logo
Twitter
Discord
Email
logo
Spotify Technology S.A.

Spotify Technology S.A.

NYSE•SPOT
CEO: Mr. Daniel G. Ek
Sector: Communication Services
Industry: Internet Content & Information
Listing Date: 2018-04-03
Spotify Technology S.A., together with its subsidiaries, provides audio streaming subscription services worldwide. It operates through two segments, Premium and Ad-Supported. The Premium segment offers unlimited online and offline streaming access to its catalog of music and podcasts without commercial breaks to its subscribers. This segment sells directly to the end users. The Ad-Supported segment provides on-demand online access to its catalog of music and unlimited online access to the catalog of podcasts to its users on their computers, tablets, and compatible mobile devices. The company also offers sales, distribution and marketing, contract research and development, and customer and other support services. Spotify Technology S.A. was incorporated in 2006 and is based in Luxembourg City, Luxembourg.
Contact Information
5, Place de la Gare, Luxembourg, 1616, Luxembourg
N/A
www.spotify.com
Market Cap
$105.67B
P/E (TTM)
63.4
74.3
Dividend Yield
--
52W High
$785.00
52W Low
$475.01
52W Range
12%
Rank53Top 76.1%
2.8
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Weak • 2.8 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2016-2025

Financial Dashboard

Q3 2025 Data

Revenue

$4.99B+7.12%
4-Quarter Trend

EPS

$5.10+192.62%
4-Quarter Trend

FCF

$962.55M+15.81%
4-Quarter Trend

2024 Annual Earnings Highlights

Key Highlights

Total Revenue Increased 18% Total revenue reached €15,673M, marking an 18% increase compared to €13,247M reported in the preceding fiscal year.
Net Income Turned Positive Net income turned positive at €1,138M, successfully reversing the €532M net loss reported in the prior fiscal year period.
Subscriber Base Expansion Premium Subscribers grew 11% reaching 263M, while total MAUs increased 12% to 675 million users globally.
Strong Free Cash Flow Free Cash Flow surged to €2,285M, a substantial improvement from €678M generated during the previous reporting period.

Risk Factors

Content Royalty Cost Pressure Dependence on third-party licenses means royalty rate changes or disputes could materially impair gross margins moving forward.
Intense Ecosystem Competition Robust competition from large ecosystem players like Apple and Alphabet threatens user acquisition and advertising monetization efforts.
Evolving Regulatory Landscape Operating globally subjects the company to complex, evolving laws regarding privacy, data security, and content moderation requirements.
Sustaining High Growth Rates Management notes that maintaining current high growth rates will become increasingly difficult as the user base matures.

Outlook

New Monetization Exploration Exploring additional monetization opportunities, including the Spotify Partner Program, which is set to launch in select markets in 2025.
Continued AI Investment Continuing substantial investments in AI initiatives across products and operations to enhance user experience and advertising efficiency.
Real Estate Footprint Reduction Strategic reduction of real estate footprint is ongoing following the Office Space Optimization Initiative, resulting in impairment charges.
No Cash Dividend Policy Expects to retain all future earnings for working capital and general corporate purposes, with no current plans for cash dividends.

Peer Comparison

Revenue (TTM)

Verizon Communications Inc.VZ
$137.49B
+2.4%
AT&T Inc.T
$124.48B
+2.0%
Comcast CorporationCMCSA
$123.31B
+0.2%

Gross Margin (Latest Quarter)

Comcast CorporationCMCSA
59.4%
+3.3pp
DoorDash, Inc.DASH
51.0%
+1.8pp
Verizon Communications Inc.VZ
46.9%
-0.0pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
T$167.24B7.621.0%37.5%
VZ$166.63B8.419.4%43.9%
CMCSA$106.49B4.824.7%36.3%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
3.4%
Moderate Growth
4Q Net Income CAGR
39.0%
Profitability Improved
Cash Flow Stability
100%
Strong Cash Flow

Research & Insights

Next earnings:Feb 3, 2026
|
EPS:$3.20
|
Revenue:$4.52B
Reports
All Years

  • Form 20-F - FY 2024

    Period End: Dec 31, 2024|Filed: Feb 5, 2025|
    Revenue: $16.95B+18.3%
    |
    EPS: $6.13+307.7%
    Beat

  • Form 20-F - FY 2023

    Period End: Dec 31, 2023|Filed: Feb 8, 2024|
    Revenue: $14.33B+13.0%
    |
    EPS: $-2.95-22.4%
    Miss

  • Form 20-F - FY 2022

    Period End: Dec 31, 2022|Filed: Feb 2, 2023|
    Revenue: $12.33B+21.3%
    |
    EPS: $-2.34-1138.9%
    Meet

  • Form 20-F - FY 2021

    Period End: Dec 31, 2021|Filed: Feb 3, 2022|
    Revenue: $11.43B+22.7%
    |
    EPS: $-0.21+94.2%
    Meet

  • Form 20-F - FY 2020

    Period End: Dec 31, 2020|Filed: Feb 5, 2021|
    Revenue: $8.99B+16.5%
    |
    EPS: $-3.54-201.0%
    Miss