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Spotify Technology (SPOT) Cost of Revenue (2017 - 2026)

Spotify Technology's Cost of Revenue history spans 10 years, with the latest figure at $3.6 billion for Q1 2026.

  • On a quarterly basis, Cost of Revenue rose 18.06% to $3.6 billion in Q1 2026 year-over-year; TTM through Mar 2026 was $13.8 billion, a 14.57% increase, with the full-year FY2025 number at $13.6 billion, up 16.3% from a year prior.
  • Cost of Revenue hit $3.6 billion in Q1 2026 for Spotify Technology, up from $3.5 billion in the prior quarter.
  • Over the last five years, Cost of Revenue for SPOT hit a ceiling of $3.6 billion in Q1 2026 and a floor of $2.2 billion in Q1 2022.
  • Historically, Cost of Revenue has averaged $2.9 billion across 5 years, with a median of $2.9 billion in 2023.
  • Biggest five-year swings in Cost of Revenue: increased 20.0% in 2023 and later rose 5.36% in 2025.
  • Tracing SPOT's Cost of Revenue over 5 years: stood at $2.4 billion in 2022, then increased by 20.0% to $2.9 billion in 2023, then grew by 6.07% to $3.1 billion in 2024, then rose by 14.92% to $3.5 billion in 2025, then grew by 0.77% to $3.6 billion in 2026.
  • Business Quant data shows Cost of Revenue for SPOT at $3.6 billion in Q1 2026, $3.5 billion in Q4 2025, and $3.4 billion in Q3 2025.