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Shopify Inc. (SHOP)
NASDAQ: SHOP · Real-Time Price · USD
146.82
+1.67 (1.15%)
At close: Sep 5, 2025, 4:00 PM
146.81
-0.01 (-0.01%)
After-hours: Sep 5, 2025, 7:57 PM EDT

Shopify Operating Metrics

Period EndingJun 30, 2025Mar 31, 2025Dec 31, 2024Sep 30, 2024Jun 30, 2024Mar 31, 2024Dec 31, 2023Sep 30, 2023Jun 30, 2023Mar 31, 2023Dec 31, 2022Sep 30, 2022Jun 30, 2022Mar 31, 2022Dec 31, 2021Sep 30, 2021Jun 30, 2021Mar 31, 2021Dec 31, 2020Sep 30, 2020Jun 30, 2020Mar 31, 2020Dec 31, 2019Sep 30, 2019Jun 30, 2019Mar 31, 2019Dec 31, 2018Sep 30, 2018Jun 30, 2018Mar 31, 2018Dec 31, 2017Sep 30, 2017Jun 30, 2017Mar 31, 2017Dec 31, 2016Sep 30, 2016Jun 30, 2016Mar 31, 2016
Attach Rate
---3.10%3.00%3.06%2.85%3.05%3.08%3.04%2.79%
Attach Rate Growth
---1.64%-2.60%0.66%2.15%0.66%11.59%8.96%9.41%
Gross Merchandise Volume
326.77B306.13B292.28B272.92B259.40B247.20B235.87B221.77B--
Gross Merchandise Volume Growth
25.97%23.84%23.91%23.06%22.49%21.37%19.55%16.47%--
Gross Payment Volume
---165.30B155.20B145.80B137.12B126.22B118.42B111.62B106.10B--
Gross Payment Volume Growth
---30.96%31.06%30.62%29.23%26.72%24.52%23.33%23.66%--
Gross Payment Volume Percent of Gross Merchandise Volume
---62.00%61.00%59.00%60.00%58.00%58.00%56.00%56.00%--
Monthly Recurring Revenue
185.00M182.00M178.00M175.00M169.00M151.00M149.00M141.00M
Monthly Recurring Revenue Growth
9.47%20.53%19.46%24.11%21.58%30.17%36.07%31.78%

Revenue by Segment

Period EndingJun 30, 2025Mar 31, 2025Dec 31, 2024Sep 30, 2024Jun 30, 2024Mar 31, 2024Dec 31, 2023Sep 30, 2023Jun 30, 2023Mar 31, 2023Dec 31, 2022Sep 30, 2022Jun 30, 2022Mar 31, 2022Dec 31, 2021Sep 30, 2021Jun 30, 2021Mar 31, 2021Dec 31, 2020Sep 30, 2020Jun 30, 2020Mar 31, 2020Dec 31, 2019Sep 30, 2019Jun 30, 2019Mar 31, 2019Dec 31, 2018Sep 30, 2018Jun 30, 2018Mar 31, 2018Dec 31, 2017Sep 30, 2017Jun 30, 2017Mar 31, 2017Dec 31, 2016Sep 30, 2016Jun 30, 2016
Merchant Solutions
7.46B6.94B6.55B6.02B5.70B5.45B5.22B4.94B
Merchant Solutions Growth
30.98%27.37%25.37%21.91%21.19%24.37%27.01%29.76%
Subscription Solutions
2.55B2.46B2.35B2.21B2.09B1.97B1.84B1.71B
Subscription Solutions Growth
22.40%25.08%27.93%29.03%30.13%28.94%23.50%19.00%

