Shopify Inc. (SHOP) Financial Statements

Income statement

Metric	TTM	2025	2024	2023	2022
Revenue
Total Revenue	13.3B	11.6B	8.9B	7.1B	5.6B
Cost of Revenue	6.9B	6.0B	4.4B	3.5B	2.8B
Gross Profit	6.3B	5.6B	4.5B	3.5B	2.8B
Operating Expenses
R&D Expense	1.6B	1.5B	1.4B	1.7B	1.5B
SG&A Expense	2.3B	2.1B	1.8B	1.7B	1.9B
General & Admin Expense	491.0M	471.0M	410.0M	491.0M	708.0M
Selling & Marketing Expense	1.8B	1.7B	1.4B	1.2B	1.2B
Other Expenses	519.0M	417.0M	227.0M	1.5B	135.0M
Total Operating Expenses	4.5B	4.1B	3.4B	4.9B	3.6B
Cost and Expenses	11.4B	10.1B	7.8B	8.5B	6.4B
Operating Income (EBIT)	1.8B	1.5B	1.1B	(1.4B)	(822.0M)
Non-Operating
Interest Income	301.0M	331.0M	308.0M	241.0M	76.0M
Interest Expense	—	—	—	—	1.1M
Net Interest Income	301.0M	331.0M	308.0M	241.0M	75.0M
Other Non-Op Income/Expense	497.0M	41.0M	1.2B	1.6B	(2.8B)
Non-Operating Income (excl Interest)	2.4B	(41.0M)	(227.0M)	(1.5B)	(135.0M)
EBT (Pre-Tax Income)	2.3B	1.5B	2.2B	185.0M	(3.6B)
Income Tax Expense	413.0M	278.0M	209.0M	53.0M	(163.0M)
Bottom Line
Net Income	1.9B	1.2B	2.0B	132.0M	(3.5B)
Earnings from Cont. Ops	1.9B	1.2B	2.0B	132.0M	(3.5B)
Earnings from Discont. Ops	—	—	—	—	—
Bottom Line Net Income	1.9B	1.2B	2.0B	132.0M	(3.5B)
Per Share
Basic EPS	$1.49	$0.95	$1.56	$0.10	($2.73)
Diluted EPS	$1.49	$0.94	$1.55	$0.10	($2.73)
Revenue Per Share	$10.24	$8.90	$6.86	$5.51	$4.42
Shares
Basic Shares Outstanding	1.3B	1.3B	1.3B	1.3B	1.3B
Diluted Shares Outstanding	1.3B	1.3B	1.3B	1.3B	1.3B
Profitability Metrics
EBITDA	(519.0M)	1.5B	1.3B	144.0M	(594.0M)
D&A	29.0M	31.0M	36.0M	70.0M	93.0M
EBIT	(548.0M)	1.5B	1.3B	74.0M	(687.0M)

As reported, in the filing currency · TTM sums the four latest quarters; MRQ is the latest quarter · Negatives in parentheses; a dash is a line the filing does not carry · Data as of Jun 1, 2026