Shopify (SHOP) operating expenses was $4.1B in FY2025 (+20% YoY). The tables below show the complete quarterly and annual operating expenses history, sourced from SEC EDGAR 10-K and 10-Q filings.
Annual Operating Expenses
Fiscal Year
Operating Expenses
YoY
2025
$4.1B
+20%
2024
$3.4B
-31%
2023
$4.9B
+38%
2022
$3.6B
Recent Quarterly Operating Expenses
Quarter
Operating Expenses
Q2 2026
$1.2B
Q1 2026
$1.2B
Q4 2025
$1.1B
Q3 2025
$1.0B
Q2 2025
$1.0B
Q1 2025
$966M
Q4 2024
$887M
Q3 2024
$835M
Q2 2024
$804M
Q1 2024
$871M
Source: SHOP on EDGAR. Data from SEC EDGAR 10-K and 10-Q filings. Updated quarterly.