What is Shopify's advertising?

Shopify (SHOP) reported advertising of $188.25M in Q4 2025.

How has Shopify's advertising changed year-over-year?

Shopify's advertising increased by 37.9% year-over-year, from $136.50M to $188.25M.

What is the long-term trend for Shopify's advertising?

Over 3 years (2022 to 2025), Shopify's advertising has grown at a 14.2% compound annual growth rate (CAGR), from $505.00M to $753.00M.

What does advertising mean?

The total money spent on marketing and advertising to attract customers.

Operating Expenses

Advertising

Shopify Advertising remained flat by 0.0% to $188.25M in Q4 2025 compared to the prior quarter. Year-over-year, this metric grew by 37.9%, from $136.50M to $188.25M. Over 3 years (FY 2022 to FY 2025), Advertising shows an upward trend with a 14.2% CAGR.

Analysis

StatementIncome Statement

SectionOperating Expenses

CategoryGrowth

SignalContext dependent

VolatilityModerate

First reportedQ1 2013

Last reportedQ4 2024

How to read this metric

Higher spending is often required for growth, but excessive spending relative to revenue may indicate diminishing returns.

Detailed definition

The total expenditure dedicated to marketing, promotional campaigns, and brand awareness initiatives. This is a discreti...

Peer comparison

Standard across consumer-facing industries; comparable as a percentage of revenue.

Metric ID: is_advertising

Historical Data

4 years

	FY'22	FY'23	FY'24	FY'25
Value	$505.00M	$497.00M	$546.00M	$753.00M
YoY Change	—	-1.6%	+9.9%	+37.9%

Range$497.00M – $753.00M

CAGR+14.2%

Avg YoY Growth+15.4%

Median YoY Growth+9.9%

Current Streak2 years growth

Frequently Asked Questions

What is Shopify's advertising?: Shopify (SHOP) reported advertising of $188.25M in Q4 2025.
How has Shopify's advertising changed year-over-year?: Shopify's advertising increased by 37.9% year-over-year, from $136.50M to $188.25M.
What is the long-term trend for Shopify's advertising?: Over 3 years (2022 to 2025), Shopify's advertising has grown at a 14.2% compound annual growth rate (CAGR), from $505.00M to $753.00M.
What does advertising mean?: The total money spent on marketing and advertising to attract customers.