Spotify Technology (SPOT) Cash from Operations (2017 - 2026)
Spotify Technology (SPOT) recorded Cash from Operations of $851.32 million in Q3 2026, down 12.2% from $969.15 million a year earlier and down 10.2% from the prior quarter.
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Analysis
Spotify Technology (SPOT) Cash from Operations (2017 - 2026) Analysis & Trends
On a TTM basis, Spotify Technology's Cash from Operations came in at $3.77 billion as of Sep 30, 2026, up 15.0% year-over-year; for FY2025, it was $3.41 billion, up 38.9% from FY2024.
- Annual Cash from Operations has a five-year compound annual growth rate of 63.1% (FY2020 to FY2025).
- Across earlier years, Cash from Operations came in at $2.46 billion in FY2024 (+234.3%), $735.57 million in FY2023, $48.48 million in FY2022 (-88.7%) and $427.21 million in FY2021 (+44.5%).
- The Q3 2026 figure is the lowest quarterly Cash from Operations since Q2 2025.
- On a year-over-year basis, Cash from Operations rose in seven of the last eight quarters, with growth averaging 53.4%.
- Peak year-over-year performance for Cash from Operations in the last five years was growth of 469.5% in Q3 2023, against a decline of 72.2% in Q3 2022 at the low end.
- Per Business Quant, the preceding three quarters came in at $948.49 million (Q2 2026), $978.74 million (Q1 2026) and $996.42 million (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cash from Ops. (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 3,394.62 Bn | 3,078.49 Bn | - | 42.29 Bn |
| 2 | Meta Platforms | 1,562.01 Bn | 1,562.01 Bn | - | 32.79 Bn |
| 3 | Netflix | 255.92 Bn | 217.22 Bn | 6.80 Bn | 3.16 Bn |
| 4 | Alibaba Group Holding | 227.02 Bn | 40.65 Bn | 15.16 Bn | 3.38 Bn |
| 5 | Shopify | 203.21 Bn | 180.40 Bn | 1.71 Bn | 658.00 Mn |
| 6 | Uber Technologies | 132.34 Bn | 104.14 Bn | 6.38 Bn | 2.86 Bn |
| 7 | Spotify Technology | 121.64 Bn | 78.55 Bn | 1.89 Bn | 851.32 Mn |
| 8 | Booking Holdings | 113.63 Bn | 46.68 Bn | - | 3.72 Bn |
| 9 | PDD Holdings | 109.85 Bn | -134.20 Bn | 9.48 Bn | 3.77 Bn |
| 10 | Airbnb | 97.28 Bn | 50.51 Bn | 2.98 Bn | 1.27 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 851.32 Mn |
| Jun 30, 2026 | 948.49 Mn |
| Mar 31, 2026 | 978.74 Mn |
| Dec 31, 2025 | 996.42 Mn |
| Sep 30, 2025 | 969.15 Mn |
| Jun 30, 2025 | 802.56 Mn |
| Mar 31, 2025 | 566.97 Mn |
| Dec 31, 2024 | 943.57 Mn |
| Sep 30, 2024 | 785.23 Mn |
| Jun 30, 2024 | 529.83 Mn |
| Mar 31, 2024 | 229.22 Mn |
| Dec 31, 2023 | 427.15 Mn |
| Sep 30, 2023 | 229.69 Mn |
| Jun 30, 2023 | 14.16 Mn |
| Mar 31, 2023 | 63.33 Mn |
| Dec 31, 2022 | -71.42 Mn |
| Sep 30, 2022 | 40.33 Mn |
| Jun 30, 2022 | 41.62 Mn |
| Mar 31, 2022 | 41.53 Mn |
| Dec 31, 2021 | 136.13 Mn |
API Access
Spotify Technology Cash from Operations API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=cash-from-operations&ticker=SPOT&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "cash-from-operations", "ticker": "SPOT", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=cash-from-operations&ticker=SPOT&period=max&api_key=YOUR_API_KEY");
const data = await res.json();