Sign in

SPOT on NYSE

Spotify Technology

Logo: Spotify AB, Dinamo Typefaces, Public domain, via Wikimedia Commons4

Luxembourgish holding company founded in 20071

In its 2026 annual report (Form 20-F) the company says: “We are a Luxembourg public limited liability company ( société anonyme ), which means that shareholders’ liability is limited to their contributions to the company. Our legal name is “Spotify Technology S.A.” and our commercial name is “Spotify.”7 It was founded by Martin Lorentzon and Daniel Ek.1 Its chief executive is Daniel Ek.1 It employed 6,617 people in 2021.1 Its revenue was €9.7 billion in 2021.1

Price unavailable

Last updated Oct 21, 2026.

Overview

17.2BRevenue, fiscal 20255
2.2BNet income, fiscal 20255
Jan 8, 2007Founded1

Compare with another stock.

  • TickerSPOT on NYSE1
  • Industrysoftware development, streaming media1
  • HeadquartersLuxembourg1
  • Websitewww.spotify.com
  • Legal formsociété anonyme1
  • Incorporated inLuxembourg6
  • Business address33 Boulevard Prince Henri, Luxembourg6
  • Filer categoryLarge accelerated filer6
  • LEI549300B4X0JHWV0DTD603
  • StatusActive3
  • LEI statusLapsed (not renewed)3
  • Registered address42-44, avenue de la Gare, L-1610 Luxembourg, Luxembourg3
  • Registered withLuxembourg Business Registers, B1230523

See how the biggest companies compare on our leaderboards

We are a Luxembourg public limited liability company ( société anonyme ), which means that shareholders’ liability is limited to their contributions to the company. The shares forming the share capital of a Luxembourg public limited liability company ( société anonyme ) may be publicly traded and registered on a stock exchange. Our legal name is “Spotify Technology S.A.” and our commercial name is “Spotify.” We were incorporated on December 27, 2006 as a Luxembourg private limited liability company ( société à responsabilité limitée ) and were transformed, on March 20, 2009, into a Luxembourg public limited liability company ( société anonyme ). The principal legislation under which we operate, and under which our ordinary share capital has been created, is the law of August 10, 1915 on commercial companies, as amended, and the law of December 19, 2002 on the register of commerce and com…7 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from. Figures are in EUR, the currency the company reports in.

Key numbers, fiscal 2025

32.0%Gross margin5
12.8%Operating margin5
12.9%Net margin5
9.7%Revenue growth, 20255
2.9B EURFree cash flow5

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Business segments

Premium brought in 89% of the revenue Spotify Technology broke down this way in fiscal 2025.

  1. Premium15.3B EUR589%up 11% from 2024
  2. Ad Supported1.8B EUR511%down 1% from 2024
Business segments by year
Business segments202320242025
Premium11.6B EUR13.8B EUR15.3B EUR
Ad Supported1.7B EUR1.9B EUR1.8B EUR

Regions

Other Countries brought in 62% of the revenue Spotify Technology broke down this way in fiscal 2025.

  1. Other Countries10.7B EUR562%up 12% from 2024
  2. United States6.5B EUR538%up 5% from 2024
  3. LU13.0M EUR50%up 30% from 2024
Regions by year
Regions202320242025
Other Countries8.0B EUR9.5B EUR10.7B EUR
United States5.2B EUR6.1B EUR6.5B EUR
LU9.0M EUR10.0M EUR13.0M EUR

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue68¢11.7B EUR
  • Research and development8¢1.4B EUR
  • Other costs9¢1.6B EUR
  • Interest2¢266.0M EUR
  • Income tax0¢12.0M EUR
  • Profit13¢2.2B EUR

Out of 17.2B EUR in revenue.5

Where each dollar of operating cash went, fiscal 2025

  • Capital spending2¢61.0M EUR
  • Share buybacks15¢439.0M EUR
  • Kept or used elsewhere83¢2.4B EUR

