,000
Write off of deferred debt issuance cost		$ 200,000
Aggregate letters of credit outstanding amount	38,800,000
Remaining borrowing capacity	$ 461,200,000
Line of Credit | Revolving Credit Facility | SOFR
Line of Credit Facility [Line Items]
Basis spread adjustment	0.10%
Basis spread on variable rate (percent)			1.375%
Line of Credit | Revolving Credit Facility | Base Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate (percent)			0.375%

Debt - Convertible Senior Notes

Debt - Convertible Senior Notes (Details) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2023 USD ($) d $ / shares	Mar. 31, 2022 USD ($)	Mar. 31, 2021 USD ($)
Debt Instrument [Line Items]
Proceeds from convertible debt			$ 1,400
Convertible Scenario One
Debt Instrument [Line Items]
Convertible debt, threshold trading days | d	20
Convertible debt, threshold consecutive trading days | d	30
Convertible debt, threshold percentage of stock price trigger	130%
Convertible Scenario Two
Debt Instrument [Line Items]
Convertible debt, threshold trading days | d	5
Convertible debt, threshold consecutive trading days | d	5
Convertible debt, threshold percentage of stock price trigger	98%
Redemption Scenario
Debt Instrument [Line Items]
Convertible debt, threshold trading days | d	20
Convertible debt, threshold consecutive trading days | d	30
Convertible debt, threshold percentage of stock price trigger	130%
Convertible Debt | Redemption Scenario
Debt Instrument [Line Items]
Convertible debt, redemption percentage	100%
Convertible Debt | Fundamental Change
Debt Instrument [Line Items]
Convertible debt, redemption percentage	100%
2026 Notes
Debt Instrument [Line Items]
Convertible debt, conversion rate	0.0261458
Convertible debt, conversion rate (in dollars per share) | $ / shares	$ 38.25
Interest expense	$ 0.6	$ 0.5
2026 Notes | Maximum
Debt Instrument [Line Items]
Convertible debt, conversion rate	0.0431406
2026 Notes | Convertible Debt
Debt Instrument [Line Items]
Proceeds from convertible debt			695.8
Debt issuance costs	$ 11
Debt instrument, term	5 years
Effective interest rate	0.32%
2028 Notes
Debt Instrument [Line Items]
Convertible debt, conversion rate	0.0282889
Convertible debt, conversion rate (in dollars per share) | $ / shares	$ 35.35
Interest expense	$ 0.4	$ 0.4
2028 Notes | Maximum
Debt Instrument [Line Items]
Convertible debt, conversion rate	0.0431406
2028 Notes | Convertible Debt
Debt Instrument [Line Items]
Proceeds from convertible debt			$ 693.3
Debt issuance costs	$ 11
Debt instrument, term	7 years
Effective interest rate	0.22%

Debt - Schedule of Convertible

Debt - Schedule of Convertible Notes (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Principal balance	$ 1,389.1
Convertible Debt
Debt Instrument [Line Items]
Principal balance	1,389.1	$ 1,389.1
Unamortized issuance costs	(14.1)	(15.1)
Carrying value, net	1,375	1,374
Convertible Debt | 2026 Notes
Debt Instrument [Line Items]
Principal balance	695.8	695.8
Unamortized issuance costs	(6.4)	(7)
Carrying value, net	689.4	688.8
Convertible Debt | 2028 Notes
Debt Instrument [Line Items]
Principal balance	693.3	693.3
Unamortized issuance costs	(7.7)	(8.1)
Carrying value, net	$ 685.6	$ 685.2

Debt - Long Term Debt Maturitie

Debt - Long Term Debt Maturities (Details) $ in Millions	Mar. 31, 2023 USD ($)
Debt Disclosure [Abstract]
Remainder of 2023	$ 0
2024	0
2025	0
2026	695.8
2027	0
2028	693.3
Thereafter	0
Total	$ 1,389.1

