{ "ticker": "SHOP", "cik": "0001594805", "company": "Shopify Inc.", "business_type": "technology - commerce platform", "schema_template": "standard technology/commerce platform: revenue split into subscription solutions and merchant solutions as on the face of the statement of operations, cost of revenues, gross profit, operating expenses by function (including transaction and loan losses from the merchant lending and payments business), operating income, other income (dominated by gains and losses on equity investments), net income and per-share amounts; balance sheet centred on cash, marketable securities, merchant loans and cash advances, equity investments and debt; cash flow centred on operating cash flow, capital expenditure, free cash flow and share repurchases; plus the company's own key performance indicators, Gross Merchandise Volume (GMV) and Monthly Recurring Revenue (MRR). Shopify is an asset-light commerce software and payments platform, so a gross-margin and cash-generation frame fits it; a bank or industrial frame does not.", "reporting_currency": "USD", "converted_to_usd": false, "units": "actual US dollars (not millions); share counts in actual shares; per-share amounts in US dollars per share", "units_notes_seen": { "FY2025 10-K balance sheet": "( In US $ millions, except share amounts)", "FY2025 10-K statement of operations": "(In US $ millions, except share and per share amounts)", "FY2025 10-K statement of changes in shareholders' equity": "(In US $ millions, except share amounts)", "FY2025 10-K statement of cash flows": "(In US $ millions)", "FY2025 10-K key performance indicators table (MD&A)": "(in US $ millions)", "Q2 2026 10-Q balance sheet": "(Expressed in US $ millions, except share amounts)", "Q2 2026 10-Q statement of operations": "(Expressed in US $ millions, except share and per share amounts)", "Q2 2026 10-Q statement of changes in shareholders' equity": "(Expressed in US $ millions, except share amounts)", "Q2 2026 10-Q statement of cash flows": "(Expressed in US $ millions)", "Q2 2026 10-Q key performance indicators table (MD&A)": "(in US $ millions)" }, "adjustments": { "splits_applied": [], "adr_ratio": null, "fx": null, "note": "Shopify reports in US dollars and its Class A subordinate voting shares trade directly rather than as American depositary shares, so no currency or per-ADS conversion applies. No stock split falls within the periods in this record (fiscal 2023 through June 30, 2026), and per-share amounts are as each filing states them, so no split adjustment was made." }, "annual": [ { "label": "FY2023", "fiscal_year": 2023, "period_start": "2023-01-01", "period_end": "2023-12-31", "period_type": "fiscal year", "source_accession": "0001594805-26-000007", "income_statement": { "impairment_on_sale_of_logistics_businesses": 1340000000, "subscription_solutions_revenue": 1837000000, "merchant_solutions_revenue": 5223000000, "revenue": 7060000000, "cost_of_revenue_subscription_solutions": 354000000, "cost_of_revenue_merchant_solutions": 3191000000, "cost_of_revenue": 3545000000, "gross_profit": 3515000000, "sales_and_marketing": 1220000000, "research_and_development": 1730000000, "general_and_administrative": 491000000, "transaction_and_loan_losses": 152000000, "total_operating_expenses": 4933000000, "operating_income": -1418000000, "interest_income": 241000000, "net_unrealized_gain_loss_on_equity_and_other_investments": 1424000000, "total_other_income_expense_net": 1603000000, "pretax_income": 185000000, "provision_for_income_taxes": -53000000, "net_income": 132000000, "basic_eps": 0.1, "diluted_eps": 0.1, "basic_shares": 1281554559, "diluted_shares": 1295511385 }, "cash_flow": { "net_income": 132000000, "stock_based_compensation": 615000000, "operating_cash_flow": 944000000, "capex": -39000000, "investing_cash_flow": -1244000000, "financing_cash_flow": 