Current Liabilities
Deferred Revenue
Shopify Deferred Revenue increased by 7.0% to $321.00M in Q1 2026 compared to the prior quarter. Year-over-year, this metric grew by 8.8%, from $295.00M to $321.00M. Over 3 years (FY 2022 to FY 2025), Deferred Revenue shows relatively stable performance with a 0.4% CAGR. This is a positive signal — higher values indicate stronger performance for this metric.
Analysis
StatementBalance Sheet Statement
SectionCurrent Liabilities
CategoryGrowth
SignalHigher is better
VolatilityModerate
First reportedQ4 2022
Last reportedQ1 2026May 5, 2026
How to read this metric
An increase is generally positive, signaling strong future demand and cash collection, while a decrease indicates the fulfillment of obligations.
Detailed definition
This represents payments received from customers for goods or services that have not yet been delivered or performed. It...
Peer comparison
Common in subscription and long-term contract businesses; highly indicative of future revenue visibility.
Metric ID:
deferred_revenue_currentHistorical Data
11 periods
| Q4 '22 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $296.00M | $302.00M | $296.00M | $298.00M | $290.00M | $283.00M | $295.00M | $298.00M | $300.00M | $300.00M | $321.00M |
| QoQ Change | — | +2.0% | -2.0% | +0.7% | -2.7% | -2.4% | +4.2% | +1.0% | +0.7% | +0.0% | +7.0% |
| YoY Change | — | +2.0% | — | — | — | -6.3% | -0.3% | +0.0% | +3.4% | +6.0% | +8.8% |
Range$283.00M – $321.00M
CAGR+3.3%
Avg YoY Growth+2.0%
Median YoY Growth+2.0%
Current Streak5 quarters growth
Deferred Revenue at Other Companies
Frequently Asked Questions
- What is Shopify's deferred revenue?
- Shopify (SHOP) reported deferred revenue of $321.00M in Q1 2026.
- How has Shopify's deferred revenue changed year-over-year?
- Shopify's deferred revenue increased by 8.8% year-over-year, from $295.00M to $321.00M.
- What is the long-term trend for Shopify's deferred revenue?
- Over 3 years (2022 to 2025), Shopify's deferred revenue has grown at a 0.4% compound annual growth rate (CAGR), from $296.00M to $300.00M.
- What does deferred revenue mean?
- Cash received from customers for work that has not yet been completed.