Shopify Inc. (SHOP)

Nasdaq: SHOP · Services-Prepackaged Software · Ottawa, ON · filing with the SEC since 2014

Grade6.1

◀ Past 5.1● Present 7.0▶ Future 5.9

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Income statement, as filed

In thousands of US dollars (USD), as filed; per-share figures in US dollars; share counts. The fiscal year ends in December.

Income statement, by fiscal year, newest first
Fiscal year	FY 2025	FY 2024	FY 2022	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017	FY 2016
Period ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017	Dec 31, 2016
Report filed	Feb 11, 2026	Feb 11, 2025	Feb 13, 2024	Feb 16, 2023	Feb 16, 2022	Feb 17, 2021	Feb 12, 2020	Feb 12, 2019	Feb 15, 2018	Feb 15, 2017
Revenue	11,556,000	8,880,000	7,060,000	5,600,000	4,611,856	2,929,491	1,578,173	1,073,229	673,304	389,330
Cost of revenue	6,001,000	4,408,000	3,545,000	2,846,000^r	2,130,712	1,387,971	712,530	476,962	293,051	179,835
Gross profit	5,555,000	4,472,000	3,515,000	2,754,000^r	2,481,144	1,541,520	865,643	596,267	380,253	209,495
Research and development	1,536,000	1,367,000	1,730,000	1,503,000^r	854,383	552,127	355,015	230,674	135,997	74,336
Sales and marketing	1,663,000	1,393,000	1,220,000	1,230,000^r	901,557	602,048	472,841	350,069	225,694	129,214
General and administrative	471,000	410,000	491,000	708,000^r	374,844	245,343	153,765^r	107,444	67,719	43,110
Total operating expenses	4,087,000	3,397,000	4,933,000	3,576,000^r	2,212,501	1,451,367	1,006,790	688,187	429,410	246,660
Operating income	1,468,000	1,075,000	-1,418,000	-822,000^r	268,643	90,153	-141,147	-91,920	-49,157	-37,165
Interest expense	·	·	·	3,499	3,493	9,085	0	·	·	·
Interest income (expense), net	331,000	308,000	241,000	75,000^r	15,356	23,434	48,182	29,436	7,850	1,536
Share of profit of equity-method investments	-40,000	-138,000	-58,000	0	·	·	·	·	·	·
Total non-operating income (expense)	41,000	1,153,000	1,603,000	-2,801,000^r	2,871,949	150,211	45,332	27,367	9,162	1,810
Income before income taxes	1,509,000	2,228,000	185,000	·	·	·	·	·	·	·
Income tax expense	278,000	209,000	53,000	-163,000^r	225,933	-79,145	29,027	0	0	0
Net income	1,231,000	2,019,000	132,000	-3,460,000^r	2,914,659	319,509	-124,842	-64,553	-39,995	-35,355
Earnings per share, basic	0.95	1.57	0.10	-2.73	2.34^r	0.267^b	-0.11^b	·	·	·
Earnings per share, diluted	0.94	1.55	0.10	-2.73	2.29^r	0.259^b	-0.11^b	·	·	·
Earnings per share, basic and diluted	·	·	·	·	·	·	-0.11^b	-0.061^b	-0.042^b	-0.042^b
Weighted average shares, basic	1,298,955,860	1,289,812,124	1,281,554,559	1,266,268,155	1,246,588,910^r	1,195,697,050^b	1,130,264,240^b	·	·	·
Weighted average shares, diluted	1,304,953,255	1,301,509,980	1,295,511,385	1,266,268,155	1,273,647,350^r	1,234,632,740^b	1,130,264,240^b	·	·	·
Weighted average shares, basic and diluted	·	·	·	·	·	·	1,130,264,240^b	1,056,718,390^b	957,748,970^b	839,885,970^b

As filed with the SEC, each figure from the newest report that carries it, and linked to it. Nothing here is computed.Share counts and per-share figures are on the newest report's basis, after the 10-for-1 split.A dot is a line not tagged for that period. ^r restated by the company in a later report; ^b a share figure put on the newest basis or filed in the wrong unit. Hover a figure for its filing and note.

What each line is, and the XBRL concept behind it

Revenue what customers paid for what it sold

us-gaap:Revenues
us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax
us-gaap:SalesRevenueServicesNet

Cost of revenue what it cost to make or buy what it sold

us-gaap:CostOfGoodsAndServicesSold
us-gaap:CostOfServices

Gross profit revenue less the cost of what it soldus-gaap:GrossProfit

Research and development spent on inventing what it sells nextus-gaap:ResearchAndDevelopmentExpense

Sales and marketing the cost of finding and serving customersus-gaap:SellingAndMarketingExpense

General and administrative the cost of running the company itselfus-gaap:GeneralAndAdministrativeExpense

Total operating expenses the running costs togetherus-gaap:OperatingExpenses

Operating income profit from running the business, before interest and taxus-gaap:OperatingIncomeLoss

Interest expense what its borrowing costus-gaap:InterestExpense

Interest income (expense), net interest earned less interest paid, outside the businessus-gaap:InterestIncomeExpenseNonoperatingNet

Share of profit of equity-method investments its share of companies it partly ownsus-gaap:IncomeLossFromEquityMethodInvestments

Total non-operating income (expense) everything outside the business, togetherus-gaap:NonoperatingIncomeExpense

Income before income taxes profit before taxus-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest

Income tax expense tax charged on the period's profitus-gaap:IncomeTaxExpenseBenefit

Net income the profit or loss that belongs to the company's shareholdersus-gaap:NetIncomeLoss

Earnings per share, basic net income per share outstandingus-gaap:EarningsPerShareBasic

Earnings per share, diluted net income per share, counting every share that could be issuedus-gaap:EarningsPerShareDiluted

Earnings per share, basic and diluted net income per share, where both counts are the sameus-gaap:EarningsPerShareBasicAndDiluted

Weighted average shares, basic the average count of shares outstandingus-gaap:WeightedAverageNumberOfSharesOutstandingBasic

Weighted average shares, diluted the average count with every share that could be issuedus-gaap:WeightedAverageNumberOfDilutedSharesOutstanding

Weighted average shares, basic and diluted the average count, where both counts are the sameus-gaap:WeightedAverageNumberOfShareOutstandingBasicAndDiluted

SI Assistanton SHOP · research, not advice