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Shopify

Logo: [[:w:|]], Public domain, via Wikimedia Commons6

Canadian e-commerce company

Shopify Inc. is a Canadian multinational e-commerce company headquartered in Ottawa, Ontario, that operates a cloud e-commerce management platform (CEMP) for retail point-of-sale systems. The company has over five million customers and processed US$292.3 billion in transactions in 2024, of which 57% was in the United States. Major customers include Tesla, LVMH, Nestlé, PepsiCo, AB InBev, Kraft Heinz, Lindt, Whole Foods Market, Red Bull, and Hyatt.3 It was founded by Tobias Lütke.1 It employed 8,300 people in 2023.1 Its revenue was $3.2 billion in 2021.1 Wikipedia text CC BY-SA 4.0

$169.41 down 8.73 (4.90%)Price as of Oct 16, 2026 at 19:58 UTC

Last updated Oct 21, 2026.

Overview

$11.6BRevenue, fiscal 20257
$1.2BNet income, fiscal 20257
2006Founded1

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  • TickerSHOP on Nasdaq1
  • Industrye-commerce, online marketplace1
  • HeadquartersOttawa1
  • Websitewww.shopify.com
  • Legal formcorporation1
  • Listed onNew York Stock Exchange (SHOP), Toronto Stock Exchange (SHOP)1
  • Incorporated inCanada (Federal Level)8
  • Business address151 O'Connor Street, Ground Floor, Ottawa, K2P2L88
  • Filer categoryLarge accelerated filer8
  • LEI549300HGQ43STJLLP8084
  • StatusActive4
  • LEI statusIssued and current4
  • Registered address151 O'Connor Street, K2P 2L8 Ottawa, Canada4
  • Registered withCorporations Canada, 426160-74

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Shopify Inc. is a Canadian multinational e-commerce company headquartered in Ottawa, Ontario, that operates a cloud e-commerce management platform (CEMP) for retail point-of-sale systems. The company has over five million customers and processed US$292.3 billion in transactions in 2024, of which 57% was in the United States. Major customers include Tesla, LVMH, Nestlé, PepsiCo, AB InBev, Kraft Heinz, Lindt, Whole Foods Market, Red Bull, and Hyatt.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

48.1%Gross margin7
12.7%Operating margin7
10.7%Net margin7
30.1%Revenue growth, 20257
9.1%Return on equity7
$2.0BFree cash flow7

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Service brought in 76% of the revenue Shopify broke down this way in fiscal 2025.

  1. Service$8.8B776%up 35% from 2024
  2. Subscription and Circulation$2.8B724%up 17% from 2024
Products and services by year
Products and services202320242025
Service$5.2B$6.5B$8.8B
Subscription and Circulation$1.8B$2.4B$2.8B

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue52¢$6.0B
  • Research and development13¢$1.5B
  • Other costs22¢$2.5B
  • Income tax2¢$278.0M
  • Profit11¢$1.2B

Out of $11.6B in revenue.7

Where each dollar of operating cash went, fiscal 2025

  • Capital spending1¢$26.0M
  • Kept or used elsewhere99¢$2.0B

Out of $2.0B of cash from operations.7

Financial statements

Revenue11121314157$11.6B in 2025+977% since 2018
0$5.0B$10.0B$15.0B2018: $1.1B$1.1B20182019: $1.6B$1.6B2019+47%2020: $2.9B$2.9B2020+86%2021: $4.6B$4.6B2021+57%2022: $5.6B$5.6B2022+21%2023: $7.1B$7.1B2023+26%2024: $8.9B$8.9B2024+26%2025: $11.6B$11.6B2025+30%
Gross profit11121314167$5.6B in 2025+832% since 2018
0$2.0B$4.0B$6.0B2018: $596.3M$596.3M20182019: $865.6M$865.6M2019+45%2020: $1.5B$1.5B2020+78%2021: $2.5B$2.5B2021+61%2022: $2.8B$2.8B2022+11%2023: $3.5B$3.5B2023+28%2024: $4.5B$4.5B2024+27%2025: $5.6B$5.6B2025+24%
Operating income11121314167$1.5B in 2025
-$2.0B-$1.0B0$1.0B$2.0B2018: -$91.9M-$91.9M20182019: -$141.1M-$141.1M2019+54%2020: $90.2M$90.2M20202021: $268.6M$268.6M2021+198%2022: -$822.0M-$822.0M20222023: -$1.4B-$1.4B2023+73%2024: $1.1B$1.1B20242025: $1.5B$1.5B2025+37%
Net income11121314167$1.2B in 2025
-$4.0B-$2.0B0$2.0B$4.0B2018: -$64.6M-$64.6M20182019: -$124.8M-$124.8M2019+93%2020: $319.5M$319.5M20202021: $2.9B$2.9B2021+812%2022: -$3.5B-$3.5B20222023: $132.0M$132.0M20232024: $2.0B$2.0B2024+1430%2025: $1.2B$1.2B2025−39%

Every line of the income statement as filed: the last 3 fiscal years, latest first.7

