Spotify Technology S.A. Financial Statements FY2021-FY2026Q2

Spotify Technology S.A. (SPOT) Financial Statements in Beancount — Open Ledger

Spotify Technology's income statement and balance sheet, FY2021 through FY2026Q2, as a public, auditable plain-text Beancount ledger — reconstructed line by line from the company's own Form 20-F and Form 6-K filings and version-controlled in git. Part of the Open Ledger project on beancount.io.

Browse it live: beancount.io/ledger/open_ledger/spotify

Latest analysis: Spotify Q2 2026 Earnings: 300 Million Premium Subscribers and a Record 33.4% Gross Margin Meet a €670M Q3 Guide

Key Figures

Amounts in MEUR (millions of euros), exactly as the ledger records them.

What's Inside

Fiscal years end December 31. All figures sourced from Spotify Technology S.A. filings on SEC EDGAR (CIK 0001639920): the audited consolidated financial statements in Form 20-F for FY2021–FY2025 and the interim condensed consolidated financial statements on Form 6-K for quarters; each period file cites its filing. Spotify reports under IFRS in euros, so the ledger's unit is MEUR and no amount is converted.

Quick Start

uvx --from beancount bean-check main.bean
uvx --from beanquery bean-query main.bean \
  "SELECT year, sum(position) WHERE account ~ '^Income:Revenue' GROUP BY year ORDER BY year"

Zero output from bean-check means the ledger is internally consistent: every
income statement sums to zero and every balance-sheet snapshot reconciles to
the filed totals. The query prints revenue by calendar year; income is a
credit, so it shows as a negative number. Open main.bean in Fava
or import it into beancount.io to explore it visually.

Methodology

• Balance sheet — pad / balance directives assert each period-end
  figure against the filing named in that period file's source banner.
• Income statement — one zero-sum transaction per period: Income
  negative (credit), Expenses positive (debit), with the arithmetic check in
  a comment directly above it.
• Unit — MEUR; 4,777 MEUR means 4,777 million euros.
• Additional accounts — Assets:NonCurrent:LongTermInvestments,
  Equity:TreasuryStock, opened beyond the standard chart (see each account's
  open line in main.bean). They hold the filings' long term investments
  and treasury shares captions; treasury shares are a deduction from equity,
  so the account carries a debit balance.
• Caption mapping — sales and marketing and general and administrative
  are two labeled postings on Expenses:SellingGeneralAdministrative;
  research and development is Expenses:ResearchAndDevelopment; revenue is
  one posting equal to total revenue, with the Premium and Ad-Supported split
  in its comment.
• Finance income and costs — every line of the filing's finance income
  and costs note (interest, dividends, foreign exchange, and the fair value
  movements on the Exchangeable Notes and on derivative liabilities) is its
  own labeled posting, on Income:OtherNet or Expenses:OtherNet according
  to the sign of their net; the postings sum to the finance income and
  finance costs lines on the face of the statement of operations. The fair
  value movements are why net income and operating income diverge (a 239
  MEUR cost on the Exchangeable Notes in FY2024), so they are never folded
  into an operating line.
• Balance sheet groupings — lease right-of-use assets, restricted cash,
  finance lease receivables and deferred tax assets sit inside
  Assets:NonCurrent:Other; lease liabilities, provisions and deferred tax
  liabilities inside Liabilities:NonCurrent:Other; each balance assertion's
  comment itemizes the filed captions it sums. The Exchangeable Notes are
  Liabilities:NonCurrent:LongTermDebt through December 31, 2024,
  Liabilities:Current:ShortTermDebt at December 31, 2025 and zero after
  their March 2026 maturity. Equity:OtherComprehensiveIncome holds the
  filings' other reserves, which include the share-based compensation
  reserve as well as the translation, investment and hedging reserves.
• Net income — the amount attributable to owners of the parent, which is
  the only net income line the filings present.
• Vintage — each fiscal year uses the figures of that year's own Form
  20-F as originally filed; each later filing repeats the prior year's
  statement of operations and statement of financial position unchanged. The
  Premium and Ad-Supported split in a revenue comment is the one that
  period's filing reports; from 2026 the company moved certain activities
  from Ad-Supported to Premium and recast the split back to 2023, which does
  not change total revenue. The quarter is the three-months column of the
  Form 6-K, not the six-month year to date.

Analysis

• Spotify Q2 2026 Earnings: 300 Million Premium Subscribers and a Record 33.4% Gross Margin Meet a €670M Q3 Guide — FY2026Q2

Corrections

Found a figure that does not match the filing? Email
[email protected] with the period, the account
and the filing page. Corrections are committed with the source cited.

• 2026-10-06 — every period, FY2021 through FY2026Q2, was rebuilt from the
  Form 20-F and Form 6-K filings. The earlier files carried cost of revenue,
  R&D and SG&A lines that were fixed shares of revenue, revenue that
  differed from the filings in five of six periods, net income that differed
  in all six, and balance sheets that matched no filing.

About Open Ledger

Open Ledger is a growing library of public-company financial statements
published as plain-text accounting at
beancount.io/ledger — git-versioned, diffable
across companies, and auditable against primary filings. Read the analysis
behind the numbers on the beancount.io blog.

Disclaimer

This ledger is an independent reconstruction of Spotify Technology S.A.'s publicly filed
financial statements, provided for educational and informational purposes
only. It is not investment, financial, legal, tax, or accounting advice, and
is not an offer or recommendation to buy or sell any security. Beancount.io is
not affiliated with, endorsed by, or sponsored by Spotify Technology S.A.; all trademarks
belong to their respective owners. Figures may contain errors, omissions, or
simplifications and may lag the latest filings — the company's own regulatory
filings are the authoritative source. Provided "as is" without warranty of any
kind; use at your own risk.