The Filings Report

Shopify

SHOPNasdaqCIK 1594805Technology / Softwarefiscal year ends December11 quarters since 2023

Revenue, Q2 FY2026
$3.6B
+33.7% on Q2 FY2025
Net income
$1.5B
+65.8% on Q2 FY2025
Free cash flow
$654M
+55.0% on Q2 FY2025
Diluted EPS
$1.16
+68.1% on Q2 FY2025
Revenue, TTM
$13.3B
trailing four quarters
Net margin, TTM
14.5%
net income $1.9B
Free cash flow, TTM
$2.4B
$2.4B less $25M capex
Cash and equivalents
$1.7B
long-term debt —, Jun 30, 2026
Shares, 12-month change
—
— shares, Jun 30, 2026
Buybacks, TTM
—
no yield
Dividends, TTM
—
no yield
Market value
—
at the close, buybacks

Latest quarter Q2 FY2026, filed August 5, 2026. Trailing figures sum the latest four quarters. Market values at the latest close, from a market data vendor.

In Q2 FY2026, the quarter ended June 30, 2026, Shopify reported revenue of $3.6B, +33.7% on Q2 FY2025, and net income of $1.5B (+65.8%). Net income this quarter is driven by non-operating items: $1.3B of other income against $488M of operating income, so it reflects gains or losses outside the operations. Operating margin was 13.6%. Free cash flow, operating cash flow less capital expenditures, was $654M ($658M less $4M). Diluted earnings per share were $1.16.

The last 11 quarters

Q4 FY2023 to Q2 FY2026, through the filing of August 5, 2026.

Revenue and net incomeRevenueNet income
−$2B$0$2B$4BQ4'23Q1'24, Revenue: $1.9BQ1'24, Net income: −$273MQ1'24Q2'24, Revenue: $2.0BQ2'24, Net income: $171MQ2'24Q3'24, Revenue: $2.2BQ3'24, Net income: $828MQ3'24Q4'24, Revenue: $2.8BQ4'24, Net income: $1.3BQ4'24Q1'25, Revenue: $2.4BQ1'25, Net income: −$682MQ1'25Q2'25, Revenue: $2.7BQ2'25, Net income: $906MQ2'25Q3'25, Revenue: $2.8BQ3'25, Net income: $264MQ3'25Q4'25, Revenue: $3.7BQ4'25, Net income: $743MQ4'25Q1'26, Revenue: $3.2BQ1'26, Net income: −$581MQ1'26Q2'26, Revenue: $3.6BQ2'26, Net income: $1.5BQ2'26−$2B$0$2B$4BQ4'23Q1'24, Revenue: $1.9BQ1'24, Net income: −$273MQ1'24Q2'24, Revenue: $2.0BQ2'24, Net income: $171MQ2'24Q3'24, Revenue: $2.2BQ3'24, Net income: $828MQ3'24Q4'24, Revenue: $2.8BQ4'24, Net income: $1.3BQ4'24Q1'25, Revenue: $2.4BQ1'25, Net income: −$682MQ1'25Q2'25, Revenue: $2.7BQ2'25, Net income: $906MQ2'25Q3'25, Revenue: $2.8BQ3'25, Net income: $264MQ3'25Q4'25, Revenue: $3.7BQ4'25, Net income: $743MQ4'25Q1'26, Revenue: $3.2BQ1'26, Net income: −$581MQ1'26Q2'26, Revenue: $3.6BQ2'26, Net income: $1.5BQ2'26

Net income losses drawn in red.

