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Shopify Inc (SHOP) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

TECHNOLOGY · SOFTWARE - APPLICATION · DATA UPDATED 2026-07-19

Shopify Inc (SHOP) operates in the SOFTWARE - APPLICATION industry and is headquartered in Ottawa, Canada with about 7,600 employees. Its market capitalization is roughly $148 billion. In the fiscal year ended 2025-12-31, SHOP reported $11.6B in revenue and $1.2B in net income.

Shopify Inc., a commerce technology company, provides tools to start, scale, market, and run a business of various sizes in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, and Latin America.

Interactive charts & full statements → Open the SHOP valuation workbench →

SHOP Revenue & Earnings History — Annual Income Statement

Income statement	TTM → 2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31
Total Revenue	$12.4B	$11.6B	$8.9B	$7.1B	$5.6B	$4.6B	$2.9B	$1.6B	$1.1B	$673M	$389M	$205M	$105M	$50M	$24M
Gross Profit	$5.9B	$5.6B	$4.5B	$3.5B	$2.8B	$2.5B	$1.5B	$866M	$596M	$380M	$209M	$111M	$62M	$37M	$19M
Gross Margin %	48.0%	48.1%	50.4%	49.8%	49.2%	53.8%	52.6%	54.9%	55.6%	56.5%	53.8%	54.1%	58.8%	73.1%	79.9%
Operating Income (EBIT)	$1.6B	$1.5B	$1.1B	($1.4B)	($822M)	$269M	$90M	($141M)	($92M)	($49M)	($37M)	($18M)	($22M)	($4M)	($2M)
Operating Margin %	13.3%	12.7%	12.1%	-20.1%	-14.7%	5.8%	3.1%	-8.9%	-8.6%	-7.3%	-9.6%	-8.6%	-20.6%	-8.5%	-6.4%
Net Income	$1.3B	$1.2B	$2.0B	$132M	($3.5B)	$2.9B	$320M	($125M)	($65M)	($40M)	($35M)	($19M)	($22M)	($5M)	($1M)
Net Margin %	10.8%	10.7%	22.7%	1.9%	-61.8%	63.2%	10.9%	-7.9%	-6.0%	-5.9%	-9.1%	-9.2%	-21.2%	-9.6%	-5.2%
EBITDA	$586M	$1.5B	$1.3B	$144M	($594M)	$3.2B	$319M	($60M)	($65M)	($26M)	($23M)	($11M)	($17M)	($3M)	($1M)
Earnings Per Share (EPS)	$1.02	$0.94	$1.55	$0.10	$-2.73	$2.29	$0.26	$-0.11	$-0.06	$-0.04	$-0.04	$-0.03	$-0.03	$-0.01	$-0.00
Shares Outstanding (M)	1,303M	1,305M	1,302M	1,296M	1,266M	1,274M	1,235M	1,130M	1,057M	958M	840M	617M	666M	663M	661M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

SHOP Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30
Total Revenue	$3.2B	$3.7B	$2.8B	$2.7B	$2.4B	$2.8B	$2.2B	$2.0B
Gross Profit	$1.5B	$1.7B	$1.4B	$1.3B	$1.2B	$1.4B	$1.1B	$1.0B
Gross Margin %	48.8%	46.1%	48.9%	48.6%	49.5%	48.1%	51.7%	51.1%
Operating Income (EBIT)	$382M	$631M	$343M	$291M	$203M	$465M	$283M	$241M
Operating Margin %	12.0%	17.2%	12.1%	10.9%	8.6%	16.5%	13.1%	11.8%
Net Income	($581M)	$743M	$264M	$906M	($682M)	$1.3B	$828M	$171M
Net Margin %	-18.3%	20.2%	9.3%	33.8%	-28.9%	46.0%	38.3%	8.4%
EBITDA	($627M)	$518M	$316M	$379M	$286M	$473M	$349M	$293M
Earnings Per Share (EPS)	$-0.45	$0.57	$0.20	$0.69	$-0.53	$1.00	$0.64	$0.13
Shares Outstanding (M)	1,303M	1,305M	1,313M	1,309M	1,295M	1,295M	1,302M	1,300M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

SHOP Free Cash Flow History

Cash flow	TTM → 2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31
Cash from Operations (CFO)	$2.2B	$2.0B	$1.6B	$944M	($136M)	$536M	$425M	$71M	$9M	$8M	$14M	$16M	($1M)	$1M	$2M
Capital Expenditures (CapEx)	$27M	$26M	$19M	$39M	$50M	$51M	$42M	$62M	$42M	$24M	$26M	$21M	$23M	$5M	$2M
Free Cash Flow (FCF)	$2.1B	$2.0B	$1.6B	$905M	($186M)	$485M	$383M	$8M	($32M)	($16M)	($12M)	($5M)	($24M)	($3M)	$0M
FCF Margin %	17.2%	17.4%	18.0%	12.8%	-3.3%	10.5%	13.1%	0.5%	-3.0%	-2.4%	-3.1%	-2.6%	-22.4%	-6.2%	0.1%

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

SHOP Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30
Cash from Operations (CFO)	$481M	$725M	$513M	$436M	$367M	$615M	$423M	$340M
Capital Expenditures (CapEx)	$5M	$10M	$6M	$6M	$4M	$4M	$2M	$7M
Free Cash Flow (FCF)	$476M	$715M	$507M	$430M	$363M	$611M	$421M	$333M
FCF Margin %	15.0%	19.5%	17.8%	16.0%	15.4%	21.7%	19.5%	16.3%

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

SHOP Balance Sheet History

Balance sheet	2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31
Total Assets	$14.2B	$15.2B	$13.9B	$11.3B	$10.8B	$13.3B	$7.8B	$3.5B	$2.3B	$1.1B	$491M	$244M	$95M	$96M
Cash & Cash Equivalents	$1.9B	$1.5B	$1.5B	$1.4B	$1.6B	$2.5B	$2.7B	$650M	$411M	$142M	$84M	$110M	$42M	$84M
Total Liabilities	$1.6B	$1.7B	$2.4B	$2.2B	$2.5B	$2.2B	$1.4B	$474M	$164M	$112M	$80M	$48M	$27M	$10M
Total Debt (Short + Long-Term)	$16M	$17M	$936M	$933M	$931M	$927M	$768M	$9M	$3M	$1M	$1M	$1M	$0M	$0M
Total Shareholders' Equity	$12.5B	$13.5B	$11.6B	$9.1B	$8.2B	$11.1B	$6.4B	$3.0B	$2.1B	$1.0B	$410M	$195M	$68M	$85M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive SHOP viewer.

Other Companies in SOFTWARE - APPLICATION

SAP · SAP SE ADR — $189 billion
SNOW · Snowflake Inc. — $93 billion
MSTR · MicroStrategy Incorporated — $33 billion

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