# Shopify Inc.: overview

SHOP · Nasdaq · CIK 1594805 · [Technology](/sectors/technology.md) · fiscal year ends Dec 31

Pages: [Overview](/companies/shop.md) · [Financials](/companies/shop/financials.md) · [Filings](/companies/shop/filings.md) · [Insiders](/companies/shop/insiders.md)

Latest reported revenue: [$3.58bn](/filings/0001594805-26-000047.md) for Q2 FY2026, three months to 2026-06-30, from the 10-Q filed Aug 5, 2026 (XBRL us-gaap:Revenues, accession 0001594805-26-000047).

## Last eight quarters

| Line item | Unit | period not labelled (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [2,162](/filings/0001594805-25-000089.md) | [2,812 d](/filings/0001594805-26-000007.md) | [2,360](/filings/0001594805-26-000019.md) | [2,680](/filings/0001594805-26-000047.md) | [2,844](/filings/0001594805-25-000089.md) | [3,672 d](/filings/0001594805-26-000007.md) | [3,170](/filings/0001594805-26-000019.md) | [3,583](/filings/0001594805-26-000047.md) |
| Gross margin | % | [51.7%](/filings/0001594805-25-000089.md) | [48.1% d](/filings/0001594805-26-000007.md) | [49.5%](/filings/0001594805-26-000019.md) | [48.6%](/filings/0001594805-26-000047.md) | [48.9%](/filings/0001594805-25-000089.md) | [46.1% d](/filings/0001594805-26-000007.md) | [48.8%](/filings/0001594805-26-000019.md) | [47.7%](/filings/0001594805-26-000047.md) |
| Operating margin | % | [13.1%](/filings/0001594805-25-000089.md) | [16.5% d](/filings/0001594805-26-000007.md) | [8.6%](/filings/0001594805-26-000019.md) | [10.9%](/filings/0001594805-26-000047.md) | [12.1%](/filings/0001594805-25-000089.md) | [17.2% d](/filings/0001594805-26-000007.md) | [12.1%](/filings/0001594805-26-000019.md) | [13.6%](/filings/0001594805-26-000047.md) |
| Net margin | % | [38.3%](/filings/0001594805-25-000089.md) | [46.0% d](/filings/0001594805-26-000007.md) | [(28.9%)](/filings/0001594805-26-000019.md) | [33.8%](/filings/0001594805-26-000047.md) | [9.3%](/filings/0001594805-25-000089.md) | [20.2% d](/filings/0001594805-26-000007.md) | [(18.3%)](/filings/0001594805-26-000019.md) | [41.9%](/filings/0001594805-26-000047.md) |
| Diluted EPS | $ per share | [0.64](/filings/0001594805-25-000089.md) | not reported | [(0.53)](/filings/0001594805-26-000019.md) | [0.69](/filings/0001594805-26-000047.md) | [0.20](/filings/0001594805-25-000089.md) | not reported | [(0.45)](/filings/0001594805-26-000019.md) | [1.16](/filings/0001594805-26-000047.md) |
| Free cash flow | $m | [421](/filings/0001594805-25-000089.md) | [611 d](/filings/0001594805-26-000007.md) | [363](/filings/0001594805-26-000019.md) | [422](/filings/0001594805-26-000047.md) | [507](/filings/0001594805-25-000089.md) | [715 d](/filings/0001594805-26-000007.md) | [476](/filings/0001594805-26-000019.md) | [654](/filings/0001594805-26-000047.md) |

- Revenue. XBRL Revenue: us-gaap:Revenues. Derived values: 12-month figure less the 9-month figure.
- Gross margin (gross profit / revenue). XBRL Gross profit: us-gaap:GrossProfit; Revenue: us-gaap:Revenues. Derived values: 12-month figure less the 9-month figure.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:Revenues. Derived values: 12-month figure less the 9-month figure.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:Revenues. Derived values: 12-month figure less the 9-month figure.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment. Derived values: 12-month figure less the 9-month figure.

## Last five fiscal years

| Line item | Unit | FY2021 (2021-12-31) | FY2022 (2022-12-31) | FY2023 (2023-12-31) | FY2024 (2024-12-31) | FY2025 (2025-12-31) |
| --- | --- | ---: | ---: | ---: | ---: | ---: |
| Revenue | $bn | [4.6](/filings/0001594805-23-000011.md) | [5.6](/filings/0001594805-24-000007.md) | [7.1](/filings/0001594805-24-000007.md) | [8.9](/filings/0001594805-26-000007.md) | [11.6](/filings/0001594805-26-000007.md) |
| Gross margin | % | [53.8%](/filings/0001594805-23-000011.md) | [49.2%](/filings/0001594805-25-000012.md) | [49.8%](/filings/0001594805-26-000007.md) | [50.4%](/filings/0001594805-26-000007.md) | [48.1%](/filings/0001594805-26-000007.md) |
| Operating margin | % | [5.8%](/filings/0001594805-23-000011.md) | [(14.7%)](/filings/0001594805-25-000012.md) | [(20.1%)](/filings/0001594805-26-000007.md) | [12.1%](/filings/0001594805-26-000007.md) | [12.7%](/filings/0001594805-26-000007.md) |
| Net margin | % | [63.2%](/filings/0001594805-23-000011.md) | [(61.8%)](/filings/0001594805-25-000012.md) | [1.9%](/filings/0001594805-26-000007.md) | [22.7%](/filings/0001594805-26-000007.md) | [10.7%](/filings/0001594805-26-000007.md) |
| Diluted EPS | $ per share | [2.29](/filings/0001594805-23-000011.md) | [(2.73)](/filings/0001594805-25-000012.md) | [0.10](/filings/0001594805-26-000007.md) | [1.55](/filings/0001594805-26-000007.md) | [0.94](/filings/0001594805-26-000007.md) |
| Free cash flow | $bn | [0.5](/filings/0001594805-23-000011.md) | [(0.2)](/filings/0001594805-25-000012.md) | [0.9](/filings/0001594805-26-000007.md) | [1.6](/filings/0001594805-26-000007.md) | [2.0](/filings/0001594805-26-000007.md) |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; Revenue: us-gaap:Revenues.
- Gross margin (gross profit / revenue). XBRL Gross profit: us-gaap:GrossProfit; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; Revenue: us-gaap:Revenues.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; Revenue: us-gaap:Revenues.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; Revenue: us-gaap:Revenues.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment.

