Shopify (SHOP) Operating Leases (2018 - 2026)

Shopify's Operating Leases history runs 9 years deep, the most recent figure standing at $163.0 million for Q1 2026.

• In Q1 2026, Operating Leases fell 18.5% year-over-year to $163.0 million; the TTM figure through Mar 2026 stood at $163.0 million (down 18.5% YoY), while the FY2025 annual figure was $171.0 million, down 10.0% from the prior year.
• Operating Leases was $163.0 million for Q1 2026 at Shopify, down from $171.0 million in the prior quarter.
• In the past five years, Operating Leases ranged from a high of $465.0 million in Q4 2022 to a low of $163.0 million in Q1 2026.
• Historically, Operating Leases has averaged $222.8 million across 5 years, with a median of $195.0 million in 2024.
• The sharpest annual moves came in 2022 and 2023: Operating Leases soared 88.43% in 2022, then plunged 53.33% in 2023.
• A 5-year view of Operating Leases shows it stood at $465.0 million in 2022, then slumped by 53.33% to $217.0 million in 2023, then decreased by 12.44% to $190.0 million in 2024, then fell by 10.0% to $171.0 million in 2025, then fell 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.