Current Liabilities
Deferred Revenue
Shopify Deferred Revenue increased by 7.0% to $321M in Q1 2026 compared to the prior quarter. Year-over-year, this metric grew by 8.8%, from $295M to $321M. 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 indicates strong demand and future revenue growth, while a decrease may signal slowing sales or faster service delivery.
Detailed definition
Deferred revenue represents payments received from customers for services or products that have not yet been delivered....
Peer comparison
Highly relevant for SaaS and subscription-based businesses as a leading indicator of recurring revenue.
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 | $296M | $302M | $296M | $298M | $290M | $283M | $295M | $298M | $300M | $300M | $321M |
| 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$283M – $321M
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 $321M 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 $295M to $321M.
- 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 $296M to $300M.
- What does deferred revenue mean?
- Prepaid income for services or products that the company has not yet provided.