Spotify Technology S.A. (SPOT) Financial Statements — Income, Balance Sheet, Cash Flow

Overview Financials Chart Business Summary Filings Ownership Valuation

Financial Statements — SPOT

Balance Sheet

(in billions EUR)

Metric	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Cash & Equivalents	5.26	4.78	3.11	2.48	2.74	1.15	1.07
Total Current Assets	10.50	8.38	5.26	4.35	4.37	2.37	2.23
Goodwill	1.08	1.20	1.14	1.17	0.89	0.74	0.48
Total Non-current Assets	4.52	3.63	3.09	3.28	2.80	3.96	2.89
Total Assets	15.02	12.01	8.35	7.64	7.17	6.33	5.12
Total Current Liabilities	6.09	4.45	4.09	3.52	3.23	2.90	2.44
Total Non-current Liabilities	0.60	2.03	1.73	1.72	1.83	0.62	0.65
Total Liabilities	6.69	6.48	5.82	5.24	5.05	3.52	3.09
Retained Earnings	(0.83)	(3.04)	(4.18)	(3.65)	(3.22)	(3.29)	(2.71)
Total Stockholder Equity	8.33	5.53	2.52	2.40	2.12	2.81	2.04

Income Statement

(in billions EUR) (except per-share rows)

Metric	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Total Revenue	17.19	15.67	13.25	11.73	9.67	7.88	6.76
Cost of Revenue*	11.69	10.95	9.85	8.80	7.08	5.87	5.04
Gross Profit	5.50	4.72	3.40	2.93	2.59	2.02	1.72
Research & Development	1.39	1.49	1.73	1.39	0.91	0.84	0.62
Selling, General & Admin	0.48	0.48	0.59	0.63	0.45	0.44	0.35
Total Operating Expenses	3.30	3.36	3.84	3.59	2.50	2.31	1.80
Operating Income	2.20	1.37	(0.45)	(0.66)	0.09	(0.29)	(0.07)
Pretax Income	2.22	1.34	(0.50)	(0.37)	0.25	(0.71)	(0.13)
Tax Provision	0.01	0.20	0.03	0.06	0.28	(0.13)	0.06
Net Income	2.21	1.14	(0.53)	(0.43)	(0.03)	(0.58)	(0.19)
Basic EPS	10.77	5.67	(2.73)	(2.23)	(0.18)	(3.10)	(1.03)
Diluted EPS	10.51	5.50	(2.73)	(2.93)	(1.03)	(3.10)	(1.03)

* Derived from reported values

Cash Flow Statement

(in billions EUR)

Metric	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Operating Cash Flow	2.93	2.30	0.68	0.05	0.36	0.26	0.57
Investing Cash Flow	(1.78)	(1.49)	(0.22)	(0.42)	(0.19)	(0.37)	(0.22)
Financing Cash Flow	(0.38)	0.73	0.23	(0.04)	1.25	0.28	(0.20)