Spotify Technology S.A.
NYSE:SPOT
686.74 (USD) • At close August 7, 2025
Overview | Financials
Numbers are in millions (except for per share data and ratios) USD.
| 2025 Q2 | 2025 Q1 | 2024 Q4 | 2024 Q3 | 2024 Q2 | 2024 Q1 | 2023 Q4 | 2023 Q3 | 2023 Q2 | 2023 Q1 | 2022 Q4 | 2022 Q3 | 2022 Q2 | 2022 Q1 | 2021 Q4 | 2021 Q3 | 2021 Q2 | 2021 Q1 | 2020 Q4 | 2020 Q3 | 2020 Q2 | 2020 Q1 | 2019 Q4 | 2019 Q3 | 2019 Q2 | 2019 Q1 | 2018 Q4 | 2018 Q3 | 2018 Q2 | 2018 Q1 | 2017 Q4 | 2017 Q3 | 2017 Q2 | 2017 Q1 | 2016 Q4 | 2016 Q3 | 2016 Q2 | 2016 Q1 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue
| 4,193 | 4,190 | 4,242 | 3,988 | 3,807 | 3,636 | 3,671 | 3,357 | 3,177 | 3,042 | 3,166 | 3,036 | 2,864 | 2,661 | 2,689 | 2,501 | 2,331 | 2,147 | 2,168 | 1,975 | 1,889 | 1,848 | 1,855 | 1,731 | 1,667 | 1,511 | 1,495 | 1,352 | 1,273 | 1,139 | 1,149 | 1,032 | 1,007 | 902 | 895.446 | 742.782 | 714 | 619 |
| Cost of Revenue
| 2,873 | 2,864 | 2,874 | 2,748 | 2,695 | 2,632 | 2,691 | 2,472 | 2,411 | 2,276 | 2,365 | 2,286 | 2,160 | 1,990 | 1,977 | 1,833 | 1,668 | 1,599 | 1,593 | 1,486 | 1,410 | 1,376 | 1,381 | 1,290 | 1,233 | 1,138 | 1,096 | 1,010 | 944 | 856 | 867 | 802 | 775 | 797 | 729.09 | 603.572 | 610 | 588 |
| Gross Profit
| 1,320 | 1,326 | 1,368 | 1,240 | 1,112 | 1,004 | 980 | 885 | 766 | 766 | 801 | 750 | 704 | 671 | 712 | 668 | 663 | 548 | 575 | 489 | 479 | 472 | 474 | 441 | 434 | 373 | 399 | 342 | 329 | 283 | 282 | 230 | 232 | 105 | 166.356 | 139.209 | 104 | 31 |
| Gross Profit Ratio
| 0.315 | 0.316 | 0.322 | 0.311 | 0.292 | 0.276 | 0.267 | 0.264 | 0.241 | 0.252 | 0.253 | 0.247 | 0.246 | 0.252 | 0.265 | 0.267 | 0.284 | 0.255 | 0.265 | 0.248 | 0.254 | 0.255 | 0.256 | 0.255 | 0.26 | 0.247 | 0.267 | 0.253 | 0.258 | 0.248 | 0.245 | 0.223 | 0.23 | 0.116 | 0.186 | 0.187 | 0.146 | 0.05 |
| Reseach & Development Expenses
| 415 | 379 | 376 | 342 | 379 | 389 | 468 | 369 | 453 | 435 | 415 | 386 | 336 | 250 | 253 | 208 | 255 | 196 | 232 | 176 | 267 | 162 | 173 | 136 | 151 | 155 | 100 | 135 | 143 | 115 | 123 | 98 | 95 | 80 | 63.667 | 50.712 | 52 | 42 |
| General & Administrative Expenses
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 143 | 94 |
| Selling & Marketing Expenses
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 |
| SG&A
| 499 | 438 | 515 | 444 | 467 | 447 | 587 | 484 | 560 | 487 | 617 | 592 | 562 | 427 | 466 | 385 | 396 | 338 | 412 | 353 | 379 | 327 | 378 | 251 | 286 | 265 | 205 | 213 | 276 | 209 | 246 | 205 | 216 | 164 | 182.786 | 127.277 | 144 | 95 |
| Other Expenses
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Expenses
| 914 | 817 | 891 | 786 | 846 | 836 | 1,055 | 853 | 1,013 | 922 | 1,032 | 978 | 898 | 677 | 719 | 593 | 651 | 534 | 644 | 529 | 646 | 489 | 551 | 387 | 437 | 420 | 305 | 348 | 419 | 324 | 369 | 303 | 311 | 244 | 246.453 | 177.989 | 196 | 137 |
| Operating Income
| 406 | 509 | 477 | 454 | 266 | 168 | -75 | 32 | -247 | -156 | -231 | -228 | -194 | -6 | -7 | 75 | 12 | 14 | -69 | -40 | -167 | -17 | -77 | 54 | -3 | -47 | 94 | -6 | -90 | -41 | -87 | -73 | -79 | -139 | -80.097 | -38.78 | -92 | -106 |
| Operating Income Ratio
