Spotify Technology S.A. (SPOT) — Financial statements
Income statement, balance sheet, and cash flow for Spotify Technology S.A. — annual and quarterly history with growth and margin analysis.
| Metric (EUR Millions) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
| Revenue & Gross Profit | ||||||
| Revenue | 17,186↑9.7% | 15,673↑18.3% | 13,247↑13.0% | 11,727↑21.3% | 9,668 | |
| Cost of Revenue | 11,690↑6.8% | 10,949↑11.2% | 9,850↑11.9% | 8,801↑24.4% | 7,077 | |
| Gross Profit | 5,496↑16.3% | 4,724↑39.1% | 3,397↑16.1% | 2,926↑12.9% | 2,591 | |
| Operating Expenses | ||||||
| R&D Expenses | 1,393↓6.3% | 1,486↓13.9% | 1,725↑24.4% | 1,387↑52.1% | 912 | |
| General & Administrative Expenses | 479↓0.4% | 481↓17.8% | 585↓6.5% | 626↑39.1% | 450 | |
| Selling & Marketing Expenses | 1,426↑2.4% | 1,392↓9.2% | 1,533↓2.5% | 1,572↑38.5% | 1,135 | |
| SG&A Expenses | 1,905↑1.7% | 1,873↓11.6% | 2,118↓3.6% | 2,198↑38.7% | 1,585 | |
| Other Expenses | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Operating Expenses | 3,298↓1.8% | 3,359↓12.6% | 3,843↑7.2% | 3,585↑43.6% | 2,497 | |
| Total Costs & Expenses | 14,988↑4.8% | 14,308↑4.5% | 13,693↑10.6% | 12,386↑29.4% | 9,574 | |
| Operating Results | ||||||
| Operating Income | 2,198↑61.0% | 1,365↑406.1% | -446↑32.3% | -659↓801.1% | 94 | |
| Depreciation & Amortization | 102↓15.7% | 121↓23.4% | 158↓7.6% | 171↑34.6% | 127 | |
| EBITDA | 2,357↑57.3% | 1,498↑584.8% | -309↓95.6% | -158↓138.0% | 416 | |
| EBIT | 2,255↑63.8% | 1,377↑394.9% | -467↓41.9% | -329↓213.8% | 289 | |
| Interest & Other Income | ||||||
| Net Interest Income | 214↑14.4% | 187↑101.1% | 93↑1450.0% | 6↑120.7% | -29 | |
| Interest Income | 245↑9.9% | 223↑70.2% | 131↑178.7% | 47↑327.3% | 11 | |
| Interest Expense | 31↓13.9% | 36↓5.3% | 38↓7.3% | 41↑2.5% | 40 | |
| Non-Operating Income | -57↓375.0% | -12↓157.1% | 21↑106.4% | -330↓69.2% | -195 | |
| Other Income / Expenses | 26↑208.3% | -24↑59.3% | -59↓120.4% | 289↑86.5% | 155 | |
| Income Before Tax | 2,224↑65.8% | 1,341↑365.5% | -505↓36.5% | -370↓248.6% | 249 | |
| Income Tax Expense | 12↓94.1% | 203↑651.9% | 27↓55.0% | 60↓78.8% | 283 | |
| Net Income & EPS | ||||||
| Net Income from Continuing Operations | 2,212↑94.4% | 1,138↑313.9% | -532↓23.7% | -430↓1164.7% | -34 | |
| Net Income from Discontinued Operations | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Net Income | 2,212↑94.4% | 1,138↑313.9% | -532↓23.7% | -430↓1164.7% | -34 | |
| Bottom-Line Net Income | 2,212↑94.4% | 1,138↑313.9% | -532↑7.3% | -574↓188.4% | -199 | |
| EPS (Basic) | 10.77↑89.9% | 5.67↑307.7% | -2.73↓22.4% | -2.23↓1138.9% | -0.18 | |
| EPS (Diluted) | 10.51↑91.1% | 5.50↑301.5% | -2.73↑6.8% | -2.93↓184.5% | -1.03 | |
| Weighted Average Shares | 205↑2.4% | 201↑3.0% | 195↑0.9% | 193↑0.9% | 191 | |
| Weighted Average Diluted Shares | 211↑1.7% | 207↑6.3% | 195↓0.6% | 196↑1.0% | 194 | |
* All figures in Millions of EUR, except per share data. Growth rates calculated Year-over-Year (YoY). Data source: SEC Filings.