Shopify Inc.
Income Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Revenue | $11.56B | $8.88B | $7.06B | $5.60B |
| Cost of Revenue | $6.00B | $4.41B | $3.55B | $2.85B |
| Gross Profit | $5.56B | $4.47B | $3.52B | $2.75B |
| Gross Margin | 48.1% | 50.4% | 49.8% | 49.2% |
| Operating Expenses | ||||
| Research & Development | $1.54B | $1.37B | $1.73B | $1.50B |
| SG&A Expense | $471.0M | $410.0M | $491.0M | $708.0M |
| Operating Income | $1.47B | $1.08B | $-1.42B | $-822.0M |
| Operating Margin | 12.7% | 12.1% | -20.1% | -14.7% |
| Interest Expense | — | — | — | — |
| Pretax Income | $1.51B | $2.23B | $185.0M | — |
| Income Tax Expense | $278.0M | $209.0M | $53.0M | $-163.0M |
| Net Income | $1.23B | $2.02B | $132.0M | $-3.46B |
| Net Margin | 10.7% | 22.7% | 1.9% | -61.8% |
| EPS (Basic) | $0.95 | $1.57 | $0.10 | $-2.73 |
| EPS (Diluted) | $0.94 | $1.55 | $0.10 | $-2.73 |
| Shares Outstanding (Basic) | 1.30B | 1.29B | 1.28B | 1.27B |
| Shares Outstanding (Diluted) | 1.30B | 1.30B | 1.30B | 1.27B |
| Dividends Per Share | — | — | — | — |