Shopify Inc. (SHOP)
NASDAQ: SHOP · Real-Time Price · USD
118.25
-0.27 (-0.23%)
At close: Apr 2, 2026, 4:00 PM EDT
118.25
0.00 (0.00%)
After-hours: Apr 2, 2026, 7:59 PM EDT
Shopify Income Statement
Financials in millions USD. Fiscal year is January - December.
Millions USD. Fiscal year is Jan - Dec.
Fiscal Quarter | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 | Q3 2021 | Q2 2021 | Q1 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Dec '25 Dec 31, 2025 | Sep '25 Sep 30, 2025 | Jun '25 Jun 30, 2025 | Mar '25 Mar 31, 2025 | Dec '24 Dec 31, 2024 | Sep '24 Sep 30, 2024 | Jun '24 Jun 30, 2024 | Mar '24 Mar 31, 2024 | Dec '23 Dec 31, 2023 | Sep '23 Sep 30, 2023 | Jun '23 Jun 30, 2023 | Mar '23 Mar 31, 2023 | Dec '22 Dec 31, 2022 | Sep '22 Sep 30, 2022 | Jun '22 Jun 30, 2022 | Mar '22 Mar 31, 2022 | Dec '21 Dec 31, 2021 | Sep '21 Sep 30, 2021 | Jun '21 Jun 30, 2021 | Mar '21 Mar 31, 2021 |
| 3,672 | 2,844 | 2,680 | 2,360 | 2,812 | 2,162 | 2,045 | 1,861 | 2,144 | 1,714 | 1,694 | 1,508 | 1,735 | 1,366 | 1,295 | 1,204 | 1,380 | 1,124 | 1,119 | 988.65 | |
Revenue Growth (YoY) | 30.58% | 31.55% | 31.05% | 26.81% | 31.16% | 26.14% | 20.72% | 23.41% | 23.57% | 25.48% | 30.81% | 25.25% | 25.72% | 21.56% | 15.68% | 21.78% | 41.14% | 46.43% | 56.71% | 110.35% |
Cost of Revenue | 1,979 | 1,453 | 1,378 | 1,191 | 1,460 | 1,044 | 1,000 | 904 | 1,082 | 813 | 859 | 791 | 937 | 704 | 639 | 566 | 688.16 | 514.54 | 498.59 | 429.93 |
Gross Profit | 1,693 | 1,391 | 1,302 | 1,169 | 1,352 | 1,118 | 1,045 | 957 | 1,062 | 901 | 835 | 717 | 798 | 662 | 656 | 638 | 691.86 | 609.2 | 620.86 | 558.72 |
Selling, General & Admin | 554 | 518 | 525 | 510 | 457 | 443 | 468 | 483 | 484 | 392 | 405 | 409 | 308 | 557 | 456 | 410 | 372.58 | 349.81 | 276.7 | 247.59 |
Research & Development | 384 | 370 | 389 | 372 | 345 | 329 | 346 | 331 | 417 | 310 | 542 | 453 | 429 | 409 | 346 | 301 | 266.94 | 211.38 | 176.32 | 164.15 |
Other Operating Expenses | 10 | 9 | 7 | 9 | 9 | 5 | 3 | 6 | 5 | 5 | 5 | 6 | 4 | 3 | 2 | 5 | 10.12 | 26.8 | 10.42 | 17.48 |
Operating Expenses | 948 | 897 | 921 | 891 | 811 | 777 | 817 | 820 | 906 | 707 | 952 | 868 | 741 | 969 | 804 | 716 | 649.65 | 587.99 | 463.43 | 429.21 |
Operating Income | 745 | 494 | 381 | 278 | 541 | 341 | 228 | 137 | 156 | 194 | -117 | -151 | 57 | -307 | -148 | -78 | 42.22 | 21.21 | 157.43 | 129.51 |
Interest Expense | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | -0.88 | -0.87 | -0.87 | -0.87 |
Interest & Investment Income | 79 | 81 | 106 | 65 | 72 | 77 | 80 | 79 | 68 | 63 | 58 | 52 | 38 | 20 | 12 | 5 | 4.92 | 4.52 | 3.09 | 2.83 |
