Spotify Technology (SPOT) EBITDA (2017 - 2026)
Spotify Technology's EBITDA was $811.05 million in Q3 2026, up 14.5% from $708.45 million a year earlier and up 2.0% from the prior quarter.
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Analysis
Spotify Technology (SPOT) EBITDA (2017 - 2026) Analysis & Trends
On a trailing twelve-month basis, Spotify Technology's EBITDA was $3.32 billion through Sep 30, 2026, up 44.1% year-over-year; for FY2025, it was $2.68 billion, up 68.6% from FY2024.
- In earlier years, EBITDA was $1.59 billion in FY2024, -$311.53 million in FY2023, -$514.33 million in FY2022 and $261.53 million in FY2021.
- Quarterly EBITDA has moved between -$221.05 million (Q2 2023) and $867.52 million (Q1 2026) over five years.
- Compared with a year earlier, EBITDA has increased for seven straight quarters, with growth averaging 62.1% over the last seven quarters.
- The best year-over-year quarter for EBITDA over five years was Q3 2024 (growth of 618.1%); the worst was Q1 2022 (a decline of 34.4%).
- Per Business Quant data, SPOT's EBITDA in the three quarters before Q3 2026 was $795.06 million (Q2 2026), $867.52 million (Q1 2026) and $845.1 million (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 3,394.62 Bn | 3,078.49 Bn | - | - |
| 2 | Meta Platforms | 1,562.01 Bn | 1,562.01 Bn | - | - |
| 3 | Netflix | 255.92 Bn | 217.22 Bn | 6.80 Bn | 8.80 Bn |
| 4 | Alibaba Group Holding | 227.02 Bn | 40.65 Bn | 15.16 Bn | - |
| 5 | Shopify | 203.21 Bn | 180.40 Bn | 1.71 Bn | 495.00 Mn |
| 6 | Uber Technologies | 132.34 Bn | 104.14 Bn | 6.38 Bn | 2.09 Bn |
| 7 | Spotify Technology | 121.64 Bn | 78.55 Bn | 1.89 Bn | 811.05 Mn |
| 8 | Booking Holdings | 113.63 Bn | 46.68 Bn | - | 2.63 Bn |
| 9 | PDD Holdings | 109.85 Bn | -134.20 Bn | 9.48 Bn | - |
| 10 | Airbnb | 97.28 Bn | 50.51 Bn | 2.98 Bn | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 811.05 Mn |
| Jun 30, 2026 | 795.06 Mn |
| Mar 31, 2026 | 867.52 Mn |
| Dec 31, 2025 | 845.10 Mn |
| Sep 30, 2025 | 708.45 Mn |
| Jun 30, 2025 | 489.01 Mn |
| Mar 31, 2025 | 563.81 Mn |
| Dec 31, 2024 | 541.78 Mn |
| Sep 30, 2024 | 531.54 Mn |
| Jun 30, 2024 | 318.76 Mn |
| Mar 31, 2024 | 216.19 Mn |
| Dec 31, 2023 | -44.11 Mn |
| Sep 30, 2023 | 74.02 Mn |
| Jun 30, 2023 | -221.05 Mn |
| Mar 31, 2023 | -120.21 Mn |
| Dec 31, 2022 | -184.66 Mn |
| Sep 30, 2022 | -185.52 Mn |
| Jun 30, 2022 | -164.33 Mn |
| Mar 31, 2022 | 34.79 Mn |
| Dec 31, 2021 | 29.74 Mn |
API Access
Spotify Technology EBITDA 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=ebitda&ticker=SPOT&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ebitda", "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=ebitda&ticker=SPOT&period=max&api_key=YOUR_API_KEY");
const data = await res.json();