Shopify (SHOP) r&d spend was $1.5B in FY2025 (+12% YoY). The tables below show the complete quarterly and annual r&d spend history, sourced from SEC EDGAR 10-K and 10-Q filings.
Annual R&D Spend
Fiscal Year
R&D Spend
YoY
2025
$1.5B
+12%
2024
$1.4B
-21%
2023
$1.7B
+15%
2022
$1.5B
Recent Quarterly R&D Spend
Quarter
R&D Spend
Q2 2026
$445M
Q1 2026
$437M
Q4 2025
$390M
Q3 2025
$375M
Q2 2025
$394M
Q1 2025
$377M
Q4 2024
$351M
Q3 2024
$332M
Q2 2024
$349M
Q1 2024
$335M
Q4 2023
$1.7B
Q4 2022
$1.5B
Source: SHOP on EDGAR. Data from SEC EDGAR 10-K and 10-Q filings. Updated quarterly.