60000000, "cash_and_restricted_cash_end_of_period": 1413000000, "free_cash_flow": 905000000 }, "key_metrics": { "monthly_recurring_revenue": 144000000, "gross_merchandise_volume": 235910000000 } }, { "label": "FY2024", "fiscal_year": 2024, "period_start": "2024-01-01", "period_end": "2024-12-31", "period_type": "fiscal year", "source_accession": "0001594805-26-000007", "income_statement": { "subscription_solutions_revenue": 2350000000, "merchant_solutions_revenue": 6530000000, "revenue": 8880000000, "cost_of_revenue_subscription_solutions": 434000000, "cost_of_revenue_merchant_solutions": 3974000000, "cost_of_revenue": 4408000000, "gross_profit": 4472000000, "sales_and_marketing": 1393000000, "research_and_development": 1367000000, "general_and_administrative": 410000000, "transaction_and_loan_losses": 227000000, "total_operating_expenses": 3397000000, "operating_income": 1075000000, "interest_income": 308000000, "net_unrealized_gain_loss_on_equity_and_other_investments": 988000000, "total_other_income_expense_net": 1153000000, "pretax_income": 2228000000, "provision_for_income_taxes": -209000000, "net_income": 2019000000, "basic_eps": 1.57, "diluted_eps": 1.55, "basic_shares": 1289812124, "diluted_shares": 1301509980 }, "cash_flow": { "net_income": 2019000000, "stock_based_compensation": 430000000, "operating_cash_flow": 1616000000, "capex": -19000000, "investing_cash_flow": -1586000000, "financing_cash_flow": 61000000, "cash_and_restricted_cash_end_of_period": 1498000000, "free_cash_flow": 1597000000 }, "key_metrics": { "monthly_recurring_revenue": 178000000, "gross_merchandise_volume": 292275000000 }, "balance_sheet": { "shares_outstanding": 1294580140, "cash_and_cash_equivalents": 1498000000, "marketable_securities": 3981000000, "loans_and_merchant_cash_advances_net": 1224000000, "total_current_assets": 7254000000, "long_term_investments": 709000000, "equity_and_other_investments": 4647000000, "equity_method_investment": 642000000, "goodwill": 452000000, "total_assets": 13924000000, "deferred_revenue_current": 283000000, "total_debt": 918000000, "total_current_liabilities": 1956000000, "total_long_term_liabilities": 410000000, "total_equity": 11558000000, "total_liabilities_and_equity": 13924000000, "total_liabilities": 2366000000 } }, { "label": "FY2025", "fiscal_year": 2025, "period_start": "2025-01-01", "period_end": "2025-12-31", "period_type": "fiscal year", "source_accession": "0001594805-26-000007", "income_statement": { 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"operating_cash_flow": 2033000000, "capex": -26000000, "investing_cash_flow": -1190000000, "financing_cash_flow": -811000000, "cash_and_restricted_cash_end_of_period": 1545000000, "free_cash_flow": 2007000000 }, "key_metrics": { "monthly_recurring_revenue": 205000000, "gross_merchandise_volume": 378441000000 }, "balance_sheet": { "shares_outstanding": 1303904301, "cash_and_cash_equivalents": 1545000000, "marketable_securities": 4233000000, "loans_and_merchant_cash_advances_net": 1784000000, "total_current_assets": 8296000000, "long_term_investments": 975000000, "equity_and_other_investments": 4582000000, "equity_method_investment": 602000000, "goodwill": 491000000, "total_assets": 15189000000, "deferred_revenue_current": 300000000, "total_debt": 0, "total_current_liabilities": 1392000000, "total_long_term_liabilities": 324000000, "total_equity": 13473000000, "total_liabilities_and_equity": 15189000000, "total_liabilities": 1716000000 } } ], "quarterly": [ { "label": "Q2 2025", "fiscal_year": 2025, "fiscal_quarter": 2, "period_start": "2025-04-01", "period_end": "2025-06-30", "period_type": "three months", "source_accession": "0001594805-26-000047", "income_statement": { "subscription_solutions_revenue": 656000000, "merchant_solutions_revenue": 2024000000, "revenue": 2680000000, "cost_of_revenue_subscription_solutions": 