Period ending2025-12-312024-12-312023-12-31
Revenues$11.6B$8.9B$7.1B
Cost of revenues$6.0B$4.4B$3.5B
Gross profit$5.6B$4.5B$3.5B
Sales and marketing$1.7B$1.4B$1.2B
Research and development$1.5B$1.4B$1.7B
General and administrative$471.0M$410.0M$491.0M
Transaction and loan losses$417.0M$227.0M$152.0M
Impairment on sales of Shopify's logistics businesses$0$0$1.3B
Total operating expenses$4.1B$3.4B$4.9B
Income (loss) from operations$1.5B$1.1B-$1.4B
Interest income$331.0M$308.0M$241.0M
Net realized gain (loss) on equity and other investments$33.0M$3.0M-$5.0M
Net unrealized (loss) gain on equity and other investments-$186.0M$988.0M$1.4B
Net loss on equity method investment-$40.0M-$138.0M-$58.0M
Realized loss on embedded derivative-$123.0M$0$0
Foreign exchange gain (loss)$26.0M-$8.0M$1.0M
Total other income, net$41.0M$1.2B$1.6B
Income before income taxes$1.5B$2.2B$185.0M
Provision for income taxes-$278.0M-$209.0M-$53.0M
Net income$1.2B$2.0B$132.0M
Basic (in dollars per share)$0.95$1.57$0.10
Diluted (in dollars per share)$0.94$1.55$0.10
Basic (in shares)1.3B shares1.3B shares1.3B shares
Diluted (in shares)1.3B shares1.3B shares1.3B shares
Unrealized gain (loss) on cash flow hedges$15.0M-$19.0M$20.0M
Tax effect on unrealized gain (loss) on cash flow hedges-$4.0M$5.0M$0
Total other comprehensive income (loss)$11.0M-$14.0M$20.0M
Comprehensive income$1.2B$2.0B$152.0M

Compare Shopify with another company

Corporate structure

Shopify sits at the top of its group. 8 entities, 5 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Shopify

  • BlackRock Filed SCHEDULE 13G on Shopify, latest Jul 30, 2026 (3 filings since Feb 4, 2025)
  • BAILLIE GIFFORD & CO Filed SCHEDULE 13G/A on Shopify, latest Feb 12, 2025 (5 filings since Jan 19, 2023)
  • Tobias Lutke Filed SC 13G/A on Shopify, latest Feb 13, 2024 (3 filings since Feb 11, 2022)
  • Capital Research Global Investors Filed SC 13G/A on Shopify, latest Feb 9, 2024 (2 filings since Feb 13, 2023)
  • Morgan Stanley Filed SC 13G/A on Shopify, latest Dec 11, 2023 (2 filings since Feb 10, 2023)
  • Capital World Investors Filed SC 13G/A on Shopify, latest Feb 11, 2022
  • FMR LLC Filed SC 13G/A on Shopify, latest Feb 9, 2022
  • Shopify Ottawa, Ontario, Canada
    • Oberlo Subsidiary
    • Affirm Stake · Wilmington, Delaware, United States
    • Global-E Online Ltd. Stake · L3
    • Klaviyo Stake · Boston
    • SHOPIFY COMMERCE SINGAPORE PTE. LTD. Subsidiary · Singapore, Singapore
    • Shopify Holdings (USA) 2 Inc. Subsidiary · Delaware, United States
    • Shopify International Limited Subsidiary · Ireland

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; subsidiaries, stakes and holdings from Wikidata (CC0); major holders from Schedules 13D and 13G; stakes of 5% or more it reported on Schedules 13D and 13G (3 companies). Each entity in the chart links to its source.

What it owns

What Shopify reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$228.0M7 Dec 31, 2025$217.0M7 Dec 31, 2024+5.1%
Accumulated depreciation$175.0M7 Dec 31, 2025$170.0M7 Dec 31, 2024+2.9%
Property and equipment, net$53.0M7 Dec 31, 2025$47.0M7 Dec 31, 2024+12.8%
Operating-lease assets (leased space)$88.0M7 Dec 31, 2025$93.0M7 Dec 31, 2024−5.4%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$1.5B7 Dec 31, 2025$1.5B7 Dec 31, 2024+3.1%
Marketable securities, current$4.2B7 Dec 31, 2025$4.0B7 Dec 31, 2024+6.3%
Marketable securities, non-current$975.0M7 Dec 31, 2025$709.0M7 Dec 31, 2024+37.5%
Stakes in other companies (equity method)$602.0M7 Dec 31, 2025$642.0M7 Dec 31, 2024−6.2%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$491.0M7 Dec 31, 2025$452.0M7 Dec 31, 2024+8.6%
Intangible assets, net (excluding goodwill)$30.0M7 Dec 31, 2025$22.0M7 Dec 31, 2024+36.4%
Accumulated amortization$82.0M7 Dec 31, 2025$69.0M7 Dec 31, 2024+18.8%
Finite-lived intangibles, net$19.0M7 Dec 31, 2025$11.0M16 Dec 31, 2024+72.7%

Inventory

ItemLatestA year beforeChange
Inventory, total$21.0M7 Dec 31, 2025$26.0M7 Dec 31, 2024−19.2%

Properties, in its own words

We do not own any real property. We believe that our current facilities are adequate to meet our current needs and we expect to continue to adapt our facilities, as needed.

