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Shopify Inc. (SHOP)
NASDAQ: SHOP · Real-Time Price · USD
122.54
-0.63 (-0.51%)
At close: Jul 10, 2026, 4:00 PM EDT
122.50
-0.04 (-0.03%)
After-hours: Jul 10, 2026, 7:59 PM EDT

Shopify Operating Metrics

Period EndingMar 31, 2026Dec 31, 2025Sep 30, 2025Jun 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, 2016Dec 31, 2015Sep 30, 2015
Gross Merchandise Volume
404.44B378.44B349.06B326.77B306.13B292.28B272.92B259.40B----
Gross Merchandise Volume Growth
32.11%29.48%27.90%25.97%23.84%23.91%23.06%22.49%----
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%----
Monthly Recurring Revenue
795.00M765.00M738.00M720.00M704.00M673.00M644.00M610.00M--
Monthly Recurring Revenue Growth
12.93%13.67%14.60%18.03%21.38%23.49%27.40%29.37%--
Gross Payment Volume Percent of Gross Merchandise Volume
------246.00240.00238.00236.00--
Attach Rate
------12.2012.1211.8211.80
Attach Rate Growth
------3.21%2.71%-3.59%-3.59%

Revenue by Segment

Period EndingMar 31, 2026Dec 31, 2025Sep 30, 2025Jun 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
9.48B8.80B8.06B7.46B6.94B6.55B6.02B5.70B
Merchant Solutions Growth
36.70%34.45%33.78%30.98%27.37%25.37%21.91%21.19%
Subscription Solutions
2.88B2.75B2.64B2.55B2.46B2.35B2.21B2.09B
Subscription Solutions Growth
17.20%17.11%19.56%22.40%25.08%27.93%29.03%30.13%

Gross Margin by Segment

Period EndingMar 31, 2026Dec 31, 2025Sep 30, 2025Jun 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
80.2780.9581.6981.5580.1679.8882.2982.80
Merchant
39.0136.7538.2337.9038.6238.2139.6939.10

Gross Profit by Segment

Period EndingMar 31, 2026Dec 31, 2025Sep 30, 2025Jun 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
3.60B3.32B3.08B2.88B2.69B2.56B2.37B2.26B
Merchant Growth
33.79%30.01%29.92%27.38%24.74%25.79%25.93%29.17%
Subscription
2.34B2.23B2.14B2.07B2.00B1.92B1.81B1.71B
Subscription Growth
17.03%16.49%17.83%20.96%24.73%29.20%32.31%34.98%

Operating Expense Breakdown

Period EndingMar 31, 2026Dec 31, 2025Sep 30, 2025Jun 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
1.75B1.66B1.58B1.50B1.44B1.39B1.36B1.33B
Sales and Marketing Growth
22.06%19.38%15.86%13.05%11.05%14.18%13.43%9.75%
Research and Development
1.60B1.54B1.50B1.45B1.41B1.37B1.33B1.31B
Research and Development Growth
13.27%12.36%12.81%11.16%-12.32%-20.98%-28.64%-33.23%
General and Administrative
477.00M471.00M458.00M457.00M395.00M410.00M398.00M421.00M
General and Administrative Growth
20.76%14.88%15.08%8.55%-19.72%-16.50%-34.29%-41.83%
Transaction and Loan Losses
458.00M417.00M379.00M289.00M251.00M227.00M196.00M172.00M
Transaction and Loan Losses Growth
82.47%83.70%93.37%68.02%55.90%49.34%38.69%18.57%