Spotify Technology S.A. (SPOT)

SPOT Cash Flow Statement

Operating, investing, and financing cash flow analysis

SPOT Quarterly Cash Flow 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
Cash from Operations (CFO)	3.796B	981.731M	1.005B	972.715M	835.684M	583.408M	914.338M	796.117M	526.971M
Net Income	3.165B	832.986M	1.379B	1.055B	-101.366M	243.538M	380.025M	334.035M	293.476M
Depreciation & Amortization	118.209M	30.038M	29.365M	28.161M	30.646M	29.225M	31.065M	33.404M	32.132M
Stock-Based Compensation	240.997M	0.00	66.952M	88.002M	86.044M	45.460M	55.916M	70.147M	86.757M
Change in Accounts Receivable	2.680B	535.471M	941.620M	601.508M	601.147M	573.585M	559.155M	599.649M	582.954M
Change in Inventory	—	—	—	—	—	—	—	—	—
Change in Accounts Payable	—	—	—	—	—	—	—	—	—
Change in Working Capital	418.848M	34.055M	28.190M	118.509M	238.093M	-85.509M	260.943M	128.047M	99.610M
Cash from Investing	—	—	—	—	—	—	—	—	—
Capital Expenditures (CapEx)	-70.487M	-5.872M	-25.841M	-26.987M	-11.787M	-6.494M	-6.213M	-4.454M	-2.142M
Acquisitions	-12.929M	0.00	-10.571M	0.00	-2.357M	-7.577M	0.00	0.00	-3.213M
Cash from Financing	—	—	—	—	—	—	—	—	—
Debt Repayment	—	—	—	—	—	—	—	—	—
Stock Repurchased (Buybacks)	-806.860M	-359.342M	-447.519M	0.00	0.00	0.00	-44.526M	-38.971M	-34.275M
Dividends Paid	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Free Cash Flow (FCF)	3.725B	975.859M	979.608M	945.728M	823.897M	576.914M	908.125M	791.663M	524.829M
Net Change in Cash	160.046M	-120.899M	-232.569M	346.141M	167.373M	257.609M	96.301M	705.927M	645.861M

SPOT Annual Cash Flow 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
Cash from Operations (CFO)	3.445B	2.383B	750.550M	49.217M	410.944M	316.387M	643.038M	393.701M
Net Income	2.598B	1.178B	-587.195M	-460.074M	-38.704M	-709.732M	-208.735M	-89.269M
Depreciation & Amortization	119.808M	125.294M	174.393M	182.960M	144.570M	135.594M	97.634M	36.623M
Stock-Based Compensation	290.124M	276.476M	354.304M	407.647M	253.852M	214.996M	136.912M	100.714M
Change in Accounts Receivable	941.620M	559.155M	666.978M	532.686M	498.934M	389.195M	329.524M	312.702M
Change in Inventory	—	—	—	—	—	—	—	—
Change in Accounts Payable	—	—	—	—	—	—	—	—
Change in Working Capital	291.298M	389.344M	512.140M	204.359M	-40.981M	387.238M	506.126M	287.264M
Cash from Investing	—	—	—	—	—	—	—	—
Capital Expenditures (CapEx)	-71.650M	-17.603M	-6.622M	-26.748M	-96.760M	-95.282M	-151.501M	-143.060M
Acquisitions	-21.143M	-10.355M	-7.726M	-327.402M	-130.910M	-410.448M	-371.458M	-10.300M
Cash from Financing	—	—	—	—	—	—	—	—
Debt Repayment	—	—	—	—	—	—	—	—
Stock Repurchased (Buybacks)	-515.645M	-139.791M	-75.055M	-2.140M	-162.784M	-36.647M	-491.537M	-82.403M
Dividends Paid	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Free Cash Flow (FCF)	3.373B	2.365B	743.928M	22.469M	314.185M	221.104M	491.537M	250.641M
Net Change in Cash	560.279M	1.726B	696.466M	-279.254M	1.813B	105.055M	195.268M	473.815M

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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