SHOPIFY INC.SHOPEarnings & Financial Report
Shopify Inc., stylized as shopify, is a Canadian multinational e-commerce company headquartered in Ottawa, Ontario that operates a platform for retail point-of-sale systems. The company has over 5 million customers and processed US$292.3 billion in transactions in 2024, of which 57% was in the United States. Major customers include Tesla, LVMH, Nestlé, PepsiCo, AB InBev, Kraft Heinz, Lindt, Whole Foods Market, Red Bull, and Hyatt.
SHOP Q4 2025 Key Financial Metrics
营收
$3.7B
毛利润
$1.7B
营业利润
$631.0M
净利润
$743.0M
毛利率
46.1%
营业利润率
17.2%
净利率
20.2%
同比增长
30.6%
EPS
$0.58
资金流向
SHOPIFY INC. Q4 2025 Financial Summary
SHOPIFY INC. reported revenue of $3.7B (up 30.6% YoY) for Q4 2025, with a net profit of $743.0M (down 42.5% YoY) (20.2% margin). Cost of goods sold was $2.0B, operating expenses totaled $1.1B.
Key Financial Metrics
| Total Revenue | $3.7B |
|---|---|
| Net Profit | $743.0M |
| Gross Margin | 46.1% |
| Operating Margin | 17.2% |
| Report Period | Q4 2025 |
Revenue Breakdown
SHOPIFY INC. Q4 2025 revenue of $3.7B breaks down across 2 segments, led by Services at $2.9B (78.8% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Services | $2.9B | 78.8% |
| Subscription And Circulation | $777.0M | 21.2% |
SHOPIFY INC. Revenue by Segment — Quarterly Trend
SHOPIFY INC. revenue by segment across the last 4 reported quarters, showing how each business line (such as Services and Subscription And Circulation) has evolved quarter over quarter.
| Segment | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 |
|---|---|---|---|---|
| Services | $2.9B | $2.1B | $2.0B | $1.7B |
| Subscription And Circulation | $777.0M | $699.0M | $656.0M | $620.0M |
SHOPIFY INC. Annual Revenue by Year
SHOPIFY INC. annual revenue history includes year-by-year totals (for example, 2025 revenue was $11.6B). Click any linked year to see what changed vs the prior 10-K.
SHOPIFY INC. Quarterly Revenue & Net Profit History
SHOPIFY INC. quarterly results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q4 2025 | $3.7B | +30.6% | $743.0M | 20.2% |
| Q3 2025 | $2.8B | +31.5% | $264.0M | 9.3% |
| Q2 2025 | $2.7B | +31.1% | $906.0M | 33.8% |
| Q1 2025 | $2.4B | +26.8% | $-682.0M | -28.9% |
| Q4 2024 | $2.8B | — | $1.3B | 46.0% |
| Q3 2024 | $2.2B | — | $828.0M | 38.3% |
| Q2 2024 | $2.0B | — | $171.0M | 8.4% |
| Q1 2024 | $1.9B | — | $-273.0M | -14.7% |
利润表
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| 营收 | $1.86B | $2.04B | $2.16B | $2.81B | $2.36B | $2.68B | $2.84B | $3.67B |
| 同比增长 | N/A | N/A | N/A | N/A | 26.8% | 31.1% | 31.5% | 30.6% |
资产负债表
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| 总资产 | N/A | N/A | N/A | $13.92B | $13.40B | $14.56B | $15.04B | $15.19B |
| 总负债 | N/A | N/A | N/A | $2.37B | $2.35B | $2.44B | $2.53B | $1.72B |
| 股东权益 | $8.89B | $9.17B | $10.12B | $11.56B | $11.05B | $12.12B | $12.51B | $13.47B |
现金流量表
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| 经营性现金流 | $238.0M | $340.0M | $423.0M | $615.0M | $367.0M | $428.0M | $513.0M | $725.0M |