Earnings From Equity Investments | 28 | -21 | -24 | -23 | -22 | -28 | -44 | -44 | -48 | -10 | - | - | - | - | - | - | - | - | - | - |
Currency Exchange Gain (Loss) | - | -4 | 24 | 6 | -22 | 16 | 2 | -4 | 5 | -2 | -4 | 2 | 10 | -4 | -3 | -5 | 2.57 | 0.07 | -0.1 | -2.26 |
Other Non Operating Income (Expenses) | -208 | -177 | -80 | -75 | -76 | -58 | -42 | -51 | -45 | -34 | -31 | -42 | -34 | -39 | -42 | -20 | -27.81 | -25.31 | -17.99 | -10.61 |
EBT Excluding Unusual Items | 644 | 373 | 407 | 251 | 493 | 348 | 224 | 117 | 136 | 211 | -94 | -139 | 71 | -330 | -181 | -98 | 21.02 | -0.39 | 141.57 | 118.6 |
Merger & Restructuring Charges | - | - | - | - | - | - | - | - | 178 | - | -148 | - | -30 | - | - | - | - | - | - | - |
Gain (Loss) on Sale of Investments | 248 | -62 | 682 | -1,021 | 928 | 512 | -76 | -373 | 368 | 555 | 281 | 215 | -474 | 172 | -1,017 | -1,555 | -509.74 | 1,341 | 777.75 | 1,251 |
Gain (Loss) on Sale of Assets | - | - | - | - | - | - | - | - | - | - | -1,340 | - | - | - | - | - | - | - | - | - |
Asset Writedown | - | -3 | -10 | - | - | - | - | - | - | -38 | - | - | -84 | - | - | - | - | - | - | - |
Legal Settlements | - | - | - | - | - | - | 55 | - | - | - | - | - | -97 | - | - | - | - | - | - | - |
Pretax Income | 892 | 308 | 1,079 | -770 | 1,421 | 860 | 203 | -256 | 682 | 728 | -1,301 | 76 | -614 | -158 | -1,198 | -1,653 | -488.72 | 1,340 | 919.32 | 1,370 |
Income Tax Expense | 149 | 44 | 173 | -88 | 128 | 32 | 32 | 17 | 25 | 10 | 10 | 8 | 9 | 1 | 6 | -179 | -117.41 | 192.02 | 40.22 | 111.1 |
Net Income | 743 | 264 | 906 | -682 | 1,293 | 828 | 171 | -273 | 657 | 718 | -1,311 | 68 | -623 | -159 | -1,204 | -1,474 | -371.31 | 1,148 | 879.09 | 1,258 |
Net Income to Common | 743 | 264 | 906 | -682 | 1,293 | 828 | 171 | -273 | 657 | 718 | -1,311 | 68 | -623 | -159 | -1,204 | -1,474 | -371.31 | 1,148 | 879.09 | 1,258 |
Net Income Growth | -42.54% | -68.12% | 429.83% | - | 96.80% | 15.32% | - | - | - | - | - | - | - | - | - | - | - | 501.06% | 2342.06% | - |
Shares Outstanding (Basic) | 1,303 | 1,300 | 1,298 | 1,295 | 1,292 | 1,291 | 1,289 | 1,287 | 1,285 | 1,283 | 1,280 | 1,277 | 1,273 | 1,269 | 1,262 | 1,260 | 1,257 | 1,251 | 1,245 | 1,232 |
Shares Outstanding (Diluted) | 1,303 | 1,313 | 1,309 | 1,295 | 1,305 | 1,302 | 1,300 | 1,287 | 1,297 | 1,296 | 1,280 | 1,292 | 1,273 | 1,269 | 1,262 | 1,260 | 1,257 | 1,276 | 1,275 | 1,267 |
Shares Change (YoY) | -0.17% | 0.87% | 0.70% | 0.62% | 0.58% | 0.45% | 1.52% | -0.33% | 1.88% | 2.08% | 1.46% | 2.50% | 1.27% | -0.53% | -1.00% | -0.52% | 0.22% | 2.17% | 3.85% | 8.45% |
EPS (Basic) | 0.57 | 0.20 | 0.70 | -0.53 | 1.00 | 0.64 | 0.13 | -0.21 | 0.51 | 0.56 | -1.02 | 0.05 | -0.49 | -0.13 | -0.95 | -1.17 | -0.30 | 0.92 | 0.71 | 1.02 |
