77/100B142.650
USD
-13.72
(-8.77%)
Post Trading·141.760USD-0.890(-0.62%)
Last updated: · Delayed 15 min
Shopify income statement 2012–2026
14.17B USD over the last twelve months, and 11.56B USD in fiscal year 2025.
Revenue Operating income Net income
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| Fiscal year | TTM 30 Sept 2026 | FY2025 31 Dec 2025 | FY2024 31 Dec 2024 | FY2023 31 Dec 2023 | FY2022 31 Dec 2022 | FY2021 31 Dec 2021 | FY2020 31 Dec 2020 | FY2019 31 Dec 2019 | FY2018 31 Dec 2018 | FY2017 31 Dec 2017 | FY2016 31 Dec 2016 | FY2015 31 Dec 2015 | FY2014 31 Dec 2014 | FY2013 31 Dec 2013 | FY2012 31 Dec 2012 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 14.17B | 11.56B | 8.88B | 7.06B | 5.60B | 4.61B | 2.93B | 1.58B | 1.07B | 673.30M | 389.33M | 205.23M | 105.02M | 50.25M | 23.71M | |
Revenue growth | +32.45% | +30.14% | +25.78% | +26.07% | +21.43% | +57.43% | +85.63% | +47.05% | +59.40% | +72.94% | +89.70% | ||||
Cost of revenue | 7.44B | 6.00B | 4.41B | 3.55B | 2.85B | 2.13B | 1.39B | 712.53M | 476.96M | 293.05M | 179.84M | 94.16M | 43.22M | 13.51M | 4.78M |
Gross profit | 6.73B | 5.56B | 4.47B | 3.52B | 2.75B | 2.48B | 1.54B | 865.64M | 596.27M | 380.25M | 209.50M | 111.07M | 61.80M | 36.74M | 18.94M |
Gross margin | 47.49% | 48.07% | 50.36% | 49.79% | 49.18% | 53.80% | 52.62% | 54.85% | 55.56% | 56.48% | 53.81% | ||||
Research and development | 1.77B | 1.54B | 1.37B | 1.73B | 1.50B | 854.38M | 552.13M | 355.02M | 230.67M | 136.00M | 74.34M | 39.72M | 25.92M | 13.68M | 6.45M |
Selling, general and administrative | 2.40B | 2.13B | 1.80B | 1.71B | 1.94B | 1.28B | 847.39M | 626.61M | 457.51M | 293.41M | 172.32M | 89.11M | 57.50M | 27.33M | 14.00M |
Operating expenses | 4.66B | 4.09B | 3.40B | 4.93B | 3.58B | 2.21B | 1.45B | 1.01B | 688.19M | 429.41M | 246.66M | 128.83M | 83.41M | 41.01M | 20.45M |
| 2.07B | 1.47B | 1.08B | -1.42B | -822.00M | 268.64M | 90.15M | -141.15M | -91.92M | -49.16M | -37.17M | -17.76M | -21.62M | -4.27M | -1.51M | |
Operating income growth | +58.91% | +36.56% | — | — | -405.98% | +197.99% | — | — | — | — | — | ||||
Operating margin | 14.60% | 12.70% | 12.11% | -20.09% | -14.68% | 5.83% | 3.08% | -8.94% | -8.56% | -7.30% | -9.55% | ||||
Interest income | 285.00M | 331.00M | 308.00M | 241.00M | 76.01M | 15.36M | 24.67M | 48.18M | 29.44M | 7.85M | 1.54M | 200.00K | 57.00K | 42.00K | 50.00K |
Interest expense | — | — | — | — | 1.15M | 3.46M | 9.56M | — | — | — | — | — | — | — | — |
Other non-operating income | 463.00M | 41.00M | 1.15B | 1.60B | -2.80B | 2.87B | 150.21M | 45.33M | 27.37M | 9.16M | 1.81M | -1.03M | -696.00K | -568.00K | 282.00K |
Pretax income | 2.53B | 1.51B | 2.23B | 185.00M | -3.62B | 3.14B | 240.36M | -95.82M | -64.55M | -40.00M | -35.36M | -18.79M | -22.31M | -4.84M | -1.23M |
