Spotify Technology S.A annual operating margin
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
Spotify Technology S.A Operating Margin Growth & History (SPOT)
Spotify Technology S.A's operating margin was 12.79% for fiscal 2025.
View full Spotify Technology S.A company overviewSpotify Technology S.A annual operating margin history
| Fiscal year | Period ended | Operating margin | Change (percentage points) |
|---|---|---|---|
| 2025 | 2025-12-31 | 12.79% | +4.08 pp |
| 2024 | 2024-12-31 | 8.71% | +12.08 pp |
| 2023 | 2023-12-31 | −3.37% | +2.25 pp |
| 2022 | 2022-12-31 | −5.62% | −6.59 pp |
| 2021 | 2021-12-31 | 0.97% | +4.69 pp |
| 2020 | 2020-12-31 | −3.72% | −2.64 pp |
| 2019 | 2019-12-31 | −1.08% | −0.26 pp |
| 2018 | 2018-12-31 | −0.82% | +8.42 pp |
| 2017 | 2017-12-31 | −9.24% | +2.58 pp |
| 2016 | 2016-12-31 | −11.82% | — |
Spotify Technology S.A quarterly operating margin
Q1.22
Q2.22
Q3.22
Q4.22
Q1.23
Q2.23
Q3.23
Q4.23
Q1.24
Q2.24
Q3.24
Q4.24
Q1.25
Q2.25
Q3.25
Q4.25
Q1.26
Q2.26
| Fiscal quarter | Period ended | Operating margin | Change (percentage points) |
|---|---|---|---|
| Q2 2026 | 2026-06-30 | 13.71% | +4.03 pp |
| Q1 2026 | 2026-03-31 | 15.77% | +3.63 pp |
| Q4 2025 | 2025-12-31 | 15.47% | +4.23 pp |
| Q3 2025 | 2025-09-30 | 13.62% | +2.24 pp |
| Q2 2025 | 2025-06-30 | 9.68% | +2.70 pp |
| Q1 2025 | 2025-03-31 | 12.15% | +7.53 pp |
| Q4 2024 | 2024-12-31 | 11.24% | +13.29 pp |
| Q3 2024 | 2024-09-30 | 11.38% | +10.43 pp |
| Q2 2024 | 2024-06-30 | 6.99% | +14.76 pp |
| Q1 2024 | 2024-03-31 | 4.62% | +9.75 pp |
| Q4 2023 | 2023-12-31 | −2.04% | +5.25 pp |
| Q3 2023 | 2023-09-30 | 0.95% | +8.46 pp |
| Q2 2023 | 2023-06-30 | −7.77% | −1.00 pp |
| Q1 2023 | 2023-03-31 | −5.13% | −4.90 pp |
| Q4 2022 | 2022-12-31 | −7.30% | — |
| Q3 2022 | 2022-09-30 | −7.51% | — |
| Q2 2022 | 2022-06-30 | −6.77% | — |
| Q1 2022 | 2022-03-31 | −0.23% | — |
Spotify Technology S.A operating margin trends
Over the last five reported fiscal years, Spotify Technology S.A's operating margin increased from −3.72% to 12.79%, a change of +16.51 percentage points. The latest reported quarter, Q2 2026, shows 13.71%.
About the metric
What operating margin means
Operating margin measures the percentage of revenue left after operating costs and expenses. It shows how much operating profit a company generates from each dollar of revenue.
Calculation and source
How operating margin is calculated
TickerStat calculates operating margin as SEC-reported operating income divided by SEC-reported revenue for the same fiscal period. Changes are shown in percentage points. Fiscal periods can differ from calendar years, so exact period-end dates are included.
Review Spotify Technology S.A filings at SEC.gov ↗