| 0.097 | 0.121 | 0.112 | 0.114 | 0.07 | 0.046 | -0.02 | 0.01 | -0.078 | -0.051 | -0.073 | -0.075 | -0.068 | -0.002 | -0.003 | 0.03 | 0.005 | 0.007 | -0.032 | -0.02 | -0.088 | -0.009 | -0.042 | 0.031 | -0.002 | -0.031 | 0.063 | -0.004 | -0.071 | -0.036 | -0.076 | -0.071 | -0.078 | -0.154 | -0.089 | -0.052 | -0.129 | -0.171 |
| Total Other Income Expenses Net
| -358 | -181 | 22 | -56 | 4 | 6 | -56 | 41 | 6 | -50 | -60 | 84 | 104 | 161 | -1 | 87 | -4 | 73 | -110 | -76 | -288 | 58 | -96 | 216 | -56 | -122 | 387 | -76 | -302 | -139 | -509 | -205 | -108 | -33 | -7.188 | -87.503 | -94 | -31 |
| Income Before Tax
| 48 | 328 | 499 | 398 | 270 | 174 | -131 | 73 | -241 | -206 | -291 | -144 | -90 | 155 | -8 | 162 | 8 | 87 | -179 | -116 | -455 | 41 | -173 | 270 | -59 | -169 | 481 | -82 | -392 | -180 | -596 | -278 | -187 | -172 | -87.285 | -126.283 | -186 | -137 |
| Income Before Tax Ratio
| 0.011 | 0.078 | 0.118 | 0.1 | 0.071 | 0.048 | -0.036 | 0.022 | -0.076 | -0.068 | -0.092 | -0.047 | -0.031 | 0.058 | -0.003 | 0.065 | 0.003 | 0.041 | -0.083 | -0.059 | -0.241 | 0.022 | -0.093 | 0.156 | -0.035 | -0.112 | 0.322 | -0.061 | -0.308 | -0.158 | -0.519 | -0.269 | -0.186 | -0.191 | -0.097 | -0.17 | -0.261 | -0.221 |
| Income Tax Expense
| 134 | 103 | 132 | 98 | -4 | -23 | -61 | 8 | 61 | 19 | -21 | 22 | 35 | 24 | 31 | 160 | 28 | 64 | -54 | -15 | -99 | 40 | 36 | 29 | 17 | -27 | 39 | -125 | 2 | -11 | 0 | 0 | 1 | 1 | 0 | 2.983 | -1 | 2 |
| Net Income
| -86 | 225 | 367 | 300 | 274 | 197 | -70 | 65 | -302 | -225 | -270 | -166 | -125 | 131 | -39 | 2 | -20 | 23 | -125 | -101 | -356 | 1 | -209 | 241 | -76 | -142 | 442 | 43 | -394 | -169 | -596 | -278 | -188 | -173 | -87.285 | -129.266 | -185 | -139 |
| Net Income Ratio
| -0.021 | 0.054 | 0.087 | 0.075 | 0.072 | 0.054 | -0.019 | 0.019 | -0.095 | -0.074 | -0.085 | -0.055 | -0.044 | 0.049 | -0.015 | 0.001 | -0.009 | 0.011 | -0.058 | -0.051 | -0.188 | 0.001 | -0.113 | 0.139 | -0.046 | -0.094 | 0.296 | 0.032 | -0.31 | -0.148 | -0.519 | -0.269 | -0.187 | -0.192 | -0.097 | -0.174 | -0.259 | -0.225 |
| EPS
| -0.42 | 1.1 | 1.81 | 1.49 | 1.37 | 0.99 | -0.33 | 0.31 | -1.42 | -1.07 | 0 | -0.88 | -0.62 | 0.61 | -0.18 | 0.009 | -0.084 | 0.1 | -0.54 | -0.45 | -1.7 | 0.005 | -1 | 1.22 | -0.37 | -0.7 | 2.04 | 0.21 | -1.89 | -0.82 | -2.86 | -1.41 | -0.98 | -0.96 | -0.472 | -0.706 | -1.25 | -0.95 |
| EPS Diluted
| -0.405 | 1.04 | 1.85 | 1.42 | 1.33 | 0.976 | -0.347 | 0.339 | -1.55 | -1.15 | -1.32 | -0.886 | -0.659 | 0.211 | -0.215 | -0.417 | -0.194 | -0.256 | -0.641 | -0.532 | -1.87 | -0.202 | -1.11 | 0.367 | -0.417 | -0.795 | 2.32 | 0.228 | -2.26 | -1.01 | -3.26 | -1.51 | -0.985 | -0.935 | -0.472 | -0.706 | -1.25 | -0.95 |
| EBITDA
| 82 | 363 | 538 | 437 | 309 | 214 | -77 | 118 | -187 | -152 | -214 | -89 | -40 | 202 | 46 | 205 | 49 | 127 | -36 | -78 | -417 | 78 | -336 | 302 | -29 | -139 | 491 | 10 | -386 | -169 | -38 | -262 | -174 | -157 | 42.102 | -53.695 | -280 | -168 |
| EBITDA Ratio
| 0.02 | 0.087 | 0.127 | 0.11 | 0.081 | 0.059 | -0.021 | 0.035 | -0.059 | -0.05 | -0.068 | -0.029 | -0.014 | 0.076 | 0.017 | 0.082 | 0.021 | 0.059 | -0.017 | -0.039 | -0.221 | 0.042 | -0.181 | 0.174 | -0.017 | -0.092 | 0.328 | 0.007 | -0.303 | -0.148 | -0.033 | -0.254 | -0.173 | -0.174 | 0.047 | -0.072 | -0.392 | -0.271 |