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Shopify SHOP Transaction and loan losses

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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 / equity-0.1×
Current ratio5.4×+1.5×

Where this comes from

Reported directly by Shopify in its filing.

Tagged under the XBRL concept shop:TransactionAndLoanLosses.

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 itemThree months ended June 30, 2026Three months ended June 30, 2025Six months ended June 30, 2026Six months ended June 30, 2025
Sales and marketing498415994820
Research and development445394882771
General and administrative136122251231
Transaction and loan losses14180257155
Total operating expenses1,2201,0112,3841,977
Income from operations488291870494
Other income (expense), net
Interest income66106141171

Item 1: Financial Statements (unaudited)

FAQ

What is Shopify's transaction and loan losses?
Shopify (SHOP) reported transaction and loan losses of $141M in Q2 2026.
How has Shopify's transaction and loan losses changed year-over-year?
Shopify's transaction and loan losses increased by 76.3% year-over-year, from $80M to $141M.
What is the long-term trend for Shopify's transaction and loan losses?
Over 3 years (2022 to 2025), Shopify's transaction and loan losses has grown at a 45.6% compound annual growth rate (CAGR), from $135M to $417M.
What does transaction and loan losses mean?
Represents the provision for losses on merchant cash advances, loans, and payment processing transactions that are deemed uncollectible. This reflects the credit risk inherent in the company's financial services offerings to merchants.

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