Shopify Inc. (SHOP)
NASDAQ: SHOP · Real-Time Price · USD
124.48
+0.92 (0.74%)
At close: Jul 20, 2026, 4:00 PM EDT
124.60
+0.12 (0.10%)
After-hours: Jul 20, 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 | Q1 2026 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Mar '26 Mar 31, 2026 | 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 |
| 3,170 | 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 | |
Revenue Growth (YoY) | 34.32% | 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% |
Cost of Revenue | 1,624 | 1,979 | 1,453 | 1,378 | 1,191 | 1,460 | 1,044 | 1,000 | 904 | 1,082 | 813 | 859 | 791 | 937 | 704 | 639 | 566 | 687.37 | 514.83 | 498.59 |
Gross Profit | 1,546 | 1,693 | 1,391 | 1,302 | 1,169 | 1,352 | 1,118 | 1,045 | 957 | 1,062 | 901 | 835 | 717 | 798 | 662 | 656 | 638 | 692.66 | 608.91 | 620.86 |
Selling, General & Admin | 611 | 558 | 525 | 537 | 514 | 460 | 445 | 413 | 485 | 417 | 432 | 452 | 410 | 512 | 557 | 457 | 412 | 376.53 | 366.67 | 279.88 |
Research & Development | 437 | 390 | 375 | 394 | 377 | 351 | 332 | 349 | 335 | 311 | 313 | 648 | 458 | 440 | 412 | 347 | 304 | 273.91 | 221.03 | 183.56 |
Other Operating Expenses | 116 | 114 | 148 | 80 | 75 | 76 | 58 | 42 | 51 | 45 | 34 | 1,371 | 42 | 34 | 39 | 42 | 20 | 27.81 | 25.31 | 17.99 |
Total Operating Expenses | 1,164 | 1,062 | 1,048 | 1,011 | 966 | 887 | 835 | 804 | 871 | 773 | 779 | 2,471 | 910 | 986 | 1,008 | 846 | 736 | 678.26 | 613.01 | 481.42 |
Operating Income | 382 | 631 | 343 | 291 | 203 | 465 | 283 | 241 | 86 | 289 | 122 | -1,636 | -193 | -188 | -346 | -190 | -98 | 14.4 | -4.1 | 139.44 |
Interest Income | 75 | 79 | 81 | 106 | 65 | 72 | 77 | 80 | 79 | 68 | 63 | 58 | 52 | 38 | 20 | 12 | 5 | 4.92 | 4.52 | 3.09 |
Other Non-Operating Income (Expense) | -1,091 | 276 | -116 | 682 | -1,038 | 884 | 500 | -118 | -421 | 325 | 543 | 277 | 217 | -464 | 168 | -1,020 | -1,560 | -507.16 | 1,341 | 777.65 |
Total Non-Operating Income (Expense) | -1,016 | 261 | -35 | 788 | -973 | 956 | 577 | -38 | -342 | 393 | 606 | 335 | 269 | -426 | 188 | -1,008 | -1,555 | -503.12 | 1,345 | 779.87 |
Pretax Income | -634 | 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 |
Provision for Income Taxes | -53 | 149 | 44 | 173 | -88 | 128 | 32 | 32 | 17 | 25 | 10 | 10 | 8 | 9 | 1 | 6 | -179 | -117.41 | 192.02 | 40.22 |
Net Income | -581 | 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 |
Net Income to Common | -581 | 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 |
Net Income Growth | - | -42.54% | -68.12% | 429.83% | - | 96.80% | 15.32% | - | - | - | - | - | - | - | - | - | - | - | 501.06% | 2342.06% |
Shares Outstanding (Basic) | 1,303 | 1,303 | 1,300 | 1,298 | 1,295 | 1,292 | 1,291 | 1,289 | 1,287 | 1,286 | 1,283 | 1,280 | 1,277 | 1,273 | 1,269 | 1,262 | 1,260 | 1,257 | 1,251 | 1,245 |
Shares Outstanding (Diluted) | 1,303 | 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 |
Shares Change (YoY) | 0.62% | -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% |
EPS (Basic) | -0.45 | 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 | -0.12 | -0.95 | -1.17 | -0.30 | 0.92 | 0.71 |
EPS (Diluted) | -0.45 | 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 | -0.12 | -0.95 | -1.17 | -0.30 | 0.90 | 0.69 |
EPS Growth | - | -42.42% | -68.75% | 430.77% | - | 94.12% | 16.36% | - | - | - | - | - | - | - | - | - | - | - | 484.42% | 2279.31% |
Free Cash Flow | 476 | 715 | 507 | 422 | 363 | 611 | 421 | 333 | 232 | 446 | 276 | 97 | 86 | 90 | -148 | -87 | -41 | 234.48 | 30.5 | 58.16 |
Free Cash Flow Growth | 31.13% | 17.02% | 20.43% | 26.73% | 56.47% | 37.00% | 52.54% | 243.30% | 169.77% | 395.56% | - | - | - | -61.62% | - | - | - | -1.89% | -61.54% | -62.86% |
Free Cash Flow Per Share | 0.37 | 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 | 0.19 | 0.02 | 0.05 |
Gross Margin | 48.77% | 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% | 50.19% | 54.19% | 55.46% |
Operating Margin | 12.05% | 17.18% | 12.06% | 10.86% | 8.60% | 16.54% | 13.09% | 11.78% | 4.62% | 13.48% | 7.12% | -96.58% | -12.80% | -10.84% | -25.33% | -14.67% | -8.14% | 1.04% | -0.36% | 12.46% |
Profit Margin | -18.33% | 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% |
FCF Margin | 15.02% | 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% | -10.83% | -6.72% | -3.41% | 16.99% | 2.71% | 5.20% |
EBITDA | 389 | 638 | 351 | 299 | 211 | 473 | 291 | 251 | 96 | 299 | 135 | -1,619 | -163 | -158 | -317 | -174 | -81 | 36.65 | 9.5 | 154.1 |
EBITDA Margin | 12.27% | 17.37% | 12.34% | 11.16% | 8.94% | 16.82% | 13.46% | 12.27% | 5.16% | 13.95% | 7.88% | -95.57% | -10.81% | -9.11% | -23.21% | -13.44% | -6.73% | 2.66% | 0.85% | 13.77% |
EBIT | 382 | 631 | 343 | 291 | 203 | 465 | 283 | 241 | 86 | 289 | 122 | -1,636 | -193 | -188 | -346 | -190 | -98 | 14.4 | -4.1 | 139.44 |
EBIT Margin | 12.05% | 17.18% | 12.06% | 10.86% | 8.60% | 16.54% | 13.09% | 11.78% | 4.62% | 13.48% | 7.12% | -96.58% | -12.80% | -10.84% | -25.33% | -14.67% | -8.14% | 1.04% | -0.36% | 12.46% |
Effective Tax Rate | 8.36% | 16.70% | 14.29% | 16.03% | 11.43% | 9.01% | 3.72% | 15.76% | -6.64% | 3.67% | 1.37% | -0.77% | 10.53% | -1.47% | -0.63% | -0.50% | 10.83% | 24.02% | 14.32% | 4.38% |