Dropbox, Inc.

Thank you for standing by and welcome to Dropbox's second quarter 2026 earnings conference call. Currently, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you will need to press star 1 1 on your telephone. To remove yourself from the queue, you may press star 1 1 again. I would now like to hand the call over to Sarah Schubach, Chief Accounting Officer. and the head of investor relations. Please go ahead.

Good afternoon and welcome to Dropbox's second quarter 2026 earnings call. As a reminder, we will discuss non-GAAP financial measures on this call. Definitions and reconciliations between our GAAP and non-GAAP results can be found in our earnings release and our earnings presentation posted on our IR website at investors.dropbox.com. We will also make forward-looking statements on this call including statements about our future outlook for our third quarter and fiscal year 2026 as well as our expectations regarding our business, assets, strategies, and the macroeconomic environment. Such statements are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those described. Many of those risks and uncertainties are described in our SEC filings including our most recent report on Form 10-Q and forthcoming report on Form 10-Q. Forward-looking statements represent our beliefs and assumptions only as of the date such statements are made. We disclaim any obligation to update any forward-looking statements except as required by law. I will now turn the call over to Dropbox's co-founder and co-CEO, Drew Houston.

Thank you, Sarah, and good afternoon, everyone. Before I turn it over to Ashraf, I want to briefly address the CEO transition we announced in May. Ashraf and I are currently serving as co-CEOs, and after this transition period, I'll become executive chairman and Ashraf will become sole CEO. We're taking a deliberate approach to the handoff and I'll remain deeply engaged as executive chairman. I want to say a word about why I have so much confidence in Ashraf. When he took over our core business, there were real questions about whether we could change our trajectory. He made a series of difficult calls and the business has gotten stronger every quarter since. He's built a strong leadership team and brought a level of operating rigor that has made this company better. You'll hear the results directly from him in a moment. The next phase for Dropbox is about execution and turning the progress we've made into consistent, durable growth. Ashraf's the right leader for our next chapter, and I'm looking forward to supporting him and the team. With that, I'll turn it over to Ashraf.