Operating Expenses
Total Operating Expenses
Shopify Total Operating Expenses increased by 9.6% to $1.16B in Q1 2026 compared to the prior quarter. Year-over-year, this metric grew by 20.5%, from $966.00M to $1.16B. Over 3 years (FY 2022 to FY 2025), Total Operating Expenses shows an upward trend with a 4.6% CAGR. This is a positive signal — lower values indicate better performance for this metric.
Analysis
StatementIncome Statement
SectionOperating Expenses
CategoryEfficiency
SignalLower is better
VolatilityStable
First reportedQ1 2022
Last reportedQ1 2026May 5, 2026
How to read this metric
An increase faster than revenue growth suggests declining operating margins, while slower growth indicates effective cost control.
Detailed definition
Total operating expenses represent the sum of all costs incurred to operate the business, excluding the cost of goods so...
Peer comparison
Used to calculate operating margin; peers in the healthcare sector monitor this closely to manage profitability against R&D requirements.
Metric ID:
total_operating_expensesHistorical 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 | $894.00M | $894.00M | $894.00M | $894.00M | $1.23B | $1.23B | $1.23B | $1.23B | $871.00M | $804.00M | $835.00M | $887.00M | $966.00M | $1.01B | $1.05B | $1.06B | $1.16B |
| QoQ Change | — | +0.0% | +0.0% | +0.0% | +37.9% | +0.0% | +0.0% | +0.0% | -29.4% | -7.7% | +3.9% | +6.2% | +8.9% | +4.7% | +3.7% | +1.3% | +9.6% |
| YoY Change | — | — | — | — | +37.9% | +37.9% | +37.9% | +37.9% | -29.4% | -34.8% | -32.3% | -28.1% | +10.9% | +25.7% | +25.5% | +19.7% | +20.5% |
Range$804.00M – $1.23B
CAGR+6.8%
Avg YoY Growth+10.0%
Median YoY Growth+20.5%
Current Streak7 quarters growth
Total Operating Expenses at Other Companies
Frequently Asked Questions
- What is Shopify's total operating expenses?
- Shopify (SHOP) reported total operating expenses of $1.16B in Q1 2026.
- How has Shopify's total operating expenses changed year-over-year?
- Shopify's total operating expenses increased by 20.5% year-over-year, from $966.00M to $1.16B.
- What is the long-term trend for Shopify's total operating expenses?
- Over 3 years (2022 to 2025), Shopify's total operating expenses has grown at a 4.6% compound annual growth rate (CAGR), from $3.58B to $4.09B.
- What does total operating expenses mean?
- The total cost of running the business, including all non-production expenses.