Shopify SHOP Business Segments
| TTM Q1 '26 | TTM Q4 '25 | TTM Q3 '25 | TTM Q2 '25 | TTM Q1 '25 | ||
|---|---|---|---|---|---|---|
| Revenue by Product | ||||||
| Merchant solutions | $9.48B+7.7% | $8.8B+9.3% | $8.06B+7.9% | $7.46B+7.8% | $6.92B+6.0% | |
| Subscription solutions | $2.88B+4.7% | $2.75B+4.2% | $2.64B+3.5% | $2.55B+3.8% | $2.46B+4.6% | |
| Revenue by Geography | ||||||
| APAC | $1.2B+6.4% | $1.13B+6.7% | $1.06B+5.9% | $998M+6.6% | $936M+5.8% |
Chart any of these lines over time, or line them up against competitors.
Compare these in charts →Questions, answered.
- How does Shopify break its business down?
- Shopify (SHOP) reports revenue by product across 2 parts — Merchant solutions and Subscription solutions. Each is extracted from the segment footnotes and tracked over time.
- Where does Shopify's segment data come from?
- Segment breakdowns are pulled from the segment footnotes in Shopify's SEC filings (the XBRL dimensional tags), so every line ties back to a reported figure. Switch between quarterly, annual, and TTM, or open any segment for its full history.
