Growth Metrics

Shopify (SHOP) Operating Expenses (2024 - 2025)

Shopify has reported Operating Expenses over the past 2 years, most recently at $1.1 billion for Q4 2025.

  • Quarterly results put Operating Expenses at $1.1 billion for Q4 2025, up 19.73% from a year ago — trailing twelve months through Dec 2025 was $4.1 billion (up 20.31% YoY), and the annual figure for FY2025 was $4.1 billion, up 20.31%.
  • Operating Expenses for Q4 2025 was $1.1 billion at Shopify, up from $1.0 billion in the prior quarter.
  • Over the last five years, Operating Expenses for SHOP hit a ceiling of $1.1 billion in Q4 2025 and a floor of $804.0 million in Q2 2024.