Shopify

SHOP · NASDAQ · USD

$151.39+1.54%+$2.30

Close · October 2, 2026

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.

ItemQ2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023Q3 2023
Total revenue3,5833,1703,6722,8442,6802,3602,8122,1622,0451,8612,1441,714
Cost of revenue1,8751,6241,9791,4531,3781,1911,4601,0441,0009041,082813
Gross profit1,7081,5461,6931,3911,3021,1691,3521,1181,0459571,062901
Selling, general and administrative633609554518525510457443468483484392
Research and development441433384370389372345329346331417310
Operating income629498745494381278541341228137156194
EBIT629498745494381278541341228137156194
EBITDA636505752502389286549349238147166207
Pre-tax income1,775-6348923081,079-7701,421860203-256682728
Income tax273-53.014944.0173-88.012832.032.017.025.010.0
Net income1,502-581743264906-6821,293828171-273657718
Net income to common shareholders1,502-581743264906-6821,293828171-273657718
Basic EPS1.16-0.450.570.200.70-0.531.000.640.13-0.210.510.56
Diluted EPS1.16-0.450.570.200.69-0.530.990.640.13-0.210.510.55
Average shares (basic)1,2951,3031,3031,3001,2981,2951,2921,2911,2891,2871,2851,283
Average shares (diluted)1,2981,3031,3031,3131,3091,2951,3051,3021,3001,2871,2971,296