Spotify Files Q1 2024 Interim Financials

TL;DR

Spotify dropped its Q1 2024 interim financials, check the statements for the latest numbers.

AI Summary

Spotify Technology S.A. filed a 6-K report on April 24, 2024, presenting its interim condensed consolidated financial statements for the three months ended March 31, 2024. The filing includes statements of operations and comprehensive income/(loss), and a statement of financial position.

Why It Matters

This filing provides investors with Spotify's latest financial performance data, crucial for understanding the company's revenue, costs, and overall financial health in the first quarter of 2024.

Risk Assessment

Risk Level: low — This is a routine financial filing providing interim results, not indicating new or elevated risks.

Key Players & Entities

• Spotify Technology S.A. (company) — Filer of the report
• 001-38438 (company) — SEC File Number
• March 31, 2024 (date) — End of reporting period for financial statements
• April 24, 2024 (date) — Filing date of the report

FAQ

Key Financial Figures

• $1.0 billion — approved a program to repurchase up to $1.0 billion of the Company's ordinary shares. Repur

Filing Documents

• spot-20240331x6xk.htm (6-K) — 1067KB
• gl2mxkf2qsen000001a.jpg (GRAPHIC) — 4KB
• 0001639920-24-000007.txt ( ) — 1074KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements 1 Interim condensed consolidated statement of operations 1 Interim condensed consolidated statement of comprehensive income(loss) 2 Interim condensed consolidated statement of financial position 3 Interim condensed consolidated statement of changes in equity 4 Interim condensed consolidated statement of cash flows 5 Notes to the interim condensed consolidated financial statements 6

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 25

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 36

- OTHER INFORMATION

PART II - OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 39

Risk Factors

Item 1A. Risk Factors 39

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 39

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 39

Other Information

Item 5. Other Information 39

Signatures

Signatures 40 Table of Contents

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements Interim condensed consolidated statement of operations (Unaudited) (in millions, except share and per share data) Three months ended March 31, Note 2024 2023 Revenue 20 3,636 3,042 Cost of revenue 2,632 2,276 Gross profit 1,004 766 Research and development 389 435 Sales and marketing 324 347 General and administrative 123 140 836 922 Operating income(loss) 168 (156) Finance income 4 59 27 Finance costs 4 (53) (77) Finance income(cost) - net 6 (50) Income(loss) before tax 174 (206) Income tax (benefit)expense 5 (23) 19 Net income(loss) attributable to owners of the parent 197 (225) Earnings(loss) per share attributable to owners of the parent Basic 6 0.99 (1.16) Diluted 6 0.97 (1.16) Weighted-average ordinary shares outstanding Basic 6 198,025,456 193,562,462 Diluted 6 203,773,043 193,562,462 The accompanying notes are an integral part of the interim condensed consolidated financial statements. -1- Table of Contents Interim condensed consolidated statement of comprehensive income(loss) (Unaudited) (in millions) Three months ended March 31, Note 2024 2023 Net income(loss) attributable to owners of the parent 197 (225) Other comprehensive income(loss) Items that may be subsequently reclassified to interim condensed consolidated statement of operations (net of tax) Change in net unrealized gain or loss on short term investments 13, 19 (2) 6 Change in net unrealized gain or loss on cash flow hedging instruments 13, 19 1 (2) Change in foreign currency translation adjustment 22 (13) Items not to be subsequently reclassified to interim condensed consolidated statement of operations (net of tax) Gains(losses) in the fair value of long term investments 13, 19 252 (5) Change in fair value of Exchangeable Notes due to change in the Group's credit risk 15, 19 (4) — Other comprehensive income(loss) for the period (net of tax) 269 (14) Total comprehensive income(loss) for the period attributable to o