SHOP
Shopify Inc.
Stock
$151.39+2.30 (+1.54%)Close Oct 2, 2026
Income statement
| Line | Last 12 months | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $13.3B | $11.6B | $8.9B | $7.1B | $5.6B | $4.6B | $2.9B | $1.6B | $1.1B | $673M |
| Cost of revenue | $6.9B | $6.0B | $4.4B | $3.5B | $2.8B | $2.1B | $1.4B | $713M | $477M | $293M |
| Gross profit | $6.3B | $5.6B | $4.5B | $3.5B | $2.8B | $2.5B | $1.5B | $866M | $596M | $380M |
| R&D | $1.6B | $1.5B | $1.4B | $1.7B | $1.5B | $854M | $552M | $355M | $231M | $136M |
| SG&A | $2.3B | $2.1B | $1.8B | $1.7B | $1.9B | $1.3B | $847M | $627M | $458M | $293M |
| Other operating expenses | $519M | $417M | $227M | $1.5B | $135M | $82M | $52M | $25M | — | — |
| Operating income | $1.8B | $1.5B | $1.1B | −$1.4B | −$822M | $269M | $90M | −$141M | −$92M | −$49M |
| Non-operating income | — | $41M | $1.2B | $1.6B | — | — | — | — | — | — |
| Pretax income | — | $1.5B | $2.2B | $185M | — | — | — | — | — | — |
| Taxes | — | $278M | $209M | $53M | — | — | — | — | — | — |
| Net income | $1.9B | $1.2B | $2.0B | $132M | −$3.5B | $2.9B | $320M | −$125M | −$65M | −$40M |
| Diluted EPS | $1.48 | $0.94 | $1.55 | $0.10 | −$2.73 | $2.29 | $0.26 | −$0.11 | −$0.06 | −$0.04 |
| Diluted shares | — | 1.30B | 1.30B | 1.30B | 1.27B | 1.27B | 1.23B | 1.13B | 1.06B | 957.7M |
| Revenue growth | — | +30.1% | +25.8% | +26.1% | +21.4% | +57.4% | +85.6% | +47.0% | +59.4% | — |
| Gross margin | 47.8% | 48.1% | 50.4% | 49.8% | 49.2% | 53.8% | 52.6% | 54.9% | 55.6% | 56.5% |
| Operating margin | 13.9% | 12.7% | 12.1% | −20.1% | −14.7% | 5.8% | 3.1% | −8.9% | −8.6% | −7.3% |
| Net margin | 14.5% | 10.7% | 22.7% | 1.9% | −61.8% | 63.2% | 10.9% | −7.9% | −6.0% | −5.9% |