Income tax | 406.00M | 278.00M | 209.00M | 53.00M | -163.00M | 225.93M | -79.15M | 29.03M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Effective tax rate | 16.03% | 18.42% | 9.38% | 28.65% | — | 7.19% | -32.93% | — | — | — | — | ||||
| 2.13B | 1.23B | 2.02B | 132.00M | -3.46B | 2.91B | 319.51M | -124.84M | -64.55M | -40.00M | -35.36M | -18.79M | -22.31M | -4.84M | -1.23M | |
Net income growth | +19.37% | -39.03% | +1,429.55% | — | -218.71% | +812.23% | — | — | — | — | — | ||||
Net margin | 15.01% | 10.65% | 22.74% | 1.87% | -61.79% | 63.20% | 10.91% | -7.91% | -6.01% | -5.94% | -9.08% | ||||
Basic shares | 1.30B | 1.30B | 1.29B | 1.28B | 1.27B | 1.25B | 1.20B | 1.13B | 1.06B | 957.75M | 839.89M | 617.16M | 666.21M | 663.02M | 661.00M |
| 1.30B | 1.30B | 1.30B | 1.30B | 1.27B | 1.27B | 1.23B | 1.13B | 1.06B | 957.75M | 839.89M | 617.16M | 666.21M | 663.02M | 661.00M | |
Change in diluted shares | -0.28% | +0.26% | +0.46% | +2.31% | -0.58% | +3.16% | +9.23% | +6.96% | +10.33% | +14.03% | +36.09% | ||||
EPS (basic) | 1.65 | 0.95 | 1.56 | 0.10 | -2.73 | 2.32 | 0.27 | -0.11 | -0.06 | -0.04 | -0.04 | -0.03 | -0.03 | -0.01 | -0.00 |
| 1.65 | 0.94 | 1.55 | 0.10 | -2.73 | 2.27 | 0.26 | -0.11 | -0.06 | -0.04 | -0.04 | -0.03 | -0.03 | -0.01 | -0.00 | |
EPS growth | +21.32% | -39.35% | +1,450.00% | — | -220.26% | +773.08% | — | — | — | — | — | ||||
EBITDA | 2.40B | 1.93B | 1.28B | 144.00M | -594.00M | 3.21B | 319.00M | -60.16M | -64.87M | -25.78M | -23.20M | -10.52M | -16.94M | -2.51M | -747.00K |
EBITDA margin | 16.93% | 16.69% | 14.45% | 2.04% | -10.61% | 69.56% | 10.89% | -3.81% | -6.04% | -3.83% | -5.96% | ||||
EBIT | 2.37B | 1.90B | 1.25B | 74.00M | -687.00M | 3.14B | 248.94M | -95.82M | -91.92M | -49.16M | -37.17M | -17.76M | -21.62M | -4.27M | -1.51M |
| Quarter | Q3 FY2026 30 Sept 2026 | Q2 FY2026 30 Jun 2026 | Q1 FY2026 31 Mar 2026 | Q4 FY2025 31 Dec 2025 | Q3 FY2025 30 Sept 2025 | Q2 FY2025 30 Jun 2025 | Q1 FY2025 31 Mar 2025 | Q4 FY2024 31 Dec 2024 | Q3 FY2024 30 Sept 2024 | Q2 FY2024 30 Jun 2024 | Q1 FY2024 31 Mar 2024 | Q4 FY2023 31 Dec 2023 | Q3 FY2023 30 Sept 2023 | Q2 FY2023 30 Jun 2023 | Q1 FY2023 31 Mar 2023 | Q4 FY2022 31 Dec 2022 | Q3 FY2022 30 Sept 2022 | Q2 FY2022 30 Jun 2022 | Q1 FY2022 31 Mar 2022 | Q4 FY2021 31 Dec 2021 | Q3 FY2021 30 Sept 2021 | Q2 FY2021 30 Jun 2021 | Q1 FY2021 31 Mar 2021 | Q4 FY2020 31 Dec 2020 | Q3 FY2020 30 Sept 2020 | Q2 FY2020 30 Jun 2020 | Q1 FY2020 31 Mar 2020 | Q4 FY2019 31 Dec 2019 | Q3 FY2019 30 Sept 2019 | Q2 FY2019 30 Jun 2019 | Q1 FY2019 31 Mar 2019 | Q4 FY2018 31 Dec 2018 | Q3 FY2018 30 Sept 2018 | Q2 FY2018 30 Jun 2018 | Q1 FY2018 31 Mar 2018 | Q4 FY2017 31 Dec 2017 | Q3 FY2017 30 Sept 2017 | Q2 FY2017 30 Jun 2017 | Q1 FY2017 31 Mar 2017 | Q4 FY2016 31 Dec 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 3.74B | 3.58B | 3.17B | 3.67B | 2.84B | 2.68B | 2.36B | 2.81B | 2.16B | 2.05B | 1.86B | 2.14B | 1.71B | 1.69B | 1.51B | 1.73B | 1.37B | 1.30B | 1.20B | 1.38B | 1.12B | 1.12B | 988.65M | 977.74M | 767.41M | 714.34M | 470.00M | 505.16M | 390.55M | 361.98M | 320.48M | 343.86M | 270.06M | 244.96M | 214.34M | 222.81M | 171.46M | 151.66M | 127.38M | 130.38M | |
