Dolby Laboratories, Inc. income statement
In fiscal 2025, Dolby Laboratories, Inc. reported revenue of $1.35bn, up 5.9% on the year before, operating income of $265m (a 19.6% margin) and net income of $255m, or $2.62 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2009Sept 2009 | 2010Sept 2010 | 2011Sept 2011 | 2012Sept 2012 | 2013Sept 2013 | 2014Sept 2014 | 2015Sept 2015 | 2016Sept 2016 | 2017Sept 2017 | 2018Sept 2018 | 2019Sept 2019 | 2020Sept 2020 | 2021Sept 2021 | 2022Sept 2022 | 2023Sept 2023 | 2024Sept 2024 | 2025Sept 2025 | LTMJun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 720 | 923 | 961 | 933 | 910 | 960 | 971 | 1,026 | 1,080 | 1,055 | 1,242 | 1,162 | 1,281 | 1,254 | 1,300 | 1,274 | 1,349 | 1,354 |
| Cost of revenue | 65 | 132 | 111 | 92 | 97 | 70 | 95 | 109 | 119 | 128 | 161 | 146 | 130 | 141 | 153 | 140 | 160 | 168 |
| Gross profit | 655 | 791 | 850 | 841 | 813 | 890 | 876 | 917 | 962 | 927 | 1,081 | 1,015 | 1,151 | 1,112 | 1,147 | 1,133 | 1,189 | 1,187 |
| Research and development | 82 | 105 | 124 | 140 | 169 | 183 | 201 | 220 | 233 | 237 | 238 | 239 | 254 | 261 | 272 | 264 | 262 | 266 |
| Selling and marketing | 99 | 130 | 155 | 188 | 231 | 253 | 279 | 295 | 297 | 310 | 344 | 336 | 333 | 359 | 354 | 334 | 361 | 363 |
| General and administrative | 106 | 119 | 138 | 149 | 162 | 178 | 182 | 169 | 172 | 197 | 205 | 220 | 224 | 275 | 258 | 270 | 287 | 295 |
| Operating income | 364 | 429 | 430 | 362 | 245 | 274 | 213 | 232 | 247 | 184 | 257 | 219 | 344 | 207 | 216 | 258 | 265 | 239 |
| Interest expense | 1 | 1 | −1 | 0 | 1 | −0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | — | — | — | — |
| Net interest income | — | — | — | — | — | — | — | — | — | — | — | — | 3 | 6 | 28 | 34 | 15 | — |
| Income before tax | 371 | 437 | 441 | 369 | 251 | 276 | 246 | 236 | 255 | 196 | 282 | 240 | 355 | 215 | 250 | 312 | 303 | 277 |
| Income tax | 127 | 154 | 130 | 104 | 60 | 67 | 63 | 50 | 48 | 154 | 27 | 8 | 37 | 31 | 48 | 48 | 47 | 49 |
| Net income | 243 | 283 | 309 | 264 | 189 | 206 | 181 | 186 | 206 | 42 | 255 | 231 | 310 | 184 | 201 | 262 | 255 | 226 |
| Diluted EPS | $2.11 | $2.46 | $2.75 | $2.46 | $1.84 | $1.99 | $1.75 | $1.81 | $2.00 | $0.39 | $2.44 | $2.25 | $2.97 | $1.81 | $2.05 | $2.69 | $2.62 | $2.35 |
| Diluted shares (average) | 115m | 115m | 113m | 108m | 103m | 104m | 104m | 102m | 103m | 107m | 105m | 103m | 105m | 102m | 98m | 97m | 97m | 96m |
| EBITDA | 392 | 464 | 474 | 406 | 299 | 327 | 282 | 317 | 331 | 265 | 342 | 310 | 440 | 295 | 298 | 334 | 353 | 332 |
| Quarter | 2024 Q4Sept 2024 | 2025 Q1Dec 2024 | 2025 Q2Mar 2025 | 2025 Q3Jun 2025 | 2025 Q4Sept 2025 | 2026 Q1Dec 2025 | 2026 Q2Mar 2026 | 2026 Q3Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 305 | 357 | 370 | 316 | 307 | 347 | 396 | 305 |
| Cost of revenue | 34 | 41 | 36 | 44 | 40 | 43 | 45 | 40 |
| Gross profit | 271 | 316 | 334 | 272 | 268 | 303 | 351 | 265 |
| Research and development | 69 | 67 | 62 | 66 | 67 | 69 | 64 | 66 |
| Selling and marketing | 88 | 94 | 90 | 86 | 91 | 92 | 96 | 85 |
| General and administrative | 69 | 70 | 70 | 72 | 74 | 70 | 76 | 76 |
| Operating income | 46 | 80 | 108 | 48 | 30 | 62 | 113 | 34 |
| Income before tax | 60 | 86 | 120 | 56 | 42 | 72 | 120 | 44 |
| Income tax | 1 | 18 | 28 | 9 | −8 | 18 | 24 | 15 |
| Net income | 59 | 68 | 92 | 46 | 49 | 53 | 95 | 29 |
| Diluted EPS | $0.60 | $0.70 | $0.94 | $0.48 | $0.51 | $0.55 | $0.99 | $0.30 |
| EBITDA | 68 | 102 | 129 | 70 | 52 | 86 | 137 | 57 |
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