Shopify Inc. (SHOP)
NASDAQ: SHOP · Real-Time Price · USD
103.00
-1.86 (-1.77%)
At close: May 22, 2026, 4:00 PM EDT
103.25
+0.25 (0.24%)
After-hours: May 22, 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 |
| 12,366 | 11,556 | 10,696 | 10,014 | 9,379 | 8,880 | 8,212 | 7,764 | 7,413 | 7,060 | 6,651 | 6,303 | 5,904 | 5,600 | 5,245 | 5,003 | 4,827 | 4,612 | 4,210 | 3,853 | |
Revenue Growth (YoY) | 31.85% | 30.14% | 30.25% | 28.98% | 26.52% | 25.78% | 23.47% | 23.18% | 25.56% | 26.07% | 26.81% | 25.99% | 22.31% | 21.43% | 24.60% | 29.83% | 40.00% | 57.43% | 71.34% | 85.25% |
Cost of Revenue | 6,434 | 6,001 | 5,482 | 5,073 | 4,695 | 4,408 | 4,030 | 3,799 | 3,658 | 3,545 | 3,400 | 3,291 | 3,071 | 2,846 | 2,596 | 2,407 | 2,267 | 2,131 | 1,917 | 1,764 |
Gross Profit | 5,932 | 5,555 | 5,214 | 4,941 | 4,684 | 4,472 | 4,182 | 3,965 | 3,755 | 3,515 | 3,251 | 3,012 | 2,833 | 2,754 | 2,649 | 2,596 | 2,560 | 2,481 | 2,293 | 2,089 |
Selling, General & Admin | 2,231 | 2,134 | 2,036 | 1,956 | 1,832 | 1,803 | 1,760 | 1,747 | 1,786 | 1,711 | 1,806 | 1,931 | 1,936 | 1,938 | 1,803 | 1,612 | 1,435 | 1,276 | 1,120 | 952.73 |
Research & Development | 1,596 | 1,536 | 1,497 | 1,454 | 1,409 | 1,367 | 1,327 | 1,308 | 1,607 | 1,730 | 1,859 | 1,958 | 1,657 | 1,503 | 1,337 | 1,146 | 982.5 | 854.38 | 739.55 | 661.95 |
Other Operating Expenses | 458 | 417 | 379 | 289 | 251 | 227 | 196 | 172 | 1,501 | 1,492 | 1,481 | 1,486 | 157 | 135 | 128.81 | 115.13 | 91.11 | 81.72 | 66.55 | 52.99 |
Total Operating Expenses | 4,285 | 4,087 | 3,912 | 3,699 | 3,492 | 3,397 | 3,283 | 3,227 | 4,894 | 4,933 | 5,146 | 5,375 | 3,750 | 3,576 | 3,268 | 2,873 | 2,509 | 2,213 | 1,926 | 1,668 |
Operating Income | 1,647 | 1,468 | 1,302 | 1,242 | 1,192 | 1,075 | 899 | 738 | -1,139 | -1,418 | -1,895 | -2,363 | -917 | -822 | -619.6 | -277.7 | 51.74 | 268.64 | 366.78 | 421.44 |
Interest Income | 262 | 331 | 252 | 248 | 222 | 308 | 304 | 290 | 268 | 241 | 211 | 168 | 122 | 75 | 41.92 | 26.43 | 17.53 | 15.36 | 13.67 | 12.94 |
Interest Expense | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | -3.49 | -7.85 | -9.09 |
Other Non-Operating Income (Expense) | -413 | -207 | 356 | 972 | 172 | 1,673 | 286 | 329 | 724 | 1,362 | 573 | 198 | -1,099 | -2,876 | -2,919 | -1,746 | 51.4 | 2,860 | 3,369 | 2,161 |
Total Non-Operating Income (Expense) | -263 | 41 | -220 | 392 | -434 | 1,153 | 590 | 619 | 992 | 1,603 | 784 | 366 | -977 | -2,801 | -2,878 | -1,722 | 66.3 | 2,872 | 3,372 | 2,164 |
Pretax Income | 753 | 1,509 | 617 | 1,169 | 293 | 2,228 | 1,489 | 1,357 | -147 | 185 | -1,111 | -1,997 | -1,894 | -3,623 | -3,498 | -1,999 | 118.05 | 3,141 | 3,739 | 2,585 |
Provision for Income Taxes | 164 | 278 | 129 | 117 | -24 | 209 | 106 | 84 | 62 | 53 | 37 | 28 | 24 | -163 | -289.41 | -98.39 | -64.17 | 225.93 | 329.22 | 132.5 |
Net Income | 1,332 | 1,231 | 1,781 | 2,345 | 1,610 | 2,019 | 1,383 | 1,273 | -209 | 132 | -1,148 | -2,025 | -1,918 | -3,460 | -3,208 | -1,901 | 182.21 | 2,915 | 3,410 | 2,452 |
Net Income to Common | 1,332 | 1,231 | 1,781 | 2,345 | 1,610 | 2,019 | 1,383 | 1,273 | -209 | 132 | -1,148 | -2,025 | -1,918 | -3,460 | -3,208 | -1,901 | 182.21 | 2,915 | 3,410 | 2,452 |
Net Income Growth | -17.27% | -39.03% | 28.78% | 84.21% | - | 1429.55% | - | - | - | - | - | - | - | - | - | - | -88.68% | 812.23% | 1636.10% | - |
Shares Outstanding (Basic) | 1,301 | 1,299 | 1,296 | 1,294 | 1,292 | 1,290 | 1,288 | 1,286 | 1,284 | 1,282 | 1,278 | 1,275 | 1,270 | 1,266 | 1,262 | 1,258 | 1,253 | 1,247 | 1,238 | 1,226 |
