Dolby Laboratories, Inc.
Financial Performance
Dolby Revenue & Financials
Revenue
$1.3B (FY2025)
Market Cap
$5.8B
Net Income
$255M
Employees
2,051
What is Dolby's revenue?
Dolby had $1.3B in revenue for fiscal year 2025, up 5.9% from 2024. Net income was $255M.
- Latest revenue
- $1.3B (FY2025)
- Year-over-year
- +5.9%
- Growth rate (CAGR)
- 3.1% over 9 years
- Peak revenue
- $1.3B (FY2025)
- Years of data
- 10
- Employees
- 2,051
- What is Dolby's operating income?
- Dolby reported operating income of $265M for fiscal year 2025. sec.gov
- How much profit does Dolby make?
- Dolby reported net income of $255M for fiscal year 2025. data.sec.gov
- How many employees does Dolby have?
- Dolby has about 2,051 employees.
Financial Analysis
Dolby is a high-margin licensing business. FY2025 revenue was $1.349 billion (FY2024: $1.274 billion), GAAP net income was $255 million ($2.62 per diluted share), and non-GAAP net income was $414 million ($4.24 per share). In Q3 FY2026 (quarter ended June 2026) revenue was $305 million and GAAP net income was $29 million ($0.30 per share). Management guided FY2026 revenue to $1.41-$1.44 billion, with licensing at $1.31-$1.34 billion. Dolby returns cash through dividends and buybacks and carries no significant debt. Dolby Laboratories is a pioneer in audio and imaging technologies, holding a solid market valuation generally over $7 billion.
Revenue Trend Analysis
YoY Change
+5.9%
9-Year CAGR
+3.1%
Peak Year
2025
Trend
Mostly Growing
Dolby Laboratories, Inc. has 10 full fiscal year figures on this page, compounding at +3.1% annually over 9 years. The most recent year saw a 5.9% increase versus the prior year. Annual revenue peaked in fiscal year 2025 at $1.3B. Of 9 comparable year-over-year steps, 5 showed growth and 4 showed a decline.
Annual revenue history
| Fiscal Year | Revenue | Operating Income | Net Income | YoY Change | Source |
|---|---|---|---|---|---|
| FY2025 | $1.3B | $265Mfiling | $255M | +5.9% | data.sec.gov Revenue increased to $1.349 billion in FY2025, with GAAP net income of $255 million. |
| FY2024 | $1.3B | $258.3Mfiling | — | -2.0% | data.sec.gov Revenue was $1.274 billion in FY2024 before rebounding in FY2025. |
| FY2023 | $1.3B | $215.8Mfiling | — | +3.7% | data.sec.gov Revenue reached $1.300 billion in FY2023 as Dolby Atmos and Dolby Vision adoption broadened across devices and content ecosystems. |
| FY2022 | $1.3B | $206.6Mfiling | — | -2.1% | data.sec.gov Dolby reported $1.254 billion in FY2022 revenue as licensing recovered from pandemic-era device and cinema disruptions. |
| FY2021 | $1.3B | $344.4M | $310.2M | +10.3% | Dolby Laboratories, Inc. annual report (Form 10-K, SEC EDGAR, filed 2023-11-17) Fiscal year ended 2021-09-24. |
| FY2020 | $1.2B | $218.7M | $231.4M | -6.4% | Dolby Laboratories, Inc. annual report (Form 10-K, SEC EDGAR, filed 2022-11-18) Fiscal year ended 2020-09-25. |
| FY2019 | $1.2B | $257.1M | $255.2M | +17.7% | Dolby Laboratories, Inc. annual report (Form 10-K, SEC EDGAR, filed 2021-11-17) Fiscal year ended 2019-09-27. |
| FY2018 | $1.1B | $183.5Mfiling | $41.7M | -2.4% | Dolby Laboratories, Inc. annual report (Form 10-K, SEC EDGAR, filed 2019-11-25) Fiscal year ended 2018-09-28. |
| FY2017 | $1.1B | $247.1M | $206.5M | +5.3% | Dolby Laboratories, Inc. annual report (SEC EDGAR, filed 2019-11-25) Fiscal year ended 2017-09-29. Figure as presented in the annual report filed 2019-11-25. |
| FY2016 | $1B | $231.8Mfiling | $185.9M | — | Dolby Laboratories, Inc. annual report (SEC EDGAR, filed 2017-11-16) Fiscal year ended 2016-09-30. Figure as presented in the annual report filed 2017-11-16. |
Click any row to see year details.
