Shopify (SHOP) Operating Income (2024 - 2026)

Shopify's Operating Income history runs 3 years deep, the most recent figure standing at $382.0 million for Q1 2026.

• In Q1 2026, Operating Income rose 88.18% year-over-year to $382.0 million; the TTM figure through Mar 2026 stood at $1.6 billion (up 38.17% YoY), while the FY2025 annual figure was $1.5 billion, up 36.56% from the prior year.
• Operating Income was $382.0 million for Q1 2026 at Shopify, down from $631.0 million in the prior quarter.
• In the past five years, Operating Income ranged from a high of $631.0 million in Q4 2025 to a low of $86.0 million in Q1 2024.
• Historically, Operating Income has averaged $325.0 million across 3 years, with a median of $291.0 million in 2025.
• Biggest YoY gain for Operating Income was 136.05% in 2025; the steepest drop was 20.75% in 2025.
• A 3-year view of Operating Income shows it stood at $465.0 million in 2024, then surged by 35.7% to $631.0 million in 2025, then tumbled by 39.46% to $382.0 million in 2026.
• The last three Operating Income figures came in at $382.0 million (Q1 2026), $631.0 million (Q4 2025), and $343.0 million (Q3 2025), per Business Quant data.