Shopify (SHOP) EBIAT (2024 - 2026)

Shopify's EBIAT history runs 3 years deep, the most recent figure standing at -$581.0 million for Q1 2026.

• In Q1 2026, EBIAT rose 14.81% year-over-year to -$581.0 million; the TTM figure through Mar 2026 stood at $1.3 billion (down 17.27% YoY), while the FY2025 annual figure was $1.2 billion, down 39.03% from the prior year.
• EBIAT was -$581.0 million for Q1 2026 at Shopify, down from $743.0 million in the prior quarter.
• In the past five years, EBIAT ranged from a high of $1.3 billion in Q4 2024 to a low of -$682.0 million in Q1 2025.
• Historically, EBIAT has averaged $296.6 million across 3 years, with a median of $264.0 million in 2025.
• Biggest YoY gain for EBIAT was 429.82% in 2025; the steepest drop was 149.82% in 2025.
• A 3-year view of EBIAT shows it stood at $1.3 billion in 2024, then slumped by 42.54% to $743.0 million in 2025, then slumped by 178.2% to -$581.0 million in 2026.
• The last three EBIAT figures came in at -$581.0 million (Q1 2026), $743.0 million (Q4 2025), and $264.0 million (Q3 2025), per Business Quant data.