Shopify R&D increased by 4.0% to $390.00M in Q4 2025 compared to the prior quarter. Year-over-year, this metric grew by 11.1%, from $351.00M to $390.00M. Over 3 years (FY 2022 to FY 2025), R&D shows relatively stable performance with a 0.7% CAGR.
Analysis
StatementIncome Statement
SectionOperating Expenses
CategoryGrowth
SignalContext dependent
VolatilityStable
First reportedQ4 2013
Last reportedQ4 2025
How to read this metric
High spending signals a commitment to future growth and innovation, though it reduces current period earnings.
Detailed definition
Expenses related to the development of new products, services, and technologies, as well as the improvement of existing...
Peer comparison
Tech leaders often spend a significant percentage of revenue on R&D to prevent disruption by competitors.
Metric ID:
is_research_and_developmentHistorical Data
16 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $375.75M | $375.75M | $375.75M | $375.75M | $432.50M | $432.50M | $432.50M | $432.50M | $335.00M | $349.00M | $332.00M | $351.00M | $377.00M | $394.00M | $375.00M | $390.00M |
| QoQ Change | — | +0.0% | +0.0% | +0.0% | +15.1% | +0.0% | +0.0% | +0.0% | -22.5% | +4.2% | -4.9% | +5.7% | +7.4% | +4.5% | -4.8% | +4.0% |
| YoY Change | — | — | — | — | +15.1% | +15.1% | +15.1% | +15.1% | -22.5% | -19.3% | -23.2% | -18.8% | +12.5% | +12.9% | +13.0% | +11.1% |
Range$332.00M – $432.50M
CAGR+1.0%
Avg YoY Growth+2.2%
Median YoY Growth+12.7%
R&D at Other Companies
Frequently Asked Questions
- What is Shopify's r&d?
- Shopify (SHOP) reported r&d of $390.00M in Q4 2025.
- How has Shopify's r&d changed year-over-year?
- Shopify's r&d increased by 11.1% year-over-year, from $351.00M to $390.00M.
- What is the long-term trend for Shopify's r&d?
- Over 3 years (2022 to 2025), Shopify's r&d has grown at a 0.7% compound annual growth rate (CAGR), from $1.50B to $1.54B.
- What does r&d mean?
- The money spent on creating new technology and improving existing products.