Spotify Technology S.A.SPOTNYSE

Revenue (LTM)

$17.2B

+9.7% YoY

Net Income (LTM)

$2.2B

+94.4% YoY

Free Cash Flow

$2.8B

Revenue CAGR (5Y)

+16.9%

Marginsimproving

FCF$2.8B

Profitable

Metric	Dec 21	Dec 22	Dec 23	Dec 24	Dec 25
Revenue	9,668	11,727↑21.3%	13,247↑13.0%	15,673↑18.3%	17,186↑9.7%
Gross Profit	2,591	2,926↑12.9%	3,397↑16.1%	4,724↑39.1%	5,496↑16.3%
Operating Income	94	-659↓801.1%	-446↑32.3%	1,365↑406.1%	2,198↑61.0%
Net Income	-34	-430↓1164.7%	-532↓23.7%	1,138↑313.9%	2,212↑94.4%
EBITDA	416	-158↓138.0%	-309↓95.6%	1,498↑584.8%	2,357↑57.3%
EPS Diluted	-1.03	-2.93↓184.5%	-2.73↑6.8%	5.50↑301.5%	10.51↑91.1%

Metric	Dec 21	Dec 22	Dec 23	Dec 24	Dec 25
Cash & Equivalents	2,752	2,463↓10.5%	3,126↑26.9%	4,781↑52.9%	5,256↑9.9%
Total Current Assets	4,385	4,316↓1.6%	5,280↑22.3%	8,379↑58.7%	10,492↑25.2%
Total Assets	7,191	7,573↑5.3%	8,378↑10.6%	12,005↑43.3%	15,009↑25.0%
Total Current Liabilities	3,236	3,487↑7.8%	4,106↑17.7%	4,450↑8.4%	6,082↑36.7%
Total Liabilities	5,066	5,192↑2.5%	5,845↑12.6%	6,480↑10.9%	6,680↑3.1%
Total Equity	2,125	2,381↑12.0%	2,533↑6.4%	5,525↑118.2%	8,325↑50.7%
Total Debt	1,786	1,669↓6.6%	1,702↑2.0%	2,001↑17.5%	2,323↑16.1%
Net Debt	-966	-793↑17.9%	-1,423↓79.4%	-2,780↓95.3%	-2,933↓5.5%

Metric	Dec 21	Dec 22	Dec 23	Dec 24	Dec 25
Operating Cash Flow	361	46↓87.3%	680↑1378.3%	2,301↑238.4%	2,839↑23.4%
Capital Expenditure	-85	-25↑70.6%	-6↑76.0%	-17↓183.3%	-59↓244.7%
Free Cash Flow	276	21↓92.4%	674↑3109.5%	2,284↑238.9%	2,781↑21.7%
Stock-Based Comp	223	381↑70.9%	321↓15.7%	267↓16.8%	0
Net Change in Cash	1,593	-261↓116.4%	631↑341.8%	1,667↑164.2%	1,042↓37.5%

Values in millions except EPS · Ratios shown as percentages · Click any metric to drill down

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