Shopify (SHOP) Research & Development (2024 - 2026)

Shopify has reported Research & Development for 3 years, with the latest figure at $498.0 million in Q2 2026.

• On a quarterly basis, Research & Development rose 20.0% year-over-year to $498.0 million in Q2 2026; TTM through Jun 2026 was $1.8 billion, a 22.47% increase from a year earlier, with the FY2025 full-year figure at $1.7 billion, up 19.38% from the prior year.
• Research & Development was $498.0 million for Q2 2026 at Shopify, roughly flat from $496.0 million in the prior quarter.
• The five-year high for Research & Development was $498.0 million in Q2 2026, with the low at $332.0 million in Q3 2024.
• Average Research & Development over 3 years is $405.1 million, with a median of $407.5 million recorded in 2025.
• The largest YoY upside for Research & Development was 24.43% in 2025 against a maximum downside of 12.19% in 2025.
• Over 3 years, Research & Development stood at $348.0 million in 2024, then increased by 24.43% to $433.0 million in 2025, then climbed by 15.01% to $498.0 million in 2026.
• The last three Research & Development figures came in at $498.0 million (Q2 2026), $496.0 million (Q1 2026), and $433.0 million (Q4 2025), per Business Quant data.