Shopify Balance Sheet

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Equivalents	1,545	1,498	1,413	1,649	2,503
Short-Term Investments	4,302	4,016	3,626	3,438	5,287
Cash & Short-Term Investments	5,847	5,514	5,039	5,087	7,790
Cash Growth	6.04%	9.43%	-0.94%	-34.70%	21.76%
Accounts Receivable	327	252	194	203	127.14
Other Receivables	207	122	98	75	70.1
Receivables	1,995	1,395	964	487	266.93
Inventory	21	26	19	-	-
Prepaid Expenses	55	59	55	48	49.92
Other Current Assets	378	260	198	428	432.84
Total Current Assets	8,296	7,254	6,275	6,050	8,539
Property, Plant & Equipment	141	140	147	486	301.91
Long-Term Investments	6,159	5,998	4,377	1,954	3,956
Goodwill	491	452	427	1,836	356.53
Other Intangible Assets	30	22	29	390	138.5
Long-Term Accounts Receivable	12	-	-	-	-
Long-Term Deferred Tax Assets	33	37	44	41	48.37
Other Long-Term Assets	27	21	-	-	-
Total Assets	15,189	13,924	11,299	10,757	13,340
Accounts Payable	570	360	364	364	284.01
Accrued Expenses	263	220	128	115	138.09
Current Portion of Long-Term Debt	-	918	-	-	-
Current Portion of Leases	17	18	17	18	15.75
Current Income Taxes Payable	156	58	18	9	13.51
Current Unearned Revenue	300	283	302	296	216.79
Other Current Liabilities	86	99	69	54	34.59
Total Current Liabilities	1,392	1,956	898	856	702.73
Long-Term Debt	-	-	916	913	910.96
Long-Term Leases	171	190	217	465	246.78
Long-Term Unearned Revenue	98	147	196	268	162.93
Long-Term Deferred Tax Liabilities	55	73	6	16	183.43
Total Liabilities	1,716	2,366	2,233	2,518	2,207
Common Stock	10,376	9,634	9,201	8,747	8,040
Additional Paid-In Capital	236	305	251	30	161.07
Retained Earnings	2,860	1,629	-390	-522	2,938
Comprehensive Income & Other	1	-10	4	-16	-5.97
Shareholders' Equity	13,473	11,558	9,066	8,239	11,133
Total Liabilities & Equity	15,189	13,924	11,299	10,757	13,340
Total Debt	188	1,126	1,150	1,396	1,173
Net Cash (Debt)	6,634	5,097	4,004	3,691	6,616
Net Cash Growth	30.15%	27.30%	8.48%	-44.21%	20.64%
Net Cash Per Share	5.08	3.92	3.09	2.91	5.19
Filing Date Shares Outstanding	1,304	1,295	1,287	1,277	1,260
Total Common Shares Outstanding	1,304	1,295	1,287	1,275	1,260
Working Capital	6,904	5,298	5,377	5,194	7,837
Book Value Per Share	10.33	8.93	7.05	6.46	8.84
Tangible Book Value	12,952	11,084	8,610	6,013	10,638
Tangible Book Value Per Share	9.93	8.56	6.69	4.72	8.45
Machinery	69	68	63	102	73.74
Leasehold Improvements	159	149	142	182	159.13

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.