SHOP
Shopify Inc
NASDAQ: SHOP · TECHNOLOGY · SOFTWARE - APPLICATION
$121.13
-0.11% today
Updated 2026-04-30
Market cap
$163.70B
P/E ratio
133.86
P/S ratio
14.17x
EPS (TTM)
$0.94
Dividend yield
—
52W range
$88 – $182
Volume
8.6M
Shopify Inc (SHOP) Financial statements
SEC filings — annual and quarterly data.
Income statement — annual
| Item | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $23.71M | $50.25M | $105.02M | $205.23M | $389.33M | $673.30M | $1.07B | $1.58B | $2.93B | $4.61B | $5.60B | $7.06B | $8.88B | $11.56B |
| Revenue growth (YoY) | — | +111.9% | +109.0% | +95.4% | +89.7% | +72.9% | +59.4% | +47.0% | +85.6% | +57.4% | +21.4% | +26.1% | +25.8% | +30.1% |
| Cost of revenue | $4.78M | $13.51M | $43.22M | $94.16M | $179.84M | $293.05M | $476.96M | $712.53M | $1.39B | $2.13B | $2.85B | $3.54B | $4.41B | $6.00B |
| Gross profit | $18.94M | $36.74M | $61.80M | $111.07M | $209.50M | $380.25M | $596.27M | $865.64M | $1.54B | $2.48B | $2.75B | $3.52B | $4.47B | $5.55B |
| Gross margin | 79.9% | 73.1% | 58.8% | 54.1% | 53.8% | 56.5% | 55.6% | 54.9% | 52.6% | 53.8% | 49.2% | 49.8% | 50.4% | 48.1% |
| R&D | $6.45M | $13.68M | $25.91M | $39.72M | $74.34M | $136.00M | $230.67M | $355.01M | $552.13M | $854.38M | $1.50B | $1.73B | $1.37B | $1.54B |
| SG&A | $1.74M | $3.98M | $11.57M | $18.73M | $43.11M | $67.72M | $107.44M | $153.76M | $245.34M | $374.84M | $708.00M | $491.00M | $410.00M | $471.00M |
| Operating income | $-1.51M | $-4.27M | $-21.61M | $-17.76M | $-37.16M | $-49.16M | $-91.92M | $-141.15M | $90.15M | $268.64M | $-822.00M | $-1.42B | $1.07B | $1.47B |
| Operating margin | -6.4% | -8.5% | -20.6% | -8.7% | -9.5% | -7.3% | -8.6% | -8.9% | 3.1% | 5.8% | -14.7% | -20.1% | 12.1% | 12.7% |
| EBITDA | $-747000.00 | $-2.51M | $-16.94M | $-10.52M | $-23.20M | $-25.77M | $-64.87M | $-60.16M | $319.00M | $3.21B | $-594.00M | $144.00M | $1.34B | $1.50B |
| EBITDA margin | -3.2% | -5.0% | -16.1% | -5.1% | -6.0% | -3.8% | -6.0% | -3.8% | 10.9% | 69.6% | -10.6% | 2.0% | 15.1% | 13.0% |
| EBIT | $-1.51M | $-4.27M | $-21.61M | $-17.76M | $-37.16M | $-49.16M | $-91.92M | $-95.81M | $248.94M | $3.14B | $-687.00M | $74.00M | $1.30B | $1.47B |
| Interest expense | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $45.33M | $9.56M | $3.46M | $1.15M | — | — | — |
| Income tax | $-282000.00 | $568000.00 | $696000.00 | $-974429.00 | $167974.00 | $-841000.00 | $27.37M | $29.03M | $-79.14M | $225.93M | $-163.00M | $53.00M | $209.00M | — |
| Effective tax rate | 18.6% | -13.3% | -3.2% | 4.9% | -0.5% | 2.1% | -73.6% | -30.3% | -32.9% | 7.2% | 4.5% | 28.6% | 9.4% | 0.0% |
| Net income | $-1.23M | $-4.84M | $-22.31M | $-18.79M | $-35.35M | $-39.99M | $-64.55M | $-124.84M | $319.51M | $2.91B | $-3.46B | $132.00M | $2.02B | $1.23B |
| Net income growth (YoY) | — | -292.6% | -361.3% | +15.8% | -88.2% | -13.1% | -61.4% | -93.4% | +355.9% | +812.2% | -218.7% | +103.8% | +1429.5% | -39.0% |
| Profit margin | -5.2% | -9.6% | -21.2% | -9.2% | -9.1% | -5.9% | -6.0% | -7.9% | 10.9% | 63.2% | -61.8% | 1.9% | 22.7% | 10.7% |