Spotify Results Presentation Deck
Interim condensed consolidated statement of cash flows
(Unaudited)
(in € millions)
Operating activities
Net loss
Adjustments to reconcile net loss to net cash flows
Depreciation of property and equipment and lease right-of-use assets
Amortization of intangible assets
Impairment charges on real estate assets
Write-off of content assets
Excess and obsolete reserve
Share-based compensation expense
Finance income
Finance costs
Income tax expense
Other
Changes in working capital:
(Increase)/decrease in trade receivables and other assets
Increase/(decrease) in trade and other liabilities
Increase in deferred revenue
(Decrease)/increase in provisions
Interest paid on lease liabilities
Interest received
Income tax paid
Net cash flows from operating activities
Investing activities
Business combinations, net of cash acquired
Payment of deferred consideration pertaining to business combination
Purchases of property and equipment
Purchases of short term investments
Sales and maturities of short term investments
Change in restricted cash
Other
Net cash flows from/(used in) investing activities
Financing activities
Payments of lease liabilities
Lease incentives received
Proceeds from exercise of stock options
Payments for employee taxes withheld from restricted
stock unit releases
Net cash flows (used in)/from financing activities
Net increase/(decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of the period
Net foreign exchange (losses)/gains on cash and cash equivalents
Cash and cash equivalents at period end
June 30, 2023
(302)
30
14
90
30
97
(33)
27
61
2
(97)
77
18
(2)
(10)
26
(15)
13
(2)
(138)
265
(2)
(10)
113
(27)
35
(16)
(8)
118
2,443
(11)
2,550
Three months ended
March 31, 2023
(225)
31
13
105
(27)
77
19
(5)
118
(57)
6
1
(10)
23
(10)
59
(7)
(2)
(237)
111
13
(122)
(15)
2
75
(13)
49
(14)
2,483
(26)
2,443
June 30, 2022
(125)
29
11
16
105
(118)
14
35
(5)
(68)
138
10
14
(13)
4
(8)
39
(109)
(5)
(5)
(78)
141
3
(4)
(57)
(10)
(10)
(20)
(38)
2,721
103
2,786
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