Free cash flow
$0$200M$400M$600M$800MQ4'23Q1'24, Free cash flow: $232MQ1'24Q2'24, Free cash flow: $333MQ2'24Q3'24, Free cash flow: $421MQ3'24Q4'24, Free cash flow: $611MQ4'24Q1'25, Free cash flow: $363MQ1'25Q2'25, Free cash flow: $422MQ2'25Q3'25, Free cash flow: $507MQ3'25Q4'25, Free cash flow: $715MQ4'25Q1'26, Free cash flow: $476MQ1'26Q2'26, Free cash flow: $654MQ2'26$0$200M$400M$600M$800MQ4'23Q1'24, Free cash flow: $232MQ1'24Q2'24, Free cash flow: $333MQ2'24Q3'24, Free cash flow: $421MQ3'24Q4'24, Free cash flow: $611MQ4'24Q1'25, Free cash flow: $363MQ1'25Q2'25, Free cash flow: $422MQ2'25Q3'25, Free cash flow: $507MQ3'25Q4'25, Free cash flow: $715MQ4'25Q1'26, Free cash flow: $476MQ1'26Q2'26, Free cash flow: $654MQ2'26

Operating cash flow less capital expenditures; negative quarters in red.

Cash and equivalents against long-term debtCash and equivalentsLong-term debt
$0$1B$2B$3BQ4'23, Cash and equivalents: $1.4BQ4'23Q1'24Q2'24Q3'24Q4'24, Cash and equivalents: $1.5BQ4'24Q1'25, Cash and equivalents: $1.3BQ1'25Q2'25, Cash and equivalents: $1.5BQ2'25Q3'25, Cash and equivalents: $2.4BQ3'25Q4'25, Cash and equivalents: $1.5BQ4'25Q1'26, Cash and equivalents: $1.8BQ1'26Q2'26, Cash and equivalents: $1.7BQ2'26$0$1B$2B$3BQ4'23, Cash and equivalents: $1.4BQ4'23Q1'24Q2'24Q3'24Q4'24, Cash and equivalents: $1.5BQ4'24Q1'25, Cash and equivalents: $1.3BQ1'25Q2'25, Cash and equivalents: $1.5BQ2'25Q3'25, Cash and equivalents: $2.4BQ3'25Q4'25, Cash and equivalents: $1.5BQ4'25Q1'26, Cash and equivalents: $1.8BQ1'26Q2'26, Cash and equivalents: $1.7BQ2'26

Positions at each quarter end, as filed; short-term investments are not included.

Income statement

Last eight quarters, newest first, through Q2 FY2026 filed August 5, 2026.

Shopify income statement, quarterly
Millions of dollarsQ2 FY2026ended Jun 30, 2026filed Aug 5, 2026Q1 FY2026ended Mar 31, 2026filed May 5, 2026Q4 FY2025ended Dec 31, 2025filed Feb 11, 2026Q3 FY2025ended Sep 30, 2025filed Nov 4, 2025Q2 FY2025ended Jun 30, 2025filed Aug 6, 2025Q1 FY2025ended Mar 31, 2025filed May 8, 2025Q4 FY2024ended Dec 31, 2024filed Feb 11, 2025Q3 FY2024ended Sep 30, 2024filed Nov 4, 2025YoYQ2 FY2026vs Q2 FY2025
Revenue3,5833,1703,6722,8442,6802,3602,8122,162+33.7%
Cost of revenue1,8751,6241,9791,4531,3781,1911,4601,044+36.1%
Gross profit1,7081,5461,6931,3911,3021,1691,3521,118+31.2%
Research and development445437390375394377351332+12.9%
Selling, general and administrative136115125115122109112114+11.5%
Operating income488382631343291203465283+67.7%
Other income (expense)1,287(1,016)261(35)788(973)956577+63.3%
Pretax income—————————
Income tax273(53)14944173(88)12832+57.8%
Net income1,502(581)743264906(682)1,293828+65.8%
Diluted EPS ($)1.16(0.45)—0.200.69(0.53)—0.64+68.1%
Diluted shares (millions)1,2981,303—1,3131,3091,295—1,302—

Fourth quarters are the fiscal year less the first nine months when the filer reports no discrete fourth quarter, and are marked. Diluted EPS is never derived, so a derived quarter shows none. Italic figures are derived.

Balance sheet

Last eight quarters, newest first, through Q2 FY2026 filed August 5, 2026.

