Spotify Technology (SPOT) Gross Margin (2017 - 2026)
Spotify Technology (SPOT) posted Gross Margin of 33.41% for the quarter ended Jun 30, 2026, up 1.93 percentage points from 31.48% a year earlier and up 0.43 percentage points from the prior quarter.
Spotify Technology (SPOT) Gross Margin (2017 - 2026) Analysis & Trends
For the trailing twelve months through Jun 30, 2026, Gross Margin at Spotify Technology was 32.80%, up 1.18 percentage points year-over-year; for the year ended Dec 31, 2025, it was 31.98%, up 1.84 percentage points from the prior year.
- Annual Gross Margin has increased for three consecutive years, with a five-year change of +6.41 percentage points (years ended Dec 2020 to Dec 2025).
- In prior years, Spotify Technology's Gross Margin was 30.14% in the year ended Dec 31, 2024 (+4.50 pp), 25.64% in the year ended Dec 31, 2023 (+0.69 pp), 24.95% in the year ended Dec 31, 2022 (-1.85 pp) and 26.80% in the year ended Dec 31, 2021 (+1.23 pp).
- The figure for the quarter ended Jun 30, 2026 stands as the highest quarterly Gross Margin in data going back to the quarter ended Mar 31, 2017.
- On a year-over-year basis, Gross Margin has increased in each of the last 12 quarters, with an average year-over-year change of +2.65 percentage points over the last eight quarters.
- The strongest year-over-year quarter for Gross Margin in the past five years was the quarter ended Dec 31, 2024, with a gain of 5.55 percentage points; the weakest was the quarter ended Jun 30, 2022, with a drop of 3.86 percentage points.
- According to Business Quant data, Gross Margin for the three prior quarters was 32.98% (quarter ended Mar 31, 2026), 33.08% (quarter ended Dec 31, 2025) and 31.62% (quarter ended Sep 30, 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 4,273.02 Bn | 4,030.55 Bn | 73.85 Bn | 61.65% |
| 2 | Meta Platforms | 1,882.67 Bn | 1,585.19 Bn | 49.47 Bn | 81.37% |
| 3 | Netflix | 292.72 Bn | 252.92 Bn | 6.52 Bn | 51.93% |
| 4 | Alibaba Group Holding | 258.66 Bn | 82.26 Bn | 15.11 Bn | 38.11% |
| 5 | Shopify | 221.29 Bn | 198.47 Bn | 1.71 Bn | 47.67% |
| 6 | Uber Technologies | 145.86 Bn | 117.84 Bn | 6.38 Bn | 44.93% |
| 7 | Booking Holdings | 120.48 Bn | 53.53 Bn | - | - |
| 8 | PDD Holdings | 115.79 Bn | -126.92 Bn | 9.45 Bn | 57.06% |
| 9 | Spotify Technology | 108.98 Bn | 66.21 Bn | 1.86 Bn | 33.41% |
| 10 | Airbnb | 97.86 Bn | 51.09 Bn | 2.98 Bn | 82.46% |
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 33.41% |
| Mar 31, 2026 | 32.98% |
| Dec 31, 2025 | 33.08% |
| Sep 30, 2025 | 31.62% |
| Jun 30, 2025 | 31.48% |
| Mar 31, 2025 | 31.65% |
| Dec 31, 2024 | 32.25% |
| Sep 30, 2024 | 31.09% |
| Jun 30, 2024 | 29.21% |
| Mar 31, 2024 | 27.61% |
| Dec 31, 2023 | 26.70% |
| Sep 30, 2023 | 26.36% |
| Jun 30, 2023 | 24.11% |
| Mar 31, 2023 | 25.18% |
| Dec 31, 2022 | 25.30% |
| Sep 30, 2022 | 24.70% |
| Jun 30, 2022 | 24.58% |
| Mar 31, 2022 | 25.22% |
| Dec 31, 2021 | 26.48% |
| Sep 30, 2021 | 26.71% |
Spotify Technology Gross Margin 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=gross-margin&ticker=SPOT&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "gross-margin", "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=gross-margin&ticker=SPOT&period=max&api_key=YOUR_API_KEY");
const data = await res.json();