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

Shopify's Research & Development history runs 3 years deep, the most recent figure standing at $437.0 million for Q1 2026.

• In Q1 2026, Research & Development rose 15.92% year-over-year to $437.0 million; the TTM figure through Mar 2026 stood at $1.6 billion (up 13.27% YoY), while the FY2025 annual figure was $1.5 billion, up 12.36% from the prior year.
• Research & Development was $437.0 million for Q1 2026 at Shopify, up from $390.0 million in the prior quarter.
• In the past five years, Research & Development ranged from a high of $437.0 million in Q1 2026 to a low of $332.0 million in Q3 2024.
• Historically, Research & Development has averaged $371.1 million across 3 years, with a median of $375.0 million in 2025.
• The sharpest annual moves came in 2025 and 2026: Research & Development grew 11.11% in 2025, then climbed 15.92% in 2026.
• A 3-year view of Research & Development shows it stood at $351.0 million in 2024, then gained by 11.11% to $390.0 million in 2025, then climbed by 12.05% to $437.0 million in 2026.
• The last three Research & Development figures came in at $437.0 million (Q1 2026), $390.0 million (Q4 2025), and $375.0 million (Q3 2025), per Business Quant data.