121000000, "cost_of_revenue_merchant_solutions": 1257000000, "cost_of_revenue": 1378000000, "gross_profit": 1302000000, "sales_and_marketing": 415000000, "research_and_development": 394000000, "general_and_administrative": 122000000, "transaction_and_loan_losses": 80000000, "total_operating_expenses": 1011000000, "operating_income": 291000000, "interest_income": 106000000, "net_unrealized_gain_loss_on_equity_and_other_investments": 681000000, "total_other_income_expense_net": 788000000, "pretax_income": 1079000000, "provision_for_income_taxes": -173000000, "net_income": 906000000, "basic_eps": 0.7, "diluted_eps": 0.69, "basic_shares": 1297746050, "diluted_shares": 1308993838, "net_realized_gain_on_equity_and_other_investments": 1000000, "net_loss_on_equity_method_investment": -24000000, "foreign_exchange_gain_loss": 24000000 }, "cash_flow": { "net_income": 906000000, "stock_based_compensation": 113000000, "operating_cash_flow": 428000000, "capex": -6000000, "investing_cash_flow": -252000000, "financing_cash_flow": 44000000, "cash_and_restricted_cash_end_of_period": 1542000000, "share_repurchases": 0, "free_cash_flow": 422000000 }, "key_metrics": { "monthly_recurring_revenue": 185000000, "gross_merchandise_volume": 87837000000 } }, { "label": "Q2 2026", "fiscal_year": 2026, "fiscal_quarter": 2, "period_start": "2026-04-01", "period_end": "2026-06-30", "period_type": "three months", "source_accession": "0001594805-26-000047", "income_statement": { "subscription_solutions_revenue": 802000000, "merchant_solutions_revenue": 2781000000, "revenue": 3583000000, "cost_of_revenue_subscription_solutions": 163000000, "cost_of_revenue_merchant_solutions": 1712000000, "cost_of_revenue": 1875000000, "gross_profit": 1708000000, "sales_and_marketing": 498000000, "research_and_development": 445000000, "general_and_administrative": 136000000, "transaction_and_loan_losses": 141000000, "total_operating_expenses": 1220000000, "operating_income": 488000000, "interest_income": 66000000, "net_unrealized_gain_loss_on_equity_and_other_investments": 1249000000, "total_other_income_expense_net": 1287000000, "pretax_income": 1775000000, "provision_for_income_taxes": -273000000, "net_income": 1502000000, "basic_eps": 1.16, "diluted_eps": 1.16, "basic_shares": 1295220307, "diluted_shares": 1297940958, "net_realized_gain_on_equity_and_other_investments": 1000000, "net_loss_on_equity_method_investment": -22000000, "foreign_exchange_gain_loss": -7000000 }, "cash_flow": { "net_income": 1502000000, "stock_based_compensation": 128000000, "operating_cash_flow": 658000000, "capex": -4000000, "investing_cash_flow": 571000000, "financing_cash_flow": -1417000000, "cash_and_restricted_cash_end_of_period": 1656000000, "share_repurchases": -1420000000, "free_cash_flow": 654000000 }, "key_metrics": { "monthly_recurring_revenue": 221000000, "gross_merchandise_volume": 115567000000 }, "balance_sheet": { "cash_and_cash_equivalents": 1656000000, "marketable_securities": 3291000000, "loans_and_merchant_cash_advances_net": 2184000000, "total_current_assets": 7816000000, "long_term_investments": 525000000, "equity_and_other_investments": 4854000000, "equity_method_investment": 559000000, "goodwill": 491000000, "total_assets": 14470000000, "deferred_revenue_current": 335000000, "total_current_liabilities": 1460000000, "total_long_term_liabilities": 326000000, "total_equity": 12684000000, "total_liabilities_and_equity": 14470000000, "shares_outstanding": 1289206588, "total_liabilities": 1786000000 } } ], "year_to_date": { "label": "Six months ended June 30, 2026", "fiscal_year": 2026, "period_start": "2026-01-01", "period_end": "2026-06-30", "period_type": "six months", "source_accession": "0001594805-26-000047", "income_statement": { "subscription_solutions_revenue": 1552000000, "merchant_solutions_revenue": 