← SHOPIFY INC.
| Annual Trend | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Revenue | $389.3m | $673.3m | $1.1b | $1.6b | $2.9b | $4.6b | $5.6b | $7.2b | $8.9b | $11.6b | |
| Cost of Revenue | $187.0m | $323.5m | $477.0m | $712.5m | $1.4b | $2.1b | $2.8b | $3.5b | $4.4b | $6.0b | |
| Gross Profit | $209.5m | $380.3m | $596.3m | $865.6m | $1.5b | $2.5b | $2.8b | $3.5b | $4.5b | $5.6b | |
| Operating Expenses | $246.7m | $429.4m | $688.2m | $1.0b | $1.5b | $2.2b | $3.6b | $4.9b | $3.4b | $4.1b | |
| Operating Income (Loss) | ($37.2m) | ($49.2m) | ($91.9m) | ($141.1m) | $90.2m | $268.6m | ($822.0m) | ($1.4b) | $1.1b | $1.5b | |
| Additional Financial Items | |||||||||||
| Amortization of Intangible Assets | $3.6m | $6.8m | $10.1m | $18.9m | $31.9m | $24.5m | $54.0m | $38.0m | $14.0m | $13.0m | |
| Foreign Currency Transaction Gain (Loss), before Tax | $274k | $1.3m | ($2.1m) | ($2.9m) | $669k | $286k | ($2.0m) | $1.0m | ($8.0m) | $26.0m | |
| Goodwill, Impairment Loss | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $1.4b | $0 | $0 | |
| Income (Loss) Attributable to Parent, before Tax | — | — | — | ($95.8m) | $240.4m | $3.1b | ($3.6b) | $185.0m | $2.2b | — | |
| Income (Loss) from Continuing Operations before Income Taxes, Domestic | — | — | $64.6m | $95.8m | $240.4m | $3.1b | $3.6b | $185.0m | — | $450.0m | |
| Income (Loss) from Equity Method Investments | — | — | — | — | — | $0 | $0 | ($58.0m) | ($138.0m) | ($40.0m) | |
| Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | — | — | $64.6m | $95.8m | $240.4m | $3.1b | $3.6b | $185.0m | — | $1.5b | |
| Net Income (Loss) Attributable to Parent | ($35.4m) | ($40.0m) | ($64.6m) | ($124.8m) | $319.5m | $2.9b | ($3.5b) | $132.0m | $2.0b | $1.2b | |
| Earnings Per Share, Basic | — | — | — | ($0.11) | $0.27 | $2.34 | ($2.73) | $0.10 | $1.57 | $0.95 | |
| Earnings Per Share, Diluted | — | — | — | ($0.11) | $0.26 | $2.29 | ($2.73) | $0.10 | $1.55 | $0.94 | |
| Weighted Average Number of Shares Outstanding, Basic | — | — | — | — | 1.2b | 1.2b | 1.3b | 1.3b | 1.3b | 1.3b | |
| Weighted Average Number of Shares Outstanding, Diluted | — | — | — | — | 1.2b | 1.3b | 1.3b | 1.3b | 1.3b | 1.3b | |
| Other income (expense): | |||||||||||
| Research and Development Expense | $74.3m | $136.0m | $230.7m | $355.0m | $552.1m | $854.4m | $1.5b | $1.7b | $1.4b | $1.5b | |
| Selling and Marketing Expense | $129.2m | $225.7m | $350.1m | $472.8m | $602.0m | $901.6m | $1.2b | $1.2b | $1.4b | $1.7b | |
| General and Administrative Expense | $43.1m | $67.7m | $107.4m | $178.9m | $245.3m | $374.8m | $708.0m | $491.0m | $410.0m | $471.0m | |
| Current Income Tax Expense (Benefit) | — | — | — | $65.0m | ($34.3m) | $35.0m | $24.0m | $54.0m | $131.0m | $292.0m | |
| Interest Expense | — | — | — | — | $9.1m | $3.5m | $3.5m | — | — | — | |
| Interest Expense, Debt | — | — | — | — | $9.1m | $3.5m | $3.5m | — | — | — | |
| Income Tax Expense (Benefit) | $0 | $0 | $0 | $29.0m | ($79.1m) | $225.9m | ($163.0m) | $53.0m | $209.0m | $278.0m | |
| Nonoperating Income (Expense) | $1.8m | $9.2m | $27.4m | $45.3m | $150.2m | $2.9b | ($2.8b) | $1.6b | $1.2b | $41.0m | |
| Interest Income (Expense), Nonoperating, Net | $1.5m | $7.8m | $29.4m | $48.2m | $23.4m | $15.4m | $75.0m | $241.0m | $308.0m | $331.0m |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.