Revenue growth | +31.58% | +33.69% | +34.32% | +30.58% | +31.54% | +31.05% | +26.81% | +31.16% | +26.14% | +20.72% | ||||||||||||||||||||||||||||||
Cost of revenue | 1.96B | 1.88B | 1.62B | 1.98B | 1.45B | 1.38B | 1.19B | 1.46B | 1.04B | 1.00B | 904.00M | 1.08B | 813.00M | 859.00M | 791.00M | 936.47M | 704.00M | 639.00M | 566.00M | 687.37M | 514.83M | 498.59M | 429.93M | 473.36M | 362.26M | 339.31M | 213.05M | 241.27M | 173.86M | 157.21M | 140.19M | 158.12M | 120.34M | 108.01M | 90.50M | 101.67M | 71.43M | 64.82M | 55.14M | 62.25M |
Gross profit | 1.78B | 1.71B | 1.55B | 1.69B | 1.39B | 1.30B | 1.17B | 1.35B | 1.12B | 1.05B | 957.00M | 1.06B | 901.00M | 835.00M | 717.00M | 798.51M | 662.00M | 656.00M | 638.00M | 692.66M | 608.91M | 620.86M | 558.72M | 504.39M | 405.15M | 375.03M | 256.95M | 263.89M | 216.70M | 204.77M | 180.29M | 185.74M | 149.73M | 136.96M | 123.84M | 121.15M | 100.03M | 86.84M | 72.24M | 68.14M |
Gross margin | 47.59% | 47.67% | 48.77% | 46.11% | 48.91% | 48.58% | 49.53% | 48.08% | 51.71% | 51.10% | ||||||||||||||||||||||||||||||
Research and development | 497.00M | 445.00M | 437.00M | 390.00M | 375.00M | 394.00M | 377.00M | 351.00M | 332.00M | 349.00M | 335.00M | 311.00M | 313.00M | 648.00M | 458.00M | 440.55M | 412.00M | 347.00M | 304.00M | 273.91M | 221.03M | 183.56M | 175.89M | 164.38M | 143.43M | 133.23M | 116.40M | 102.75M | 90.39M | 85.52M | 76.36M | 67.02M | 61.63M | 54.31M | 47.72M | 40.34M | 36.35M | 32.71M | 26.59M | 24.47M |
Selling, general and administrative | 596.00M | 634.00M | 611.00M | 558.00M | 525.00M | 537.00M | 514.00M | 460.00M | 445.00M | 413.00M | 485.00M | 417.00M | 432.00M | 452.00M | 410.00M | 512.39M | 557.00M | 457.00M | 412.00M | 376.53M | 366.67M | 279.88M | 253.33M | 220.12M | 199.41M | 228.16M | 199.70M | 191.22M | 154.57M | 158.87M | 135.33M | 128.18M | 119.47M | 113.41M | 96.46M | 86.92M | 76.35M | 70.03M | 60.11M | 52.97M |
Operating expenses | 1.21B | 1.22B | 1.16B | 1.06B | 1.05B | 1.01B | 966.00M | 887.00M | 835.00M | 804.00M | 871.00M | 773.00M | 779.00M | 2.47B | 910.00M | 987.26M | 1.01B | 846.00M | 736.00M | 678.26M | 613.01M | 481.42M | 439.82M | 391.85M | 354.59M | 374.75M | 330.18M | 293.97M | 252.35M | 244.39M | 216.08M | 195.20M | 181.10M | 167.72M | 144.18M | 127.26M | 112.70M | 102.75M | 86.70M | 77.44M |