Item 2 of the 10-K filed Feb 11, 2026.21

The story

Founded by Tobias Lütke in 2006.1

2006: Founding

Shopify was founded in 2006 by friends Tobias Lütke, Daniel Weinand and Scott Lake after launching Snowdevil, an online store for snowboarding equipment, in 2004. Dissatisfied with the existing e-commerce products on the market, Lütke, a computer programmer by trade, instead built his own.

Lütke used the open source web application framework Ruby on Rails to build Snowdevil's online store and launched it after two months of development. The Snowdevil founders launched the platform as Shopify in June 2006. Shopify created an open-source template language called Liquid, which is written in Ruby and has been used since 2006.

In June 2009, Shopify launched an application programming interface (API) platform and App Store. The API allows developers to create applications for Shopify online stores and then sell them on the Shopify App Store.

2010s

In January 2010, Shopify started its Build-A-Business competition, in which participants create a business using its commerce platform. The winners of the competition received cash prizes and mentorship from entrepreneurs, such as Richard Branson, Eric Ries and others. In April of that year, Shopify launched a free mobile app on the Apple App Store. The app allows Shopify store owners to view and manage their stores from iOS mobile devices.

In December 2010, Shopify raised $7 million from a series A round from Bessemer Venture Partners, FirstMark Capital, and Felicis Ventures at a $20 million pre-money valuation. At that time, the company had an annualized transaction value of $132 million. In October 2011, it raised $15 million in a Series B round.

In August 2013, Shopify launched Shopify Payments in partnership with Stripe. Shopify Payments allows merchants to accept payments without requiring a third-party payment gateway. The company also announced the launch of a point of sale system to enable in-person sales in addition to online. The company received $100 million in Series C funding in December 2013. Shopify earned $105 million in revenue in 2014, twice as much as it raised the previous year. In February 2014, Shopify released "Shopify Plus" for large e-commerce businesses seeking access to additional features and support.

Shopify went public via an initial public offering on May 21, 2015, raising more than $131 million. In September 2015, Amazon.com closed its Amazon Webstore service for merchants and selected Shopify as the preferred migration provider.

In April 2016, Shopify announced Shopify Capital, a cash advance product. Shopify Capital was initially piloted to merchants within the US and allowed merchants to receive an advance on future earnings processed through its payment gateway. Since its launch in 2016, Shopify Capital has provided more than $5.1 billion in funding to Shopify merchants, with a maximum advance of $2 million. On June 7, 2016, Shopify launched its Shopify Plus Partners Program, to help agencies connect with evolving businesses in ecommerce space. On October 3, 2016, Shopify acquired Boltmade. In November 2016, Shopify partnered with Paystack which allowed Nigerian online retailers to accept payments from customers around the world. On November 22, 2016, Shopify launched Frenzy, a mobile app that improves flash sales.

Read the full text

In January 2017, Shopify announced integration with Amazon that would allow merchants to sell on Amazon from their Shopify stores. In April 2017, Shopify introduced its Chip & Swipe Reader, a Bluetooth enabled debit and credit card reader for brick and mortar retail purchases. The company has since released additional technology for brick-and-mortar retailers, including a point-of-sale system with a Dock and Retail Stand similar to that offered by Square, and a tappable chip card reader.

Shopify announced a one-click accelerated checkout feature called Shopify Pay in April 2017 as an exclusive feature for merchants using Shopify Payments as their payment processor. Customers can save their shipping and payment information for future purchases from all participating Shopify stores. In November 2017, Shopify announced Arrive, a mobile application to help customers track packages from both Shopify merchants and other e-commerce websites.

In September 2018, Shopify announced plans to expand its office space in Toronto's King West neighborhood in 2022 as part of "The Well" complex, jointly owned by Allied Properties REIT and RioCan REIT. In October 2018, Shopify opened its first flagship, a physical space for business owners in Los Angeles. The space offered educational classes, coworking space, a "genius bar" for companies that use Shopify software, and workshops. Online cannabis sales in Ontario, Canada, used Shopify's software when the drug was legalized in October 2018. Shopify's software is also used for in-person cannabis sales in Ontario since becoming legal in 2019.

In January 2019, Shopify announced the launch of Shopify Studios, a full-service television and film content and production house. On March 22, 2019, Shopify and email marketing platform Mailchimp ended an integration agreement over disputes involving customer privacy and data collection. In April 2019, Shopify announced an integration with Snapchat to allow Shopify merchants to buy and manage Snapchat Story ads directly on the Shopify platform. The company had previously secured similar integration partnerships with Facebook and Google. On August 14, 2019, Shopify launched Shopify Chat, a new native chat function that allows merchants to have real-time conversations with customers visiting Shopify stores online.

