Spotify Technology S.A. (SPOT) Financial Statements

Income statement

Metric	TTM	2025	2024	2023	2022
Revenue
Total Revenue	18.8B	17.2B	15.7B	13.2B	11.7B
Cost of Revenue	12.6B	11.7B	10.9B	9.8B	8.8B
Gross Profit	6.2B	5.5B	4.7B	3.4B	2.9B
Operating Expenses
R&D Expense	1.4B	1.4B	1.5B	1.7B	1.4B
SG&A Expense	2.0B	1.9B	1.9B	2.1B	2.2B
General & Admin Expense	496.2M	479.0M	481.0M	585.0M	626.0M
Selling & Marketing Expense	1.5B	1.4B	1.4B	1.5B	1.6B
Other Expenses	—	—	—	—	—
Total Operating Expenses	3.4B	3.3B	3.4B	3.8B	3.6B
Cost and Expenses	16.0B	15.0B	14.3B	13.7B	12.4B
Operating Income (EBIT)	2.7B	2.2B	1.4B	(446.0M)	(659.0M)
Non-Operating
Interest Income	225.9M	245.0M	223.0M	131.0M	47.0M
Interest Expense	31.1M	31.0M	36.0M	38.0M	41.0M
Net Interest Income	194.7M	214.0M	187.0M	93.0M	6.0M
Other Non-Op Income/Expense	861.3M	26.0M	(24.0M)	(59.0M)	289.0M
Non-Operating Income (excl Interest)	(892.4M)	(57.0M)	(12.0M)	21.0M	(330.0M)
EBT (Pre-Tax Income)	3.6B	2.2B	1.3B	(505.0M)	(370.0M)
Income Tax Expense	191.0M	12.0M	203.0M	27.0M	60.0M
Bottom Line
Net Income	3.4B	2.2B	1.1B	(532.0M)	(430.0M)
Earnings from Cont. Ops	3.4B	2.2B	1.1B	(532.0M)	(430.0M)
Earnings from Discont. Ops	—	—	—	—	—
Bottom Line Net Income	3.4B	2.2B	1.1B	(532.0M)	(574.0M)
Per Share
Basic EPS	$16.66	$10.77	$5.67	($2.73)	($2.23)
Diluted EPS	$14.15	$10.51	$5.50	($2.73)	($2.93)
Revenue Per Share	$91.34	$83.67	$78.12	$68.03	$60.78
Shares
Basic Shares Outstanding	205.8M	205.4M	200.6M	194.7M	192.9M
Diluted Shares Outstanding	208.9M	210.5M	207.0M	194.7M	195.8M
Profitability Metrics
EBITDA	3.7B	2.4B	1.5B	(309.0M)	(158.0M)
D&A	108.1M	102.0M	121.0M	158.0M	171.0M
EBIT	3.6B	2.3B	1.4B	(467.0M)	(329.0M)

As reported, in the filing currency · TTM sums the four latest quarters; MRQ is the latest quarter · Negatives in parentheses; a dash is a line the filing does not carry · Data as of Jun 1, 2026