Shopify balance sheet, quarterly
Millions of dollarsQ2 FY2026ended Jun 30, 2026filed Aug 5, 2026Q1 FY2026ended Mar 31, 2026filed May 5, 2026Q4 FY2025ended Dec 31, 2025filed Feb 11, 2026Q3 FY2025ended Sep 30, 2025filed Nov 4, 2025Q2 FY2025ended Jun 30, 2025filed Aug 6, 2025Q1 FY2025ended Mar 31, 2025filed May 8, 2025Q4 FY2024ended Dec 31, 2024filed Feb 11, 2025Q3 FY2024ended Sep 30, 2024filed Nov 4, 2025YoYQ2 FY2026vs Q2 FY2025
Cash and equivalents1,6561,8481,5452,4141,5421,3091,498—+7.4%
Short-term investments3,2913,8954,2333,9354,2784,2053,981—−23.1%
Total current assets7,8168,4958,2968,7058,0017,4457,254—−2.3%
Total assets14,47014,12115,18915,03914,56113,40013,924—−0.6%
Total current liabilities1,4601,3711,3922,2132,0782,0091,956—−29.7%
Long-term debt—————————
Total liabilities—————————
Stockholders’ equity12,68412,50113,47312,51112,12411,05111,55810,118+4.6%
Shares outstanding (millions)—————————

Positions at each period end. Nothing on this statement is derived. Long-term debt is the filed noncurrent line only; no total-debt composite is constructed across filers. Italic figures are derived.

Cash flow statement

Last eight quarters, newest first, through Q2 FY2026 filed August 5, 2026.

Shopify cash flow statement, quarterly
Millions of dollarsQ2 FY2026ended Jun 30, 2026filed Aug 5, 2026Q1 FY2026ended Mar 31, 2026filed May 5, 2026Q4 FY2025ended Dec 31, 2025filed Feb 11, 2026Q3 FY2025ended Sep 30, 2025filed Nov 4, 2025Q2 FY2025ended Jun 30, 2025filed Aug 6, 2025Q1 FY2025ended Mar 31, 2025filed May 8, 2025Q4 FY2024ended Dec 31, 2024filed Feb 11, 2025Q3 FY2024ended Sep 30, 2024filed Nov 4, 2025YoYQ2 FY2026vs Q2 FY2025
Operating cash flow658481725513428367615423+53.7%
Capital expenditures451066442−33.3%
Free cash flow (CFO − capex)654476715507422363611421+55.0%
Depreciation and amortization77788888−12.5%
Share repurchases1,420491——00———
Dividends paid—————————

10-Qs file cash flows as year-to-date totals, so quarterly figures are differenced from consecutive filings and marked. Free cash flow is operating cash flow less capital expenditures, computed from the two filed lines. Italic figures are derived.

Annual statements

Every fiscal year filed, newest first, through FY2025 filed February 11, 2026.

Income statement

Shopify income statement, annual
Millions of dollarsFY2025ended Dec 31, 2025filed Feb 11, 2026FY2024ended Dec 31, 2024filed Feb 11, 2025FY2023ended Dec 31, 2023filed Feb 11, 2025FY2022ended Dec 31, 2022filed Feb 11, 2025
Revenue11,5568,8807,0605,600
Cost of revenue6,0014,4083,5452,846
Gross profit5,5554,4723,5152,754
Research and development1,5361,3671,7301,503
Selling, general and administrative471410491708
Operating income1,4681,075(1,418)(822)
Other income (expense)411,1531,603(2,801)
Pretax income1,5092,228185—
Income tax27820953(163)
Net income1,2312,019132(3,460)
Diluted EPS ($)0.941.550.10(2.73)
Diluted shares (millions)1,3051,3021,2961,266

Balance sheet

Shopify balance sheet, annual
Millions of dollarsFY2025ended Dec 31, 2025filed Feb 11, 2026FY2024ended Dec 31, 2024filed Feb 11, 2025FY2023ended Dec 31, 2023filed Feb 11, 2025FY2022ended Dec 31, 2022filed Feb 11, 2025
Cash and equivalents1,5451,4981,413—
Short-term investments4,2333,9813,595—
Total current assets8,2967,2546,275—
Total assets15,18913,92411,299—
Total current liabilities1,3921,956898—
Long-term debt————
Total liabilities————
Stockholders’ equity13,47311,5589,0668,239
Shares outstanding (millions)————

