← Spotify Technology S.A.
| Annual Trend | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Net income/(loss) | ($539.0m) | ($1.2b) | ($78.0m) | ($186.0m) | ($581.0m) | ($34.0m) | ($430.0m) | ($532.0m) | $1.1b | $2.2b | |
| Depreciation of property and equipment and lease right-of-use assets | $32.0m | $46.0m | $21.0m | $71.0m | $86.0m | $94.0m | $118.0m | $110.0m | $85.0m | $79.0m | |
| Amortization of intangible assets | $6.0m | $8.0m | $11.0m | $16.0m | $25.0m | $33.0m | $53.0m | $48.0m | $36.0m | $23.0m | |
| Impairment charges on real estate assets | — | — | — | — | — | $0 | $0 | $123.0m | $43.0m | $8.0m | |
| Share-based compensation expense | $53.0m | $65.0m | $88.0m | $122.0m | $176.0m | $223.0m | $381.0m | $321.0m | $267.0m | $247.0m | |
| Income tax expense | $4.0m | $2.0m | ($95.0m) | $55.0m | ($128.0m) | $283.0m | $60.0m | $27.0m | $203.0m | $12.0m | |
| Write-off of content assets | — | — | — | — | — | $0 | $0 | $29.0m | $0 | $0 | |
| Finance income | ($152.0m) | ($118.0m) | ($455.0m) | ($275.0m) | ($94.0m) | ($246.0m) | ($421.0m) | ($161.0m) | ($328.0m) | ($292.0m) | |
| Finance costs | $336.0m | $974.0m | $584.0m | $333.0m | $510.0m | $91.0m | $132.0m | $220.0m | $352.0m | $266.0m | |
| Other | $22.0m | $5.0m | $1.0m | ($6.0m) | ($30.0m) | ($10.0m) | ($3.0m) | $3.0m | ($8.0m) | ($5.0m) | |
| (Increase)/decrease in trade receivables and other assets | ($60.0m) | ($112.0m) | ($61.0m) | ($27.0m) | ($187.0m) | ($245.0m) | ($84.0m) | ($145.0m) | $145.0m | ($115.0m) | |
| Increase in trade and other liabilities | $245.0m | $447.0m | $291.0m | $454.0m | $425.0m | $137.0m | $226.0m | $501.0m | $183.0m | $281.0m | |
| Increase in deferred revenue | $77.0m | $77.0m | $38.0m | $59.0m | $73.0m | $67.0m | $52.0m | $113.0m | $45.0m | $60.0m | |
| Increase/(decrease) in provisions | $38.0m | $8.0m | ($17.0m) | ($35.0m) | $6.0m | $5.0m | ($3.0m) | ($5.0m) | $3.0m | $22.0m | |
| Interest received | $5.0m | $19.0m | $18.0m | $14.0m | $4.0m | $3.0m | $37.0m | $111.0m | $216.0m | $242.0m | |
| Payment of deferred consideration pertaining to business combinations | — | — | — | — | — | ($12.0m) | ($11.0m) | ($7.0m) | ($10.0m) | ($9.0m) | |
| Purchases of property and equipment | ($27.0m) | ($36.0m) | ($125.0m) | ($135.0m) | ($78.0m) | ($85.0m) | ($25.0m) | ($6.0m) | ($17.0m) | ($61.0m) | |
| Payments of lease liabilities | — | $0 | $0 | ($17.0m) | ($24.0m) | ($35.0m) | ($43.0m) | ($66.0m) | ($69.0m) | ($73.0m) | |
| Lease incentives received | — | $0 | $0 | $15.0m | $20.0m | $7.0m | $2.0m | $2.0m | $0 | $0 | |
| Repurchases of ordinary shares | $0 | $0 | ($72.0m) | ($438.0m) | $0 | ($89.0m) | ($2.0m) | $0 | $0 | ($439.0m) | |
| Proceeds from exercise of stock options | $33.0m | $29.0m | $163.0m | $154.0m | $319.0m | $167.0m | $43.0m | $366.0m | $933.0m | $372.0m | |
| Payments for employee taxes withheld from restricted stock unit releases | — | — | — | ($6.0m) | ($30.0m) | ($54.0m) | ($40.0m) | ($68.0m) | ($135.0m) | ($241.0m) | |
| Recognition of lease right-of-use asset in exchange for lease liabilities | — | $0 | $0 | $136.0m | $29.0m | $23.0m | $20.0m | $22.0m | $25.0m | $85.0m | |
| Real estate assets disposed of in exchange for finance lease receivables | — | — | — | — | — | — | $0 | $0 | $62.0m | $9.0m | |
| Issuance of ordinary shares upon net settlement of warrants | — | — | — | — | — | — | $0 | $0 | $36.0m | $0 | |
| Net cash flows from operating activities | $101.0m | $179.0m | $344.0m | $573.0m | $259.0m | $361.0m | $46.0m | $680.0m | $2.3b | $2.9b | |
| Business combinations, net of cash acquired | — | ($49.0m) | ($9.0m) | ($331.0m) | ($336.0m) | ($115.0m) | ($306.0m) | $0 | $0 | ($9.0m) | |
| Purchases of short term investments | ($1.4b) | ($1.4b) | ($1.1b) | ($901.0m) | ($1.4b) | ($497.0m) | ($457.0m) | ($1.6b) | ($7.3b) | ($19.3b) | |
| Sales and maturities of short term investments | $609.0m | $1.1b | $1.2b | $1.2b | $1.4b | $375.0m | $368.0m | $1.4b | $5.8b | $17.5b | |
| Net cash flows used in investing activities | ($827.0m) | ($435.0m) | ($22.0m) | ($218.0m) | ($372.0m) | ($187.0m) | ($423.0m) | ($217.0m) | ($1.5b) | ($1.8b) | |
| Dividends received | — | — | — | — | — | — | $0 | $0 | $19.0m | $23.0m | |
| Net cash flows (used in)/from financing activities | $916.0m | $34.0m | $92.0m | ($203.0m) | $285.0m | $1.2b | ($40.0m) | $234.0m | $729.0m | ($381.0m) | |
| Net increase in cash and cash equivalents | — | ($222.0m) | $414.0m | $152.0m | $172.0m | $1.4b | ($417.0m) | $697.0m | $1.5b | $767.0m | |
| Change in restricted cash | ($1.0m) | ($34.0m) | ($10.0m) | $2.0m | $2.0m | $1.0m | $0 | $4.0m | $1.0m | $2.0m | |
| Cash and cash equivalents at January 1 | $755.0m | $477.0m | $891.0m | $1.1b | $1.2b | $2.7b | $2.5b | $3.1b | $4.8b | $5.3b | |
| Net foreign exchange (losses)/gains on cash and cash equivalents | ($32.0m) | ($56.0m) | $0 | $22.0m | ($86.0m) | $169.0m | $156.0m | ($66.0m) | $123.0m | ($290.0m) | |
| Interest paid | — | $0 | $0 | ($37.0m) | ($55.0m) | ($50.0m) | ($53.0m) | ($38.0m) | ($36.0m) | ($36.0m) | |
| Income tax paid | ($4.0m) | $2.0m | ($9.0m) | ($4.0m) | ($8.0m) | ($6.0m) | ($43.0m) | ($43.0m) | ($53.0m) | ($86.0m) |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.