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Shopify SHOP Contract Liabilities

Contract Liabilities at other companies

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AdobeADBE
$98M-14.0%
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GoDaddyGDDY
$964.1M+4.5%
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Shift4 PaymentsFOUR
$12M-23.1%
GigaCloud Technology logo
GigaCloud TechnologyGCT
$5.44M-9.1%
PAR Technology logo
PAR TechnologyPAR
$2.03M+61.3%

Other financials

Income statement

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Revenue$3.6B+33.7%
Gross profit$1.7B+31.2%
Operating income$488.0M+67.7%
Net income$1.5B+65.8%
EPS (diluted)$1.16+68.1%

Balance sheet

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Cash & equivalents$1.7B+7.4%
Total debt$178.0M-84.4%
Total equity$12.7B+4.6%
Total assets$14.5B-0.6%

Cash flow

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Operating cash flow$658.0M+53.7%
CapEx$4.0M-33.3%
Free cash flow$654.0M+55.0%

Valuation

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Market cap$187.17B-6.9%
Enterprise value$185.7B-7.4%
P/E101.6×-42.7×
P/S14.1×-7.1×

Profitability

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Gross margin47.5%-1.2pp
Operating margin14.2%+2.0pp
Net margin13.9%+3.4pp
FCF margin17.7%0.0pp

Returns & leverage

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Return on equity24.1%+8.7pp
Debt / equity0×-0.1×
Current ratio5.4×+1.5×

Where this comes from

Reported directly by Shopify in its filing.

Tagged under the XBRL concept us-gaap:ContractWithCustomerLiabilityNoncurrent.

The source filing: Shopify’s 10-Q, filed August 5, 2026.

Filed
Aug 5, 2026, 7:03 AM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001594805-26-000047
Line itemJune 30, 2026December 31, 2025
Operating lease liabilities1017
1,4601,392
Long-term liabilities
Deferred revenue7998
Operating lease liabilities168171
Deferred tax liabilities7955
326324
Contingencies (Note 8)

Item 1: Financial Statements (unaudited)

FAQ

What is Shopify's contract liabilities?
Shopify (SHOP) reported contract liabilities of $79M in Q2 2026.
How has Shopify's contract liabilities changed year-over-year?
Shopify's contract liabilities decreased by 35.8% year-over-year, from $123M to $79M.
What is the long-term trend for Shopify's contract liabilities?
Over 3 years (2022 to 2025), Shopify's contract liabilities has grown at a -28.5% compound annual growth rate (CAGR), from $268M to $98M.
What does contract liabilities mean?
Revenue collected or billed in advance of performance — deferred revenue under ASC 606 terminology, representing future revenue obligations.

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