Spotify's Path Forward Deserves This Premium

Spotify Technology S.A. continues to outperform, with a 261% stock gain since April 2018 and robust recent financial results. SPOT's Q1 2026 revenue rose 8.2% year-over-year to $5.26 billion, with net income surging to $837 million. Management targets mid-teens annual revenue growth and 35–40% gross margins, reaffirming a $100 billion revenue goal by 2030.