2020s

In January 2020, the company announced plans to hire in Vancouver, Canada. Additionally, the effects of the COVID-19 pandemic contributed to lifting stock prices. On February 21, 2020, Shopify announced plans to join the Diem Association, known as the Libra Association at the time. Also that month, Shopify Pay was rebranded as Shop Pay. In April, Arrive was rebranded as Shop, combining both customer-facing features under a single brand. In May, during the COVID-19 pandemic, Shopify announced it would shift most of its global workforce to permanent remote work. It was reported that Shopify's valuation would likely rise on the back of options it had in the company Affirm that was expecting to go public shortly. In November 2020, Shopify announced a partnership with Alipay to support merchants with cross-border payments. Shopify also provided the opportunity for users to connect Alibaba and AliExpress to Shopify through an Alibaba Dropshipping app that could be purchased through the Shopify App Store. Multiple applications launched between 2021 and 2024 allowed customers to connect their Shopify store to their Alibaba account and then import and publish their products. The integration automatically syncs inventory and orders between both platforms so that Alibaba vendors can ship directly to dropshipping customers.As a result of Affirm's January 13, 2021 IPO, Shopify's 8% stake in Affirm was worth $2 billion. About half of Shopify's C-level executives left the company in early 2021. On June 29, 2021, Shopify removed the 20% revenue share for app developers that make less than US$1 million per year.

On January 18, 2022, Shopify announced a partnership with JD.com to let U.S. merchants expand their operations in China, listing their products on JD's cross-border e-commerce platform JD Worldwide. On March 22, 2022, Shopify introduced Linkpop, a product to create a branded, social marketplace through which merchants can advertise and market their products via links to be added on social media channels. The following month, Shopify, Alphabet Inc., Meta Platforms, McKinsey & Company, and Stripe, Inc. announced a $925 million advance market commitment of carbon dioxide removal (CDR) from companies that are developing CDR technology over the next 9 years.

In June 2022, Shopify partnered with Twitter. As a part of the deal, Twitter announced that it would launch a sales channel app for all of Shopify's U.S. merchants through its app store. Shopify also partnered with PayPal to offer Shopify Payments to merchants in France. On July 26, 2022, Lütke announced immediate layoffs totalling roughly 10 percent of its workforce. In a message to employees, the CEO and founder said the company's planning on growth rates continuing on the trajectory of the past two years "didn't pay off" and forced the company to downsize. In August 2022, Shopify announced it was making e-commerce marketing automation platform, Klaviyo, the recommended email solution partner for its Shopify Plus merchant platform, with a US$100 million strategic investment into the company.

In May 2023, Shopify laid off approximately 20% of its workforce and sold Shopify Logistics, its in-house logistics arm, to Flexport, which subsequently became the preferred logistics partner for the e-commerce platform.

On March 18, 2025, Shopify announced that it will transfer its U.S. listing from the NYSE to the Nasdaq Global Select Market. Shopify began trading as a Nasdaq-listed security on March 31, and became a component of the Nasdaq-100 index on May 19 at the stock market open.

On December 1, 2025, Shopify ended the trading day down 5.9% as some business owners were unable to log into their administrative portals and process retail sales on Shopify's point of sale.

In January 2026, Shopify and Google announced the Universal Commerce Protocol (UCP), an open standard enabling AI agents to discover products and complete transactions with merchants.

In May 2026, both Cathie Wood and Thrive Capital announced nine figure investments into Shopify.

Position on U.S.-Canada tariffs and Canadian retaliation

In 2025, Shopify founder and CEO Tobias Lütke criticized the federal Canadian government for its decision to impose retaliatory tariffs on the United States after President Donald Trump enacted 25% tariffs on Canadian goods. Lütke expressed disappointment with Trump's tariffs decision, but added, "Trump believes that Canada has not held its side of the bargain, and he set terms to prove that we still work together: get the borders under control and crack down on fentanyl dens." Shopify chief operating officer Kaz Nejatian similarly criticized Canadian policies, saying "Canada has turned a blind eye to being used as a training ground for foreign countries, gangs and terrorist groups."

In February 2026, Shopify reported Q4 2025 revenue of $3.67 billion, a 31% year-over-year increase, and full-year 2025 revenue of $11.56 billion, up 30% from 2024, driven by growth in B2B sales and expanded AI commerce tools. The company also announced a $2 billion share buyback program.

From Wikipedia’s article on Shopify, shared under CC BY-SA 4.0.9

Leadership

Who has led Shopify, and when. Pick a name to see everywhere that person has worked.

Products and brands

Technology

Shopify was initially built on Ruby on Rails in 2004, using a single MySQL instance. In 2014, Shopify introduced sharding to distribute Shopify to multiple databases. Over the years, Shopify later moved to fully isolated instances.

Shopify maintains Hydrogen, an open-source headless JavaScript stack created in 2021, for its client-facing storefront applications. Developers are able to deploy their Hydrogen applications to Oxygen, Shopify's managed hosting and content delivery network. Hydrogen is built on top of the React library for client-side JavaScript, and Remix for its server-side routing capabilities.

In 2025, Shopify announced that over the last five years it had migrated all of its apps to React Native so that the same code could be employed for all client platforms. In their 2026 earnings call Shopify mentioned that their new AI search features is responsible for improving shopping conversion and boosting sales.

Shopify App Store

Shopify launched an app store on June 2, 2009. By 2024, the app store had over 10,000 apps available. As of 2021, a typical Shopify merchant used six apps to manage their business and, in 2020, Shopify app partners collectively earned over $230 million on the platform.

