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

Spotify Technology has reported Cost of Revenue for 10 years, with the latest figure at $3.6 billion in Q1 2026.

• Quarterly Cost of Revenue rose 18.06% year-over-year to $3.6 billion in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $13.8 billion (up 14.57% YoY) and the FY2025 annual result came in at $13.6 billion, up 16.3% from the prior year.
• Cost of Revenue improved to $3.6 billion in Q1 2026 per SPOT's latest filing, from $3.5 billion in the prior quarter.
• Over five years, Cost of Revenue peaked at $3.6 billion in Q1 2026 and troughed at $2.2 billion in Q1 2022.
• A 5-year average of $2.9 billion and a median of $2.9 billion in 2023 frame the typical range for Cost of Revenue.
• The sharpest annual moves came in 2023 and 2025: Cost of Revenue advanced 20.0% in 2023, then climbed 5.36% in 2025.
• Over 5 years, Cost of Revenue stood at $2.4 billion in 2022, then rose by 20.0% to $2.9 billion in 2023, then increased by 6.07% to $3.1 billion in 2024, then grew by 14.92% to $3.5 billion in 2025, then advanced by 0.77% to $3.6 billion in 2026.
• According to Business Quant data, Cost of Revenue over the past three periods registered $3.6 billion, $3.5 billion, and $3.4 billion for Q1 2026, Q4 2025, and Q3 2025 respectively.