Shopify annual r&d spending
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2025
Shopify R&D Spending Growth & History (SHOP)
Shopify's r&d spending was $1.54B for fiscal 2025.
View full Shopify company overviewShopify annual r&d spending history
| Fiscal year | Period ended | R&D spending | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | $1.54B | $169.0M | +12.36% |
| 2024 | 2024-12-31 | $1.37B | −$363.0M | −20.98% |
| 2023 | 2023-12-31 | $1.73B | $227.0M | +15.10% |
| 2022 | 2022-12-31 | $1.50B | $648.6M | +75.92% |
| 2021 | 2021-12-31 | $854.4M | $302.3M | +54.74% |
| 2020 | 2020-12-31 | $552.1M | $197.1M | +55.52% |
| 2019 | 2019-12-31 | $355.0M | $124.3M | +53.90% |
| 2018 | 2018-12-31 | $230.7M | $94.7M | +69.62% |
| 2017 | 2017-12-31 | $136.0M | $61.7M | +82.95% |
| 2016 | 2016-12-31 | $74.3M | $34.6M | +87.14% |
| 2015 | 2015-12-31 | $39.7M | $13.8M | +53.28% |
| 2014 | 2014-12-31 | $25.9M | $12.2M | +89.41% |
| 2013 | 2013-12-31 | $13.7M | — | — |
Shopify quarterly r&d spending
Q1.24
Q2.24
Q3.24
Q4.24
Q1.25
Q2.25
Q3.25
Q4.25
Q1.26
Q2.26
| Fiscal quarter | Period ended | R&D spending | Change | YoY change |
|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | $445.0M | $51.0M | +12.94% |
| Q1 2026 | 2026-03-31 | $437.0M | $60.0M | +15.92% |
| Q4 2025 | 2025-12-31 | $390.0M | $39.0M | +11.11% |
| Q3 2025 | 2025-09-30 | $375.0M | $43.0M | +12.95% |
| Q2 2025 | 2025-06-30 | $394.0M | $45.0M | +12.89% |
| Q1 2025 | 2025-03-31 | $377.0M | $42.0M | +12.54% |
| Q4 2024 | 2024-12-31 | $351.0M | — | — |
| Q3 2024 | 2024-09-30 | $332.0M | — | — |
| Q2 2024 | 2024-06-30 | $349.0M | — | — |
| Q1 2024 | 2024-03-31 | $335.0M | — | — |
Shopify r&d spending trends
Over the last five fiscal years, Shopify's r&d spending increased from $552.1M to $1.54B, a change of $983.9M. The latest reported quarter, Q2 2026, shows $445.0M.
About the metric
What research and development spending means
Research and development (R&D) spending covers the costs of creating and improving products, services, software, technologies, and processes. Higher R&D spending may support future innovation, but the amount alone does not show whether those investments will generate returns.
Calculation and source
SEC-reported R&D expense
TickerStat standardizes research and development expense reported in company SEC filings, including the software-specific US-GAAP R&D concept when it is the filer’s primary R&D expense line. It is historical company-reported spending, not an estimate or forecast. Fiscal periods can differ from calendar years, so exact period-end dates are included.
Review Shopify source filings ↗