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

Spotify Technology has disclosed Cost of Revenue across 10 years of filings, most recently posting $3.6 billion for Q1 2026.

• Cost of Revenue for Q1 2026 came in at $3.6 billion, up 18.06% year-over-year; the trailing twelve-month figure through Mar 2026 was $13.8 billion (up 14.57% YoY), and the FY2025 annual result was $13.6 billion, up 16.3% from the prior year.
• Cost of Revenue came in at $3.6 billion for Q1 2026 at Spotify Technology, up from $3.5 billion in the prior quarter.
• In the past five years, Cost of Revenue ranged from a high of $3.6 billion in Q1 2026 to a low of $2.2 billion in Q1 2022.
• The 5-year median for Cost of Revenue is $2.9 billion (2023), against an average of $2.9 billion.
• Across the five-year window, Cost of Revenue rose 20.0% in 2023 and gained 5.36% in 2025, its largest moves.
• Spotify Technology's Cost of Revenue stood at $2.4 billion in 2022, then grew by 20.0% to $2.9 billion in 2023, then climbed by 6.07% to $3.1 billion in 2024, then advanced by 14.92% to $3.5 billion in 2025, then rose by 0.77% to $3.6 billion in 2026.
• The last three Cost of Revenue figures came in at $3.6 billion (Q1 2026), $3.5 billion (Q4 2025), and $3.4 billion (Q3 2025), per Business Quant data.