Out of 2.9B EUR of cash from operations.5

Financial statements

Revenue89101112517.2B EUR in 2025+227% since 2018
05.0B EUR10.0B EUR15.0B EUR20.0B EUR2018: 5.3B EUR5.3B EUR20182019: 6.8B EUR6.8B EUR2019+29%2020: 7.9B EUR7.9B EUR2020+16%2021: 9.7B EUR9.7B EUR2021+23%2022: 11.7B EUR11.7B EUR2022+21%2023: 13.2B EUR13.2B EUR2023+13%2024: 15.7B EUR15.7B EUR2024+18%2025: 17.2B EUR17.2B EUR2025+10%
Gross profit8910111255.5B EUR in 2025+306% since 2018
02.0B EUR4.0B EUR6.0B EUR2018: 1.4B EUR1.4B EUR20182019: 1.7B EUR1.7B EUR2019+27%2020: 2.0B EUR2.0B EUR2020+17%2021: 2.6B EUR2.6B EUR2021+29%2022: 2.9B EUR2.9B EUR2022+13%2023: 3.4B EUR3.4B EUR2023+16%2024: 4.7B EUR4.7B EUR2024+39%2025: 5.5B EUR5.5B EUR2025+16%
Operating income8910111252.2B EUR in 2025
-1.0B EUR01.0B EUR2.0B EUR3.0B EUR2018: -43.0M EUR-43.0M EUR20182019: -73.0M EUR-73.0M EUR2019+70%2020: -293.0M EUR-293.0M EUR2020+301%2021: 94.0M EUR94.0M EUR20212022: -659.0M EUR-659.0M EUR20222023: -446.0M EUR-446.0M EUR2023−32%2024: 1.4B EUR1.4B EUR20242025: 2.2B EUR2.2B EUR2025+61%
Net income8910111252.2B EUR in 2025
-1.0B EUR01.0B EUR2.0B EUR3.0B EUR2018: -78.0M EUR-78.0M EUR20182019: -186.0M EUR-186.0M EUR2019+138%2020: -581.0M EUR-581.0M EUR2020+212%2021: -34.0M EUR-34.0M EUR2021−94%2022: -430.0M EUR-430.0M EUR2022+1165%2023: -532.0M EUR-532.0M EUR2023+24%2024: 1.1B EUR1.1B EUR20242025: 2.2B EUR2.2B EUR2025+94%

Every line of the income statement as filed: the last 3 fiscal years, latest first.5

Period ending2025-12-312024-12-312023-12-31
Revenue17.2B EUR15.7B EUR13.2B EUR
Cost of revenue11.7B EUR10.9B EUR9.8B EUR
Gross profit5.5B EUR4.7B EUR3.4B EUR
Research and development1.4B EUR1.5B EUR1.7B EUR
Sales and marketing1.4B EUR1.4B EUR1.5B EUR
General and administrative479.0M EUR481.0M EUR585.0M EUR
Total operating expense3.3B EUR3.4B EUR3.8B EUR
Operating income/(loss)2.2B EUR1.4B EUR-446.0M EUR
Finance income292.0M EUR328.0M EUR161.0M EUR
Finance costs-266.0M EUR-352.0M EUR-220.0M EUR
Finance income/(costs) - net26.0M EUR-24.0M EUR-59.0M EUR
Income/(loss) before tax2.2B EUR1.3B EUR-505.0M EUR
Income tax expense12.0M EUR203.0M EUR27.0M EUR
Net income/(loss) attributable to owners of the parent2.2B EUR1.1B EUR-532.0M EUR
Basic (euro per share)10.77 EUR5.67 EUR-2.73 EUR
Diluted (euro per share)10.51 EUR5.50 EUR-2.73 EUR
Basic (in shares)205.4M shares200.6M shares194.7M shares
Diluted (in shares)210.5M shares207.0M shares194.7M shares

Compare Spotify Technology with another company

Corporate structure

Spotify Technology sits at the top of its group. 9 entities, 3 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Spotify Technology

