As of Q4'25, SPOT's latest operating income reached 701M USD, marking the highest point in the observed period from Q1'23 to Q4'25. The year-over-year growth rate for this quarter stands at 46.96%, indicating a strong improvement compared to previous periods. Over the timeframe, SPOT's operating income showed a significant turnaround, moving from negative values in 2023 (as low as -247M USD in Q2'23) to consistent and accelerating positive income throughout 2024 and 2025. The most notable inflection occurred in Q3'23, where operating income turned positive for the first time, followed by rapid growth—especially in Q3'24, which saw a YoY surge of over 13x. Although growth rates moderate after this spike, the overall trend remains strongly upward, reflecting both operational recovery and expansion.