Spotify Technology (SPOT) Operating Expenses (2017 - 2026)
Spotify Technology's Operating Expenses was $640.46 million in the quarter ended Jun 30, 2026, up 2.9% from $622.58 million a year earlier and up 24.9% from the prior quarter.
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Analysis
Spotify Technology (SPOT) Operating Expenses (2017 - 2026) Analysis & Trends
On a trailing twelve-month basis, Spotify Technology's Operating Expenses was $2.11 billion through Jun 30, 2026, down 3.4% year-over-year; for the year ended Dec 31, 2025, it came in at $3.84 billion, up 7.0% from the prior year.
- Operating Expenses shows a five-year compound annual growth rate of 7.8% (years ended Dec 2020 to Dec 2025).
- In earlier years, Operating Expenses was $3.59 billion in the year ended Dec 31, 2024 (-13.2%), $4.13 billion in the year ended Dec 31, 2023 (+13.0%), $3.66 billion in the year ended Dec 31, 2022 (+28.0%) and $2.86 billion in the year ended Dec 31, 2021 (+8.4%).
- The figure for the quarter ended Jun 30, 2026 marks the highest quarterly Operating Expenses since the quarter ended Dec 31, 2023.
- Compared with a year earlier, Operating Expenses was higher in two of the last eight quarters, with an average decline of 4.1%.
- The best year-over-year quarter for Operating Expenses over five years was the quarter ended Sep 30, 2022 (growth of 49.1%); the worst was the quarter ended Dec 31, 2024 (a decline of 20.6%).
- Per Business Quant data, SPOT's Operating Expenses in the three quarters before the quarter ended Jun 30, 2026 was $512.79 million (quarter ended Mar 31, 2026), $464.45 million (quarter ended Dec 31, 2025) and $491 million (quarter ended Sep 30, 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 4,273.02 Bn | 4,030.55 Bn | 73.85 Bn | 79.03 Bn |
| 2 | Meta Platforms | 1,882.67 Bn | 1,585.19 Bn | 49.47 Bn | 42.03 Bn |
| 3 | Netflix | 292.72 Bn | 252.92 Bn | 6.52 Bn | 1.51 Bn |
| 4 | Alibaba Group Holding | 258.66 Bn | 82.26 Bn | 15.11 Bn | -5.17 Bn |
| 5 | Shopify | 221.29 Bn | 198.47 Bn | 1.71 Bn | 1.22 Bn |
| 6 | Uber Technologies | 145.86 Bn | 117.84 Bn | 6.38 Bn | 12.30 Bn |
| 7 | Booking Holdings | 120.48 Bn | 53.53 Bn | - | 4.85 Bn |
| 8 | PDD Holdings | 115.79 Bn | -126.92 Bn | 9.45 Bn | -5.39 Bn |
| 9 | Spotify Technology | 108.98 Bn | 66.21 Bn | 1.86 Bn | 640.46 Mn |
| 10 | Airbnb | 97.86 Bn | 51.09 Bn | 2.98 Bn | 2.85 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 640.46 Mn |
| Mar 31, 2026 | 512.79 Mn |
| Dec 31, 2025 | 464.45 Mn |
| Sep 30, 2025 | 491.00 Mn |
| Jun 30, 2025 | 622.58 Mn |
| Mar 31, 2025 | 529.10 Mn |
| Dec 31, 2024 | 532.16 Mn |
| Sep 30, 2024 | 498.59 Mn |
| Jun 30, 2024 | 541.67 Mn |
| Mar 31, 2024 | 556.22 Mn |
| Dec 31, 2023 | 670.31 Mn |
| Sep 30, 2023 | 542.12 Mn |
| Jun 30, 2023 | 668.60 Mn |
| Mar 31, 2023 | 617.17 Mn |
| Dec 31, 2022 | 590.72 Mn |
| Sep 30, 2022 | 550.52 Mn |
| Jun 30, 2022 | 541.00 Mn |
| Mar 31, 2022 | 427.61 Mn |
| Dec 31, 2021 | 433.56 Mn |
| Sep 30, 2021 | 369.12 Mn |
API Access
Spotify Technology Operating Expenses 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=operating-expenses&ticker=SPOT&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "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=operating-expenses&ticker=SPOT&period=max&api_key=YOUR_API_KEY");
const data = await res.json();