  • BAILLIE GIFFORD & CO Filed SCHEDULE 13G on Spotify Technology, latest Aug 8, 2025 (7 filings since Jan 26, 2022)
  • PRICE T ROWE ASSOCIATES INC /MD/ Filed SC 13G/A on Spotify Technology, latest Feb 16, 2024 (4 filings since Feb 14, 2022)
  • Daniel Ek Filed SC 13G/A on Spotify Technology, latest Feb 9, 2024 (3 filings since Feb 3, 2022)
  • Sven Hans Martin Lorentzon Filed SC 13G/A on Spotify Technology, latest Feb 9, 2024 (3 filings since Feb 3, 2022)
  • Morgan Stanley Filed SC 13G/A on Spotify Technology, latest Dec 12, 2022 (2 filings since Feb 11, 2022)
  • Spotify Technology Stockholm, Sweden
    • Gimlet Media Subsidiary · Brooklyn
    • The Echo Nest Subsidiary · Somerville
    • Cutler Media LLC Subsidiary
    • Spotify AB Subsidiary · Stockholm, Sweden
      • SPOTIFY USA INC. Subsidiary · New York, New York, United States
    • Spotify for Creators Subsidiary
    • SPOTIFY INDIA LLP Subsidiary · Mumbai, India
    • WhoSampled Subsidiary

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries, stakes and holdings from Wikidata (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Spotify Technology reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, net188.0M EUR5 Dec 31, 2025188.0M EUR5 Dec 31, 20240%
Operating-lease assets (leased space)234.0M EUR5 Dec 31, 2025226.0M EUR5 Dec 31, 2024+3.5%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents5.3B EUR5 Dec 31, 20254.8B EUR5 Dec 31, 2024+10.0%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill1.1B EUR5 Dec 31, 20251.2B EUR5 Dec 31, 2024−9.8%
Intangible assets, net (excluding goodwill)41.0M EUR5 Dec 31, 202548.0M EUR5 Dec 31, 2024−14.6%

The story

Founded by Daniel Ek and Martin Lorentzon on Jan 8, 2007.1

Leadership

Who has led Spotify Technology, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Alex Norstrom2026–now
  2. Gustav Soderstrom2026–now

Chief financial officer

  1. Christian Luiga2026–now
2010201520202025
Board members and other officers (16)

Subsidiaries and ownership

Owners

Subsidiaries

From Wikidata.1

Acquisitions

  1. 2025Acquired WhoSampled1
  2. Feb 28, 2019Spotify for Creators became a subsidiary1

Employees over time

Spotify Technology employees by year16.6K in 2021+81% since 2018
02.0K4.0K6.0K8.0K2018: 3.7K3.7K20182019: 4.4K4.4K2019+21%2020: 5.6K5.6K2020+27%2021: 6.6K6.6K2021+18%
  • 20216,6171
  • 20205,5841
  • 20194,4051
  • 20183,6511

Timeline

  1. Mar 18, 2026New chief executive Gustav Soderstrom becomes CEO15
  2. Mar 18, 2026New chief executive Alex Norstrom becomes CEO14
  3. Apr 3, 2018Went public Listed on NYSE1
  4. Jan 8, 2007Founded Founded1

Calendar

Coming up

  1. Oct 22, 2026 · Before the openReports results for the quarter ending Sep/2026 A year earlier it reported $3.83 a share, on Nov 4, 2025.30

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

281 filings to the SEC since October 2021: 5 annual reports, 72 insider forms, 19 large holders, 185 other. The latest 20:

  1. Oct 14, 20264 EDGAR
  2. Oct 5, 20264 EDGAR
  3. Oct 5, 20264 EDGAR
  4. Oct 5, 20264 EDGAR
  5. Oct 5, 20264 EDGAR
  6. Oct 5, 20264 EDGAR
  7. Oct 5, 20264 EDGAR
  8. Sep 16, 20264 EDGAR
  9. Sep 14, 2026144 EDGAR
  10. Sep 3, 20264 EDGAR
  11. Sep 3, 20264 EDGAR
  12. Sep 3, 20264 EDGAR
  13. Sep 3, 20264 EDGAR
  14. Sep 3, 20264 EDGAR
  15. Sep 3, 20266-K EDGAR
  16. Aug 31, 20263 EDGAR
  17. Aug 20, 20266-K EDGAR
  18. Aug 18, 20264 EDGAR
  19. Aug 14, 2026144 EDGAR
  20. Aug 5, 20264 EDGAR

