Document

6-K 1 spot-20260630x6xk.htm 6-K Document

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of August, 2026

Commission File Number: 001-38438

Spotify Technology S.A.

(Translation of registrant’s name into English)


33 Boulevard Prince Henri
L-1724 Luxembourg
Grand Duchy of Luxembourg
(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☒ Form 40-F ☐

Spotify Technology S.A.

Interim condensed consolidated financial statements

For the three and six months ended June 30, 2026

Table of contents


						Page
PART I - FINANCIAL INFORMATION
Item 1. Financial Statements						1
Interim condensed consolidated statement of operations						1
Interim condensed consolidated statement of comprehensive income						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						6
Notes to the interim condensed consolidated financial statements						7
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations						26
Item 3. Quantitative and Qualitative Disclosures About Market Risk						39
PART II - OTHER INFORMATION
Item 1. Legal Proceedings						42
Item 1A. Risk Factors						42
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds						42
Item 3. Defaults Upon Senior Securities						42
Item 5. Other Information						42
Signatures						43

Table of Contents

PART I - FINANCIAL INFORMATION

Item 1. Financial Statements

Interim condensed consolidated statement of operations

(Unaudited)

(in € millions, except share and per share data)


		Three months ended June 30,		Six months ended June 30,
	Note	2026	2025	2026	2025
Revenue	20	4,777	4,193	9,310	8,383
Cost of revenue		3,181	2,873	6,219	5,737
Gross profit		1,596	1,320	3,091	2,646
Research and development		403	415	734	794
Sales and marketing		390	364	732	678
General and administrative		148	135	255	259
		941	914	1,721	1,731
Operating income		655	406	1,370	915
Finance income	4	86	89	334	160
Finance costs	4	(21)	(447)	(47)	(699)
Finance income/(costs) - net		65	(358)	287	(539)
Income before tax		720	48	1,657	376
Income tax expense	5	175	134	391	237
Net income/(loss) attributable to owners of the parent		545	(86)	1,266	139

Earnings/(loss) per share attributable to owners of the parent
Basic	6	2.65	(0.42)	6.15	0.68
Diluted	6	2.61	(0.42)	6.06	0.66
Weighted-average ordinary shares outstanding
Basic	6	205,788,241	205,426,999	205,752,745	204,950,112
Diluted	6	208,858,469	205,426,999	209,078,186	210,475,453

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

(Unaudited)

(in € millions)


		Three months ended June 30,		Six months ended June 30,
	Note	2026	2025	2026	2025
Net income/(loss) attributable to owners of the parent		545	(86)	1,266	139
Other comprehensive (loss)/income
Items that may be subsequently reclassified to interim condensed consolidated statement of operations (net of tax):
Net (losses)/gains on short term investments	13, 19	—	(1)	(1)	7
Net (losses)/gains on cash flow hedging instruments	13, 19	(1)	9	(5)	16
Change in foreign currency translation adjustment		28	(136)	63	(214)
Items not to be subsequently reclassified to interim condensed consolidated statement of operations (net of tax):
Net (losses)/gains in the fair value of long term investments held at period-end	13, 19	(61)	368	(847)	628

Other comprehensive (loss)/income for the period (net of tax)		(34)	240	(790)	437
Total comprehensive income for the period attributable to owners of the parent		511	154	476	576

The accompanying notes are an integral part of the interim condensed consolidated financial statements.

- 2 -

Table of Contents

Interim condensed consolidated statement of financial position

(in € millions)


	Note	June 30, 2026	December 31, 2025
		(Unaudited)
Assets
Non-current assets
Lease right-of-use assets	7	225	234
Property and equipment	8	193	188
Goodwill	9	1,110	1,083
Intangible assets	9	36	41
Long term investments	19	1,118	2,181
Restricted cash and other non-current assets	10	56	61
Finance lease receivables	7	71	69
Deferred tax assets	5	563	662
		3,372	4,519
Current assets
Trade and other receivables	11	780	802
Income tax receivable		92	116
Short term investments	19	3,450	4,209
Cash and cash equivalents		5,938	5,258
Other current assets	12	116	111
		10,376	10,496
Total assets		13,748	15,015
Equity and liabilities
Equity
Share capital		—	—
Other paid in capital		6,624	6,496
Treasury shares	13	(1,248)	(701)
Other reserves	13	2,588	3,366
Retained earnings/(accumulated deficit)		421	(832)
Equity attributable to owners of the parent		8,385	8,329
Non-current liabilities

Lease liabilities	7	404	433
Accrued expenses and other liabilities	17	2	2
Provisions	18	13	3
Deferred tax liabilities	5	30	163
		449	601
Current liabilities
Trade and other payables	16	1,325	1,194
Income tax payable		171	72
Deferred revenue		778	711
Accrued expenses and other liabilities	17	2,573	2,589
Exchangeable Notes	15, 19	—	1,458
Provisions	18	45	51
Derivative liabilities	19	22	10
		4,914	6,085
Total liabilities		5,363	6,686
Total equity and liabilities		13,748	15,015

The accompanying notes are an integral part of the interim condensed consolidated financial statements.

- 3 -

Table of Contents

Interim condensed consolidated statement of changes in equity

(Unaudited)

(in € millions)


	Note	Share capital	Other paid in capital	Treasury Shares	Other reserves	(Accumulated deficit)/retained earnings	Equity attributable to owners of the parent
Balance at January 1, 2026		—	6,496	(701)	3,366	(832)	8,329
Income for the period		—	—	—	—	721	721
Other comprehensive loss		—	—	—	(756)	—	(756)


Reclassification of net losses attributable to changes in the Group’s credit risk upon derecognition of the Exchangeable Notes, net of tax	13	—	—	—	13	(13)	—
Repurchases of ordinary shares		—	—	(306)	—	—	(306)
Issuance of shares upon exercise of stock options, restricted stock units, and contingently issuable shares	13	—	64	—	—	—	64

Restricted stock units withheld for employee taxes		—	—	—	(46)	—	(46)
Share-based compensation	14	—	—	—	56	—	56
Income tax impact associated with share-based compensation		—	—	—	(52)	—	(52)