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

Shopify's Research & Development history runs 3 years deep, the most recent figure standing at $496.0 million for Q1 2026.

• On a quarterly basis, Research & Development rose 31.56% year-over-year to $496.0 million in Q1 2026; TTM through Mar 2026 was $1.6 billion, a 13.06% increase from a year earlier, with the FY2025 full-year figure at $1.5 billion, up 10.27% from the prior year.
• Research & Development rose to $496.0 million in Q1 2026 per SHOP's latest filing, from $306.0 million in the prior quarter.
• Across five years, Research & Development topped out at $496.0 million in Q1 2026 and bottomed at $306.0 million in Q4 2025.
• The 3-year median for Research & Development is $377.0 million (2024), against an average of $377.9 million.
• Across the five-year window, Research & Development slipped 18.83% in 2025 and soared 31.56% in 2026, its largest moves.
• Year by year, Research & Development stood at $377.0 million in 2024, then retreated by 18.83% to $306.0 million in 2025, then surged by 62.09% to $496.0 million in 2026.
• Per Business Quant, the three latest SHOP Research & Development figures stand at $496.0 million (Q1 2026), $306.0 million (Q4 2025), and $410.0 million (Q3 2025).