The 281 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

15 open-market trades by officers, directors and large owners since October 2021: 0 buys and 15 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Sep 14, 2026Soderstrom GustavCo-Chief Executive OfficerSale20,913$544.20$11.4MForm 4
Aug 14, 2026Jenkins DusteeChief Public Affairs OfficerSale3,810$512.92$2.0MForm 4
Aug 3, 2026Norstrom AlexCo-Chief Executive OfficerSale5,436$502.11$2.7MForm 4
Aug 3, 2026Soderstrom GustavCo-Chief Executive OfficerSale20,833$507.24$10.6MForm 4
Jul 6, 2026Norstrom AlexCo-Chief Executive OfficerSale5,436$480.86$2.6MForm 4
Jul 6, 2026Soderstrom GustavCo-Chief Executive OfficerSale20,833$478.45$10.0MForm 4
Jun 2, 2026Soderstrom GustavCo-Chief Executive OfficerSale20,833$496.52$10.3MForm 4
Jun 2, 2026Norstrom AlexCo-Chief Executive OfficerSale5,436$498.27$2.7MForm 4
May 26, 2026STAGGS THOMAS ODirectorSale5,477$526.00$2.9MForm 4
May 26, 2026Marshall Christopher PDirectorSale2,650$519.86$1.4MForm 4
May 22, 2026Lorentzon Sven Hans MartinDirectorSale35,380$525.73$18.6MForm 4
May 5, 2026Soderstrom GustavCo-Chief Executive OfficerSale20,833$430.72$9.0MForm 4
May 5, 2026Norstrom AlexCo-Chief Executive OfficerSale5,436$433.07$2.4MForm 4
Apr 1, 2026Soderstrom GustavCo-Chief Executive OfficerSale20,833$473.52$9.9MForm 4
Apr 1, 2026Norstrom AlexCo-Chief Executive OfficerSale5,436$479.51$2.6MForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Members of Congress who traded it

30 trades disclosed by members of Congress, the latest 25. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.