| 568.00M | 488.00M | 382.00M | 631.00M | 343.00M | 291.00M | 203.00M | 465.00M | 283.00M | 241.00M | 86.00M | 289.00M | 122.00M | -1.64B | -193.00M | -188.75M | -346.00M | -190.00M | -98.00M | 14.40M | -4.10M | 139.44M | 118.90M | 112.54M | 50.56M | 284.00K | -73.23M | -30.08M | -35.66M | -39.62M | -35.79M | -9.46M | -31.37M | -30.76M | -20.33M | -6.11M | -12.68M | -15.91M | -14.46M | -9.31M | |
Operating income growth | +65.60% | +67.70% | +88.18% | +35.70% | +21.20% | +20.75% | +136.05% | +60.90% | +131.97% | — | ||||||||||||||||||||||||||||||
Operating margin | 15.18% | 13.62% | 12.05% | 17.18% | 12.06% | 10.86% | 8.60% | 16.54% | 13.09% | 11.78% | ||||||||||||||||||||||||||||||
Interest income | 65.00M | 66.00M | 75.00M | 79.00M | 81.00M | 106.00M | 65.00M | 72.00M | 77.00M | 80.00M | 79.00M | 68.00M | 63.00M | 58.00M | 52.00M | 39.56M | 19.71M | 12.40M | 6.27M | 4.92M | 4.52M | 3.09M | 2.83M | 3.30M | 3.79M | 5.95M | 10.47M | 12.29M | 11.64M | 12.17M | 12.08M | — | 8.08M | 7.44M | 4.65M | — | — | 1.44M | 715.00K | — |
Interest expense | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 880.33K | 827.73K | 861.60K | 884.73K | 875.04K | 872.00K | 862.62K | 873.00K | 8.03M | 1.24M | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
Other non-operating income | -69.00M | 1.29B | -1.02B | 261.00M | -35.00M | 788.00M | -973.00M | 956.00M | 577.00M | -38.00M | -342.00M | 393.00M | 606.00M | 335.00M | 269.00M | -425.86M | 188.00M | -1.01B | -1.56B | -503.12M | 1.34B | 779.87M | 1.25B | -2.79M | 135.81M | 4.08M | 13.11M | 11.54M | 11.21M | 10.94M | 11.64M | 7.94M | 8.18M | 6.81M | 4.43M | 3.13M | 3.30M | 1.88M | 863.00K | 438.00K |
Pretax income | 499.00M | 1.78B | -634.00M | 892.00M | 308.00M | 1.08B | -770.00M | 1.42B | 860.00M | 203.00M | -256.00M | 682.00M | 728.00M | -1.30B | 76.00M | -614.61M | -158.00M | -1.20B | -1.65B | -488.72M | 1.34B | 919.32M | 1.37B | 109.75M | 186.37M | 4.37M | -60.12M | -18.54M | -24.45M | -28.68M | -24.15M | -1.51M | -23.18M | -23.95M | -15.90M | -2.99M | -9.38M | -14.03M | -13.60M | -8.87M |
Income tax | 37.00M | 273.00M | -53.00M | 149.00M | 44.00M | 173.00M | -88.00M | 128.00M | 32.00M | 32.00M | 17.00M | 25.00M | 10.00M | 10.00M | 8.00M | 9.09M | 1.00M | 6.00M | -179.00M | -117.41M | 192.02M | 40.22M | 111.10M | -14.12M | -4.70M | -31.63M | -28.70M | -19.31M | 48.34M | -10.94M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Effective tax rate | 7.41% | 15.38% | — | 16.70% | 14.29% | 16.03% | — | 9.01% | 3.72% | 15.76% | ||||||||||||||||||||||||||||||
| 462.00M | 1.50B | -581.00M | 743.00M | 264.00M | 906.00M | -682.00M | 1.29B | 828.00M | 171.00M | -273.00M | 657.00M | 718.00M | -1.31B | 68.00M | -623.69M | -159.00M | -1.20B | -1.47B | -371.31M | 1.15B | 879.09M | 1.26B | 123.87M | 191.07M | 36.00M | -31.43M | 771.00K | -72.78M | -28.68M | -24.15M | -1.51M | -23.18M | -23.95M | -15.90M | -2.99M | -9.38M | -14.03M | -13.60M | -8.87M | |
Net income growth | +75.00% | +65.78% | — | -42.54% | -68.12% | +429.82% | — | +96.80% | +15.32% | — | ||||||||||||||||||||||||||||||
