Spotify Technology S.A. (SPOT) Q1 2022 Results - Earnings Call Transcript

For the period ending March 31, 2022

April 27, 2022 8:00 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Good morning. My name is Julian and I will be your conference operator today. At this time, I would like to welcome everyone to Spotify’s Q1 2022 Earnings Conference Call and Webcast. Bryan Goldberg, Head of Investor Relations, you may begin your conference.

Bryan Goldberg

Thanks, operator and welcome to Spotify’s first quarter 2022 earnings conference call. Joining us today will be Daniel Ek, our CEO and Paul Vogel, our CFO. We will start with opening comments from Daniel and Paul, and afterwards, we will be happy to answer your questions. Questions can be submitted by going to Slido.com and using the code #Spotify Earnings Q1 ‘22. Analysts can ask questions directly into Slido and all participants can then vote on the questions they find the most relevant. We ask that you try to limit yourself to one to two questions and to the extent, you have got follow-ups, we will be happy to address them time permitting. If for some reason, you don’t have access to Slido, you can e-mail Investor Relations at ir@spotify.com and we’ll add in your questions.

Before we begin, let me quickly cover the Safe Harbor. During this call, we will be making certain forward-looking statements, including projections or estimates about the future performance of the company. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could materially differ because of factors discussed on today’s call, in our letter to shareholders and in filings with the Securities and Exchange Commission. During this call, we will also refer to certain non-IFRS financial measures. Reconciliations between our IFRS and non-IFRS financial measures can be found in our letter to shareholders, in the financial section of our Investor Relations website and also furnished today on Form 6-K.

And with that, I will turn it over to Daniel.

Daniel Ek

Alright. Hi, everyone and thank you so much for joining us. So, I will kickoff by sharing a few of the highlights you may have seen in our shareholder letter. We delivered another strong quarter in Q1. And when you exclude the impact of our withdrawal from Russia, we came in line or ahead on every metric. And this performance builds on the momentum we saw in Q3 and Q4 of 2021 and I am very pleased with the continued acceleration we are seeing in user growth headed into Q2.