Shopify Inc.
Profit after direct costs
Core business profitability
Bottom line profitability
Top line growth rate
Flow of revenue through cost categories to net income
| Item | Trend | 2021 | 2022 | 2023 | 2024 | 2025 | YoY Change |
|---|---|---|---|---|---|---|---|
Total Revenue | 4.61B | 5.60B | 7.06B | 8.88B | 11.56B | 30.1% | |
| Cost of Revenue | (2.13B) | (2.85B) | (3.54B) | (4.41B) | (6.00B) | 36.1% | |
Gross Profit | 2.48B | 2.75B | 3.52B | 4.47B | 5.55B | 24.2% | |
| Operating Expenses | |||||||
| Research & Development | (854.38M) | (1.50B) | (1.73B) | (1.37B) | (1.54B) | 12.4% | |
| Selling, General & Administrative | (1.28B) | (1.94B) | (1.71B) | (1.80B) | (2.13B) | 18.4% | |
| General & Administrative | (374.84M) | (708.00M) | (491.00M) | (410.00M) | (471.00M) | 14.9% | |
| Selling & Marketing | (901.56M) | (1.23B) | (1.22B) | (1.39B) | (1.66B) | 19.4% | |
| Depreciation & Amortization | (66.31M) | (93.00M) | (70.00M) | (36.00M) | (31.00M) | -13.9% | |
Operating Income (EBIT) | 268.64M | -822.00M | -1.42B | 1.07B | 1.47B | 36.6% | |
| Non-Operating Items | |||||||
| Interest Income | 15.36M | 76.00M | 241.00M | 308.00M | 331.00M | 7.5% | |
| Interest Expense | (3.46M) | (1.15M) | — | — | — | — | |
| Other Income/Expenses (Net) | 2.87B | -2.80B | 1.60B | 1.15B | 41.00M | -96.4% | |
Income Before Tax | 3.14B | -3.62B | 185.00M | 2.23B | 1.51B | -32.3% | |
| Income Tax Expense | (225.93M) | (163.00M) | (53.00M) | (209.00M) | (278.00M) | 33.0% | |
Net Income | 2.91B | -3.46B | 132.00M | 2.02B | 1.23B | -39.0% | |
| Per Share Metrics | |||||||
| Earnings Per Share (Basic) | $2 | $-3 | $0 | $2 | $1 | -39.1% | |
| Weighted Avg Shares Outstanding | 1.25B | 1.27B | 1.28B | 1.29B | 1.30B | 0.3% | |
| Weighted Avg Shares Outstanding (Diluted) | 1.27B | 1.27B | 1.30B | 1.30B | 1.30B | 0.3% | |
EBITDA | 3.21B | -594.00M | 144.00M | 1.34B | 1.54B | 15.1% |
Explore SHOP
SHOP in the Technology
Large Cap