Operating Expenses
Shopify·Income Statement·25 metrics
Breakdown
| Metric | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 |
|---|---|---|---|---|---|---|---|---|
| Other operating expenses | 80400000000.0% | 83500000000.0% | 339700000000.0% | 96600000000.0% | 101100000000.0% | 104800000000.0% | 408700000000.0% | 116400000000.0% |
| Total operating expenses | $804.0M | $835.0M | $887.0M | $966.0M | $1.0B | $1.0B | $1.1B | $1.2B |
| Selling and marketing | $353.0M | $331.0M | $348.0M | $405.0M | $415.0M | $410.0M | $433.0M | $496.0M |
| Research and development | $349.0M | $332.0M | $351.0M | $377.0M | $394.0M | $375.0M | $390.0M | $437.0M |
| Stock Option Expense | $106.0M | $110.0M | $109.0M | $114.0M | $113.0M | $107.0M | $115.0M | $132.0M |
| Stock Option Plan Expense | $106.0M | $110.0M | $109.0M | $114.0M | $113.0M | $107.0M | $115.0M | $132.0M |
| Transaction and loan losses | $42.0M | $58.0M | $76.0M | $75.0M | $80.0M | $148.0M | $114.0M | $116.0M |
| General and administrative | $60.0M | $114.0M | $112.0M | $109.0M | $122.0M | $115.0M | $125.0M | $115.0M |
| Depreciation and amortization | $10.0M | $8.0M | $8.0M | $8.0M | $8.0M | $8.0M | $7.0M | $7.0M |
| Advertising | $136.5M | $136.5M | $136.5M | $188.3M | $188.3M | $188.3M | $188.3M | — |
| Operating Lease Cost | $4.0M | $4.0M | $4.0M | $5.8M | $5.8M | $5.8M | $5.8M | — |
| Total Lease Cost | $10.3M | $10.3M | $10.3M | $9.5M | $9.5M | $9.5M | $9.5M | — |
| Goodwill impairment | $0.0 | $0.0 | $0.0 | $0.0 | $0.0 | $0.0 | $0.0 | — |
| Operating Lease Cost | $4.0M | $4.0M | $4.0M | $5.8M | $5.8M | $5.8M | $5.8M | — |
| Total Lease Cost | $10.3M | $10.3M | $10.3M | $9.5M | $9.5M | $9.5M | $9.5M | — |
| Lease Cost | $10.3M | $10.3M | $10.3M | $9.5M | $9.5M | $9.5M | $9.5M | — |
| Operating Lease Cost | $4.0M | $4.0M | $4.0M | $5.8M | $5.8M | $5.8M | $5.8M | — |
| Variable Lease Cost | $6.3M | $6.3M | $6.3M | $3.8M | $3.8M | $3.8M | $3.8M | — |
| Occupancy and equipment | $4.0M | $4.0M | $4.0M | $5.8M | $5.8M | $5.8M | $5.8M | — |
| Impairment on sales of Shopify's logistics businesses | $0.0 | $0.0 | $0.0 | $0.0 | $0.0 | $0.0 | $0.0 | — |
| Variable Lease Expense | $6.3M | $6.3M | $6.3M | $3.8M | $3.8M | $3.8M | $3.8M | — |
| Variable Lease Cost | $6.3M | $6.3M | $6.3M | $3.8M | $3.8M | $3.8M | $3.8M | — |
| Lease Costs | $10.3M | $10.3M | $10.3M | $9.5M | $9.5M | $9.5M | $9.5M | — |
| Operating Lease Cost | $4.0M | $4.0M | $4.0M | $5.8M | $5.8M | $5.8M | $5.8M | — |
| Variable Lease Cost | $6.3M | $6.3M | $6.3M | $3.8M | $3.8M | $3.8M | $3.8M | — |