Read the full text

In 2021, Shopify announced that it would cut its commission on the first million dollars earned by developers in its app store to 0% following similar moves by Apple, Google, and Amazon. In 2022, Shopify partnered with Twitter to allow merchants to sell products via those social media apps. This followed a similar offering with TikTok in 2020. TikTok discontinued this service in 2023.

In 2016, Shopify acquired Kit CRM, an app designed to help merchants manage their stores. Klaviyo, the public company providing a marketing automation platform, was originally launched on the Shopify app store in 2012 and received a $100 million strategic investment from Shopify in 2022.

From Wikipedia’s article on Shopify, shared under CC BY-SA 4.0.9

Subsidiaries and ownership

Subsidiaries

Subsidiaries (Exhibit 21)

  • Shopify Commerce Singapore Pte. Ltd. Singapore10
  • Shopify Holdings (USA) 2 Inc. Delaware10
  • Shopify International Limited Ireland10
  • Shopify LLC Delaware10

From Wikidata.1 The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Acquisitions

In February 2012, Shopify acquired Select Start Studios Inc ("S3"), a mobile software developer, along with 20 of the company's mobile engineers and designers. In August 2013, Shopify acquired Jet Cooper, a 25-person design studio based in Toronto.

On December 5, 2016, Shopify acquired Toronto-based mobile product development studio Tiny Hearts. The Tiny Hearts building has been turned into a Shopify research and development office.

In May 2019, Shopify acquired Handshake, a business-to-business e-commerce platform for wholesale goods. The Handshake team was integrated into Shopify Plus, and Handshake founder and CEO Glen Coates was made Director of Product for Shopify Plus. In June 2019, Shopify announced that it would launch its Fulfilment Network. The service promises to handle shipping logistics for merchants and will compete with an established leader, Amazon FBA. Shopify Fulfillment Network will be available to qualifying U.S. merchants in select states. On September 9, 2019, Shopify announced the acquisition of 6 River Systems, a Massachusetts-based company that makes warehouse robots. The acquisition was finalized in October, resulting in a cash-and-share deal worth US$450 million.

On June 11, 2021, Shopify announced its acquisition of Primer, an AR app on the App Store that allows users to preview home improvement items digitally. On April 11, 2022, Shopify announced its acquisition of Dovetale, an influencer marketing startup from New York. In October, the company acquired Remix, a full-stack TypeScript framework that provides "snappy page loads and instant transitions".

Read the full text

On June 3, 2024, Shopify announced its acquisition of Checkout Blocks, an app on its App Store "that enables merchants to unlock customized extensibility" with no-code customizations in checkout. Also in June 2024, Shopify acquired business communication startup Threads for an undisclosed amount of money.

From Wikipedia’s article on Shopify, shared under CC BY-SA 4.0.9

Employees over time

  • 20238,3001
  • 202110,0001

Timeline

  1. Aug 5, 20268-K Results of operations22
  2. Jul 2, 20268-K Executive or director change23
  3. Jun 16, 20268-K Shareholder vote; Other events24
  4. Jun 2, 20268-K Regulation FD disclosure25
  5. May 8, 20268-K Other events26
  6. May 5, 20268-K Results of operations27
  7. Feb 11, 20268-K Results of operations; Regulation FD disclosure28
  8. Dec 2, 20258-K Other events29
  9. Nov 4, 20258-K Results of operations30
  10. Oct 9, 20258-K Executive or director change31
  11. Sep 10, 20258-K Executive or director change32
  12. Aug 6, 20258-K Results of operations33
  13. 2015Went public Listed on Toronto Stock Exchange1
  14. 2015Went public Listed on NYSE1
  15. 2006Founded Founded1

Calendar

Coming up

  1. Nov 3, 2026 · Before the openReports results for the quarter ending Sep/2026 A year earlier it reported $0.27 a share, on Nov 4, 2025.34

When it reported results

  1. Aug 5, 2026Reported quarterly or annual results22
  2. May 5, 2026Reported quarterly or annual results27
  3. Feb 11, 2026Reported quarterly or annual results28
  4. Nov 4, 2025Reported quarterly or annual results30
  5. Aug 6, 2025Reported quarterly or annual results33
  6. May 8, 2025Reported quarterly or annual results35
  7. Feb 11, 2025Reported quarterly or annual results36

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

277 filings to the SEC since October 2021: 7 annual reports, 5 quarterly reports, 17 major events, 17 large holders, 231 other. The latest 20:

  1. Sep 25, 2026144 EDGAR
  2. Sep 18, 2026144 EDGAR
  3. Sep 18, 2026144 EDGAR
  4. Sep 18, 2026144 EDGAR
  5. Sep 14, 2026144 EDGAR
  6. Sep 4, 2026144 EDGAR
  7. Aug 27, 2026144 EDGAR
  8. Aug 7, 2026144 EDGAR
  9. Aug 6, 2026144 EDGAR
  10. Aug 5, 2026144 EDGAR
  11. Aug 5, 202610-Q EDGAR
  12. Aug 5, 20268-K EDGAR
  13. Jul 30, 2026SCHEDULE 13G EDGAR
  14. Jul 28, 2026144 EDGAR
  15. Jul 10, 2026144 EDGAR
  16. Jul 2, 20268-K EDGAR
  17. Jun 30, 2026144 EDGAR
  18. Jun 22, 2026144 EDGAR
  19. Jun 22, 2026144 EDGAR
  20. Jun 22, 2026144 EDGAR

The 277 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Stakes it holds

Shopify has told the SEC it owns more than 5% of 3 companies, latest first (Schedules 13D and 13G).

