Dolby Laboratories is a global audio and imaging technology company whose fiscal 2025 results show a business weighted toward licensing. The figures below cover fiscal years 2023–2025 and the balance-sheet position at September 26, 2025, with historical Dolby Cinema adoption data kept separate from current financial measures.
Key Dolby Statistics
The most useful headline figures are:
- $1.349 billion in total revenue was reported by Dolby Laboratories worldwide for fiscal 2025.
- $1.248 billion in licensing revenue was generated worldwide in fiscal 2025.
- 93% of total revenue came from licensing worldwide in fiscal 2025.
- $428.5 million of broadcast licensing revenue was recorded worldwide in fiscal 2025.
- $268.6 million of mobile licensing revenue was recorded worldwide in fiscal 2025.
- $150.7 million of consumer-electronics licensing revenue was recorded worldwide in fiscal 2025.
- $497.0 million of revenue came from the United States in fiscal 2025.
- 26% of total revenue was attributed to China in fiscal 2025.
- $1.189 billion in gross profit was reported worldwide in fiscal 2025.
- $265.0 million in operating income was reported worldwide in fiscal 2025.
- $255.0 million in net income attributable to Dolby was reported worldwide in fiscal 2025.
- $261.8 million in research and development expense was recorded worldwide in fiscal 2025.
- $701.9 million in cash and cash equivalents was held by Dolby Laboratories at September 26, 2025.
- $3.228 billion in total assets was reported at September 26, 2025.
- Approximately 1,000 electronic-device manufacturers were enabled by Dolby branded technology and patent licenses globally in fiscal 2025.
- More than 330 theatrical titles mastered in Dolby Vision and Dolby Atmos had been released in Dolby Cinema by the Dolby historical timeline’s stated milestone.
Contents
- Revenue, licensing scale and Dolby trends
- Dolby licensing statistics by market
- Dolby revenue data by geography
- Profitability, research and shareholder measures
- Assets, liquidity and financial position
- Technology adoption and Dolby Cinema milestones
Revenue, Licensing Scale and Dolby Trends
Dolby’s consolidated worldwide revenue increased from $1.300 billion in fiscal 2023 to $1.274 billion in fiscal 2024 and then to $1.349 billion in fiscal 2025. These are company results for fiscal years ending September 29, 2023, September 27, 2024 and September 26, 2025.
| Fiscal year | Total revenue | Licensing revenue | Products and services revenue |
|---|---|---|---|
| 2023 | $1.300 billion | $1.165 billion | $101.8 million |
| 2024 | $1.274 billion | $1.182 billion | $91.9 million |
| 2025 | $1.349 billion | $1.248 billion | $101.1 million |
Source: Dolby Laboratories, Inc. 2025 Annual Report (Form 10-K).
Licensing generated 93% of total revenue in both fiscal 2025 and fiscal 2024. The filing also states that more than 90% of revenue came from licensing branded technology and patents in fiscal 2025; the exact percentage in that broader statement is not specified.
Licensing revenue increased 6% year over year in fiscal 2025, reaching $1.248 billion from $1.182 billion. Licensing includes branded technologies, patents and related licensing revenue, while products and services are reported separately.
The filing notes that a significant portion of licensing revenue is based on estimates of licensee shipments and is later adjusted when reported shipment data arrives. These are reported accounting results, not direct counts of devices or end users.
Dolby Licensing Statistics by Market
Dolby’s fiscal 2025 licensing mix was led by broadcast, mobile and consumer electronics. The market categories below are Dolby’s reporting categories and describe worldwide licensing revenue.
| Market | Fiscal 2025 licensing revenue | Share where supplied |
|---|---|---|
| Broadcast | $428.5 million | 34% |
| Mobile | $268.6 million | 22% |
| Consumer electronics | $150.7 million | 12% |
| Gaming | $58.0 million | Not supplied |
| PC | $78.9 million | Not supplied |
| Other | $262.4 million | Residual category |
Source: Dolby Laboratories, Inc. 2025 Annual Report (Form 10-K).
Broadcast licensing rose from $409.1 million, or 35% of licensing revenue, in fiscal 2024 to $428.5 million, or 34%, in fiscal 2025. Mobile licensing increased from $235.8 million, or 20%, to $268.6 million, or 22% over the same fiscal-year comparison.
Consumer-electronics licensing moved in the opposite direction, declining from $165.8 million, or 14% of licensing revenue, in fiscal 2024 to $150.7 million, or 12%, in fiscal 2025. The shift in percentages should be read as a mix measure, not as a measure of consumer ownership or usage.
