Spotify Technology revenue and financials
$487.24Change from previous close: +0.87%Absolute change: +$4.19
In the fiscal year ended December 2025, Spotify Technology reported revenue of €17.19B (+9.65% year over year). Net income was €2.21B, a net margin of 12.9%.
Fiscal year ending in December. Sources and method on the page Methodology and sources.
At a glance
- Revenue growth
- +9.65%
- 2025 vs 2024
- Net income growth
- +94.38%
- 2025 vs 2024
- Net margin
- 12.9%
- 2024: 7.3%
Financial data
Amounts in millions of EUR; per-share values in EUR; shares in millions.
| Item | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | 816 | 836 | 856 | 829 | 709 | 539 | 883 | 715 | 492 | 211 | 397 | 211 |
| Depreciation and amortization | 28.0 | 24.0 | 24.0 | 23.0 | 26.0 | 27.0 | 22.0 | 30.0 | 30.0 | 31.0 | 22.0 | 36.0 |
| Capital expenditure | -20.0 | -5.0 | -22.0 | -23.0 | -10.0 | -6.0 | -6.0 | -4.0 | -2.0 | -5.0 | -1.0 | -1.0 |
| Investing cash flow | 62.0 | 732 | -629 | -438 | -404 | -314 | -1,198 | -82.0 | -92.0 | -114 | -5.0 | -203 |
| Financing cash flow | -218 | -1,611 | -418 | -100 | 11.0 | 126 | 244 | 99.0 | 184 | 202 | 194 | -1.0 |
| Share repurchases | -266 | -351 | -441 | -124 | -59.0 | -56.0 | -43.0 | -35.0 | -32.0 | -25.0 | -19.0 | -20.0 |
| Debt repaid | -16.0 | -1,324 | -14.0 | -15.0 | -22.0 | -22.0 | -12.0 | -18.0 | -24.0 | -15.0 | -11.0 | -13.0 |
| Effect of exchange rates | 23.0 | 40.0 | -7.0 | 4.0 | -174 | -113 | 164 | -98.0 | 19.0 | 38.0 | -87.0 | 58.0 |
| Net change in cash | 683 | -3.0 | -198 | 295 | 142 | 238 | 93.0 | 634 | 603 | 337 | 499 | 65.0 |
| Free cash flow | 796 | 831 | 834 | 806 | 699 | 533 | 877 | 711 | 490 | 206 | 396 | 210 |
| Levered free cash flow | 700 | -2.5 | 414 | 430 | -133 | -34.9 | 509 | 392 | 278 | 43.4 | 535 | -3.6 |