Shares Outstanding (Diluted) | 1,307 | 1,305 | 1,308 | 1,305 | 1,303 | 1,302 | 1,297 | 1,295 | 1,290 | 1,296 | 1,285 | 1,279 | 1,274 | 1,266 | 1,262 | 1,264 | 1,267 | 1,274 | 1,268 | 1,261 |
Shares Change (YoY) | 0.29% | 0.26% | 0.89% | 0.78% | 0.98% | 0.46% | 0.87% | 1.28% | 1.26% | 2.31% | 1.83% | 1.17% | 0.55% | -0.58% | -0.46% | 0.21% | 1.41% | 3.16% | 5.56% | 7.65% |
EPS (Basic) | 1.02 | 0.95 | 1.37 | 1.81 | 1.24 | 1.57 | 1.07 | 0.99 | -0.16 | 0.10 | -0.90 | -1.58 | -1.51 | -2.73 | -2.54 | -1.50 | 0.16 | 2.34 | 2.75 | 1.99 |
EPS (Diluted) | 1.01 | 0.94 | 1.35 | 1.79 | 1.23 | 1.55 | 1.07 | 0.98 | -0.17 | 0.10 | -0.91 | -1.58 | -1.51 | -2.73 | -2.54 | -1.52 | 0.12 | 2.29 | 2.68 | 1.94 |
EPS Growth | -17.89% | -39.36% | 26.17% | 82.65% | - | 1450.00% | - | - | - | - | - | - | - | - | - | - | -90.60% | 784.17% | 1608.92% | - |
Shares Outstanding | 1,301 | 1,304 | 1,301 | 1,299 | 1,297 | 1,295 | 1,292 | 1,290 | 1,288 | 1,287 | 1,284 | 1,282 | 1,279 | 1,275 | 1,272 | 1,263 | 1,261 | 1,259 | 1,256 | 1,248 |
Free Cash Flow | 2,120 | 2,007 | 1,903 | 1,817 | 1,728 | 1,597 | 1,432 | 1,287 | 1,051 | 905 | 706.39 | 282.39 | 98.39 | -186 | -41.52 | 136.99 | 282.15 | 484.92 | 458.17 | 516.97 |
Free Cash Flow Growth | 22.68% | 25.67% | 32.89% | 41.18% | 64.42% | 76.46% | 102.72% | 355.76% | 968.25% | - | - | 106.14% | -65.13% | - | - | -73.50% | -54.15% | 26.54% | 149.41% | 898.07% |
Free Cash Flow Per Share | 1.62 | 1.54 | 1.45 | 1.39 | 1.33 | 1.23 | 1.10 | 0.99 | 0.81 | 0.70 | 0.55 | 0.22 | 0.08 | -0.15 | -0.03 | 0.11 | 0.22 | 0.38 | 0.36 | 0.41 |
Gross Margin | 47.97% | 48.07% | 48.75% | 49.34% | 49.94% | 50.36% | 50.93% | 51.07% | 50.65% | 49.79% | 48.88% | 47.79% | 47.98% | 49.18% | 50.50% | 51.88% | 53.04% | 53.80% | 54.47% | 54.22% |
Operating Margin | 13.32% | 12.70% | 12.17% | 12.40% | 12.71% | 12.11% | 10.95% | 9.51% | -15.36% | -20.09% | -28.49% | -37.49% | -15.53% | -14.68% | -11.81% | -5.55% | 1.07% | 5.83% | 8.71% | 10.94% |
Profit Margin | 4.76% | 10.65% | 4.56% | 10.51% | 3.38% | 22.74% | 16.84% | 16.40% | -2.82% | 1.87% | -17.26% | -32.13% | -32.49% | -61.79% | -61.17% | -38.00% | 3.77% | 63.20% | 81.00% | 63.65% |
FCF Margin | 17.14% | 17.37% | 17.79% | 18.14% | 18.42% | 17.98% | 17.44% | 16.58% | 14.18% | 12.82% | 10.62% | 4.48% | 1.67% | -3.32% | -0.79% | 2.74% | 5.84% | 10.51% | 10.88% | 13.42% |
EBITDA | 1,677 | 1,499 | 1,334 | 1,274 | 1,226 | 1,111 | 937 | 781 | -1,089 | -1,348 | -1,805 | -2,257 | -812.18 | -729 | -535.36 | -208.85 | 119.25 | 334.95 | 428.74 | 487.67 |
EBITDA Margin | 13.56% | 12.97% | 12.47% | 12.72% | 13.07% | 12.51% | 11.41% | 10.06% | -14.69% | -19.09% | -27.14% | -35.81% | -13.76% | -13.02% | -10.21% | -4.17% | 2.47% | 7.26% | 10.18% | 12.66% |
EBIT | 1,647 | 1,468 | 1,302 | 1,242 | 1,192 | 1,075 | 899 | 738 | -1,139 | -1,418 | -1,895 | -2,363 | -917 | -822 | -619.6 | -277.7 | 51.74 | 268.64 | 366.78 | 421.44 |
EBIT Margin | 13.32% | 12.70% | 12.17% | 12.40% | 12.71% | 12.11% | 10.95% | 9.51% | -15.36% | -20.09% | -28.49% | -37.49% | -15.53% | -14.68% | -11.81% | -5.55% | 1.07% | 5.83% | 8.71% | 10.94% |
Effective Tax Rate | 21.78% | 18.42% | 20.91% | 10.01% | -8.19% | 9.38% | 7.12% | 6.19% | -42.18% | 28.65% | -3.33% | -1.40% | -1.27% | 4.50% | 8.27% | 4.92% | -54.36% | 7.19% | 8.80% | 5.13% |
Updated May 5, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.