Shopify (SHOP) is trading up at $160.11 (+5.76%) on NASDAQ, as of the latest quote. It is a Nasdaq-100 constituent in the Information Technology sector.
Shopify revenue & net income history (FY2016–FY2025)
| FY2016Dec 2016 | FY2017Dec 2017 | FY2018Dec 2018 | FY2019Dec 2019 | FY2020Dec 2020 | FY2021Dec 2021 | FY2022Dec 2022 | FY2023Dec 2023 | FY2024Dec 2024 | FY2025Dec 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||||
| Revenue | $389.3M | $673.3M | $1.07B | $1.58B | $2.93B | $4.61B | $5.60B | $7.06B | $8.88B | $11.6B |
| Growth (year over year) | +89.7% | +72.9% | +59.4% | +47.0% | +85.6% | +57.4% | +21.4% | +26.1% | +25.8% | +30.1% |
| Gross profit | $209.5M | $380.3M | $596.3M | $865.6M | $1.54B | $2.48B | $2.75B | $3.52B | $4.47B | $5.55B |
| Gross margin | 53.8% | 56.5% | 55.6% | 54.9% | 52.6% | 53.8% | 49.2% | 49.8% | 50.4% | 48.1% |
| Operating income | −$37.2M | −$49.2M | −$91.9M | −$141.1M | $90.2M | $268.6M | −$822.0M | −$1.42B | $1.07B | $1.47B |
| Operating margin | −9.5% | −7.3% | −8.6% | −8.9% | 3.1% | 5.8% | −14.7% | −20.1% | 12.1% | 12.7% |
| Net income | −$35.4M | −$40.0M | −$64.6M | −$124.8M | $319.5M | $2.91B | −$3.46B | $132.0M | $2.02B | $1.23B |
| Net margin | −9.1% | −5.9% | −6.0% | −7.9% | 10.9% | 63.2% | −61.8% | 1.9% | 22.7% | 10.7% |
| EPS (diluted) | −$0.00 | −$0.00 | −$0.01 | −$0.11 | $0.26 | $2.29 | −$2.73 | $0.10 | $1.55 | $0.94 |
| Balance sheet | ||||||||||
| Cash and equivalents | $84.0M | $141.7M | $410.7M | $649.9M | $2.70B | $2.50B | $1.65B | $1.41B | $1.50B | $1.54B |
| Total assets | $490.6M | $1.11B | $2.25B | $3.49B | $7.76B | $13.3B | $10.8B | $11.3B | $13.9B | $15.2B |
| Total liabilities | $80.1M | $112.5M | $164.0M | $473.7M | $1.36B | $2.21B | $2.52B | $2.23B | $2.37B | $1.72B |
| Shareholders' equity | $410.5M | $1.00B | $2.09B | $3.02B | $6.40B | $11.1B | $8.24B | $9.07B | $11.6B | $13.5B |
| Cash flow | ||||||||||
| Operating cash flow | $14.0M | $7.90M | $9.32M | $70.6M | $425.0M | $535.7M | −$136.0M | $944.0M | $1.62B | $2.03B |
| Capital expenditure | $23.8M | $20.0M | $27.9M | $56.8M | $41.7M | $50.8M | $50.0M | $39.0M | $19.0M | $26.0M |
| Free cash flow | −$9.76M | −$12.1M | −$18.6M | $13.9M | $383.2M | $484.9M | −$186.0M | $905.0M | $1.60B | $2.01B |
| Q3 FY24Sep 2024 | Q4 FY24†Dec 2024 | Q1 FY25Mar 2025 | Q2 FY25Jun 2025 | Q3 FY25Sep 2025 | Q4 FY25†Dec 2025 | Q1 FY26Mar 2026 | Q2 FY26Jun 2026 | |
|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||
| Revenue | $2.16B | $2.81B | $2.36B | $2.68B | $2.84B | $3.67B | $3.17B | $3.58B |
| Growth (year over year) | — | — | +26.8% | +31.1% | +31.5% | +30.6% | +34.3% | +33.7% |
| Gross profit | $1.12B | $1.35B | $1.17B | $1.30B | $1.39B | $1.69B | $1.55B | $1.71B |
| Gross margin | 51.7% | 48.1% | 49.5% | 48.6% | 48.9% | 46.1% | 48.8% | 47.7% |
| Operating income | $283.0M | $465.0M | $203.0M | $291.0M | $343.0M | $631.0M | $382.0M | $488.0M |
| Operating margin | 13.1% | 16.5% | 8.6% | 10.9% | 12.1% | 17.2% | 12.1% | 13.6% |
| Net income | $828.0M | $1.29B | −$682.0M | $906.0M | $264.0M | $743.0M | −$581.0M | $1.50B |
| Net margin | 38.3% | 46.0% | −28.9% | 33.8% | 9.3% | 20.2% | −18.3% | 41.9% |
| EPS (diluted) | $0.64 | $0.99 | −$0.53 | $0.69 | $0.20 | $0.58 | −$0.45 | $1.16 |
| Balance sheet | ||||||||
| Cash and equivalents | $1.51B | $1.50B | $1.31B | $1.54B | $2.41B | $1.54B | $1.85B | $1.66B |
| Total assets | — | $13.9B | $13.4B | $14.6B | $15.0B | $15.2B | $14.1B | $14.5B |
| Total liabilities | — | $2.37B | $2.35B | $2.44B | $2.53B | $1.72B | $1.62B | $1.79B |
| Shareholders' equity | $10.1B | $11.6B | $11.1B | $12.1B | $12.5B | $13.5B | $12.5B | $12.7B |
| Cash flow | ||||||||
| Operating cash flow | $423.0M | $615.0M | $367.0M | $428.0M | $513.0M | $725.0M | $481.0M | $658.0M |
| Capital expenditure | $2.00M | $4.00M | $4.00M | $6.00M | $6.00M | $10.0M | $5.00M | $4.00M |
| Free cash flow | $421.0M | $611.0M | $363.0M | $422.0M | $507.0M | $715.0M | $476.0M | $654.0M |
| Share buybacks | — | — | $0 | $0 | — | — | $491.0M | $1.42B |
From Shopify's 10-K, 10-Q, 20-F and 40-F filings with the SEC; its fiscal year ends in December. Each period shows the latest figure the company has reported for it, including restatements. Per-share figures are per ordinary share, which is not always the share traded in the US: an ADS can stand for several, or for part of one. † Quarter derived from the company's year-to-date or full-year totals. Filings on SEC EDGAR →
About Shopify
Shopify Inc. is a Canadian multinational e-commerce company headquartered in Ottawa, Ontario, that operates a cloud e-commerce management platform (CEMP) for retail point-of-sale systems. The company has over five million customers and processed US$292.3 billion in transactions in 2024, of which 57% was in the United States. Major customers include Tesla, LVMH, Nestlé, PepsiCo, AB InBev, Kraft Heinz, Lindt, Whole Foods Market, Red Bull, and Hyatt.
- Headquarters
- Ottawa, Canada From SEC filings, Oct 2026
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