As of Q4'25, SPOT reported Operating Cash Flow of USD 856M and Free Cash Flow of USD 834M, marking the highest levels in the period under review. Both metrics have shown substantial growth compared to the previous quarter, with Operating Cash Flow increasing from USD 829M and Free Cash Flow from USD 806M in Q3'25. From Q1'23 to Q4'25, the chart illustrates a strong upward trend in both Operating and Free Cash Flow, with notable acceleration beginning in Q3'23. After a period of relatively modest cash flow in early 2023, both metrics saw significant increases, particularly from Q3'23 onward, indicating improved operational efficiency and cash generation. The consistent growth and record highs in late 2025 suggest robust financial health and positive momentum for SPOT over the observed quarters.