Last quarter, gross margins came in at just 25.4%, and the company recorded an operating loss of $167 million. However, unlike many high-growth software companies, Spotify currently sports rather low gross margins.
SPOT Year to Date Total Returns (Daily) data by YCharts Spotify's price-to-sales ratio of six times isn't very high many high-growth software companies sport P/S ratios multiples higher than that. The stock has been on a torrid run this year, up a whopping 71.7% for 2020 thus far, and receiving a market cap of nearly $50 billion dollars.Īt first glance, that may seem like quite a lofty valuation.
At its recent intraday low at the start of last week, the S&P was down by 11.40% so far this year, but by Wednesday's close it had recovered to show a loss of just 3.71%.Spotify ( SPOT -2.88%) has clearly been deemed a winner of the COVID-19 stay-at-home economy. The music-streaming service, recently involved in a COVID-19 misinformation row over Joe Rogan's podcast, forecast monthly active users of 418 million in the first quarter, below the average 418.2 million analysts expected.īefore the corporate tech bellwethers reported on Wednesday, the S&P 500 had notched a four-day rally, helped by better-than-expected results from Google parent Alphabet. Meanwhile, Spotify fell 9% in pre-market trading to $174.42 after saying it would no longer provide annual guidance. "The shares were hit hard by a combination of extraordinary expenses associated with building the metaverse, along with what appears to be stagnating growth in the user base," Deutsche Bank analysts said. If Meta's over 20% drop carries on into regular market hours on Thursday, the company stands to lose $200 billion in value from its total market capitalization of around $890 billion at Wednesday's close.
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