Shopify annual operating expenses
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Shopify Operating Expenses Growth & History (SHOP)
Shopify's operating expenses was $4.09B for fiscal 2025.
View full Shopify company overviewShopify annual operating expenses history
| Fiscal year | Period ended | Operating expenses | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | $4.09B | $690.0M | +20.31% |
| 2024 | 2024-12-31 | $3.40B | −$1.54B | −31.14% |
| 2023 | 2023-12-31 | $4.93B | $1.36B | +37.95% |
| 2022 | 2022-12-31 | $3.58B | $1.36B | +61.63% |
| 2021 | 2021-12-31 | $2.21B | $761.1M | +52.44% |
| 2020 | 2020-12-31 | $1.45B | $444.6M | +44.16% |
| 2019 | 2019-12-31 | $1.01B | $318.6M | +46.30% |
| 2018 | 2018-12-31 | $688.2M | $258.8M | +60.26% |
| 2017 | 2017-12-31 | $429.4M | $182.8M | +74.09% |
| 2016 | 2016-12-31 | $246.7M | $115.6M | +88.27% |
| 2015 | 2015-12-31 | $131.0M | $47.6M | +57.07% |
| 2014 | 2014-12-31 | $83.4M | $42.4M | +103.40% |
| 2013 | 2013-12-31 | $41.0M | — | — |
Shopify quarterly operating expenses
Q1.24
Q2.24
Q3.24
Q4.24
Q1.25
Q2.25
Q3.25
Q4.25
Q1.26
Q2.26
| Fiscal quarter | Period ended | Operating expenses | Change | YoY change |
|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | $1.22B | $209.0M | +20.67% |
| Q1 2026 | 2026-03-31 | $1.16B | $198.0M | +20.50% |
| Q4 2025 | 2025-12-31 | $1.06B | $175.0M | +19.73% |
| Q3 2025 | 2025-09-30 | $1.05B | $213.0M | +25.51% |
| Q2 2025 | 2025-06-30 | $1.01B | $207.0M | +25.75% |
| Q1 2025 | 2025-03-31 | $966.0M | $95.0M | +10.91% |
| Q4 2024 | 2024-12-31 | $887.0M | — | — |
| Q3 2024 | 2024-09-30 | $835.0M | — | — |
| Q2 2024 | 2024-06-30 | $804.0M | — | — |
| Q1 2024 | 2024-03-31 | $871.0M | — | — |
Shopify operating expenses trends
Over the last five fiscal years, Shopify's operating expenses increased from $1.45B to $4.09B, a change of $2.64B. The latest reported quarter, Q2 2026, shows $1.22B.
About the metric
What operating expenses mean
Operating expenses are the recurring costs of running a company’s business beyond the direct costs used to calculate gross profit. They commonly include selling, general and administrative expenses, research and development, and other operating costs.
Calculation and source
SEC-reported and calculated operating expenses
TickerStat uses operating expenses reported in company SEC filings when available. When a separate total is unavailable, it calculates operating expenses as aligned gross profit minus operating income for the same fiscal period. Fiscal periods can differ from calendar years, so exact period-end dates are included.
Review Shopify source filings ↗