Shopify
$151.39Change from previous close: +1.54%Absolute change: +$2.30
At a glance
- Revenue growth
- +30.14%
- 2025 vs 2024
- Net income growth
- −39.03%
- 2025 vs 2024
- Net margin
- 10.7%
- 2024: 22.7%
Financial data
Amounts in millions of USD; per-share values in USD; shares in millions.
| Item | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Total revenue | 11,556 | 8,880 | 7,060 | 5,600 | 4,612 | 2,929 | 1,578 | 1,073 | 673 | 389 |
| Cost of revenue | 6,001 | 4,408 | 3,545 | 2,846 | 2,131 | 1,388 | 713 | 477 | 293 | 180 |
| Gross profit | 5,555 | 4,472 | 3,515 | 2,754 | 2,481 | 1,542 | 866 | 596 | 380 | 209 |
| Selling, general and administrative | 2,107 | 1,851 | 1,622 | 1,731 | 1,217 | 804 | 627 | 454 | 291 | 172 |
| Research and development | 1,515 | 1,351 | 1,612 | 1,485 | 819 | 518 | 355 | 226 | 133 | 73.3 |
| Operating income | 1,898 | 1,247 | 260 | -476 | 381 | 174 | -116 | -91.9 | -49.2 | -37.2 |
| EBIT | 1,898 | 1,247 | 260 | -476 | 381 | 174 | -116 | -91.9 | -49.2 | -37.2 |
| EBITDA | 1,929 | 1,283 | 330 | -383 | 447 | 235 | -87.8 | -68.7 | -28.6 | -24.6 |
| Interest expense | — | — | — | 1.2 | 3.5 | 9.1 | — | — | — | — |
| Pre-tax income | 1,509 | 2,228 | 185 | -3,623 | 3,141 | 240 | -95.8 | -64.6 | -40.0 | -35.4 |
| Income tax | 278 | 209 | 53.0 | -163 | 226 | -79.1 | 29.0 | — | — | — |
| Net income | 1,231 | 2,019 | 132 | -3,460 | 2,915 | 320 | -125 | -64.6 | -40.0 | -35.4 |
| Net income to common shareholders | 1,231 | 2,019 | 132 | -3,460 | 2,915 | 320 | -125 | -64.6 | -40.0 | -35.4 |
| Basic EPS | 0.95 | 1.57 | 0.10 | -2.73 | 2.34 | 0.27 | -0.11 | -0.06 | -0.04 | -0.04 |
| Diluted EPS | 0.94 | 1.55 | 0.10 | -2.73 | 2.29 | 0.26 | -0.11 | -0.06 | -0.04 | -0.04 |
| Average shares (basic) | 1,299 | 1,290 | 1,282 | 1,266 | 1,247 | 1,196 | 1,130 | 1,057 | 958 | 840 |
| Average shares (diluted) | 1,305 | 1,302 | 1,296 | 1,266 | 1,274 | 1,235 | 1,130 | 1,057 | 958 | 840 |