Spotify Technology Balance Sheet

Financials in millions EUR. Fiscal year is January - December.

Millions EUR. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Equivalents	5,258	4,781	3,114	2,483	2,744
Short-Term Investments	2,458	1,972	859	867	689
Cash & Short-Term Investments	7,716	6,753	3,973	3,350	3,433
Cash Growth	14.26%	69.97%	18.60%	-2.42%	133.38%
Accounts Receivable	536	540	602	502	437
Other Receivables	382	259	276	193	189
Receivables	918	799	878	695	626
Prepaid Expenses	75	71	64	89	74
Other Current Assets	1,787	756	345	218	239
Total Current Assets	10,496	8,379	5,260	4,352	4,372
Property, Plant & Equipment	422	414	547	765	809
Long-Term Investments	2,181	1,635	1,215	1,138	916
Goodwill	1,083	1,201	1,137	1,168	894
Other Intangible Assets	29	40	71	108	58
Long-Term Accounts Receivable	69	74	-	-	-
Long-Term Deferred Tax Assets	662	186	28	8	13
Long-Term Deferred Charges	12	8	13	19	31
Other Long-Term Assets	61	68	75	78	77
Total Assets	15,015	12,005	8,346	7,636	7,170
Accounts Payable	783	933	662	588	534
Accrued Expenses	2,904	2,607	2,666	2,287	2,034
Current Portion of Long-Term Debt	1,458	-	-	-	-
Current Portion of Leases	65	75	65	58	44
Current Income Taxes Payable	72	33	12	11	23
Current Unearned Revenue	711	683	622	520	458
Other Current Liabilities	92	119	63	52	133
Total Current Liabilities	6,085	4,450	4,090	3,516	3,226
Long-Term Debt	-	1,539	1,203	1,128	1,202
Long-Term Leases	433	462	493	555	579
Long-Term Deferred Tax Liabilities	163	21	8	5	-
Other Long-Term Liabilities	5	8	29	31	44
Total Liabilities	6,686	6,480	5,823	5,235	5,051
Additional Paid-In Capital	6,496	6,124	5,155	4,789	4,746
Retained Earnings	-832	-3,044	-4,182	-3,647	-3,220
Treasury Stock	-701	-262	-262	-262	-260
Comprehensive Income & Other	3,366	2,707	1,812	1,521	853
Shareholders' Equity	8,329	5,525	2,523	2,401	2,119
Total Liabilities & Equity	15,015	12,005	8,346	7,636	7,170
Total Debt	1,956	2,076	1,761	1,741	1,825
Net Cash (Debt)	5,760	4,677	2,212	1,609	1,608
Net Cash Growth	23.16%	111.44%	37.48%	0.06%	86.33%
Net Cash Per Share	27.36	22.60	11.36	8.22	8.29
Filing Date Shares Outstanding	205.83	203.84	197.14	193.29	192.15
Total Common Shares Outstanding	205.83	203.84	197.14	193.29	192.15
Working Capital	4,411	3,929	1,170	836	1,146
Book Value Per Share	40.46	27.10	12.80	12.42	11.03
Tangible Book Value	7,217	4,284	1,315	1,125	1,167
Tangible Book Value Per Share	35.06	21.02	6.67	5.82	6.07
Leasehold Improvements	348	394	444	448	422

Source: S&P Global Market Intelligence. Standard template. Financial Sources.