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Shopify SHOP Subscription solutions — Revenue

Other product segments

Merchant solutions
$2.78B+37.4%

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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$189.7B-5.6%
Enterprise value$188.22B-6.2%
P/E102.9×-41.3×
P/S14.3×-6.9×

Profitability

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Gross margin47.5%-1.2pp
Operating margin14.2%+2.0pp
Net margin21.7%+5.4pp
FCF margin17.7%0.0pp

Returns & leverage

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Return on equity14.9%+5.4pp
Debt / equity0×-0.1×
Current ratio5.4×+1.5×

Where this comes from

Reported directly by Shopify in its filing.

Tagged under the XBRL concept us-gaap:Revenues.

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
Revenues
Subscription solutions8026561,5521,276
Merchant solutions2,7812,0245,2013,764
3,5832,6806,7535,040
Cost of revenues
Subscription solutions163121311244
Merchant solutions1,7121,2573,1882,325
1,8751,3783,4992,569

Item 1: Financial Statements (unaudited)

FAQ

What is Shopify's subscription solutions — revenue?
Shopify (SHOP) reported subscription solutions — revenue of $802M in Q2 2026.
How has Shopify's subscription solutions — revenue changed year-over-year?
Shopify's subscription solutions — revenue increased by 22.3% year-over-year, from $656M to $802M.
What is the long-term trend for Shopify's subscription solutions — revenue?
Over 3 years (2022 to 2025), Shopify's subscription solutions — revenue has grown at a 22.7% compound annual growth rate (CAGR), from $1.49B to $2.75B.
What does subscription solutions — revenue mean?
This metric represents the total recurring revenue generated from platform access fees, software subscriptions, and related services provided to merchants. It reflects the core stability of the business model by capturing the predictable income streams from users utilizing the e-commerce platform infrastructure. Growth in this area indicates successful merchant acquisition and retention within the subscription-based ecosystem.

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