Spotify Technology (SPOT) Operating Margin (2017 - 2026)

Spotify Technology has disclosed Operating Margin across 10 years of filings, most recently posting 13.71% for Q2 2026.

• In Q2 2026, Operating Margin rose 403.0% year-over-year to 13.71%; the TTM figure through Jun 2026 stood at 14.65% (up 356.0% YoY), while the FY2025 annual figure was 12.79%, up 408.0% from the prior year.
• Operating Margin came in at 13.71% for Q2 2026 at Spotify Technology, down from 15.77% in the prior quarter.
• In the past five years, Operating Margin ranged from a high of 15.77% in Q1 2026 to a low of 7.77% in Q2 2023.
• Average Operating Margin over 5 years is 4.38%, with a median of 5.8% recorded in 2024.
• Year-over-year, Operating Margin sank 1051 bps in 2022 and surged 1476 bps in 2024.
• Over 5 years, Operating Margin stood at 7.3% in 2022, then surged by 72 bps to 2.04% in 2023, then surged by 650 bps to 11.24% in 2024, then jumped by 38 bps to 15.47% in 2025, then retreated by 11 bps to 13.71% in 2026.
• Per Business Quant data, the three most recent Operating Margin figures were 13.71% in Q2 2026, 15.77% in Q1 2026, and 15.47% in Q4 2025.