NASDAQ: SHOP
SHOPIFY INC.CIK 0001594805 · SIC 7372 · Prepackaged Software
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Shopify revenue +33.7% to $3.58B, net income +65.8% to $1.50B; $5B buyback authorized
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Shopify Audit Committee Chair resigns to join U.S. Department of Commerce
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Shopify shareholders approve all directors, auditor; 19% oppose executive pay approach
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Shopify authorizes $3B additional share buyback, bringing total program to $5B
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Shopify files routine 2026 Annual Meeting proxy materials
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revenue $3.17B, net income -$581.0M. Shopify accelerates to 34% revenue growth, launches buyback, shifts lending accounting
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Shopify announces Q1 2026 earnings results via press release
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Latest financial statements
From 10-Q filed Aug 5, 2026 (period ending Jun 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited)
(Expressed in US $ millions, except share and per share amounts)
| Description | Three months ended June 30, 2026 | Three months ended June 30, 2025 | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|---|---|
| Revenues | ||||
| Subscription solutions | 802 | 656 | 1,552 | 1,276 |
| Merchant solutions | 2,781 | 2,024 | 5,201 | 3,764 |
| 3,583 | 2,680 | 6,753 | 5,040 | |
| Cost of revenues | ||||
| Subscription solutions | 163 | 121 | 311 | 244 |
| Merchant solutions | 1,712 | 1,257 | 3,188 | 2,325 |
| 1,875 | 1,378 | 3,499 | 2,569 | |
| Gross profit | 1,708 | 1,302 | 3,254 | 2,471 |
| Operating expenses | ||||
| Sales and marketing | 498 | 415 | 994 | 820 |
| Research and development | 445 | 394 | 882 | 771 |
| General and administrative | 136 | 122 | 251 | 231 |
| Transaction and loan losses | 141 | 80 | 257 | 155 |
| Total operating expenses | 1,220 | 1,011 | 2,384 | 1,977 |
| Income from operations | 488 | 291 | 870 | 494 |
| Other income (expense), net | ||||
| Interest income | 66 | 106 | 141 | 171 |
| Net realized gain on equity and other investments | 1 | 1 | 4 | 1 |
| Net unrealized gain (loss) on equity and other investments | 1,249 | 681 | 185 | (340) |
| Net loss on equity method investment | (22) | (24) | (43) | (47) |
| Foreign exchange (loss) gain | (7) | 24 | (16) | 30 |
| Total other income (expense), net | 1,287 | 788 | 271 | (185) |
| Income before income taxes | 1,775 | 1,079 | 1,141 | 309 |
| Provision for income taxes | (273) | (173) | (220) | (85) |
| Net income | 1,502 | 906 | 921 | 224 |
| Net income per share attributable to shareholders: | ||||
| Basic | 1.16 | 0.70 | 0.71 | 0.17 |
| Diluted | 1.16 | 0.69 | 0.71 | 0.17 |
| Weighted average shares used to compute net income per share attributable to shareholders: | ||||
| Basic | 1,295,220,307 | 1,297,746,050 | 1,299,266,611 | 1,296,593,342 |
| Diluted | 1,297,940,958 | 1,308,993,838 | 1,302,627,927 | 1,308,463,539 |
| Other comprehensive (loss) income | ||||
| Unrealized (loss) gain on cash flow hedges | (4) | 16 | (11) | 21 |
| Tax effect on unrealized (loss) gain on cash flow hedges | 1 | (5) | 3 | (6) |
| Total other comprehensive (loss) income | (3) | 11 | (8) | 15 |
| Comprehensive income | 1,499 | 917 | 913 | 239 |
Condensed Consolidated Balance Sheets (Unaudited)
(Expressed in US $ millions, except share amounts)
| Description | June 30, 2026 | December 31, 2025 |
|---|---|---|
| Assets | ||
| Current assets | ||
| Cash and cash equivalents | 1,656 | 1,545 |
| Marketable securities | 3,291 | 4,233 |
| Trade and other receivables, net | 466 | 500 |
| Loans and merchant cash advances, net | 2,184 | 1,784 |
| Other current assets | 219 | 234 |
| 7,816 | 8,296 | |
| Long-term assets | ||
| Property and equipment, net | 53 | 53 |
| Operating lease right-of-use assets, net | 90 | 88 |
| Intangible assets, net | 27 | 30 |
| Deferred tax assets | 30 | 33 |
| Other long-term assets | 25 | 39 |