Debt - Convertible Note Hedges

Debt - Convertible Note Hedges and Warrants (Details) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2023 USD ($) $ / shares shares
2026 Notes
Derivative [Line Items]
Convertible debt, conversion rate (in dollars per share)	$ 38.25
Convertible debt, effective conversion rate (in dollars per share)	46.36
2028 Notes
Derivative [Line Items]
Convertible debt, conversion rate (in dollars per share)	35.35
Convertible debt, effective conversion rate (in dollars per share)	$ 46.36
2026 And 2028 Warrants
Derivative [Line Items]
Proceeds from issuance of warrants | $	$ 202.9
2026 Warrants
Derivative [Line Items]
Number of shares covered by warrant (in shares) | shares	18.1
Warrant price (in dollars per share)	$ 46.36
2028 Warrants
Derivative [Line Items]
Number of shares covered by warrant (in shares) | shares	20.1
Warrant price (in dollars per share)	$ 46.36
2026 Notes Hedge
Derivative [Line Items]
Convertible note hedge, number of shares covered by hedge (in shares) | shares	18.2
Convertible note hedge, strike price (in dollars per share)	$ 38.25
2028 Notes Hedge
Derivative [Line Items]
Convertible note hedge, number of shares covered by hedge (in shares) | shares	19.6
Convertible note hedge, strike price (in dollars per share)	$ 35.35
Convertible Note Hedge
Derivative [Line Items]
Cost of note hedge transaction | $	$ 265.3

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2017
Lessee, Lease, Description [Line Items]
Lease, renewal term	5 years
Operating sublease, extension term	4 years
Sublease income	$ 4,500,000	$ 4,500,000
Impairment charges	0	$ 0
Corporate Headquarters Lease
Lessee, Lease, Description [Line Items]
Operating lease, term of contract			15 years
Minimum obligations	542,300,000
Corporate Headquarters Lease | Line of Credit | Letter of Credit
Lessee, Lease, Description [Line Items]
Letter of credit	$ 26,100,000
Minimum
Lessee, Lease, Description [Line Items]
Lease, remaining lease term	1 year
Operating sublease, term	1 year
Maximum
Lessee, Lease, Description [Line Items]
Lease, remaining lease term	13 years
Operating sublease, term	10 years

Leases - Future Minimum Lease P

Leases - Future Minimum Lease Payments (Details) $ in Millions	Mar. 31, 2023 USD ($)
Operating leases
Remainder of 2023	$ 68.7
2024	90
2025	84.6
2026	65
2027	65.2
2028	65.2
Thereafter	347.3
Total future minimum lease payments	786
Less imputed interest	(150.4)
Less tenant improvement receivables	(1.2)
Total liability	634.4
Finance leases
Remainder of 2023	95.2
2024	97
2025	59.1
2026	31
2027	2.5
2028	0
Thereafter	0
Total future minimum lease payments	284.8
Less imputed interest	(15.8)
Less tenant improvement receivables	0
Total liability	$ 269

Leases - Future Subtenant Payme

Leases - Future Subtenant Payments Receivable (Details) $ in Millions	Mar. 31, 2023 USD ($)
Leases [Abstract]
Remainder of 2023	$ 12.8
2024	17.3
2025	15.7
2026	12
2027	8.2
2028	7.7
Thereafter	18.7
Total future sublease rent payments	92.4
Less sub-tenant incentive	(1.1)
Total future sublease rent payments, net	$ 91.3

Accrued and Other Current Lia_3

Accrued and Other Current Liabilities (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Payables and Accruals [Abstract]
Non-income taxes payable	$ 77	$ 76.4
Accrued legal and other external fees	34.5	25.5
Other accrued and current liabilities	55.6	38
Total accrued and other current liabilities	$ 167.1	$ 139.9

Stockholders_ Deficit - Common

Stockholders’ Deficit - Common Stock, Convertible Preferred Stock, Preferred Stock - Narrative (Details)	1 Months Ended	3 Months Ended		12 Months Ended
	Dec. 31, 2017 shares	Mar. 31, 2023 vote $ / shares shares	Mar. 31, 2022 shares	Dec. 31, 2022 shares
Class of Stock [Line Items]
Preferred stock, shares authorized (in shares)		240,000,000
Restricted Stock
Class of Stock [Line Items]
Shares granted (in shares)		2,700,000
Co-Founder Grant | Restricted Stock | Chief Executive Officer
Class of Stock [Line Items]
Shares granted (in shares)	10,300,000
Class A common stock
Class of Stock [Line Items]
Votes per share | vote		1
Common stock, shares authorized (in shares)		2,400,000,000
Common stock, par value (in dollars per share) | $ / shares		$ 0.00001
Common stock, shares issued (in shares)		262,000,000		267,200,000
Common stock, shares outstanding (in shares)		262,000,000		267,200,000
Class A common stock | Co-Founder Grant | Restricted Stock | Chief Executive Officer
Class of Stock [Line Items]
Shares granted (in shares)		8,300,000		8,300,000
Class B common stock
Class of Stock [Line Items]
Votes per share | vote		10
Common stock, shares authorized (in shares)		475,000,000
Common stock, par value (in dollars per share) | $ / shares		$ 0.00001
Shares converted in conversion (in shares)		500,000	200,000
Common stock, shares issued (in shares)		81,700,000		82,200,000
Common stock, shares outstanding (in shares)		81,700,000		82,200,000
Class C common stock
Class of Stock [Line Items]
Votes per share | vote		0
Common stock, shares authorized (in shares)		800,000,000
Common stock, par value (in dollars per share) | $ / shares		$ 0.00001
Common stock, shares issued (in shares)		0		0
Common stock, shares outstanding (in shares)		0		0