EPS (Diluted) | 0.57 | 0.20 | 0.69 | -0.53 | 0.99 | 0.64 | 0.13 | -0.21 | 0.51 | 0.55 | -1.02 | 0.05 | -0.49 | -0.13 | -0.95 | -1.17 | -0.30 | 0.90 | 0.69 | 0.99 |
EPS Growth | -42.34% | -68.75% | 430.77% | - | 94.82% | 16.36% | - | - | - | - | - | - | - | - | - | - | - | 485.83% | 2279.81% | - |
Free Cash Flow | 715 | 507 | 422 | 363 | 611 | 421 | 333 | 232 | 446 | 276 | 97 | 86 | 90 | -148 | -87 | -41 | 265.77 | 30.5 | 58.16 | 130.5 |
Free Cash Flow Per Share | 0.55 | 0.39 | 0.32 | 0.28 | 0.47 | 0.32 | 0.26 | 0.18 | 0.34 | 0.21 | 0.08 | 0.07 | 0.07 | -0.12 | -0.07 | -0.03 | 0.21 | 0.02 | 0.05 | 0.10 |
Gross Margin | 46.11% | 48.91% | 48.58% | 49.53% | 48.08% | 51.71% | 51.10% | 51.42% | 49.53% | 52.57% | 49.29% | 47.55% | 45.99% | 48.46% | 50.66% | 52.99% | 50.13% | 54.21% | 55.46% | 56.51% |
Operating Margin | 20.29% | 17.37% | 14.22% | 11.78% | 19.24% | 15.77% | 11.15% | 7.36% | 7.28% | 11.32% | -6.91% | -10.01% | 3.28% | -22.47% | -11.43% | -6.48% | 3.06% | 1.89% | 14.06% | 13.10% |
Profit Margin | 20.23% | 9.28% | 33.81% | -28.90% | 45.98% | 38.30% | 8.36% | -14.67% | 30.64% | 41.89% | -77.39% | 4.51% | -35.91% | -11.64% | -92.97% | -122.43% | -26.91% | 102.20% | 78.53% | 127.29% |
Free Cash Flow Margin | 19.47% | 17.83% | 15.75% | 15.38% | 21.73% | 19.47% | 16.28% | 12.47% | 20.80% | 16.10% | 5.73% | 5.70% | 5.19% | -10.84% | -6.72% | -3.40% | 19.26% | 2.71% | 5.20% | 13.20% |
EBITDA | 752 | 502 | 389 | 286 | 549 | 349 | 238 | 147 | 166 | 207 | -100 | -121 | 87 | -278 | -132 | -61 | 64.46 | 34.81 | 172.09 | 145.31 |
EBITDA Margin | 20.48% | 17.65% | 14.52% | 12.12% | 19.52% | 16.14% | 11.64% | 7.90% | 7.74% | 12.08% | -5.90% | -8.02% | 5.01% | -20.35% | -10.19% | -5.07% | 4.67% | 3.10% | 15.37% | 14.70% |
D&A For EBITDA | 7 | 8 | 8 | 8 | 8 | 8 | 10 | 10 | 10 | 13 | 17 | 30 | 30 | 29 | 16 | 17 | 22.24 | 13.6 | 14.66 | 15.8 |
EBIT | 745 | 494 | 381 | 278 | 541 | 341 | 228 | 137 | 156 | 194 | -117 | -151 | 57 | -307 | -148 | -78 | 42.22 | 21.21 | 157.43 | 129.51 |
EBIT Margin | 20.29% | 17.37% | 14.22% | 11.78% | 19.24% | 15.77% | 11.15% | 7.36% | 7.28% | 11.32% | -6.91% | -10.01% | 3.28% | -22.47% | -11.43% | -6.48% | 3.06% | 1.89% | 14.06% | 13.10% |
Effective Tax Rate | 16.70% | 14.29% | 16.03% | - | 9.01% | 3.72% | 15.76% | - | 3.67% | 1.37% | - | 10.53% | - | - | - | - | - | 14.32% | 4.38% | 8.11% |
Revenue as Reported | 3,672 | 2,844 | 2,680 | 2,360 | 2,812 | 2,162 | 2,045 | 1,861 | 2,144 | 1,714 | 1,694 | 1,508 | 1,735 | 1,366 | 1,295 | 1,204 | 1,380 | 1,124 | 1,119 | 988.65 |
Updated Feb 11, 2026. Source: S&P Global Market Intelligence. Standard template. Financial Sources.