Shopify (SHOP) Operating Leases (2018 - 2026)

Shopify has reported Operating Leases for 9 years, with the latest figure at $163.0 million in Q1 2026.

• For the quarter ending Q1 2026, Operating Leases fell 18.5% year-over-year to $163.0 million; the trailing twelve-month figure through Mar 2026 stood at $163.0 million (down 18.5% YoY), and the FY2025 full-year result was $171.0 million, down 10.0% from the prior year.
• Operating Leases for Q1 2026 stood at $163.0 million, down from $171.0 million in the prior quarter.
• The five-year high for Operating Leases was $283.0 million in Q3 2022, with the low at $54.4 million in Q4 2023.
• Average Operating Leases over 5 years is $185.6 million, with a median of $199.5 million recorded in 2022.
• Year-over-year, Operating Leases plunged 51.08% in 2022 and soared 249.55% in 2024.
• Tracing SHOP's Operating Leases over 5 years: stood at $95.8 million in 2022, then tumbled by 43.24% to $54.4 million in 2023, then surged by 249.55% to $190.0 million in 2024, then retreated by 10.0% to $171.0 million in 2025, then retreated by 4.68% to $163.0 million in 2026.
• The last three Operating Leases figures came in at $163.0 million (Q1 2026), $171.0 million (Q4 2025), and $176.0 million (Q3 2025), per Business Quant data.

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