SPOTIFY $SPOT Q3’26 EARNINGS HIGHLIGHTS 🔹 Revenue: €4,969M (Est. €4.98B) 🔴; +16% YoY 🔹 Diluted EPS: €2.48 (Est. €2.81) 🔴; -24% YoY 🔹 Gross Margin: 33.0%; +136 bps YoY 🔹 Oper Income: €672M (Est. €680M) 🔴; +15% YoY Q4’26 Guide: 🔹 Revenue: €5.2B (Est. €5.23B) 🟡 🔹 Operating Income: €820M (Est. €813M) 🟢 🔹 Gross Margin: 33.8% 🔹 MAUs: 818M 🔹 Premium Subscribers: 316M Segment Revenue: 🔹 Premium: €4,487M; +17% YoY 🔹 Ad-Supported: €482M; +10% YoY Other Q3 Metrics: 🔹 MAUs: 788M; +11% YoY 🔹 Premium Subscribers: 306M; +9% YoY 🔹 Net Income: €518M (Est. €589M) 🔴 🔹 Free Cash Flow: €735M; -9% YoY 🔹 Premium ARPU: €4.95; +9.3% YoY 🔹 Ad-Supported MAUs: 499M; +12% YoY 🔹 Operating Margin: 13.5% Key Updates: 🔹 Social Charges: €13M above forecast at €22M in current period Operating Expenses 🔹 Share repurchases: $1.1B year-to-date through October 21st 🔹 Taste Profile launched to Premium Subscribers in the U.S. 🔹 Launched Creator Memberships for eligible podcast creators