Spotify Technology Cash Flow Statement

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

Millions EUR. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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
Net Income	2,708	2,212	1,138	-532	-430	-34
Depreciation & Amortization	101	102	121	158	171	127
Stock-Based Compensation	261	247	267	321	381	223
Other Adjustments	-286	4	272	239	-208	134
Change in Receivables	-20	-115	145	-145	-84	-245
Changes in Accounts Payable	277	281	183	501	226	137
Changes in Accrued Expenses	7	22	3	-5	-3	5
Changes in Income Taxes Payable	-103	-86	-53	-43	-43	-6
Changes in Unearned Revenue	92	60	45	113	52	67
Changes in Other Operating Activities	193	206	180	73	-16	-47
Operating Cash Flow	2,394	2,933	2,301	680	46	361
Operating Cash Flow Growth	-8.94%	27.47%	238.38%	1378.26%	-87.26%	39.38%
Capital Expenditures	-60	-61	-17	-6	-25	-85
Purchases of Investments	-22,082	-19,271	-7,275	-1,590	-457	-497
Proceeds from Sale of Investments	21,399	17,545	5,804	1,379	368	519
Payments for Business Acquisitions	-2	-18	-10	-7	-306	-115
Other Investing Activities	15	20	12	7	-3	-9
Investing Cash Flow	-739	-1,785	-1,486	-217	-423	-187
Long-Term Debt Issued	-	-	-	-	-	1,223
Long-Term Debt Repaid	-1,375	-73	-69	-66	-43	-35
Net Long-Term Debt Issued (Repaid)	-1,375	-73	-69	-66	-43	1,188
Issuance of Common Stock	232	372	933	366	43	198
Repurchase of Common Stock	-975	-680	-135	-68	-42	-143
Net Common Stock Issued (Repurchased)	-743	-308	798	298	1	55
Other Financing Activities	-	-	-	2	2	7
Financing Cash Flow	-2,118	-381	729	234	-40	1,250
Effect of Exchange Rate Changes on Cash and Cash Equivalents	-137	-290	123	-66	156	169
Net Cash Flow	373	767	1,544	697	-417	1,424
Free Cash Flow	2,334	2,872	2,284	674	21	276
Free Cash Flow Growth	-18.73%	25.74%	238.87%	3109.52%	-92.39%	52.49%
FCF Margin	13.32%	16.71%	14.57%	5.09%	0.18%	2.85%
Free Cash Flow Per Share	11.10	13.64	11.03	3.46	0.11	1.42
Levered Free Cash Flow	1,840	2,663	1,531	193	-111	1,352
Unlevered Free Cash Flow	2,805	2,710	1,620	321.15	-403.87	185.17

SEC Filings: 10-K · 10-Q