| Income Statement | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 |
|---|---|---|---|---|
| Revenues | 3,170 | 3,672 | 2,844 | 2,680 |
| Subscription And Circulation | 148 | 148 | 128 | 121 |
| Service | 1,476 | 1,831 | 1,325 | 1,257 |
| Cost of revenues | 1,624 | 1,979 | 1,453 | 1,378 |
| Gross profit | 1,546 | 1,693 | 1,391 | 1,302 |
| Sales and marketing | 496 | 433 | 410 | 415 |
| Research and development | 437 | 390 | 375 | 394 |
| General and administrative | 115 | 125 | 115 | 122 |
| Transaction and loan losses | 116 | 114 | 148 | 80 |
| Impairment on sales of shopify's logistics businesses | NaN | 0 | NaN | NaN |
| Total operating expenses | 1,164 | 1,062 | 1,048 | 1,011 |
| Income from operations | 382 | 631 | 343 | 291 |
| Interest income | 75 | 79 | 81 | 106 |
| Net realized gain on equity and other investments | 3 | 32* | 0 | 1 |
| Net unrealized gain on equity and other investments | -1,064 | 216 | -62 | 681 |
| Net gain on equity method investment | -21 | 28 | -21 | -24 |
| Realized loss on embedded derivative | NaN | 94* | 29 | NaN |
| Foreign exchange (loss) gain | -9 | 0 | -4 | 24 |
| Total other expense, net | -1,016 | 261 | -35 | 788 |
| Income before income taxes | NaN | 892 | NaN | NaN |
| Expected income tax expense at canadian federal statutory income tax rate of 15.0 | NaN | 136* | NaN | NaN |
| Provincial tax / u.s. state tax-CA | NaN | 12* | NaN | NaN |
| Foreign tax rate differential-US | NaN | -1* | NaN | NaN |
| Provincial tax / u.s. state tax-US | NaN | 5* | NaN | NaN |
| Change in valuation allowance-US | NaN | 3* | NaN | NaN |
| Income not subject to tax in u.s-US | NaN | 9* | NaN | NaN |
| Unrealized investment (loss) gain not subject to tax-US | NaN | -1* | NaN | NaN |
| Stock-based compensation-US | NaN | -7* | NaN | NaN |
| Sales of businesses-US | NaN | 0* | NaN | NaN |
| Effect in changes in tax rates on unrealized investment gain-US | NaN | 0* | NaN | NaN |
| Other-US | NaN | 4* | NaN | NaN |
| Foreign tax rate differential-SG | NaN | 1* | NaN | NaN |
| Singapore benefit of tax holiday-SG | NaN | 5* | NaN | NaN |
| Pillar two tax-SG | NaN | 3* | NaN | NaN |
| Other-SG | NaN | 1* | NaN | NaN |
| Foreign tax rate differential-IE | NaN | -3* | NaN | NaN |
| Unrealized investment (loss) gain not subject to tax-IE | NaN | -11* | NaN | NaN |
| Pillar two tax-IE | NaN | 4* | NaN | NaN |
| Other-IE | NaN | 3* | NaN | NaN |
| Foreign tax rate differential-Foreign Tax Jurisdiction Other | NaN | -0* | NaN | NaN |
| Domestic taxes on foreign earnings | NaN | 17* | NaN | NaN |
| Domestic taxes on unrealized investment gains | NaN | -11* | NaN | NaN |
| Other | NaN | 0* | NaN | NaN |
| Tax credits | NaN | 8* | NaN | NaN |
| Change in valuation allowance-CA | NaN | 0* | NaN | NaN |
| Net unrealized (loss) gain on equity and other investments | NaN | -8* | NaN | NaN |
| Sales of businesses-CA | NaN | 0* | NaN | NaN |
| Stock-based compensation-CA | NaN | -3* | NaN | NaN |
| Non-deductible loss on embedded derivative | NaN | 5* | NaN | NaN |
| Other permanent differences | NaN | -0* | NaN | NaN |
| Other-CA | NaN | 0* | NaN | NaN |
| Loss before income taxes | -634 | NaN | 308 | 1,079 |
| Recovery of income taxes | -53 | 149 | 44 | 173 |
| Net loss | -581 | 743 | 264 | 906 |
| Unrealized gain (loss) on cash flow hedges | -7 | 3 | -9 | 16 |
| Tax effect on unrealized gain (loss) on cash flow hedges | -2 | 1 | -3 | 5 |
| Total other comprehensive (loss) income | -5 | 2 | -6 | 11 |
| Comprehensive loss | -586 | 745 | 258 | 917 |
| Basic EPS | -0.45 | 0.572 | 0.2 | 0.7 |
| Diluted EPS | -0.45 | 0.572 | 0.2 | 0.69 |
| Basic Average Shares | 1,303,357,874 | 1,302,630,329 | 1,300,069,685 | 1,297,746,050 |
| Diluted Average Shares | 1,303,357,874 | 1,302,569,097 | 1,312,872,709 | 1,308,993,838 |
SHOPIFY INC. (SHOP)
SHOPIFY INC. (SHOP)