SPOT
Spotify Technology S.A.
Stock
$472.89−18.51 (−3.77%)Close Oct 2, 2026
Income statement
| Line | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | €17.2B | €15.7B | €13.2B | €11.7B | €9.7B | €7.9B | €6.8B | €5.3B | €4.1B | €3.0B |
| Cost of revenue | €11.7B | €10.9B | €9.9B | €8.8B | €7.1B | €5.9B | €5.0B | €3.9B | €3.2B | €2.6B |
| Gross profit | €5.5B | €4.7B | €3.4B | €2.9B | €2.6B | €2.0B | €1.7B | €1.4B | €849M | €401M |
| R&D | €1.4B | €1.5B | €1.7B | €1.4B | €912M | €837M | €615M | €493M | €396M | €207M |
| Other operating expenses | €1.9B | €1.9B | €2.1B | €2.2B | €1.6B | €1.5B | €1.2B | €903M | €831M | €543M |
| Operating income | €2.2B | €1.4B | −€446M | −€659M | €94M | −€293M | −€73M | −€43M | −€378M | −€349M |
| Non-operating income | €26M | −€24M | −€59M | €289M | €155M | −€416M | −€58M | −€130M | −€855M | −€186M |
| Pretax income | €2.2B | €1.3B | −€505M | −€370M | €249M | −€709M | −€131M | −€173M | −€1.2B | −€535M |
| Taxes | €12M | €203M | €27M | €60M | €283M | −€128M | €55M | −€95M | €2.0M | €4.0M |
| Net income | €2.2B | €1.1B | −€532M | −€430M | −€34M | −€581M | −€186M | −€78M | −€1.2B | −€539M |
| Diluted EPS | €10.51 | €5.50 | −€2.73 | −€2.93 | −€1.03 | −€3.10 | −€1.03 | −€0.51 | −€8.14 | −€3.63 |
| Diluted shares | 210.5M | 207.0M | 194.7M | 195.8M | 193.9M | 187.6M | 181.0M | 181.2M | 151.7M | 148.4M |
| Revenue growth | +9.7% | +18.3% | +13.0% | +21.3% | +22.7% | +16.5% | +28.6% | +28.6% | +38.6% | — |
| Gross margin | 32.0% | 30.1% | 25.6% | 25.0% | 26.8% | 25.6% | 25.5% | 25.7% | 20.8% | 13.6% |
| Operating margin | 12.8% | 8.7% | −3.4% | −5.6% | 1.0% | −3.7% | −1.1% | −0.8% | −9.2% | −11.8% |
| Net margin | 12.9% | 7.3% | −4.0% | −3.7% | −0.4% | −7.4% | −2.7% | −1.5% | −30.2% | −18.3% |