Each value links to the filing it came from. d marks a derived value. A ratio is not reported when any input is missing.

## Insider purchases and sales

The last 20 open-market transactions on Form 4 (codes P and S). Reported price is as stated on the form, not a market price. [All insider transactions](/companies/shop/insiders.md)

None in coverage.

## Funds that report holding it

From each manager’s latest Form 13F, largest reported value first. Reported value is as filed: filing data, not a price. [All funds](/funds.md)

| Fund | Quarter ended | Reported value | Shares | Put or call | Change on the quarter before |
| --- | --- | ---: | ---: | --- | --- |
| [Capital International Investors](/funds/1562230.md) | 2026-06-30 | $6.27bn | 54,893,641 |  | Added +4,833,553 |
| [FMR LLC](/funds/315066.md) | 2026-06-30 | $5.39bn | 47,175,518 |  | Added +1,341,034 |
| [Invesco Ltd.](/funds/914208.md) | 2026-06-30 | $4.18bn | 36,570,929 |  | Added +25,923,294 |
| [VANGUARD CAPITAL MANAGEMENT LLC](/funds/2100119.md) | 2026-06-30 | $3.91bn | 34,133,098 |  | Added +397,954 |
| [Capital World Investors](/funds/1422849.md) | 2026-06-30 | $3.89bn | 34,087,544 |  | Added +390,700 |
| [BAILLIE GIFFORD & CO](/funds/1088875.md) | 2026-06-30 | $3.24bn | 28,403,600 |  | Reduced −618,241 |
| [MORGAN STANLEY](/funds/895421.md) | 2026-06-30 | $2.91bn | 25,517,034 |  | Added +812,368 |
| [ROYAL BANK OF CANADA](/funds/1000275.md) | 2026-06-30 | $2.69bn | 23,534,300 |  | Added +1,875,604 |
| [FIL Ltd](/funds/318989.md) | 2026-06-30 | $2.21bn | 19,275,482 |  | Added +1,049,013 |
| [NORGES BANK](/funds/1374170.md) | 2026-06-30 | $1.87bn | 16,410,473 |  | New +16,410,473 |

## Recent filings

[All 535 filings](/companies/shop/filings.md)

| Filed | Accepted | Form | What it is | Accession |
| --- | --- | --- | --- | --- |
| 2026-08-31 | 21:40 ET | [SCHEDULE 13D/A](/filings/0001193125-26-377123.md) | Ownership report, active investor, amended | 0001193125-26-377123 |
| 2026-08-05 | 07:03 ET | [10-Q](/filings/0001594805-26-000047.md) | Quarterly report, period 2026-06-30 | 0001594805-26-000047 |
| 2026-08-05 | 07:01 ET | [8-K](/filings/0001594805-26-000046.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001594805-26-000046 |
| 2026-07-02 | 17:00 ET | [8-K](/filings/0001594805-26-000035.md) | 5.02 Departure or appointment of officers or directors; 9.01 Financial statements and exhibits | 0001594805-26-000035 |
| 2026-06-16 | 16:04 ET | [8-K](/filings/0001594805-26-000030.md) | 5.07 Shareholder vote results; 8.01 Other events; 9.01 Financial statements and exhibits | 0001594805-26-000030 |
| 2026-06-02 | 17:01 ET | [8-K](/filings/0001594805-26-000028.md) | 7.01 Regulation FD disclosure; 9.01 Financial statements and exhibits | 0001594805-26-000028 |
| 2026-05-08 | 17:01 ET | [8-K](/filings/0001594805-26-000022.md) | 8.01 Other events; 9.01 Financial statements and exhibits | 0001594805-26-000022 |
| 2026-05-05 | 07:19 ET | [10-Q](/filings/0001594805-26-000019.md) | Quarterly report, period 2026-03-31 | 0001594805-26-000019 |
| 2026-05-05 | 07:18 ET | [8-K](/filings/0001594805-26-000018.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001594805-26-000018 |
| 2026-04-29 | 17:00 ET | [10-K/A](/filings/0001594805-26-000011.md) | Annual report, amended, period 2025-12-31 | 0001594805-26-000011 |

## Latest annual report

[Form 10-K for the fiscal year ended Dec 31, 2025](/filings/0001594805-26-000007.md), filed Feb 11, 2026.

## Forecast league

Q3 FY2026, the quarter ended 2026-09-30, is open for forecasts until the first results filing for it is accepted by EDGAR. Results are due by \[object Promise\]. [Forecast this quarter](/leagues/2026q3/targets/3f4a978c-b2d2-4f63-846a-bd0cf59bf280)

## About the filer

- CIK: 1594805
- Tickers: SHOP
- Exchange: Nasdaq
- SIC code: 7372 Services-Prepackaged Software
- State of incorporation: Z4
- Filer category: Large accelerated filer

Source: SEC EDGAR, XBRL company facts, the filing index and Forms 4. Last ingested by Listed: Oct 24, 2026, 15:43 ET. No prices; not investment advice.