Cost of revenues

Name: Shopify Cost of revenues by Products & Services
Creator: OpenCapital
License: https://www.opencapital.sh/terms

Shopify·Products & Services·2 segments·Rolls up to Total Cost of Revenue

Breakdown

Segment	Q1 '25	Q2 '25	Q3 '25	Q4 '25	Q1 '26
Merchant solutions	$1.07B	$1.26B	$1.33B	$1.83B	$1.48B
Subscription solutions	$123M	$121M	$128M	$148M	$148M
Total	$1.19B	$1.38B	$1.45B	$1.98B	$1.62B

Subscription solutionsView metric

Merchant solutionsView metric