Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>Dropbox, Inc. reported second quarter 2026 revenue of $631.5 million, up 0.9% year-over-year, or 1.7% excluding FormSwift.</li><li>The company added about 96,000 paying users, its third consecutive quarter of growth, bringing total paying users to 18.19 million.</li><li>Annual recurring revenue rose 1% to $2.566 billion, or 1.7% excluding FormSwift, indicating early signs of renewed momentum after stagnation.</li></ul>

Dropbox, Inc. reported second quarter 2026 revenue of $631.5 million, up 0.9% year-over-year, or 1.7% excluding FormSwift.The company added about 96,000 paying users, its third consecutive quarter of growth, bringing total paying users to 18.19 million.Annual recurring revenue rose 1% to $2.566 billion, or 1.7% excluding FormSwift, indicating early signs of renewed momentum after stagnation.

Dropbox’s Hidden AI Engine — 150,000 Users Are Already Connecting Claude & ChatGPT!

<ul><li>Dropbox, Inc. reported first quarter 2026 results reflecting modest revenue growth and operational improvements amidst ongoing efforts to revitalize its core business and develop new AI-driven products.</li><li>The company achieved revenue of $629 million, marking an 0.8% year-over-year increase, or 2% growth excluding the FormSwift acquisition, which negatively impacted revenue comparisons by approximately 1.2 percentage points.</li><li>Total annual recurring revenue (ARR) was $2.56 billion, up 0.3% year-over-year and 1.3% when excluding FormSwift.</li></ul>

Dropbox, Inc. reported first quarter 2026 results reflecting modest revenue growth and operational improvements amidst ongoing efforts to revitalize its core business and develop new AI-driven products.The company achieved revenue of $629 million, marking an 0.8% year-over-year increase, or 2% growth excluding the FormSwift acquisition, which negatively impacted revenue comparisons by approximately 1.2 percentage points.Total annual recurring revenue (ARR) was $2.56 billion, up 0.3% year-over-year and 1.3% when excluding FormSwift.

Dropbox Goes All-In On AI Content Management — Can Dash Expand Beyond Teams?

<ul><li>Dropbox, Inc. is entering one of the most important transitions in its 19-year history, with co-founder and CEO Andrew Houston stepping down from the top role and moving into the position of executive chairman.</li><li>Ashraf Alkarmi, who joined the company in November 2024 and currently leads the core business, will take over as CEO after a co-CEO transition period.</li><li>The move is more than a routine leadership change.</li></ul>

Dropbox, Inc. is entering one of the most important transitions in its 19-year history, with co-founder and CEO Andrew Houston stepping down from the top role and moving into the position of executive chairman.Ashraf Alkarmi, who joined the company in November 2024 and currently leads the core business, will take over as CEO after a co-CEO transition period.The move is more than a routine leadership change.

Dropbox’s Founder Steps Back From CEO Role—Is This The End Of An Era?

<ul><li>Dropbox has reported its fourth quarter 2025 earnings, revealing a period of strategic adjustments aimed at stabilizing and returning to growth.</li><li>The company displayed strong revenue outcomes, with figures surpassing expectations, despite the impact of winding down FormSwift.</li><li>Critically, constant currency revenue remained flat for the quarter and year, signaling resilience amid transitional phases.</li></ul>

Dropbox has reported its fourth quarter 2025 earnings, revealing a period of strategic adjustments aimed at stabilizing and returning to growth.The company displayed strong revenue outcomes, with figures surpassing expectations, despite the impact of winding down FormSwift.Critically, constant currency revenue remained flat for the quarter and year, signaling resilience amid transitional phases.

Dropbox: Expanding Beyond Storage With Dash, AI, and Smarter Monetization!

<ul><li>Dropbox's recent earnings demonstrated a mixed bag of outcomes, highlighting both the opportunities and challenges the company currently faces.</li><li>On the positive side, Dropbox reported better-than-expected retention rates across its individual and self-serve teams, which contributed to the company's revenue surpassing its guidance in constant currency terms.</li><li>Non-GAAP operating margins improved significantly year-over-year, showcasing the company's focus on operational efficiency and cost management.</li></ul>

Dropbox's recent earnings demonstrated a mixed bag of outcomes, highlighting both the opportunities and challenges the company currently faces.On the positive side, Dropbox reported better-than-expected retention rates across its individual and self-serve teams, which contributed to the company's revenue surpassing its guidance in constant currency terms.Non-GAAP operating margins improved significantly year-over-year, showcasing the company's focus on operational efficiency and cost management.

Dropbox Is Powering Up Its AI + Self-Serve Growth Flywheel — But Can It Convert This Momentum Into Sustained Market Dominance?

United States

Dropbox, Inc. operates as a platform as a service company. The Company offers a platform that enables users to store and share files, photos, videos, songs, and spreadsheets. Dropbox serves customers worldwide.

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Dropbox Inc (DBX US)

Dropbox’s Hidden AI Engine — 150,000 Users Are Already Connecting Claude & ChatGPT!

Dropbox, Inc. reported second quarter 2026 revenue of $631.5 million, up 0.9% year-over-year, or 1.7% excluding FormSwift. The company added about...

Baptista Research

Dropbox Goes All-In On AI Content Management — Can Dash Expand Beyond Teams?

Dropbox, Inc. reported first quarter 2026 results reflecting modest revenue growth and operational improvements amidst ongoing efforts to...

Baptista Research

Dropbox’s Founder Steps Back From CEO Role—Is This The End Of An Era?

Dropbox, Inc. is entering one of the most important transitions in its 19-year history, with co-founder and CEO Andrew Houston stepping down from...

Baptista Research

Dropbox: Expanding Beyond Storage With Dash, AI, and Smarter Monetization!

Dropbox has reported its fourth quarter 2025 earnings, revealing a period of strategic adjustments aimed at stabilizing and returning to...

Baptista Research

Dropbox Is Powering Up Its AI + Self-Serve Growth Flywheel — But Can It Convert This Momentum Into Sustained Market Dominance?

Dropbox's recent earnings demonstrated a mixed bag of outcomes, highlighting both the opportunities and challenges the company currently faces. On...

Baptista Research

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