Spotify Technology SA(SPOT) - 2023 Q2 - Quarterly Report

Exhibit 99.1 The business performed very well in Q2, led by exceptionally strong MAU and Subscriber results. MAU net additions of 36 million were 21 million above guidance-an all-time high for the company-while Subscriber net additions of 10 million were 3 million ahead of guidance and the highest Q2 in company history. Revenue was in-line with guidance. Reported Gross Margin and Operating Loss were both primarily impacted by charges related to our actions to streamline operations and reduce costs. Excludin ...