DateMemberTradeAmountVs S&P sinceFiling
Jun 18, 2026Gilbert Ray Cisneros, Jr.Democratic, HouseSale$1,001 - $15,000−10.1%Report
Mar 30, 2026Alan ArmstrongRepublican, SenateBuy$1,001 - $15,000−10.4%Report
Dec 24, 2025Gilbert Ray Cisneros, Jr.Democratic, HousePartial sale$1,001 - $15,000+21.3%Report
Nov 26, 2025Gilbert Ray Cisneros, Jr.Democratic, HousePartial sale$1,001 - $15,000+24.0%Report
Nov 18, 2025Gilbert Ray Cisneros, Jr.Democratic, HouseBuy$1,001 - $15,000−33.5%Report
Sep 10, 2025Val T. HoyleDemocratic, HouseSale$1,001 - $15,000+42.9%Report
Jun 5, 2025Robert P. Bresnahan, Jr.Republican, HouseBuy$1,001 - $15,000−55.7%Report
May 12, 2025Jefferson ShreveRepublican, HouseSale$50,001 - $100,000+46.9%Report
Apr 21, 2025Bruce WestermanRepublican, HouseSale$1,001 - $15,000+55.2%Report
Apr 11, 2025Jefferson ShreveRepublican, HouseBuy$15,001 - $50,000−46.9%Report
Mar 24, 2025Josh GottheimerDemocratic, HousePartial sale$1,001 - $15,000+46.7%Report
Mar 20, 2025Bruce WestermanRepublican, HouseBuy$1,001 - $15,000−47.2%Report
Mar 13, 2025Val T. HoyleDemocratic, HouseBuy$1,001 - $15,000−41.3%Report
Feb 21, 2025Josh GottheimerDemocratic, HousePartial sale$1,001 - $15,000+41.2%Report
Aug 5, 2024Josh GottheimerDemocratic, HouseBuy$1,001 - $15,000+14.7%Report
Jul 13, 2023Josh GottheimerDemocratic, HouseBuy$1,001 - $15,000+138.6%Report
Dec 28, 2021Thomas R. SuozziDemocratic, HouseSale$50,001 - $100,000−65.2%Report
Aug 26, 2021Thomas R. SuozziDemocratic, HouseBuy$50,001 - $100,000+63.4%Report
Jul 22, 2021Josh GottheimerDemocratic, HouseSale$1,001 - $15,000−40.2%Report
May 5, 2021Thomas R. SuozziDemocratic, HouseSale$50,001 - $100,000−36.0%Report
Apr 13, 2021Marie Newman, HouseBuy$1,001 - $15,000−5.8%Report
Apr 13, 2021Marie Newman, HouseSale$15,001 - $50,000+5.8%Report
Apr 9, 2021Marie Newman, HouseBuy$15,001 - $50,000+2.6%Report
Apr 8, 2021Thomas R. SuozziDemocratic, HouseBuy$1,001 - $15,000+0.0%Report
Apr 7, 2021Josh GottheimerDemocratic, HousePartial sale$1,001 - $15,000+0.3%Report

Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).

SEC filer profile

How Spotify Technology is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARSpotify Technology S.A.2
  • CIK0001639920
  • Filer statusLarge accelerated filer not an emerging growth company; not a shell company7
  • Incorporated inGrand Duchy of Luxembourg7
  • Fiscal year endsDecember 312
  • Industry code (SIC)4832 Radio Broadcasting Stations2
  • SEC reviewing officeOffice of Technology, Division of Corporation Finance2
  • Business address33 Boulevard Prince Henri, Luxembourg, Luxembourg2
  • Phone1-917-748-66102
  • Shares outstanding205,832,527 shares as of Dec 31, 20257
  • AuditorErnst & Young AB, Stockholm, Sweden PCAOB ID 1433; it also attests to the company’s internal control over financial reporting7
  • On EDGAR sinceJun 12, 20152
  • Filings381 in all: 144 (123), 6-K (95), 4 (56), SC 13G/A (28), 3 (16), S-8 (10), SC 13G (9), 20-F (8)2
    All 28 form types

    FWP (4), 144/A (3), CORRESP (3), F-1/A (3), SCHEDULE 13G/A (3), UPLOAD (3), D (2), DRSLTR (2), EFFECT (2), 424B3 (1), 424B4 (1), 8-A12B (1), CERT (1), CT ORDER (1), DRS (1), DRS/A (1), F-1 (1), POS AM (1), S-8 POS (1), SCHEDULE 13G (1)

  • Latest filingsAnnual report (20-F) Feb 10, 2026

Securities registered for trading

ClassSymbolExchange
Ordinary Shares (par value of €0.000625 per share)SPOTNew York Stock Exchange

From the cover page of the 20-F filed Feb 10, 2026 (Section 12(b) of the Exchange Act).7

Sources

The numbers on this page point here. Each one links to the record it came from.

  1. 1
  2. 2
  3. 3
  4. 4
  5. 5
  6. 6
  7. 7
  8. 8
  9. 9
  10. 10
  11. 11
  12. 12
  13. 13
  14. 14
  15. 15
  16. 16
  17. 17
  18. 18
  19. 19
  20. 20
  21. 21
    Wikidata and SEC EDGARDaniel Ek, Board member
  22. 22
  23. 23
  24. 24
  25. 25
  26. 26
  27. 27
  28. 28
  29. 29
  30. 30
  31. 31
  32. 32
  33. 33
  34. 34
  35. 35