Shopify (SHOP) Operating Expenses (2014 - 2026)

Shopify has reported Operating Expenses for 13 years, with the latest figure at $1.2 billion in Q1 2026.

• For the quarter ending Q1 2026, Operating Expenses rose 20.5% year-over-year to $1.2 billion; the trailing twelve-month figure through Mar 2026 stood at $4.3 billion (up 22.71% YoY), and the FY2025 full-year result was $4.1 billion, up 20.31% from the prior year.
• Operating Expenses for Q1 2026 stood at $1.2 billion, up from $1.1 billion in the prior quarter.
• The five-year high for Operating Expenses was $2.5 billion in Q2 2023, with the low at $114.6 million in Q4 2023.
• Average Operating Expenses over 5 years is $940.2 million, with a median of $879.0 million recorded in 2024.
• Year-over-year, Operating Expenses tumbled 84.25% in 2023 and soared 674.08% in 2024.
• Tracing SHOP's Operating Expenses over 5 years: stood at $727.3 million in 2022, then plunged by 84.25% to $114.6 million in 2023, then soared by 674.08% to $887.0 million in 2024, then grew by 19.73% to $1.1 billion in 2025, then climbed by 9.6% to $1.2 billion in 2026.
• The last three Operating Expenses figures came in at $1.2 billion (Q1 2026), $1.1 billion (Q4 2025), and $1.0 billion (Q3 2025), per Business Quant data.

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