Net margin | 12.35% | 41.92% | -18.33% | 20.23% | 9.28% | 33.81% | -28.90% | 45.98% | 38.30% | 8.36% | ||||||||||||||||||||||||||||||
Basic shares | 1.29B | 1.30B | 1.30B | 1.30B | 1.30B | 1.30B | 1.30B | 1.29B | 1.29B | 1.29B | 1.29B | 1.29B | 1.28B | 1.28B | 1.28B | 1.27B | 1.27B | 1.26B | 1.26B | 1.26B | 1.25B | 1.25B | 1.23B | 1.25B | 1.21B | 1.19B | 1.16B | 1.16B | 1.13B | 1.10B | 1.11B | 1.08B | 1.07B | 1.06B | 1.02B | 995.52M | 987.78M | 942.91M | 902.43M | 891.37M |
| 1.29B | 1.30B | 1.30B | 1.30B | 1.31B | 1.31B | 1.30B | 1.29B | 1.30B | 1.30B | 1.29B | 1.30B | 1.30B | 1.28B | 1.29B | 1.27B | 1.27B | 1.26B | 1.26B | 1.26B | 1.28B | 1.27B | 1.27B | 1.25B | 1.25B | 1.23B | 1.17B | 1.16B | 1.13B | 1.12B | 1.11B | 1.08B | 1.07B | 1.06B | 1.02B | 995.52M | 987.78M | 942.91M | 902.43M | 891.37M | |
Change in diluted shares | -1.69% | -0.84% | +0.62% | +0.80% | +0.87% | +0.70% | +0.62% | -0.21% | +0.45% | +1.52% | ||||||||||||||||||||||||||||||
EPS (basic) | 0.36 | 1.16 | -0.45 | 0.58 | 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 | -0.29 | 0.92 | 0.71 | 1.02 | 0.10 | 0.16 | 0.03 | -0.03 | 0.00 | -0.06 | -0.03 | -0.02 | -0.00 | -0.02 | -0.02 | -0.02 | -0.00 | -0.01 | -0.01 | -0.02 | -0.01 |
| 0.36 | 1.16 | -0.45 | 0.58 | 0.20 | 0.69 | -0.53 | 1.00 | 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 | 0.99 | 0.10 | 0.15 | 0.03 | -0.03 | 0.00 | -0.06 | -0.03 | -0.02 | -0.00 | -0.02 | -0.02 | -0.02 | -0.00 | -0.01 | -0.01 | -0.02 | -0.01 | |
EPS growth | +80.00% | +68.12% | — | -42.00% | -68.75% | +430.77% | — | +96.08% | +16.36% | — | ||||||||||||||||||||||||||||||
EBITDA | 506.00M | 636.00M | 505.00M | 752.00M | 502.00M | 389.00M | 286.00M | 549.00M | 349.00M | 293.00M | -246.00M | 692.00M | 741.00M | -279.00M | 106.00M | -584.50M | -128.17M | -1.18B | -1.64B | -467.94M | 1.35B | 934.26M | 1.39B | 134.98M | 205.48M | 24.30M | -45.76M | -17.38M | -15.70M | -32.25M | -28.96M | -3.61M | -25.17M | -23.34M | -12.75M | 1.65M | -6.94M | -10.55M | -9.93M | -4.87M |
EBITDA margin | 13.52% | 17.75% | 15.93% | 20.48% | 17.65% | 14.51% | 12.12% | 19.52% | 16.14% | 14.33% | ||||||||||||||||||||||||||||||
EBIT | 499.00M | 629.00M | 498.00M | 745.00M | 494.00M | 381.00M | 278.00M | 541.00M | 341.00M | 283.00M | -256.00M | 682.00M | 728.00M | -296.00M | 76.00M | -614.32M | -157.17M | -1.20B | -1.65B | -490.18M | 1.34B | 919.60M | 1.37B | 117.09M | 187.61M | 4.37M | -60.12M | -30.08M | -24.45M | -39.62M | -35.79M | -9.46M | -31.37M | -30.76M | -20.33M | -6.11M | -12.68M | -15.91M | -14.46M | -9.31M |
Figures in USD. Shares and EPS are adjusted for stock splits. Quarterly growth is on the same quarter a year before; TTM is the last four quarters.
Common questions about Shopify's income statement
Source: Financial Modeling Prep