Subscription solutions — Cost of revenues
Shopify Subscription solutions — Cost of revenues increased by 15.6% to $148.00M in Q4 2025 compared to the prior quarter. Year-over-year, this metric grew by 10.4%, from $134.00M to $148.00M. Over 3 years (FY 2022 to FY 2025), Subscription solutions — Cost of revenues shows an upward trend with a 16.2% CAGR. This increase may warrant attention — for this metric, lower values are generally preferred.
Analysis
How to read this metric
An increase relative to revenue may signal rising infrastructure or support costs, while a decrease relative to revenue suggests improved operational efficiency or economies of scale.
Detailed definition
This metric captures the direct costs associated with delivering subscription-based platform services, including hosting...
Peer comparison
Comparable to cost of goods sold or cost of services for SaaS companies, specifically focusing on cloud hosting and support overhead.
shop_segment_subscription_solutions_cost_of_revenuesHistorical Data
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $82.75M | $82.75M | $82.75M | $82.75M | $88.50M | $88.50M | $88.50M | $88.50M | $95.00M | $97.00M | $108.00M | $134.00M | $123.00M | $121.00M | $128.00M | $148.00M |
| QoQ Change | — | +0.0% | +0.0% | +0.0% | +6.9% | +0.0% | +0.0% | +0.0% | +7.3% | +2.1% | +11.3% | +24.1% | -8.2% | -1.6% | +5.8% | +15.6% |
| YoY Change | — | — | — | — | +6.9% | +6.9% | +6.9% | +6.9% | +7.3% | +9.6% | +22.0% | +51.4% | +29.5% | +24.7% | +18.5% | +10.4% |
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Frequently Asked Questions
- What is Shopify's subscription solutions — cost of revenues?
- Shopify (SHOP) reported subscription solutions — cost of revenues of $148.00M in Q4 2025.
- How has Shopify's subscription solutions — cost of revenues changed year-over-year?
- Shopify's subscription solutions — cost of revenues increased by 10.4% year-over-year, from $134.00M to $148.00M.
- What is the long-term trend for Shopify's subscription solutions — cost of revenues?
- Over 3 years (2022 to 2025), Shopify's subscription solutions — cost of revenues has grown at a 16.2% compound annual growth rate (CAGR), from $331.00M to $520.00M.
- What does subscription solutions — cost of revenues mean?
- The direct costs incurred to provide and maintain the subscription-based e-commerce platform services.