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  "documentTitle": "Spotify | Results Presentation Deck | 34 slides",
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  "authorName": "Spotify",
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  "presentationDate": "2022-10-01 00:00:00",
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  "notes": "Slide 8 of a presentation, likely an earnings deck.",
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      "text": "Operating Loss of (€228) million reflected the above and Operating Expense growth of 65% Y/Y (or 51% Y/Y constant currency), reflecting: Higher personnel costs primarily due to headcount growth and higher advertising costs; Currency movements had a negative 1,433 bps impact on expense growth, or €85 million.",
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      "text": "Free Cash Flow was €35 million in Q3. Capital expenditures decreased €20 million Y/Y to €5 million in the quarter. Liquidity remained strong, with €3.7 billion in cash and cash equivalents. At the end of Q3, our workforce consisted of 9,808 FTEs globally.",
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      "text": "Gross Margin was 24.7% in Q3, down 201 bps Y/Y reflecting: Continued growth in Marketplace activity and favorable revenue mix shift to podcasting; offset by Non-music content and product enhancement spend, as well as increased publishing rates and an adjustment to prior period accruals.",
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      "text": "Revenue of €3,036 million grew 21% Y/Y in Q3 (or 12% Y/Y constant currency), reflecting: Premium Revenue growth of 22% Y/Y (or 13% Y/Y constant currency), led by subscriber gains; and Ad-Supported Revenue growth of 19% Y/Y (or 3% Y/Y constant currency), led by podcasting",
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      "text": "Free Cash Flow 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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