| Long-term investments | 525 | 975 |
| Equity and other investments ($3,299 and $3,619, carried at fair value) | 4,854 | 4,582 |
| Equity method investment | 559 | 602 |
| Goodwill | 491 | 491 |
| 6,654 | 6,893 | |
| Total assets | 14,470 | 15,189 |
| Liabilities and shareholders’ equity | ||
| Current liabilities | ||
| Accounts payable and accrued liabilities | 1,115 | 1,075 |
| Deferred revenue | 335 | 300 |
| Operating lease liabilities | 10 | 17 |
| 1,460 | 1,392 | |
| Long-term liabilities | ||
| Deferred revenue | 79 | 98 |
| Operating lease liabilities | 168 | 171 |
| Deferred tax liabilities | 79 | 55 |
| 326 | 324 | |
| Contingencies (Note 8) | ||
| Shareholders’ equity | ||
| Common stock, unlimited Class A subordinate voting shares authorized, 1,211,133,003 and 1,225,830,706, issued and outstanding; unlimited Class B restricted voting shares authorized, 78,073,584 and 78,073,594 issued and outstanding; 1 Founder Share authorized, 1 and 1 issued and outstanding | 8,636 | 10,376 |
| Additional paid-in capital | 274 | 236 |
| Accumulated other comprehensive (loss) income | (7) | 1 |
| Accumulated surplus | 3,781 | 2,860 |
| Total shareholders’ equity | 12,684 | 13,473 |
| Total liabilities and shareholders’ equity | 14,470 | 15,189 |
Condensed Consolidated Statements of Cash Flows (Unaudited)
(Expressed in US $ millions)
| Description | Three months ended June 30, 2026 | Three months ended June 30, 2025 | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|---|---|
| Cash flows from operating activities | ||||
| Net income for the period | 1,502 | 906 | 921 | 224 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||
| Amortization and depreciation | 7 | 8 | 14 | 16 |
| Stock-based compensation | 128 | 113 | 260 | 227 |
| Impairment of right-of-use assets and leasehold improvements | — | 10 | — | 10 |
| Provision for transaction and loan losses | 94 | 44 | 142 | 87 |
| Deferred income tax expense (recovery) | 165 | 98 | 26 | (31) |
| Revenue related to non-cash consideration | (13) | (12) | (25) | (25) |
| Net (gain) loss on equity and other investments | (1,250) | (682) | (189) | 339 |
| Net loss on equity method investment | 22 | 24 | 43 | 47 |
| Unrealized foreign exchange loss (gain) | 4 | (46) | 18 | (58) |
| Changes in operating assets and liabilities | (1) | (35) | (71) | (41) |
| Net cash provided by operating activities | 658 | 428 | 1,139 | 795 |
| Cash flows from investing activities | ||||
| Purchases of property and equipment | (4) | (6) | (9) | (10) |
| Purchases of marketable securities | (654) | (1,464) | (1,497) | (3,182) |
| Maturities of marketable securities | 1,450 | 1,464 | 2,913 | 2,795 |
| Purchases and originations of loans and merchant cash advances(1) | (1,584) | (944) | (2,933) | (1,749) |
| Repayments and sales of loans and merchant cash advances(1) | 1,417 | 767 | 2,460 | 1,404 |
| Purchases of equity and other investments | (55) | (71) | (56) | (75) |
| Acquisition of businesses, net of cash acquired | — | — | — | (56) |
| Other | 1 | 2 | 3 | 2 |
| Net cash provided by (used in) investing activities | 571 | (252) | 881 | (871) |
| Cash flows from financing activities | ||||
| Proceeds from the exercise of stock options | 3 | 44 | 9 | 103 |
| Repurchases of common stock | (1,420) | — | (1,911) | — |
| Net cash (used in) provided by financing activities | (1,417) | 44 | (1,902) | 103 |
| Effect of foreign exchange on cash, cash equivalents and restricted cash | (4) | 13 | (7) | 17 |
| Net (decrease) increase in cash, cash equivalents and restricted cash | (192) | 233 | 111 | 44 |
| Cash, cash equivalents and restricted cash beginning of period | 1,848 | 1,309 | 1,545 | 1,498 |
| Cash, cash equivalents and restricted cash end of period | 1,656 | 1,542 | 1,656 | 1,542 |
| Supplemental cash flow information: | ||||
| Cash paid for income taxes, net | 148 | 61 | 241 | 88 |
Amounts as printed on the EDGAR/iXBRL face — (Expressed in US $ millions, except share and per share amounts); (Expressed in US $ millions, except share amounts); (Expressed in US $ millions). Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