Shopify (SHOP) Exchange Rate Effect (2024 - 2026)
Shopify (SHOP) posted Exchange Rate Effect of -$4.0 million for Q2 2026, down 33.33% on a QoQ basis from -$3.0 million in Q1 2026, and down 130.77% year-over-year from $13.0 million in Q2 2025.
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Analysis
Shopify (SHOP) Exchange Rate Effect (2024 - 2026) Analysis & Trends
Shopify has reported Exchange Rate Effect for 3 years, with the latest figure at -$4.0 million in Q2 2026.
- On a quarterly basis, Exchange Rate Effect fell 130.77% year-over-year to -$4.0 million in Q2 2026; TTM through Jun 2026 was -$9.0 million, a 156.25% decrease from a year earlier, with the FY2025 full-year figure at $15.0 million, up 350.0% from the prior year.
- Exchange Rate Effect was -$4.0 million for Q2 2026 at Shopify, down from -$3.0 million in the prior quarter.
- The five-year high for Exchange Rate Effect was $13.0 million in Q2 2025, with the low at -$12.0 million in Q4 2024.
- Average Exchange Rate Effect over 3 years is $222222.2, with a median of -$2.0 million recorded in 2025.
- The sharpest annual moves came in 2025 and 2026: Exchange Rate Effect soared 1400.0% in 2025, then tumbled 175.0% in 2026.
- Over 3 years, Exchange Rate Effect stood at -$12.0 million in 2024, then jumped by 83.33% to -$2.0 million in 2025, then sank by 100.0% to -$4.0 million in 2026.
- The last three Exchange Rate Effect figures came in at -$4.0 million (Q2 2026), -$3.0 million (Q1 2026), and -$2.0 million (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FX Effect (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 4,144.46 Bn | 3,901.99 Bn | 73.85 Bn | -31.00 Mn |
| 2 | Meta Platforms | 1,981.30 Bn | 1,683.82 Bn | 49.47 Bn | -7.00 Mn |
| 3 | Netflix | 296.22 Bn | 256.42 Bn | 6.52 Bn | -19.63 Mn |
| 4 | Alibaba Group Holding | 254.92 Bn | 72.79 Bn | 15.11 Bn | -224.00 Mn |
| 5 | Shopify | 184.25 Bn | 161.43 Bn | 1.71 Bn | -4.00 Mn |
| 6 | Uber Technologies | 142.00 Bn | 113.98 Bn | 6.38 Bn | 54.00 Mn |
| 7 | Booking Holdings | 123.19 Bn | 56.24 Bn | - | -111.00 Mn |
| 8 | PDD Holdings | 110.41 Bn | -141.52 Bn | 9.45 Bn | 182.40 Mn |
| 9 | Spotify Technology | 104.89 Bn | 62.12 Bn | 1.86 Bn | 26.73 Mn |
| 10 | AppLovin | 104.19 Bn | 94.23 Bn | 1.70 Bn | -1.55 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -4.00 Mn |
| Mar 31, 2026 | -3.00 Mn |
| Dec 31, 2025 | -2.00 Mn |
| Jun 30, 2025 | 13.00 Mn |
| Mar 31, 2025 | 4.00 Mn |
| Dec 31, 2024 | -12.00 Mn |
| Sep 30, 2024 | 11.00 Mn |
| Jun 30, 2024 | -1.00 Mn |
| Mar 31, 2024 | -4.00 Mn |
API Access
Shopify Exchange Rate Effect API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=exchange-rate-effect&ticker=SHOP&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "exchange-rate-effect", "ticker": "SHOP", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=exchange-rate-effect&ticker=SHOP&period=max&api_key=YOUR_API_KEY");
const data = await res.json();