NYSE · SPOT
Spotify Technology financials
$493.66−0.77%
Close Sep 29, 2026 · split-adjustedRevenue
Net income
Income statement & cash flow
| Fiscal year | FY25 Dec 31 | FY24 Dec 31 | FY23 Dec 31 | FY22 Dec 31 | FY21 Dec 31 | FY20 Dec 31 | FY19 Dec 31 | FY18 Dec 31 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $20.16B | $16.31B | $14.64B | $12.58B | $10.99B | $9.60B | $7.59B | $6.04B |
| Gross profit | $6.45B | $4.92B | $3.76B | $3.14B | $2.95B | $2.45B | $1.93B | $1.55B |
| Gross margin | 32.0% | 30.1% | 25.6% | 25.0% | 26.8% | 25.6% | 25.5% | 25.7% |
| Operating income | $2.58B | $1.42B | -$493.0M | -$706.9M | $106.9M | -$356.8M | -$81.9M | -$49.4M |
| Net income | $2.60B | $1.18B | -$588.1M | -$461.2M | -$38.7M | -$707.6M | -$208.7M | -$89.6M |
| Net margin | 12.9% | 7.3% | −4.0% | −3.7% | −0.4% | −7.4% | −2.7% | −1.5% |
| Diluted EPS | $12.33 | $5.72 | $-3.02 | $-3.14 | $-0.20 | $-3.77 | $-1.15 | $-0.49 |
| EBITDA | $2.70B | $1.55B | -$318.4M | -$523.5M | $251.3M | -$221.7M | $15.7M | -$12.6M |
| Operating cash flow | $3.44B | $2.39B | $751.7M | $49.3M | $410.5M | $315.4M | $642.9M | $395.3M |
| Free cash flow | $3.37B | $2.38B | $745.1M | $22.5M | $313.9M | $220.4M | $491.4M | $251.7M |
| Diluted shares | 210.5M | 207.0M | 194.7M | 195.8M | 193.9M | 187.6M | 181.0M | 181.2M |
Balance sheet
| Period end | Dec 31 | Dec 31 | Dec 31 | Dec 31 | Dec 31 | Dec 31 |
|---|---|---|---|---|---|---|
| Cash & equivalents | $6.17B | $4.97B | $3.44B | $2.66B | $3.12B | $1.40B |
| Short-term investments | $4.94B | $2.78B | $1.22B | $930.0M | $859.7M | $725.9M |
| Total debt | $1.71B | $1.60B | $1.33B | $1.21B | $1.37B | $0.00 |
| Total assets | $17.62B | $12.49B | $9.23B | $8.19B | $8.15B | $7.70B |
| Total liabilities | $7.84B | $6.74B | $6.44B | $5.62B | $5.74B | $4.29B |
| Shareholders' equity | $9.77B | $5.75B | $2.79B | $2.58B | $2.41B | $3.42B |
From SEC filings via Massive. Fiscal periods follow the company's own calendar; free cash flow is operating cash flow minus capital expenditure.
Sources: Massive / Polygon daily aggregates (split-adjusted) · SEC filings via Massive · FINRA settlements via Massive · Financial Modeling Prep. Figures are dated where shown; research is informational, not investment advice. Methodology