Spotify Technology S.a. (SPOT) Financial Statements
Spotify Technology financial statements at a glance
Spotify Technology reported revenue of 17.19 billion EUR for fiscal year 2025 (ended December 31, 2025), up 9.7% from fiscal year 2024. Net income was 2.21 billion EUR, a net margin of 12.9%, and diluted earnings per share were 10.51 EUR.
At the end of fiscal year 2025 it had total assets of 15.02 billion EUR, total liabilities of 6.69 billion EUR and shareholders' equity of 8.33 billion EUR, with cash and short-term investments of 9.47 billion EUR and total debt of 1.96 billion EUR.
Its operations brought in 2.93 billion EUR of cash; capital spending was 61.00 million EUR, leaving free cash flow of 2.87 billion EUR.
The tables below show the income statement, balance sheet and cash flow statement; the key figures of the last 5 fiscal years are at the bottom of the page.
Figures from company filings, in EUR; latest fiscal year ended December 31, 2025.
Spotify Technology S.a.
Income Statement
Annual • EUR
Spotify Technology key figures by fiscal year
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue | 17.2B EUR | $15.7B | $13.2B | $11.7B | 9.7B EUR |
| Gross profit | 5.5B EUR | $4.7B | $3.4B | $2.9B | 2.6B EUR |
| Operating income | 2.2B EUR | $1.4B | -$446.0M | -$659.0M | 94.0M EUR |
| Net income | 2.2B EUR | $1.1B | -$532.0M | -$430.0M | -34.0M EUR |
| Diluted EPS | 10.51 EUR | – | – | – | -1.03 EUR |
| Total assets | 15.0B EUR | $12.0B | $8.3B | $7.6B | 7.2B EUR |
| Total liabilities | 6.7B EUR | $6.5B | $5.8B | $5.2B | 5.1B EUR |
| Shareholders' equity | 8.3B EUR | $5.5B | $2.5B | $2.4B | 2.1B EUR |
| Cash and short-term investments | 9.5B EUR | – | – | – | 3.5B EUR |
| Total debt | 2.0B EUR | $2.0B | $1.7B | $1.7B | 1.8B EUR |
| Operating cash flow | 2.9B EUR | $2.3B | $680.0M | $46.0M | 361.0M EUR |
| Capital spending | 61.0M EUR | – | – | – | 85.0M EUR |
| Free cash flow | 2.9B EUR | – | – | – | 276.0M EUR |
In EUR. Fiscal years as reported by the company; statements on this page go back to fiscal year 2020.
Questions and answers
What was Spotify Technology's revenue in fiscal year 2025?
17.19 billion EUR, up 9.7% from 15.67 billion EUR in fiscal year 2024.
How much profit does Spotify Technology make?
Spotify Technology reported net income of 2.21 billion EUR for fiscal year 2025 (12.9% of revenue); operating income was 2.20 billion EUR.
How much cash and debt does Spotify Technology have?
At the end of fiscal year 2025: cash and short-term investments of 9.47 billion EUR and total debt of 1.96 billion EUR.
What is Spotify Technology's free cash flow?
2.87 billion EUR in fiscal year 2025 (operating cash flow of 2.93 billion EUR minus capital spending of 61.00 million EUR).