Gross Margin by Segment

Period EndingJun 30, 2025Mar 31, 2025Dec 31, 2024Sep 30, 2024Jun 30, 2024Mar 31, 2024Dec 31, 2023Sep 30, 2023Jun 30, 2023Mar 31, 2023Dec 31, 2022Sep 30, 2022Jun 30, 2022Mar 31, 2022Dec 31, 2021Sep 30, 2021Jun 30, 2021Mar 31, 2021Dec 31, 2020Sep 30, 2020Jun 30, 2020Mar 31, 2020Dec 31, 2019Sep 30, 2019Jun 30, 2019Mar 31, 2019Dec 31, 2018Sep 30, 2018Jun 30, 2018Mar 31, 2018Dec 31, 2017Sep 30, 2017Jun 30, 2017Mar 31, 2017Dec 31, 2016Sep 30, 2016Jun 30, 2016
Subscription
81.55%80.16%79.88%82.29%82.80%81.40%81.52%81.89%
Merchant
37.90%38.62%38.21%39.69%39.10%40.00%39.16%40.96%

Gross Profit by Segment

Period EndingJun 30, 2025Mar 31, 2025Dec 31, 2024Sep 30, 2024Jun 30, 2024Mar 31, 2024Dec 31, 2023Sep 30, 2023Jun 30, 2023Mar 31, 2023Dec 31, 2022Sep 30, 2022Jun 30, 2022Mar 31, 2022Dec 31, 2021Sep 30, 2021Jun 30, 2021Mar 31, 2021Dec 31, 2020Sep 30, 2020Jun 30, 2020Mar 31, 2020Dec 31, 2019Sep 30, 2019Jun 30, 2019Mar 31, 2019Dec 31, 2018Sep 30, 2018Jun 30, 2018Mar 31, 2018Dec 31, 2017Sep 30, 2017Jun 30, 2017Mar 31, 2017Dec 31, 2016Sep 30, 2016Jun 30, 2016
Merchant
2.88B2.69B2.56B2.37B2.26B2.15B2.03B1.88B
Merchant Growth
27.38%24.74%25.79%25.93%29.17%30.90%27.26%23.06%
Subscription
2.07B2.00B1.92B1.81B1.71B1.60B1.48B1.37B
Subscription Growth
20.96%24.73%29.20%32.31%34.98%34.83%28.22%22.51%

Operating Expense Breakdown

Period EndingJun 30, 2025Mar 31, 2025Dec 31, 2024Sep 30, 2024Jun 30, 2024Mar 31, 2024Dec 31, 2023Sep 30, 2023Jun 30, 2023Mar 31, 2023Dec 31, 2022Sep 30, 2022Jun 30, 2022Mar 31, 2022Dec 31, 2021Sep 30, 2021Jun 30, 2021Mar 31, 2021Dec 31, 2020Sep 30, 2020Jun 30, 2020Mar 31, 2020Dec 31, 2019Sep 30, 2019Jun 30, 2019Mar 31, 2019Dec 31, 2018Sep 30, 2018Jun 30, 2018Mar 31, 2018Dec 31, 2017Sep 30, 2017Jun 30, 2017Mar 31, 2017Dec 31, 2016Sep 30, 2016Jun 30, 2016
Sales and Marketing
1.50B1.44B1.39B1.36B1.33B1.29B1.22B1.20B
Sales and Marketing Growth
13.05%11.05%14.18%13.43%9.75%6.58%-0.85%-0.62%
Research and Development
1.45B1.41B1.37B1.33B1.31B1.61B1.73B1.86B
Research and Development Growth
11.16%-12.32%-20.98%-28.64%-33.23%-3.05%15.09%39.13%
General and Administrative
457.00M395.00M410.00M398.00M421.00M492.00M491.00M605.65M
General and Administrative Growth
8.55%-19.72%-16.50%-34.29%-41.83%-31.92%-30.63%1.93%
Transaction and Loan Losses
289.00M251.00M227.00M196.00M172.00M161.00M152.00M141.32M---------------
Transaction and Loan Losses Growth
68.02%55.90%49.34%38.69%18.57%2.92%12.65%10.04%---------------
Source: Business metrics provided by Main Street Data and sourced from official company press releases and documents.