Spotify Technology (SPOT) Operating Expenses (2017 - 2026)
Spotify Technology (SPOT) posted Operating Expenses of $512.8 million for Q1 2026, up 10.41% sequentially from $464.5 million in Q4 2025, and down 3.08% YoY from $529.1 million in Q1 2025.
Spotify Technology (SPOT) Operating Expenses (2017 - 2026) Analysis & Trends
Spotify Technology has reported Operating Expenses for 10 years, with the latest figure at $512.8 million in Q1 2026.
- Quarterly Operating Expenses fell 3.08% year-over-year to $512.8 million in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $2.1 billion (down 0.51% YoY) and the FY2025 annual result came in at $3.8 billion, up 6.95% from the prior year.
- Operating Expenses improved to $512.8 million in Q1 2026 per SPOT's latest filing, from $464.5 million in the prior quarter.
- Over five years, Operating Expenses peaked at $670.3 million in Q4 2023 and troughed at $427.6 million in Q1 2022.
- A 5-year average of $550.4 million and a median of $541.7 million in 2024 frame the typical range for Operating Expenses.
- The sharpest annual moves came in 2022 and 2023: Operating Expenses plunged 99.73% in 2022, then jumped 44.33% in 2023.
- Over 5 years, Operating Expenses stood at $590.7 million in 2022, then grew by 13.47% to $670.3 million in 2023, then decreased by 20.61% to $532.2 million in 2024, then decreased by 12.72% to $464.5 million in 2025, then rose by 10.41% to $512.8 million in 2026.
- According to Business Quant data, Operating Expenses over the past three periods registered $512.8 million, $464.5 million, and $491.0 million for Q1 2026, Q4 2025, and Q3 2025 respectively.
Powered by 
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 4,250.36 Bn | 3,821.32 Bn | 73.85 Bn | 79.03 Bn |
| 2 | Meta Platforms | 1,547.59 Bn | 1,457.33 Bn | 49.47 Bn | 42.03 Bn |
| 3 | Taboola.com | 1,140.46 Bn | 1,140.32 Bn | 139.48 Mn | 132.22 Mn |
| 4 | Baidu | 287.92 Bn | 283.43 Bn | 1.88 Mn | 4.19 Bn |
| 5 | Spotify Technology | 105.84 Bn | 95.60 Bn | 1.75 Bn | 512.79 Mn |
| 6 | Joyy | 78.10 Bn | 77.21 Bn | 205.64 Mn | -187.82 Mn |
| 7 | BILI Social International | 60.58 Bn | 60.58 Bn | 405,933.00 | 303,858.00 |
| 8 | Nebius | 49.84 Bn | 40.21 Bn | 295.20 Mn | 527.00 Mn |
| 9 | 31.14 Bn | 28.35 Bn | 734.60 Mn | 573.19 Mn | |
| 10 | Tencent Music Entertainment | 27.38 Bn | 24.68 Bn | 514.00 Mn | -176.00 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| 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 | 220.28 Bn |
| Sep 30, 2021 | 183.03 Bn |
| Jun 30, 2021 | 447.99 Mn |