Stockholders_ Deficit - Stock R

Stockholders’ Deficit - Stock Repurchase Program (Details) - USD ($) shares in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Feb. 28, 2022
Class of Stock [Line Items]
Stock repurchase program, authorized amount			$ 1,200,000,000
Class A
Class of Stock [Line Items]
Stock repurchased and retired during period (in shares)	8.1	11
Stock repurchased and retired during period, aggregate purchase price	$ 176,500,000	$ 259,900,000

Stockholders_ Deficit - Equity

Stockholders’ Deficit - Equity Incentive Plans Narrative (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued and outstanding (in shares)	0.3	0.4
2018 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period	10 years
Remaining unamortized stock-based compensation	$ 724.6
Award requisite period	2 years 8 months 12 days
2018 Plan | Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period	10 years
Vesting period	4 years
Equity Incentive Plans
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued and outstanding (in shares)	32.4
Shares available for grant (in shares)	115.8

Stockholders_ Deficit - Schedul

Stockholders’ Deficit - Schedule of Stock Option and Restricted Stock Activity (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Number of shares available for issuance under the Plans
Beginning balance (in shares)	97.9
Additional shares authorized (in shares)	17.5
Options and restricted stock units and awards canceled (in shares)	1.7
Shares withheld related to net share settlement of restricted stock units and awards (in shares)	1.4
Options and restricted stock units and awards granted (in shares)	(2.7)
Ending balance (in shares)	115.8	97.9
Options Outstanding, Number of shares outstanding under the Plans
Beginning balance (in shares)	0.4
Options exercised and restricted stock units and awards released (in shares)	(0.1)
Ending balance (in shares)	0.3	0.4
Vested at end of period (in shares)	0.3
Unvested at end of period (in shares)	0
Options Outstanding, Weighted- average exercise price per share
Beginning balance (in dollars per share)	$ 11.30
Options exercised and restricted stock units and awards released (in dollars per share)	3.12
Options and restricted stock units and awards canceled (in dollars per share)	15.31
Ending balance (in dollars per share)	12.53	$ 11.30
Vested at end of period (in dollars per share)	12.53
Unvested at end of period (in dollars per share)	$ 0
Options Outstanding, Weighted- average remaining contractual term (In years)
Weighted-average contractual term	4 years 3 months 18 days	4 years 6 months
Vested at end of period	4 years 3 months 18 days
Options outstanding, aggregate intrinsic value	$ 3.3	$ 4.5
Vested at end of period, aggregate intrinsic value	3.3
Unvested at end of period, aggregate intrinsic value	$ 0
Restricted Stock
Restricted Stock Outstanding, Number of shares outstanding under the Plans
Beginning balance (in shares)	34.8
Options exercised and restricted stock units and awards released (in shares)	(3.7)
Options and restricted stock units and awards canceled (in shares)	(1.7)
Options and restricted stock units and awards granted (in shares)	2.7
Ending balance (in shares)	32.1	34.8
Vested at end of period (in shares)	0
Restricted Stock Outstanding, Weighted- average grant date fair value per share
Beginning balance (in dollars per share)	$ 23.40
Options exercised and restricted stock units and awards released (in dollars per share)	23.33
Options and restricted stock units and awards canceled (in dollars per share)	27.14
Options and restricted stock units and awards granted (in dollars per share)	22.43
Ending balance (in dollars per share)	23.15	$ 23.40
Vested at end of period (in dollars per share)	$ 0

Stockholders_ Deficit - Sched_2

Stockholders’ Deficit - Schedule of Pre-Tax Intrinsic Value (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Stockholders' Equity Note [Abstract]
Intrinsic value of options exercised	$ 0.9	$ 1.4

