Shopify R&D increased by 12.1% to $437.00M in Q1 2026 compared to the prior quarter. Year-over-year, this metric grew by 15.9%, from $377.00M to $437.00M. Over 3 years (FY 2022 to FY 2025), R&D shows relatively stable performance with a 0.7% CAGR.
Analysis
StatementIncome Statement
SectionOperating Expenses
CategoryGrowth
SignalContext dependent
VolatilityModerate
First reportedQ1 2022
Last reportedQ1 2026May 5, 2026
How to read this metric
Higher spending signals a commitment to innovation and future product launches, whereas significant cuts may indicate a shift toward short-term profitability.
Detailed definition
Research and development expenses represent the costs incurred to discover new products, improve existing technologies,...
Peer comparison
Highly comparable across pharmaceutical and medical device peers, where R&D intensity is a key metric for long-term valuation.
Metric ID:
research_and_developmentHistorical Data
17 periods
| Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $375.75M | $375.75M | $375.75M | $375.75M | $432.50M | $432.50M | $432.50M | $432.50M | $335.00M | $349.00M | $332.00M | $351.00M | $377.00M | $394.00M | $375.00M | $390.00M | $437.00M |
| QoQ Change | — | +0.0% | +0.0% | +0.0% | +15.1% | +0.0% | +0.0% | +0.0% | -22.5% | +4.2% | -4.9% | +5.7% | +7.4% | +4.5% | -4.8% | +4.0% | +12.1% |
| YoY Change | — | — | — | — | +15.1% | +15.1% | +15.1% | +15.1% | -22.5% | -19.3% | -23.2% | -18.8% | +12.5% | +12.9% | +13.0% | +11.1% | +15.9% |
Range$332.00M – $437.00M
CAGR+3.8%
Avg YoY Growth+3.2%
Median YoY Growth+12.9%
Current Streak2 quarters growth
R&D at Other Companies
Frequently Asked Questions
- What is Shopify's r&d?
- Shopify (SHOP) reported r&d of $437.00M in Q1 2026.
- How has Shopify's r&d changed year-over-year?
- Shopify's r&d increased by 15.9% year-over-year, from $377.00M to $437.00M.
- What is the long-term trend for Shopify's r&d?
- Over 3 years (2022 to 2025), Shopify's r&d has grown at a 0.7% compound annual growth rate (CAGR), from $1.50B to $1.54B.
- What does r&d mean?
- The money spent on creating new products or improving existing ones to drive future growth.