Cash flow from operations increased 13% to $261 million, with unlevered free cash flow of $276 million or $1.00 per share.
Dropbox reported Q2 2025 revenue of $626 million, a 1.4% year-over-year decline, impacted by strategic scaling back of FormSwift and reduced outbound sales support.
Dropbox repurchased approximately 14 million shares for $400 million in Q2, with $470 million remaining under the current authorization.
Non-GAAP net income was $198 million, up 2% year-over-year, with diluted EPS of $0.71, an 18% increase from the prior year quarter.
Operating margin was 41.5%, exceeding guidance by 400 basis points and up 560 basis points year-over-year, driven by headcount reductions and lower marketing spend.
Total ARR was $2.542 billion, down 1.2% year-over-year, with FormSwift contributing a 160 basis point headwind.
Adjusted diluted EPS was $0.18, impacted by divestitures and disposals.
Adjusted EBITDA margin for H1 2025 increased 50 basis points to 41%, driven by internal cost efficiencies.
Capital allocation included $50 million free cash flow used for share repurchases totaling $100 million in H1, reducing net debt.
Clarivate reported solid Q2 2025 financial performance with organic ACV growth of 1.3% year-over-year and a 40 basis point improvement from end of 2024.
Debt refinancing extended maturity by 5 years, with a swap to fixed interest rate, increasing annual cash interest by $7 million but favorable in current rate environment.
Free cash flow was $50 million in Q2 and $161 million for the first half of 2025.
Operating cash flow was $116 million in Q2, with $18 million of onetime restructuring costs related to the Value Creation Plan.
Q2 revenue was $621 million, with a net loss of $72 million, improved from prior year due to absence of noncash impairment charges.
Total organic revenue grew 0.5% in Q2, with recurring organic revenue growing nearly 1%.
Dafinchi