Shopify (SHOP) Cash from Operations (2024 - 2026)
Shopify (SHOP) posted Cash from Operations of $658.0 million for Q2 2026, up 36.8% on a QoQ basis from $481.0 million in Q1 2026, and up 53.74% year-over-year from $428.0 million in Q2 2025.
Analysis
Shopify (SHOP) Cash from Operations (2024 - 2026) Analysis & Trends
Shopify has reported Cash from Operations for 3 years, with the latest figure at $658.0 million in Q2 2026.
- On a quarterly basis, Cash from Operations rose 53.74% year-over-year to $658.0 million in Q2 2026; TTM through Jun 2026 was $2.4 billion, a 29.68% increase from a year earlier, with the FY2025 full-year figure at $2.0 billion, up 25.8% from the prior year.
- Cash from Operations was $658.0 million for Q2 2026 at Shopify, up from $481.0 million in the prior quarter.
- The five-year high for Cash from Operations was $725.0 million in Q4 2025, with the low at $238.0 million in Q1 2024.
- Average Cash from Operations over 3 years is $478.8 million, with a median of $454.5 million recorded in 2025.
- The largest YoY upside for Cash from Operations was 54.2% in 2025 against a maximum downside of 17.89% in 2025.
- Over 3 years, Cash from Operations stood at $615.0 million in 2024, then climbed by 17.89% to $725.0 million in 2025, then fell by 9.24% to $658.0 million in 2026.
- The last three Cash from Operations figures came in at $658.0 million (Q2 2026), $481.0 million (Q1 2026), and $725.0 million (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cash from Operations (Qtr) |
|---|---|---|---|---|---|
| 1 | Shopify | 187.92 Bn | 182.98 Bn | 1.71 Bn | 658.00 Mn |
| 2 | Global-E Online | 6.49 Bn | 6.13 Bn | 131.87 Mn | 73.64 Mn |
| 3 | Vtex | 624.51 Mn | 438.62 Mn | 51.71 Mn | 12.91 Mn |
| 4 | Rezolve Ai | 359.91 Mn | 248.80 Mn | - | - |
| 5 | Commerce.com | 212.95 Mn | 56.62 Mn | 63.53 Mn | 5.09 Mn |
| 6 | Baozun | 154.04 Mn | -65.26 Mn | 302.56 Mn | - |
| 7 | BeLive Holdings | 23.36 Mn | 16.74 Mn | - | - |
| 8 | Paid | 20.26 Mn | 19.18 Mn | 1.22 Mn | 217,888.00 |
| 9 | Caro Holdings | 11.71 Mn | 11.71 Mn | - | -15,445.00 |
| 10 | My Size | 1.36 Mn | 650,132.45 | 973,000.00 | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 658.00 Mn |
| Mar 31, 2026 | 481.00 Mn |
| Dec 31, 2025 | 725.00 Mn |
| Sep 30, 2025 | 513.00 Mn |
| Jun 30, 2025 | 428.00 Mn |
| Mar 31, 2025 | 367.00 Mn |
| Dec 31, 2024 | 615.00 Mn |
| Sep 30, 2024 | 423.00 Mn |
| Jun 30, 2024 | 340.00 Mn |
| Mar 31, 2024 | 238.00 Mn |