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Capital International Investors54,893,641$6.3B1.3%+4,833,553
Fmr LLC47,175,518$5.4B0.2%+1,341,034
Invesco Ltd.36,570,929$4.2B0.3%+191,668
Vanguard Capital Management LLC34,133,098$3.9B0.1%+397,954
Capital World Investors34,087,544$3.9B0.5%+390,700
Baillie Gifford & Co28,403,600$3.2B2.9%−618,241
Morgan Stanley25,517,034$2.9B0.2%+812,368
Royal Bank Of Canada23,534,300$2.7B0.5%+1,875,604
FIL Ltd19,275,482$2.2B1.6%+1,049,013
Norges Bank16,410,473$1.9B0.2%New
Jpmorgan Chase & Co15,220,724$1.7B0.1%−2,236,294
Geode Capital Management, LLC14,338,616$1.7B0.1%+1,428,500
Loomis Sayles & Co L P14,408,186$1.6B2.1%+4,741
Bank Of Montreal /can/13,770,055$1.6B0.6%+716,344
Wellington Management Group Llp11,852,596$1.4B0.2%+2,782,480
Bank Of America Corp /de/11,443,080$1.3B0.1%+259,095
Bamco Inc /ny/11,155,546$1.3B1.9%+6,437,316
Vanguard Fiduciary Trust Co10,862,064$1.2B0.3%+87,202
Goldman Sachs Group Inc10,154,753$1.2B0.1%+1,008,638
National Bank Of Canada /fi/10,020,663$1.1B1.0%−2,791,255
TD Asset Management Inc9,280,520$1.1B0.9%−294,101
1832 Asset Management L.P.9,079,131$1.0B1.3%−1,108,611
Canada Pension Plan Investment Board8,932,140$1.0B0.6%+619,888
Cibc World Market Inc.8,301,893$947.9M1.6%−447,406
Alliancebernstein L.P.7,814,726$927.0M0.3%−999,202

13F reports cover disclosed long positions in U.S. stocks only.

Members of Congress who traded it

28 trades disclosed by members of Congress, the latest 25. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.

DateMemberTradeAmountVs S&P sinceFiling
Feb 3, 2026Jonathan L. JacksonDemocratic, HouseSale$1,001 - $15,000−35.7%Report
Jan 30, 2026Jonathan L. JacksonDemocratic, HouseSale$50,001 - $100,000−22.7%Report
Dec 8, 2025Jonathan L. JacksonDemocratic, HouseBuy$50,001 - $100,000−1.7%Report
Oct 8, 2025Jonathan L. JacksonDemocratic, HouseBuy$1,001 - $15,000−8.8%Report
Oct 6, 2025Jonathan L. JacksonDemocratic, HouseBuy$15,001 - $50,000−7.9%Report
Jun 9, 2025Lisa C. McClainRepublican, HouseSale$1,001 - $15,000−34.7%Report
Apr 3, 2025Robert P. Bresnahan, Jr.Republican, HouseSale$1,001 - $15,000−70.2%Report
Mar 19, 2025Josh GottheimerDemocratic, HousePartial sale$1,001 - $15,000−37.4%Report
Feb 12, 2025Josh GottheimerDemocratic, HouseBuy$1,001 - $15,000+18.2%Report
Feb 3, 2025Josh GottheimerDemocratic, HouseBuy$1,001 - $15,000+24.8%Report
Dec 11, 2024Lisa C. McClainRepublican, HouseBuy$1,001 - $15,000+23.0%Report
Nov 13, 2024Josh GottheimerDemocratic, HouseBuy$1,001 - $15,000+23.8%Report
Aug 1, 2024Josh GottheimerDemocratic, HousePartial sale$1,001 - $15,000−160.6%Report
Apr 29, 2024Josh GottheimerDemocratic, HousePartial sale$1,001 - $15,000−91.7%Report
Jan 4, 2024Markwayne Mullin, SenateSale$1,001 - $15,000−74.7%Report
Dec 22, 2023Markwayne Mullin, SenatePartial sale$1,001 - $15,000−66.3%Report
Jun 26, 2023Josh GottheimerDemocratic, HouseBuy$1,001 - $15,000+99.5%Report
Jun 6, 2023Josh GottheimerDemocratic, HouseBuy$1,001 - $15,000+96.3%Report
May 1, 2023Josh GottheimerDemocratic, HousePartial sale$1,001 - $15,000−186.7%Report
Jan 31, 2023Josh GottheimerDemocratic, HouseBuy$1,001 - $15,000+167.6%Report
Jan 23, 2023Josh GottheimerDemocratic, HouseBuy$1,001 - $15,000+207.2%Report
Jan 17, 2023Josh GottheimerDemocratic, HouseBuy$1,001 - $15,000+246.5%Report
Jan 3, 2023Markwayne Mullin, SenateBuy$1,001 - $15,000+290.9%Report
Mar 16, 2021Josh GottheimerDemocratic, HouseSale$1,001 - $15,000+40.9%Report
Feb 17, 2021Josh GottheimerDemocratic, HouseBuy$1,001 - $15,000−73.1%Report

Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).

