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Shopify (SHOP) Cost of Revenue (2016 - 2025)

Historic Cost of Revenue for Shopify (SHOP) over the last 13 years, with Q4 2025 value amounting to $2.0 billion.

  • Shopify's Cost of Revenue rose 3554.79% to $2.0 billion in Q4 2025 from the same period last year, while for Dec 2025 it was $6.0 billion, marking a year-over-year increase of 3613.88%. This contributed to the annual value of $6.0 billion for FY2025, which is 3613.88% up from last year.
  • Latest data reveals that Shopify reported Cost of Revenue of $2.0 billion as of Q4 2025, which was up 3554.79% from $1.5 billion recorded in Q3 2025.
  • In the past 5 years, Shopify's Cost of Revenue registered a high of $2.0 billion during Q4 2025, and its lowest value of $147.1 million during Q1 2021.
  • Over the past 5 years, Shopify's median Cost of Revenue value was $312.2 million (recorded in 2022), while the average stood at $710.3 million.
  • Its Cost of Revenue has fluctuated over the past 5 years, first crashed by 539.64% in 2023, then surged by 21498.26% in 2024.
  • Quarter analysis of 5 years shows Shopify's Cost of Revenue stood at $218.5 million in 2021, then grew by 0.37% to $219.3 million in 2022, then soared by 46.34% to $321.0 million in 2023, then soared by 354.83% to $1.5 billion in 2024, then soared by 35.55% to $2.0 billion in 2025.
  • Its Cost of Revenue was $2.0 billion in Q4 2025, compared to $1.5 billion in Q3 2025 and $1.4 billion in Q2 2025.