5201000000, "revenue": 6753000000, "cost_of_revenue_subscription_solutions": 311000000, "cost_of_revenue_merchant_solutions": 3188000000, "cost_of_revenue": 3499000000, "gross_profit": 3254000000, "sales_and_marketing": 994000000, "research_and_development": 882000000, "general_and_administrative": 251000000, "transaction_and_loan_losses": 257000000, "total_operating_expenses": 2384000000, "operating_income": 870000000, "interest_income": 141000000, "net_unrealized_gain_loss_on_equity_and_other_investments": 185000000, "total_other_income_expense_net": 271000000, "pretax_income": 1141000000, "provision_for_income_taxes": -220000000, "net_income": 921000000, "basic_eps": 0.71, "diluted_eps": 0.71, "basic_shares": 1299266611, "diluted_shares": 1302627927, "net_realized_gain_on_equity_and_other_investments": 4000000, "net_loss_on_equity_method_investment": -43000000, "foreign_exchange_gain_loss": -16000000 }, "cash_flow": { "net_income": 921000000, "stock_based_compensation": 260000000, "operating_cash_flow": 1139000000, "capex": -9000000, "investing_cash_flow": 881000000, "financing_cash_flow": -1902000000, "cash_and_restricted_cash_end_of_period": 1656000000, "share_repurchases": -1911000000, "free_cash_flow": 1130000000 }, "key_metrics": { "monthly_recurring_revenue": 221000000, "gross_merchandise_volume": 216310000000 }, "prior_year_comparative": { "label": "Six months ended June 30, 2025", "fiscal_year": 2025, "period_start": "2025-01-01", "period_end": "2025-06-30", "period_type": "six months", "source_accession": "0001594805-26-000047", "income_statement": { "subscription_solutions_revenue": 1276000000, "merchant_solutions_revenue": 3764000000, "revenue": 5040000000, "cost_of_revenue_subscription_solutions": 244000000, "cost_of_revenue_merchant_solutions": 2325000000, "cost_of_revenue": 2569000000, "gross_profit": 2471000000, "sales_and_marketing": 820000000, "research_and_development": 771000000, "general_and_administrative": 231000000, "transaction_and_loan_losses": 155000000, "total_operating_expenses": 1977000000, "operating_income": 494000000, "interest_income": 171000000, "net_unrealized_gain_loss_on_equity_and_other_investments": -340000000, "total_other_income_expense_net": -185000000, "pretax_income": 309000000, "provision_for_income_taxes": -85000000, "net_income": 224000000, "basic_eps": 0.17, "diluted_eps": 0.17, "basic_shares": 1296593342, "diluted_shares": 1308463539, "net_realized_gain_on_equity_and_other_investments": 1000000, "net_loss_on_equity_method_investment": -47000000, "foreign_exchange_gain_loss": 30000000 }, "cash_flow": { "net_income": 224000000, "stock_based_compensation": 227000000, "operating_cash_flow": 795000000, "capex": -10000000, "investing_cash_flow": -871000000, "financing_cash_flow": 103000000, "cash_and_restricted_cash_end_of_period": 1542000000, "share_repurchases": 0, "free_cash_flow": 785000000 }, "key_metrics": { "monthly_recurring_revenue": 185000000, "gross_merchandise_volume": 162587000000 } } }, "trailing_twelve_months": { "label": "Trailing twelve months ended June 30, 2026", "period_start": "2025-07-01", "period_end": "2026-06-30", "period_type": "trailing twelve months", "source_accession": "0001594805-26-000007; 0001594805-26-000047", "basis": "fiscal year 2025 plus the six months ended June 30, 2026 less the six months ended June 30, 2025", "income_statement": { "subscription_solutions_revenue": 3028000000, "merchant_solutions_revenue": 10241000000, "revenue": 13269000000, "cost_of_revenue": 6931000000, "gross_profit": 6338000000, "sales_and_marketing": 1837000000, "research_and_development": 1647000000, "general_and_administrative": 491000000, "transaction_and_loan_losses": 519000000, "total_operating_expenses": 4494000000, "operating_income": 1844000000, "interest_income": 301000000, "total_other_income_expense_net": 497000000, "pretax_income": 