Shopify (SHOP) Operating Expenses (2024 - 2026)

Shopify has reported Operating Expenses for 3 years, with the latest figure at $1.2 billion in Q2 2026.

• On a quarterly basis, Operating Expenses rose 20.67% year-over-year to $1.2 billion in Q2 2026; TTM through Jun 2026 was $4.5 billion, a 21.49% increase from a year earlier, with the FY2025 full-year figure at $4.1 billion, up 20.31% from the prior year.
• Operating Expenses was $1.2 billion for Q2 2026 at Shopify, up from $1.2 billion in the prior quarter.
• The five-year high for Operating Expenses was $1.2 billion in Q2 2026, with the low at $804.0 million in Q2 2024.
• Average Operating Expenses over 3 years is $986.8 million, with a median of $988.5 million recorded in 2025.
• The largest YoY upside for Operating Expenses was 25.75% in 2025 against a maximum downside of 10.91% in 2025.
• Over 3 years, Operating Expenses stood at $887.0 million in 2024, then grew by 19.73% to $1.1 billion in 2025, then grew by 14.88% to $1.2 billion in 2026.
• The last three Operating Expenses figures came in at $1.2 billion (Q2 2026), $1.2 billion (Q1 2026), and $1.1 billion (Q4 2025), per Business Quant data.