SEC filer profile

How Shopify is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARSHOPIFY INC.2
  • CIK0001594805
  • Employer ID (EIN)98-048668621
  • Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company21
  • Incorporated inCanada21
  • Fiscal year endsDecember 312
  • Industry code (SIC)7372 Services-Prepackaged Software2
  • SEC reviewing officeOffice of Technology, Division of Corporation Finance2
  • Business address151 O'Connor Street, Ground Floor, Ottawa, Ontario K2P2L8, Ontario, Canada2
  • Phone613-241-28282
  • Shares outstanding1,226,037,779 Common Class A shares; 78,073,594 Common Class B shares as of Feb 6, 202621
  • Public float$140.3B as of Jun 28, 202421
  • AuditorPricewaterhouseCoopers LLP, Ottawa, Canada PCAOB ID 271; it also attests to the company’s internal control over financial reporting21
  • On EDGAR sinceJan 10, 20142
  • Filings542 in all: 6-K (177), 144 (156), SC 13G/A (44), SC 13G (20), SUPPL (18), 8-K (17), 4 (13), 40-F (8)2
    All 42 form types

    SD (8), F-10 (7), F-X (7), S-8 (6), 10-Q (5), CORRESP (5), CT ORDER (4), UPLOAD (4), EFFECT (3), F-10/A (3), SCHEDULE 13D/A (3), SCHEDULE 13G/A (3), 10-K (2), 10-K/A (2), 3 (2), 8-A12B (2), D (2), F-1/A (2), FWP (2), S-8 POS (2), SCHEDULE 13G (2), 20-F (1), 25 (1), 305B2 (1), 424B4 (1), 6-K/A (1), CERT (1), CERTNYS (1), DRS (1), DRS/A (1), DRSLTR (1), F-1 (1), SC 13D (1), SC 13D/A (1)

  • Latest filingsAnnual report (10-K) Feb 11, 2026
    Quarterly report (10-Q) Aug 5, 2026
    Latest 8-K (8-K) Aug 5, 2026

Securities registered for trading

ClassSymbolExchange
Class A Subordinate Voting SharesSHOPThe Nasdaq Global Select Market

From the cover page of the 10-K filed Feb 11, 2026 (Section 12(b) of the Exchange Act).21

Risk factors and legal proceedings

The risks Shopify names in Item 1A of its 10-K filed Feb 11, 2026: 47 risks under these headings, as written.21