2341000000, "provision_for_income_taxes": -413000000, "net_income": 1928000000 }, "cash_flow": { "stock_based_compensation": 482000000, "operating_cash_flow": 2377000000, "capex": -25000000, "free_cash_flow": 2352000000 }, "key_metrics": { "gross_merchandise_volume": 432164000000 } }, "notes": [ "Annual figures for fiscal 2023, 2024 and 2025 come from the consolidated statements in Shopify's FY2025 Form 10-K (accession 0001594805-26-000007). The 10-K's balance sheet presents only December 31, 2025 and December 31, 2024, so fiscal 2023 carries an income statement and cash flow but no balance sheet.", "Quarterly figures (Q2 2026 and Q2 2025), the six-month year-to-date figures and the June 30, 2026 balance sheet come from the condensed consolidated statements in Shopify's Q2 2026 Form 10-Q (accession 0001594805-26-000047). That filing prints three-month columns only for the second quarters, so first-quarter figures are not shown here.", "Dollar amounts are stored in actual US dollars; the filings present them in millions. Share counts are actual shares and per-share amounts are US dollars per share, as printed.", "Revenue is the sum of subscription solutions and merchant solutions, both shown on the face of the statement of operations; cost of revenues is split the same way.", "provision_for_income_taxes is stored as a negative number, matching how the statement of operations presents it as a deduction from income before income taxes.", "Other income includes net unrealized gains or losses on Shopify's equity and other investments, which swing net income widely between periods: a gain of $1,249 million in Q2 2026 and $681 million in Q2 2025, a gain of $185 million in the first half of 2026 against a loss of $340 million in the first half of 2025, and a loss of $186 million in fiscal 2025 against gains of $988 million in 2024 and $1,424 million in 2023. Operating income is the better guide to the underlying business.", "Fiscal 2023 operating expenses include a $1,340 million impairment on the sale of Shopify's logistics businesses, which is why that year shows an operating loss of $1,418 million.", "Free cash flow is net cash provided by operating activities less purchases of property and equipment. This is the calculation in the company's own free cash flow reconciliation in its Q2 2026 earnings release (accession 0001594805-26-000046), which reports $654 million for Q2 2026 and $422 million for Q2 2025; the same arithmetic was applied to every other period here.", "Starting in April 2026, Shopify presents the cash flows of merchant cash advances within investing activities, alongside loans, instead of within operating activities; earlier periods were not recast. The 10-Q says this change resulted in a net cash use of $37 million presented in investing activities for Q2 2026. Operating cash flow and free cash flow for Q2 2026 and the first half of 2026 are therefore on a different basis from Q2 2025, the first half of 2025 and the fiscal years, and the trailing-twelve-month cash flow mixes the two bases.", "total_liabilities is the sum of the current and long-term liability subtotals printed on each balance sheet; the balance sheet does not print a single total-liabilities line. It equals total assets less total shareholders' equity in every period.", "total_debt at December 31, 2024 is the $918 million of convertible senior notes on that balance sheet. The notes matured in 2025 (the fiscal 2025 cash flow statement shows $1,043 million paid on their maturity), and the December 31, 2025 balance sheet shows no amount on that line. The June 30, 2026 balance sheet carries no borrowings line at all, so total_debt is not stated for that date.", "shares_outstanding is the total of Class A subordinate voting shares, Class B restricted voting shares and the founder share, taken from the statement