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Shopify Inc. (SHOP)
NASDAQ: SHOP · Real-Time Price · USD
107.70
+0.59 (0.55%)
At close: May 29, 2025, 4:00 PM
107.25
-0.45 (-0.42%)
After-hours: May 29, 2025, 7:57 PM EDT

Shopify Revenue by Segment
Period Ending Mar 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
6.94B 6.55B 6.02B 5.70B 5.45B 5.22B 4.94B 4.70B
Merchant Solutions Growth
27.37% 25.37% 21.91% 21.19% 24.37% 27.01% 29.76% 30.44%
Subscription Solutions
2.46B 2.35B 2.21B 2.09B 1.97B 1.84B 1.71B 1.60B
Subscription Solutions Growth
25.08% 27.93% 29.03% 30.13% 28.94% 23.50% 19.00% 14.56%

Operating Metrics

Period Ending Mar 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
Gross Merchandise Volume
306.13B 292.28B 272.92B 259.40B 247.20B 235.87B 221.77B 211.77B - -
Gross Merchandise Volume Growth
23.84% 23.91% 23.06% 22.49% 21.37% 19.55% 16.47% 13.85% - -
Gross Payment Volume
- - 165.30B 155.20B 145.80B 137.12B 126.22B 118.42B 111.62B 106.10B - -
Gross Payment Volume Growth
- - 30.96% 31.06% 30.62% 29.23% 26.72% 24.52% 23.33% 23.66% - -
Monthly Recurring Revenue
182.00M 178.00M 175.00M 169.00M 151.00M 149.00M 141.00M 139.00M
Monthly Recurring Revenue Growth
20.53% 19.46% 24.11% 21.58% 30.17% 36.07% 31.78% 29.66%
Gross Payment Volume % of Gross Merchandise Volume
- - 62.00% 61.00% 59.00% 60.00% 58.00% 58.00% 56.00% 56.00% - -
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 Margin by Segment
Period Ending Mar 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
80.16 79.88 82.29 82.80 81.40 81.52 81.89 80.86
Merchant
38.62 38.21 39.69 39.10 40.00 39.16 40.96 38.08

Gross Profit by Segment
Period Ending Mar 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
2.69B 2.56B 2.37B 2.26B 2.15B 2.03B 1.88B 1.75B
Merchant Growth
24.74% 25.79% 25.93% 29.17% 30.90% 27.26% 23.06% 16.38%
Subscription
2.00B 1.92B 1.81B 1.71B 1.60B 1.48B 1.37B 1.27B
Subscription Growth
24.73% 29.20% 32.31% 34.98% 34.83% 28.22% 22.51% 15.78%

Operating Expense Breakdown
Period Ending Mar 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
1.44B 1.39B 1.36B 1.33B 1.29B 1.22B 1.20B 1.21B
Sales and Marketing Growth
11.05% 14.18% 13.43% 9.75% 6.58% -0.85% -0.62% 5.64%
Research and Development
1.41B 1.37B 1.33B 1.31B 1.61B 1.73B 1.86B 1.96B
Research and Development Growth
-12.32% -20.98% -28.64% -33.23% -3.05% 15.09% 39.13% 71.04%
General and Administrative
395.00M 410.00M 398.00M 421.00M 492.00M 491.00M 605.65M 723.78M
General and Administrative Growth
-19.72% -16.50% -34.29% -41.83% -31.92% -30.63% 1.93% 54.73%
Transaction and Loan Losses
251.00M 227.00M 196.00M 172.00M 161.00M 152.00M 141.32M 145.06M
Transaction and Loan Losses Growth
55.90% 49.34% 38.69% 18.57% 2.92% 12.65% 10.04% 25.05%
Impairments
- - - - - - - 1.34B
Source: Business metrics provided by Main Street Data and sourced from official company press releases and documents.