Cash flow statement

Shopify cash flow statement, annual
Millions of dollarsFY2025ended Dec 31, 2025filed Feb 11, 2026FY2024ended Dec 31, 2024filed Feb 11, 2025FY2023ended Dec 31, 2023filed Feb 11, 2025FY2022ended Dec 31, 2022filed Feb 11, 2025
Operating cash flow2,0331,616944(136)
Capital expenditures26193950
Free cash flow (CFO − capex)2,0071,597905(186)
Depreciation and amortization31367093
Share repurchases————
Dividends paid————

Insider activity

Form 4 filings by officers, directors and 10% owners, November 1, 2024 to November 1, 2026. Only open-market purchases and sales count as buys and sells; awards, exercises, tax withholding and gifts are listed in grey and never counted.

Bought, three months
$0
0 purchases by 0 insiders; officers and directors $0
Sold, three months
$0
0 sales by 0 insiders; officers and directors $0
Bought, twelve months
$0
0 purchases by 0 insiders; officers and directors $0
Sold, twelve months
$0
0 sales by 0 insiders; officers and directors $0

No Form 4 transactions filed in the period.

Full insider history for Shopify, or insider activity across all companies. A record of filings, not a recommendation.

Tracked funds holding it

1 of the tracked managers held SHOP in their latest 13F filing, through August 14, 2026. Weight is the share of the fund’s reported portfolio. How the funds have traded SHOP by quarter.

FundManagerQuarterValueSharesWeightMove
Baron Capital GroupRon BaronQ2 2026$1.3B11M1.91%added +136.4%

Sources

Fiscal year ends in month 12; periods are labeled with the issuer's own fiscal calendar. Values are as most recently filed (restatements apply; per-share values are on current split basis per the connector's split table, flagged in adjusted). Flow items flagged in `derived` were computed (Q4 = FY − nine months; quarterly cash flow differenced from year-to-date filings) rather than read from a filing. `reconciliation.repaired` lists periods where a full-year figure was filed in a quarter slot: that row was dropped and the quarter rebuilt from the annual figure. `reconciliation.quarantined` lists periods where four filed quarters do not sum to the filed year — those quarterly values are withheld, so a blank there is a withholding rather than an absence of reporting.

Filer
Shopify Inc., CIK 1594805 on EDGAR
Extract generated
August 28, 2026
Withheld
none
Repaired
none
XBRL concepts behind each line

Income statement

Revenue: Revenues
Cost of revenue: CostOfGoodsAndServicesSold
Gross profit: GrossProfit
Research and development: ResearchAndDevelopmentExpense
Selling, general and administrative: GeneralAndAdministrativeExpense
Operating income: OperatingIncomeLoss
Other income (expense): NonoperatingIncomeExpense
Pretax income: IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
Income tax: IncomeTaxExpenseBenefit
Net income: NetIncomeLoss
Diluted EPS ($): EarningsPerShareDiluted
Diluted shares (millions): WeightedAverageNumberOfDilutedSharesOutstanding

Balance sheet

Cash and equivalents: CashAndCashEquivalentsAtCarryingValue
Short-term investments: MarketableSecuritiesCurrent
Total current assets: AssetsCurrent
Total assets: Assets
Total current liabilities: LiabilitiesCurrent
Long-term debt: not filed
Total liabilities: not filed
Stockholders’ equity: StockholdersEquity
Shares outstanding (millions): not filed

Cash flow statement

Operating cash flow: NetCashProvidedByUsedInOperatingActivities
Capital expenditures: PaymentsToAcquirePropertyPlantAndEquipment
Free cash flow (CFO − capex): not filed
Depreciation and amortization: DepreciationDepletionAndAmortization
Share repurchases: PaymentsForRepurchaseOfCommonStock
Dividends paid: not filed

The data

The statements on this page as files, generated August 28, 2026.

JSON file
/data/financials/SHOP.json