Spotify Technology S.A. (SPOT)

SPOT Financials

SPOT Quarterly Income Statement (USD)

Quarterly Report	TTM	03/31/2026	12/31/2025	09/30/2025	06/30/2025	03/30/2025	12/31/2024	09/30/2024	06/30/2024
Gross Profit	6.629B	1.727B	1.761B	1.585B	1.556B	1.435B	1.417B	1.381B	1.191B
Revenue	20.514B	5.237B	5.322B	5.013B	4.942B	4.535B	4.393B	4.440B	4.078B
Cost of Goods Sold	13.885B	3.510B	3.561B	3.427B	3.386B	3.100B	2.976B	3.060B	2.887B
Gross Profit Margin	33.0%	33.0%	33.1%	31.6%	31.5%	31.6%	32.2%	31.1%	29.2%
Total Operating Expenses	3.818B	901.150M	937.323M	902.314M	1.077B	884.313M	922.622M	875.172M	906.134M
Research & Development	1.575B	382.411M	340.631M	362.568M	489.152M	410.226M	389.344M	380.800M	405.939M
Selling, General & Administrative	2.243B	518.739M	596.692M	539.746M	588.161M	474.087M	533.277M	494.372M	500.194M
Operating Income (EBIT)	2.811B	826.054M	823.388M	682.896M	478.544M	550.937M	493.929M	505.506M	284.907M
Operating Margin	15.8%	15.8%	15.5%	13.6%	9.7%	12.1%	11.2%	11.4%	7.0%
Income Before Tax (EBT)	3.309B	1.083B	1.199B	970.369M	56.577M	355.024M	516.710M	443.153M	289.192M
Interest Income	271.641M	62.387M	68.126M	69.228M	71.899M	72.520M	65.236M	67.920M	56.767M
Interest Expense	35.126M	8.087M	8.222M	9.387M	9.429M	8.659M	9.319M	10.021M	9.640M
Other Income/Expense	497.856M	256.481M	375.869M	287.473M	-421.967M	-195.913M	22.781M	-62.353M	4.284M
Net Income	3.165B	832.986M	1.379B	1.055B	-101.366M	243.538M	380.025M	334.035M	293.476M
Income Tax Expense	143.298M	249.549M	-179.712M	-84.482M	157.943M	111.486M	136.685M	109.118M	-4.284M
Net Profit Margin	15.9%	15.9%	25.9%	21.0%	-2.1%	5.4%	8.7%	7.5%	7.2%
EBITDA	3.462B	1.121B	1.237B	1.008B	96.652M	392.908M	557.094M	486.578M	330.964M
EBITDA Margin	21.4%	21.4%	23.2%	20.1%	2.0%	8.7%	12.7%	11.0%	8.1%
Depreciation & Amortization	118.209M	30.038M	29.365M	28.161M	30.646M	29.225M	31.065M	33.404M	32.132M
EPS Basic	15.44	4.11	6.71	5.12	-0.50	1.19	1.87	1.66	1.47
EPS Diluted	12.55	4.04	5.16	3.85	-0.50	1.16	1.82	1.61	1.42
Shares Outstanding	205.717M	205.717M	205.772M	205.965M	205.427M	204.468M	202.907M	201.576M	199.959M
Diluted Shares Outstanding	209.280M	209.280M	212.493M	213.790M	205.427M	210.243M	209.013M	207.400M	206.120M

SPOT Annual Income Statement (USD)

Annual Report	12/31/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018
Gross Profit	6.456B	4.892B	3.749B	3.131B	2.949B	2.461B	1.932B	1.548B
Revenue	20.187B	16.229B	14.621B	12.547B	11.006B	9.626B	7.591B	6.019B
Cost of Goods Sold	13.731B	11.338B	10.872B	9.417B	8.056B	7.165B	5.658B	4.470B
Gross Profit Margin	32.0%	30.1%	25.6%	25.0%	26.8%	25.6%	25.5%	25.7%
Total Operating Expenses	3.874B	3.478B	4.242B	3.836B	2.842B	2.819B	2.014B	1.598B
Research & Development	1.636B	1.539B	1.904B	1.484B	1.038B	1.022B	690.171M	564.229M
Selling, General & Administrative	2.238B	1.939B	2.338B	2.352B	1.804B	1.797B	1.324B	1.033B
Operating Income (EBIT)	2.582B	1.413B	-492.272M	-705.090M	107.005M	-357.920M	-81.923M	-49.213M
Operating Margin	12.8%	8.7%	-3.4%	-5.6%	1.0%	-3.7%	-1.1%	-0.8%
Income Before Tax (EBT)	2.612B	1.389B	-557.394M	-395.878M	283.449M	-866.093M	-147.012M	-197.995M
Interest Income	287.775M	230.914M	144.591M	50.287M	12.522M	19.324M	34.295M	28.612M
Interest Expense	36.412M	37.278M	41.943M	43.868M	45.534M	61.382M	47.571M	6.867M
Other Income/Expense	30.539M	-24.852M	-65.121M	309.213M	176.444M	-508.173M	-65.089M	-148.782M
Net Income	2.598B	1.178B	-587.195M	-460.074M	-38.704M	-709.732M	-208.735M	-89.269M
Income Tax Expense	14.095M	210.204M	29.801M	64.196M	322.153M	-156.361M	61.723M	-108.726M
Net Profit Margin	12.9%	7.3%	-4.0%	-3.7%	-0.4%	-7.4%	-2.7%	-1.5%
EBITDA	2.769B	1.551B	-341.059M	-169.051M	473.554M	-664.534M	-1.122M	-154.505M
EBITDA Margin	13.7%	9.6%	-2.3%	-1.3%	4.3%	-6.9%	-0.0%	-2.6%
Depreciation & Amortization	119.808M	125.294M	174.393M	182.960M	144.570M	135.594M	97.634M	36.623M
EPS Basic	12.65	5.87	-3.01	-2.39	-0.20	-3.79	-1.16	-0.50
EPS Diluted	12.34	5.70	-3.01	-3.13	-1.17	-3.79	-1.16	-0.58
Shares Outstanding	205.413M	200.623M	194.732M	192.935M	191.298M	187.583M	180.961M	177.154M
Diluted Shares Outstanding	210.509M	206.990M	194.732M	195.846M	193.943M	187.583M	180.961M	181.210M

Values are displayed in USD. Negative numbers shown in red.

Values are displayed in USD. Negative numbers are shown in red.

About Spotify Technology S.A.

Spotify Technology S.A., through its various entities, functions as a global provider of audio streaming services. Its operational model is split into two distinct segments: Premium and Ad-Supported. The Premium segment caters to subscribers by granting them uninterrupted, ad-free access to its extensive catalog of music and podcasts, available for both online and offline consumption. Conversely, the Ad-Supported segment delivers online, on-demand music streaming and unlimited podcast access to users, facilitated by advertisements and available across computers, tablets, and various mobile devices. Beyond its core streaming offerings, Spotify also manages functions like sales, marketing, outsourced research and development, and comprehensive customer support. By the end of 2021 (December 31), the platform had amassed a significant global user base, comprising 406 million monthly active users and 180 million premium subscribers spanning 184 nations and regions. Incorporated in 2006, the firm's corporate headquarters are situated in Luxembourg, Luxembourg.

Luxembourg City

7,258 employees

www.spotify.com

Communication Services / Internet Content & Information

Sector: Communication Services
Industry: Internet Content & Information
CEO: Alex Norström

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