Dolby Laboratories, Inc. balance sheet and cash flow
Balance-sheet figures are as of each fiscal year end; cash-flow figures cover the fiscal year. Taken from the company's annual report on Form 10-K, linked on each row. Free cash flow here is operating cash flow less capital expenditures, calculated by CorpDigest.
| Fiscal Year | Operating cash flow | Capital expenditures | Total assets | Total liabilities | Shareholders' equity | Free cash flow | Source |
|---|---|---|---|---|---|---|---|
| FY2025ended Sep 26, 2025 | $472.2M | $36.3M | $3.2B | $595.8M | $2.6B | $435.9M | Form 10-K |
| FY2024ended Sep 27, 2024 | $327.3M | $30M | $3.1B | $623M | $2.5B | $297.2M | Form 10-K |
| FY2023ended Sep 29, 2023 | $367.1M | $30.3M | $3B | $607.6M | $2.4B | $336.7M | Form 10-K |
| FY2022ended Sep 30, 2022 | $318.6M | $47.9M | $2.7B | $438.5M | $2.2B | $270.6M | Form 10-K |
| FY2021ended Sep 24, 2021 | $447.8M | $54.5M | $3.1B | $501.5M | $2.6B | $393.3M | Form 10-K |
| FY2020ended Sep 25, 2020 | $343.8M | $66.3M | $2.9B | $478.9M | $2.4B | $277.5M | Form 10-K |
| FY2019ended Sep 27, 2019 | $327.7M | $96.3M | $2.8B | $508.7M | $2.3B | $231.4M | Form 10-K |
| FY2018ended Sep 28, 2018 | $352.2M | $72.8M | $2.9B | $494.9M | $2.4B | $279.4M | Form 10-K |
| FY2017ended Sep 29, 2017 | $377.8M | $99.6M | $2.5B | $389.7M | $2.1B | $278.2M | Form 10-K |
| FY2016ended Sep 30, 2016 | $360.1M | $100.8M | $2.3B | $331.4M | $2B | $259.3M | Form 10-K |
Keep researching Dolby
Dolby Revenue and Financial FAQ
What is Dolby Laboratories' annual revenue and net income?
Dolby Laboratories, Inc. reported revenue of $1.35 billion for fiscal year 2025, up from $1.27 billion in fiscal 2024.
What is Dolby's balance sheet structure and debt profile?
Dolby maintains an exceptionally strong, pristine balance sheet with zero funded long-term debt and substantial cash, cash equivalents, and marketable securities exceeding $700 million to $900 million.
What is Dolby's dividend track record and share repurchase program?
Dolby is committed to returning excess capital to shareholders, paying a growing quarterly cash dividend for over a decade alongside systematic annual share repurchase programs that reduce share count and offset employee equity grants.
How does macroeconomic consumer electronics demand affect Dolby's financials?
Because Dolby earns per-unit royalties on TVs, PCs, and smartphones shipped globally, its revenue correlates with global consumer electronics replacement cycles, with downturns in PC or smartphone sales partially offset by expansion in automotive and streaming.
How much does Dolby invest in Research and Development (R&D)?
Dolby invests heavily in innovation, directing approximately 18% to 22% of annual revenue ($240M to $280M+) into R&D to advance psychoacoustics, computer vision, spatial audio algorithms, and neural audio compression codecs.
What percentage of Dolby's revenue is generated internationally outside the US?
Approximately 60% to 65% of Dolby's total licensing revenue is generated internationally outside the United States, reflecting global manufacturing hubs in China, South Korea, Japan, Taiwan, and Europe.
What is Dolby's patent portfolio size and licensing lifecycle?
Dolby holds more than 14,000 issued patents and pending patent applications worldwide. As older patents expire, Dolby continually replenishes its IP portfolio with next-generation standards (such as Dolby Atmos, AC-4, and Dolby Vision dynamic metadata).
How does Dolby audit licensee compliance and royalty reporting?
Dolby maintains a dedicated contractual compliance and licensing audit program, routinely auditing global hardware manufacturers' shipment reports to ensure accurate reporting and recovery of underpaid technology licensing royalties.
Is Dolby profitable?
Yes, incredibly profitable. Because their revenue is generated by licensing software algorithms and patents rather than building physical hardware, their gross margins are astronomically high, generating massive, highly predictable free cash flow.
Cite or embed this data
Using these figures? Please credit CorpDigest with a link.
CorpDigest. "Dolby Revenue & Financials." CorpDigest, https://corpdigest.com/company/dolby/financials.<div style="font-family:system-ui,sans-serif;font-size:14px;line-height:1.5;border:1px solid #e2e8f0;border-radius:8px;padding:12px 16px;max-width:520px"><strong>Dolby reported $1.3B in revenue (FY2025).</strong><br>Source: <a href="https://corpdigest.com/company/dolby/financials" target="_blank" rel="noopener">CorpDigest — Dolby financials</a></div>Related Financial Audits
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