MAUs

Premium Subs

Ad-Supported MAUs

Monthly Active Users

% change MAUs

% change Premium Subs

% change Ad-Supported MAUs

Revenue segments as reported by the company.

Premium

Ad-Supported

Revenue Segments

Gross Profit, Operating Income, and Net Income as a percentage of Revenue

Gross Margin

Operating Margin

Profit Margin

Margins

An operating expense is an expense a business incurs through its normal business operations. Often abbreviated as OPEX.

Sales & Marketing

General & Administrative

Operating Expenses

Year over year growth in Revenue and Operating Expenses.

Revenue Y/Y

OpEx Y/Y

Growth

Shares outstanding refer to a company's stock currently held by all its shareholders, including share blocks held by institutional investors and restricted shares owned by the company's officers and insiders.

Outstanding Shares

Market Cap

Also known as Price/Sales Ratio. Calculated using Average market cap for the quarter / Annualized quarterly revenue.

Revenue Multiple

Short interest is the total number of shares lent out as per latest regulatory filings. Updated twice a month per FINRA reporting.

Short float is the total number of shares currently held as short positions divided by the total float as per latest regulatory filings. Updated twice a month per FINRA reporting.

Short float

Shorting

Short interest

Spotify

Gimlet Media operates as a network of high-quality, narrative podcasts.

Gimlet Media

SoundBetter is a marketplace for music production for sound engineers, singers, studios, and session musicians.

SoundBetter

Parcast is the premier storytelling podcast network focused on creating scripted, story-driven programming.

Parcast

Soundtrap operates an online music recording studio that enables users to record, edit, collaborate, and share their recordings.

Soundtrap

The Echo Nest is a music intelligence company that offers music services to developers and media companies.

The Echo Nest

Anchor allows anyone to record or upload high-quality audio, host unlimited episodes, and distribute everywhere with just one click.

Anchor

Spotify Technology SA engages in the provision of digital music services. It operates through the Premium and Ad-Supported segments. The Premium segment provides subscribers with online and offline streaming access of music and podcasts on computers, tablets, and mobile devices. The Ad-Supported segment offers users with limited on-demand online access of music and unlimited online access of podcasts on computers, tablets, and mobile and smart devices. The company was founded by Daniel Ek and Martin Lorentzon on December 27, 2006 and is headquartered in Stockholm, Sweden.

Earnings data Q1 2023

Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

Earnings data Q1 2025

Earnings data Q2 2025

Earnings data Q3 2025

Earnings data Q4 2025

Earnings data Q1 2026

Earnings data Q2 2026

Earnings data Q3 2026

Earnings data Q4 2026

Spotify reports robust Q4 earnings, eyes growth in podcasts

Spotify's Q4 2023 showcased strong financial performance, operational efficiency, and strategic foresight amidst growth in MAU and subscribers.
The company's focus on innovation, user engagement, and revenue diversification presents opportunities for sustained growth and market leadership.
Challenges in balancing profitability with growth initiatives, regulatory changes, and strategic realignment require agility and adaptability.
Overall, Spotify's performance highlights a resilient business model, commitment to long-term success, and potential for continued innovation and growth.

Spotify reports solid Q1 earnings, eyes pricing flexibility and innovation

Spotify's Q1 performance was strong, with a focus on revenue acceleration, profitability improvement, and innovation with label partners. While facing challenges in MAU growth and strategic adjustments, the company is eyeing opportunities in pricing flexibility, education expansion, and programmatic advertising. The new CFO is expected to enhance financial performance and resourcefulness.

Spotify excels in Q2 2024, eyes growth with premium tier

Spotify's Q2 2024 performance showcased strong subscriber trends, improved monetization, and record profitability, exceeding expectations.
The company's focus on enhancing MAU growth through marketing and product enhancements, along with the potential ultra-premium tier, positions it for continued success.
While facing challenges in a competitive market, Spotify's strategic initiatives and forecasted growth opportunities indicate a positive outlook for the future.

Spotify reports stellar Q3 performance, eyes growth through innovation

Spotify's Q3 2024 earnings call highlighted robust performance, strategic focus on growth and profitability, and a commitment to innovation. While facing challenges in capital allocation and market competition, the company is well-positioned to leverage opportunities in ad revenue, AI investments, and marketplace expansion for sustained success.

Spotify impresses with strong Q1 performance and innovation focus

Spotify's Q1 earnings call highlighted strong performance, subscriber growth, and financial results. The company's emphasis on innovation, resilience, and long-term strategy bodes well for future growth. Challenges such as macroeconomic uncertainties and growth strategy balance were also addressed.

Spotify reports strong user growth and revenue, focuses on Ads

Spotify's Q2 2025 earnings call highlighted strong user growth, financial performance, and a focus on improving Ads business. The company faces challenges in driving advertising growth and improving gross margins, but sees opportunities in subscriber base expansion and AI-driven personalization.

Spotify excels in Q3 with 700M MAUs and revenue surpassing targets

Spotify's Q3 2025 earnings call highlighted strong performance metrics, successful multi-format strategy execution, and strategic partnerships driving growth. While facing challenges in maintaining margins and leadership transitions, the company is well-positioned to capitalize on opportunities in audiobooks, platform partnerships, and advertising growth strategies.

Spotify reports robust Q4 performance, eyes AI innovation for growth

Spotify's Q4 2025 earnings call showcases strong financial performance, innovation focus, and commitment to long-term value creation. The company's emphasis on AI technology, personalization, and music rights payments underpin its growth strategy in a dynamic industry landscape.

Spotify excels in Q1 2026 with record user engagement and innovative features

Spotify's Q1 2026 earnings call highlighted strong performance metrics, innovative features, and strategic initiatives aimed at driving sustained growth and profitability. While facing challenges in a competitive landscape, the company is well-positioned to leverage opportunities in ad revenue and AI integration.

Spotify reports robust Q2 growth, eyes AI innovation for future

Spotify's Q2 performance reflects strong growth in revenue, subscriber base, and ads business, positioning the company for continued success. The emphasis on AI-driven personalization and new premium offerings highlights Spotify's commitment to enhancing user experience and driving value. While challenges like managing operating expenses and balancing growth with maintaining margins exist, Spotify's strategic focus on innovation and scale presents promising opportunities.

Spotify beats Q3 guidance on subscribers, margin, and ad recovery

Spotify delivered a strong Q3 2026, meeting or exceeding all key guided metrics: MAU hit 788 million in line with expectations, subscribers reached 306 million (1 million ahead of guidance), revenue came in at EUR 5 billion (+14% constant currency), and gross margin of 33% beat guidance by 10 basis points with ~140 bps of year-over-year expansion. Ad-supported revenue accelerated to 9% growth from 3% in each of the first two quarters, and free cash flow totaled EUR 735 million for the quarter. Management emphasized the theme of 'durability,' noting Spotify has added at least 25 million subscribers every year since its 2018 IPO, with Q3 growth coming from every global region. Looking to Q4, Spotify guided for MAU of 818 million, subscribers of 316 million, revenue of EUR 5.2 billion, and operating income of EUR 820 million, with OpEx growth now moderating as promised.