  • Risks Related to Our Operations
  • Risks Related to Personal Information, Cybersecurity and Intellectual Property
  • Risks Related to our Industry
  • Risks Related to Laws and Regulations
  • Financial Risks
  • Risks Related to Ownership of our Securities
  • Risks Related to Our Business and Industry
  • Our growth may not be sustainable and depends on our ability to attract new merchants, retain existing merchants, retain revenue from existing merchants and increase sales to both new and existing merchants.
  • Our business could be harmed if we fail to manage our growth effectively.
  • Our business is highly competitive. We may not be able to compete successfully against current and future competitors.
  • We store personal information including of our merchants and their buyers and users of our apps. If the security of this information is compromised or is otherwise accessed without authorization, our reputation may be harmed and we may be exposed to liability and loss of business.
  • Security breaches, improper access to or disclosure of our data, merchant data and buyer data other hacking and phishing attacks on our systems or other cybersecurity incidents could impact or interrupt service to our merchants, their buyers and others who use our services, harm our reputation, subject us to significant liability and adversely affect our business and financial results.
The other 42 risks
  • If we fail to improve and enhance the functionality, performance, reliability, design, security and scalability of our platform and innovate and introduce new solutions in a manner that responds to our merchants' evolving needs, our business may be adversely affected.
  • Our use of AI and machine learning may present additional risks, including risks associated with the use of AI algorithms and tools, the data sets used to train AI-powered models, the content produced by AI and the complex, developing regulatory environment.
  • The impact of worldwide economic conditions, including the resulting effect on spending by merchants or their buyers, may adversely affect our business, operating results and financial condition.
  • We currently rely on two suppliers to provide the technology we offer through Shopify Payments.
  • Our growth depends in part on the success of our strategic relationships with third parties.
  • Our limited operating history in new and developing markets and new geographic regions may increase the risk that our growth and expansion efforts will not be successful.
  • Our business is susceptible to risks associated with international operations, including international sales and the use of our platform in various countries.
  • We are dependent on the continued services and performance of our senior management and other key employees, the loss of any of whom could adversely affect our business, operating results and financial condition.
  • If we are unable to attract, retain and motivate qualified personnel or maintain and continue to evolve our corporate culture, our business will be harmed.
  • We use third-party cloud service providers to deliver our platform services. Any disruption of services from our cloud service providers could harm our business.
  • Payments processed through Shopify Payments, Shop Pay Installments or payments processed or funds managed through Shopify Balance may subject us to regulatory requirements, additional fees and other risks that could be costly and difficult to comply with or that could harm our business. These financial products may also pose the risk of fraud and expose Shopify or our merchants to additional costs or liabilities.
  • Our brand is integral to our success. If we fail to effectively maintain, promote and enhance our brand, our business and competitive position may be harmed.
  • We have incurred net losses in the past and we expect to make substantial investments in our business in the future. As such, we may be unable to maintain our profitability in the future.
  • If our software or hardware contain undetected errors or defects, our business, financial condition and results of operations could be adversely affected.
  • Evolving data protection and privacy laws and regulations, cross-border data transfer restrictions, data localization requirements and other domestic or foreign laws or regulations may limit the use and adoption of our services, expose us to liability, or otherwise adversely affect our business.
  • We have in the past made, and in the future may make, acquisitions, divestitures and investments, which could divert management’s attention, result in operating difficulties and dilution to our shareholders and otherwise disrupt our operations and adversely affect our business, operating results or financial position.
  • Shopify Capital and other financing and lending solutions are subject to additional risks relating to the availability of capital to fund merchants, the ability of our merchants to generate sales to remit receivables or make payments, general macroeconomic conditions, legal and regulatory risks and the risk of fraud.
  • We may be unable to achieve or maintain data transmission capacity.
  • We may be subject to claims by third parties of intellectual property infringement or other third party or governmental claims, litigation, disputes or other proceedings.
  • Activities of merchants or partners or the content of our merchants' shops could damage our brand, subject us to liability and harm our business and financial results.
  • Unanticipated changes in tax laws or adverse outcomes resulting from tax examinations could adversely affect our operating results and financial condition.
  • Taxing authorities may successfully assert that we should have collected or in the future should start collecting state, provincial or local business taxes, sales and use taxes or other indirect taxes on transactions by our merchants. If we are subject to liability for past or future sales by our merchants, it could harm our results of operations.
  • Our business and prospects would be harmed if changes to technologies or new versions or upgrades of operating systems and internet browsers adversely impact the process by which merchants and buyers interface with our platform and other product offerings.
  • We may be unable to obtain, maintain and protect our intellectual property rights and proprietary information or prevent third parties from making unauthorized use of our technology.
  • Our pricing decisions may fail to generate expected results and may adversely affect our ability to attract new merchants and retain existing merchants.
  • Our use of open source software could negatively affect our ability to sell our solutions and subject us to possible litigation.
  • Our operating results are subject to seasonal fluctuations.
  • Foreign exchange rate fluctuations may negatively affect our results of operations.
  • We may need to raise additional funds to pursue our growth strategy or continue our operations, and we may be unable to raise capital when needed or on acceptable terms.
  • We may not be able to utilize our loss carryforwards and tax credits, which could adversely affect our profitability.
  • Risks Related to Ownership of our Shares
  • The Founder Share has a variable number of votes, which has the effect of concentrating a degree of voting power with Tobias Lütke, that could be substantially greater than the economic interest of the shares he holds.
  • Our share capital structure has the effect of limiting the influence of holders of Class A subordinate voting shares over most corporate matters.
  • The market price of our Class A subordinate voting shares may be volatile.
  • Sales of substantial amounts of our Class A subordinate voting shares in the public market, or the perception that these sales may occur, could cause the market price of our shares to decline.
  • If we are unable to maintain an effective system of internal controls over financial reporting, our operations, financial reporting and results of operations could be adversely impacted.
  • Because we do not expect to pay any dividends on our Class A subordinate voting shares for the foreseeable future, investors may never receive a return on their investment.
  • We cannot guarantee that our share repurchase program will be fully consummated or that it will enhance long-term shareholder value.
  • As a foreign private issuer, we are exempt from certain provisions of the Exchange Act that are applicable to U.S. domestic public companies.
  • It may be difficult to enforce judgments of U.S. courts against us or our directors and executive officers in Canada, to assert U.S. securities laws claims in Canada, or to serve process on our directors and officers in Canada.
  • Our by-laws provide that any derivative actions, actions relating to breach of fiduciary duties and other matters relating to our internal affairs will presumptively be litigated in Canada, which could limit investors' ability to obtain a preferred judicial forum for disputes with us.
  • Provisions of our charter documents and certain Canadian legislation could delay or deter a change of control, limit attempts by our shareholders to replace or remove our current senior management and affect the market price of our Class A subordinate voting shares.
  • Our restated articles of incorporation permit us to issue an unlimited number of Class A subordinate voting shares and Class B restricted voting shares.

Legal proceedings

The information set forth under “Note 17 — Commitments and Contingencies — Litigation and Loss Contingencies” to the consolidated financial statements included in Part IV, Item 15 of this Annual Report on Form 10-K is incorporated herein by reference.

The opening of Item 3, Legal Proceedings.21

Sources

The numbers on this page point here. Each one links to the record it came from.

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    Yahoo FinanceSHOP quote
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  18. 18
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  20. 20
  21. 21
  22. 22
  23. 23
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  26. 26
    SEC EDGAROther events
  27. 27
  28. 28
  29. 29
    SEC EDGAROther events
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  33. 33
  34. 34
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