Overview
- For Q3 2025, Spotify reported €4.27 billion in revenue, a 31.6% gross margin, €582 million in operating income, and €899 million in net profit.
- Premium subscribers rose to 281 million and total monthly active users hit 713 million, with ad-supported users reaching 446 million as all KPIs met or exceeded guidance.
- Q4 guidance calls for €4.5 billion in revenue, €620 million in operating income, 745 million monthly active users, and 289 million premium subscribers, with revenue outlook tempered by currency headwinds.
- Ad-supported revenue fell 6% year over year despite user growth, which Spotify attributed to pricing softness and optimization of podcast inventory.
- The company reaffirmed its leadership transition effective Jan. 1, 2026, with Daniel Ek becoming executive chairman and Gustav Söderström and Alex Norström serving as co-CEOs, as it rolls out lossless audio, expands audiobooks, links accounts to ChatGPT, and prepares select video podcasts for Netflix.