Shopify (SHOP) EBITDA (2024 - 2026)

Shopify's EBITDA history runs 3 years deep, the most recent figure standing at -$586.0 million for Q1 2026.

• In Q1 2026, EBITDA rose 13.57% year-over-year to -$586.0 million; the TTM figure through Mar 2026 stood at $1.3 billion (down 17.04% YoY), while the FY2025 annual figure was $1.2 billion, down 38.05% from the prior year.
• EBITDA was -$586.0 million for Q1 2026 at Shopify, down from $745.0 million in the prior quarter.
• In the past five years, EBITDA ranged from a high of $1.3 billion in Q4 2024 to a low of -$678.0 million in Q1 2025.
• Historically, EBITDA has averaged $295.7 million across 3 years, with a median of $258.0 million in 2025.
• Biggest YoY gain for EBITDA was 439.41% in 2025; the steepest drop was 141.28% in 2025.
• A 3-year view of EBITDA shows it stood at $1.3 billion in 2024, then slumped by 41.98% to $745.0 million in 2025, then slumped by 178.66% to -$586.0 million in 2026.
• The last three EBITDA figures came in at -$586.0 million (Q1 2026), $745.0 million (Q4 2025), and $258.0 million (Q3 2025), per Business Quant data.