Stockholders_ Deficit - Co-Foun

Stockholders’ Deficit - Co-Founder Grants (Details) - Restricted Stock shares in Millions, $ in Millions	1 Months Ended	3 Months Ended
	Dec. 31, 2017 tranche shares	Mar. 31, 2023 USD ($) shares	Mar. 31, 2022 USD ($)	Dec. 31, 2021 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted (in shares)		2.7
Vesting period		4 years
Awards vesting (in shares)		0
Co-Founder Grant
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period	10 years
Number of tranches | tranche	9
Trading period	30 days
Allocated share-based compensation expense | $		$ 2.2	$ 3.6
Remaining unamortized stock-based compensation | $		$ 7.2
Co-Founder Grant | Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	4 years
Co-Founder Grant | Tranche One | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage vested maximum	20%
Co-Founder Grant | Chief Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted (in shares)	10.3
Awards vesting (in shares)				2.1

Net Income Per Share - Schedule

Net Income Per Share - Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Numerator
Net income attributable to common stockholders	$ 69	$ 79.7
Weighted-average number of common shares outstanding used in computing basic net income per share (in shares)	347.1	370.7
Net income per common share, basic (in dollars per share)	$ 0.20	$ 0.22
Weighted-average number of common shares outstanding used in computing diluted net income per share (in shares)	348.8	372.9
Net income per common share, diluted (in dollars per share)	$ 0.20	$ 0.21
Class A
Numerator
Net income attributable to common stockholders	$ 52.7	$ 61.9
Weighted-average number of common shares outstanding used in computing basic net income per share (in shares)	265.2	288
Net income per common share, basic (in dollars per share)	$ 0.20	$ 0.22
Reallocation of net income as a result of conversion of Class B to Class A common stock	$ 16.3	$ 17.8
Reallocation of net income to Class B common stock	0	0
Net income attributable to common stockholders for diluted EPS	$ 69	$ 79.7
Weighted-average effect of dilutive restricted stock units and awards and employee stock options (in shares)	1.7	2.2
Conversion of Class B to Class A common stock (in shares)	81.9	82.7
Weighted-average number of common shares outstanding used in computing diluted net income per share (in shares)	348.8	372.9
Net income per common share, diluted (in dollars per share)	$ 0.20	$ 0.21
Class B
Numerator
Net income attributable to common stockholders	$ 16.3	$ 17.8
Weighted-average number of common shares outstanding used in computing basic net income per share (in shares)	81.9	82.7
Net income per common share, basic (in dollars per share)	$ 0.20	$ 0.22
Reallocation of net income as a result of conversion of Class B to Class A common stock	$ 0	$ 0
Reallocation of net income to Class B common stock	(0.1)	(0.1)
Net income attributable to common stockholders for diluted EPS	$ 16.2	$ 17.7
Weighted-average effect of dilutive restricted stock units and awards and employee stock options (in shares)	0	0.1
Conversion of Class B to Class A common stock (in shares)	0	0
Weighted-average number of common shares outstanding used in computing diluted net income per share (in shares)	81.9	82.8
Net income per common share, diluted (in dollars per share)	$ 0.20	$ 0.21

Net Income Per Share - Schedu_2

Net Income Per Share - Schedule of Potentially Dilutive Securities Excluded from Computation (Details) - shares shares in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	105.4	97.5
Restricted stock units and awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	21.4	13.3
Options to purchase shares of common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	0.1	0.3
Co-Founder Grant
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	8.3	8.3
Convertible Senior Notes
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	37.8	37.8
Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	37.8	37.8

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Income tax expense (benefit)	$ 18.6	$ 14.1
Increase in unrecognized tax benefits, excluding adjustments	4.2
Unrecognized tax benefits that would impact effective tax rate	3
Unrecognized tax benefit that would result in adjustment to deferred tax assets	1.2
Decrease in unrecognized tax benefits for expiration of statute of limitations	1.2
Increase in unrecognized tax benefits	$ 3

Geographic Areas (Details)

Geographic Areas (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Segment Reporting Information [Line Items]
Property and equipment, net	$ 307.2		$ 308.4
Revenue	611.1	$ 562.4
United States
Segment Reporting Information [Line Items]
Property and equipment, net	299.1		300.2
Revenue	345.9	299.2
International
Segment Reporting Information [Line Items]
Property and equipment, net	8.1		$ 8.2
Revenue	$ 265.2	$ 263.2

Subsequent Events (Details)

Subsequent Events (Details) - Subsequent Event - 2023 Global Workforce Reduction Plan $ in Millions	Apr. 27, 2023 USD ($)
Subsequent Event [Line Items]
Expected reduction of workforce	16%
Minimum
Subsequent Event [Line Items]
Expected costs	$ 37
Maximum
Subsequent Event [Line Items]
Expected costs	$ 42