Cost of licensing rose from $67.2 million in fiscal 2024 to $83.6 million in fiscal 2025. Licensing gross profit was $1.164 billion in fiscal 2025, defined in the filing as licensing revenue less cost of licensing.
Dolby Revenue Data by Geography
Dolby reported $497.0 million of U.S. revenue and $852.1 million of international revenue for fiscal 2025. International revenue was $823.5 million in fiscal 2024, but the geographic allocation is not a direct measure of where end consumers live.
| Geography or region | Fiscal 2025 measure | Fiscal 2024 measure where supplied |
|---|---|---|
| United States | $497.0 million; 37% of total revenue | Not supplied |
| International | $852.1 million | $823.5 million |
| China | 26% of total revenue | 22% |
| South Korea | 12% of total revenue | 13% |
| Japan | 7% of total revenue | Not supplied |
| Europe | 9% of total revenue | Not supplied |
Source: Dolby Laboratories, Inc. 2025 Annual Report (Form 10-K).
China accounted for 26% of total revenue in fiscal 2025, compared with 22% in fiscal 2024. The United States represented 37%, South Korea 12%, Japan 7% and Europe 9% of fiscal 2025 total revenue.
The filing uses different geographic definitions by revenue type: licensing is assigned to the licensee’s headquarters, products use shipment destination and services use service location. Therefore, these figures describe revenue concentration rather than end-consumer adoption.
At September 26, 2025, U.S. long-lived tangible assets were $374.7 million, net of accumulated depreciation, while international long-lived tangible assets were $95.9 million.
Profitability, Research and Shareholder Measures
Dolby’s fiscal 2025 worldwide results included $1.189 billion in gross profit, $265.0 million in operating income and $255.0 million in net income attributable to Dolby. The net-income figure excludes net income attributable to noncontrolling interest.
| Fiscal 2025 measure | Reported amount |
|---|---|
| Gross profit | $1.189 billion |
| Operating income | $265.0 million |
| Net income attributable to Dolby | $255.0 million |
| Total operating expenses | $924.0 million |
| Diluted EPS | $2.62 |
| Declared cash dividend per common share | $1.32 |
Source: Dolby Laboratories, Inc. 2025 Annual Report (Form 10-K).
Research and development expense was $261.8 million, or 19% of revenue, in fiscal 2025. Sales and marketing expense was $360.7 million, general and administrative expense was $286.5 million, and restructuring charges were $15.0 million.
Weighted-average diluted shares outstanding were 97.479 million in fiscal 2025. Dolby declared a $1.32 cash dividend per common share, while diluted earnings per share were $2.62; neither measure is a total shareholder-return calculation.
Assets, Liquidity and Financial Position
Dolby held $701.9 million in cash and cash equivalents at September 26, 2025. Total current assets were $1.388 billion and total assets were $3.228 billion at that balance-sheet date.
| Balance-sheet item | September 26, 2025 |
|---|---|
| Cash and cash equivalents | $701.9 million |
| Total current assets | $1.388 billion |
| Property, plant and equipment, net | $470.6 million |
| Intangible assets, net | $397.1 million |
| Goodwill | $529.9 million |
| Total liabilities | $595.8 million |
Source: Dolby Laboratories, Inc. 2025 Annual Report (Form 10-K).
Accounts receivable, net, were $331.1 million, including a $7.221 million allowance for credit losses. Contract assets, net, were $180.8 million, and long-term investments were $80.2 million.
The reported property, plant and equipment, intangible assets and long-lived tangible-asset figures are balance-sheet measures, net where stated. They should not be interpreted as estimates of Dolby’s technology value or the retail value of products carrying Dolby features.
Technology Adoption and Dolby Cinema Milestones
Dolby said its branded technology and patent licenses enabled approximately 1,000 electronic-device manufacturers globally in fiscal 2025. This is a company-reported approximate partner count, not a count of consumer devices, installations or users.
The company’s fiscal 2025 business overview also indicates that more than 90% of revenue came from licensing branded technology and patents. That statement supports the importance of licensing to Dolby’s business model, but it does not quantify the number of licensed products or active consumers.
A separate Dolby historical timeline records that more than 330 theatrical titles mastered in Dolby Vision and Dolby Atmos had been released in Dolby Cinema by the milestone stated in that timeline. This is a historical milestone, not a current annual release count.
Source: Theater: A Century of Innovation.
The manufacturer estimate and the historical title count are not independent market-share studies. They provide scale indicators for Dolby’s technology and cinema ecosystem, while the annual-report figures provide consolidated financial and geographic measures.