SPOT
Spotify Technology SA
NYSE: SPOT · COMMUNICATION SERVICES · INTERNET CONTENT & INFORMATION
$443.57
+2.16% today
Updated 2026-04-29
Market cap
$106.65B
P/E ratio
42.18
P/S ratio
6.21x
EPS (TTM)
$12.28
Dividend yield
—
52W range
$405 – $785
Volume
2.1M
Spotify Technology SA (SPOT) Financial statements
SEC filings — annual and quarterly data.
Income statement — annual
| Item | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.94B | $2.95B | $4.09B | $5.26B | $6.76B | $7.88B | $9.67B | $11.73B | $13.25B | $15.67B | $17.19B |
| Revenue growth (YoY) | — | +52.2% | +38.6% | +28.6% | +28.6% | +16.5% | +22.7% | +21.3% | +13.0% | +18.3% | +9.7% |
| Cost of revenue | $1.71B | $2.55B | $3.24B | $3.91B | $5.04B | $5.87B | $7.08B | $8.80B | $9.85B | $10.95B | $11.69B |
| Gross profit | $226.00M | $401.00M | $849.00M | $1.35B | $1.72B | $2.02B | $2.59B | $2.93B | $3.40B | $4.72B | $5.50B |
| Gross margin | 11.6% | 13.6% | 20.8% | 25.7% | 25.5% | 25.6% | 26.8% | 25.0% | 25.6% | 30.1% | 32.0% |
| R&D | $136.00M | $207.00M | $396.00M | $493.00M | $615.00M | $837.00M | $912.00M | $1.39B | $1.73B | $1.49B | $1.39B |
| SG&A | $106.00M | $175.00M | $264.00M | $283.00M | $354.00M | $442.00M | $450.00M | $626.00M | $585.00M | $481.00M | $479.00M |
| Operating income | $-235.00M | $-349.00M | $-378.00M | $-43.00M | $-73.00M | $-293.00M | $94.00M | $-659.00M | $-446.00M | $1.36B | $2.20B |
| Operating margin | -12.1% | -11.8% | -9.2% | -0.8% | -1.1% | -3.7% | 1.0% | -5.6% | -3.4% | 8.7% | 12.8% |
| EBITDA | $-194.00M | $-492.00M | $-1.18B | $-135.00M | $-1.00M | $-544.00M | $416.00M | $-158.00M | $-309.00M | $1.50B | $2.36B |
| EBITDA margin | -10.0% | -16.7% | -28.7% | -2.6% | -0.0% | -6.9% | 4.3% | -1.3% | -2.3% | 9.6% | 13.7% |
| EBIT | $-224.00M | $-530.00M | $-1.23B | $-167.00M | $-88.00M | $-655.00M | $289.00M | $-329.00M | $-467.00M | $1.38B | $2.25B |
| Interest expense | $1.00M | $5.00M | $508.82M | $6.00M | $42.39M | $50.25M | $40.00M | $41.00M | $38.00M | $36.00M | $31.00M |
| Income tax | $5.00M | $4.00M | $2.00M | $-95.00M | $55.00M | $-128.00M | $283.00M | $60.00M | $27.00M | $203.00M | $11.53M |
| Effective tax rate | -2.2% | -0.7% | -0.2% | 54.9% | -42.0% | 18.1% | 113.7% | -16.2% | -5.3% | 15.1% | 0.5% |
| Net income | $-230.00M | $-539.00M | $-1.24B | $-78.00M | $-186.00M | $-581.00M | $-34.00M | $-430.00M | $-532.00M | $1.14B | $2.21B |
| Net income growth (YoY) | — | -134.3% | -129.1% | +93.7% | -138.5% | -212.4% | +94.1% | -1164.7% | -23.7% | +313.9% | +94.4% |
| Profit margin | -11.9% | -18.3% | -30.2% | -1.5% | -2.7% | -7.4% | -0.4% | -3.7% | -4.0% | 7.3% | 12.9% |