Spotify Technology S.A. FY2025 income statement | sankey.it

SPOTFY2025

Spotify Technology S.A.

EUR, fiscal year ended 2025-12-31

Operating Expenses: R&D 8% | SG&A 11% of revenue

Revenue

EUR 17.2B+9.7%

Gross margin

32.0%+1.8 pts

Operating margin

12.8%+4.1 pts

Net margin

12.9%+5.6 pts

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Revenue segments

No segment breakdown available for this filing - the flow shows revenue narrowing straight into cost and profit.

Period history

Revenue, by year

Income statement

Line	FY2025	YoY
Revenue	EUR 17,186,000,000	+9.7%
Cost of revenue	EUR 11,690,000,000	+6.8%
Gross profit	EUR 5,496,000,000	+16%
Operating expenses	EUR 3,298,000,000	-1.8%
Operating income	EUR 2,198,000,000	+61%
Other income/expense, net	EUR 26,000,000	+208%
Income before tax

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Source: Financial Modeling Prep, via the DATA project
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