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  "documentTitle": "2022 Q2 Shareholder Deck",
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      "text": "Optimizing capital allocation for long-term value creation",
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      "text": "Total Revenue grew 23% Y/Y to €2.9 billion. Premium Revenue grew 22% Y/Y to €2.5 billion. Ad-Supported Revenue grew 31% Y/Y to €360 million, reaching an all-time high as a percent of Total Revenue at 13% for Q2. Gross Margin finished at 25.3%³ excluding Car Thing charge and accrual benefits (or 24.6% on an as reported basis)",
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      "text": "Accelerating expansion into audiobooks with the closing of the Findaway acquisition on June 15th and pioneering the creation of new user experiences with the announced acquisition of Sonantic. Announced intention to reduce hiring growth for the back half of 2022 by 25% and monitoring macroeconomic conditions",
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      "text": "MAUs grew 19% Y/Y to 433 million, 5 million above guidance. Net additions of 19 million¹ represented our largest ever Q2 growth. MAU strength was led by successful marketing campaigns in Rest of World, reactivations in Europe and Gen Z strength in Latin America. Premium Subscribers grew 14% Y/Y to 188 million², above our guidance, aided by promotional intake and household plans",
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      "text": "¹ Excludes the effects of our exit from Russia and the brief service outage benefit we experienced in March. ² Inclusive of approximately 600k disconnects arising from the closure of our Russian operations. ³ Adjusted Gross Margin is a non-IFRS measure. See \"Use of Non-IFRS Measures\" and \"Reconciliation of IFRS to Non-IFRS Results\" for additional information.",
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