of changes in shareholders' equity at each balance sheet date. The statement shows 4,214,019 Class A shares repurchased in the first quarter of 2026 and 12,645,957 in the second quarter. Cash paid for repurchases was $1,420 million in Q2 2026 and $1,911 million in the first half of 2026; the 2025 periods show none.", "Gross Merchandise Volume and Monthly Recurring Revenue are the company's key performance indicators, taken from the MD&A tables in the 10-K and 10-Q. GMV is the total dollar value of orders facilitated through the platform over the period. MRR is measured on the last day of the period, so the six-month figure equals the quarter-end figure.", "The trailing-twelve-month view is derived: fiscal 2025 (accession 0001594805-26-000007) plus the six months ended June 30, 2026, less the six months ended June 30, 2025 (both from accession 0001594805-26-000047). Per-share amounts and share counts are not derived for it." ], "uncertainties": [ "Operating and free cash flow for 2026 are not directly comparable with earlier periods because merchant cash advance cash flows moved from operating to investing activities from April 2026 without recasting prior periods. The filing quantifies the effect only as a $37 million net cash use moved into investing activities in Q2 2026." ], "headline": { "period": "Q2 FY2026", "period_end_words": "June 30, 2026", "metrics": [ { "label": "Revenue", "format": "usd", "value": 3583000000, "text": "$3.58 billion", "exact": "$3,583,000,000", "compact": "$3.58B", "abs": "$3.58 billion", "prior_value": 2680000000, "prior": "$2.68 billion", "priorabs": "$2.68 billion", "yoy": "up 33.7%", "source": { "array": "quarterly", "field": "income_statement.revenue", "index": 1, "period_label": "Q2 2026", "period_end": "2026-06-30", "period_start": "2026-04-01", "span_days": 90, "source_accession": "0001594805-26-000047", "prior_index": 0, "prior_period_label": "Q2 2025", "prior_period_end": "2025-06-30", "prior_period_start": "2025-04-01", "prior_span_days": 90, "prior_source_accession": "0001594805-26-000047", "gap_days": 365 } }, { "label": "Net income", "format": "usd", "value": 1502000000, "text": "$1.50 billion", "exact": "$1,502,000,000", "compact": "$1.50B", "abs": "$1.50 billion", "prior_value": 906000000, "prior": "$906 million", "priorabs": "$906 million", "yoy": "up 65.8%", "source": { "array": "quarterly", "field": "income_statement.net_income", "index": 1, "period_label": "Q2 2026", "period_end": "2026-06-30", "period_start": "2026-04-01", "span_days": 90, "source_accession": "0001594805-26-000047", "prior_index": 0, "prior_period_label": "Q2 2025", "prior_period_end": "2025-06-30", "prior_period_start": "2025-04-01", "prior_span_days": 90, "prior_source_accession": "0001594805-26-000047", "gap_days": 365 } }, { "label": "Diluted EPS", "format": "eps", "value": 1.16, "text": "$1.16", "exact": "$1.16", "compact": "$1.16", "abs": "$1.16", "prior_value": 0.69, "prior": "$0.69", "priorabs": "$0.69", "yoy": "up 68.1%", "source": { "array": "quarterly", "field": "income_statement.diluted_eps", "index": 1, "period_label": "Q2 2026", "period_end": "2026-06-30", "period_start": "2026-04-01", "span_days": 90, "source_accession": "0001594805-26-000047", "prior_index": 0, "prior_period_label": "Q2 2025", "prior_period_end": "2025-06-30", "prior_period_start": "2025-04-01", "prior_span_days": 90, "prior_source_accession": "0001594805-26-000047", "gap_days": 365 } }, { "label": "Operating income", "format": "usd", "value": 488000000, "text": "$488 million", "exact": "$488,000,000", "compact": "$488.00M", "abs": "$488 million", "prior_value": 291000000, "prior": "$291 million", "priorabs": "$291 million", "yoy": "up 67.7%", "source": { "array": "quarterly", "field": "income_statement.operating_income", "index": 1, "period_label": "Q2 2026", "period_end": "2026-06-30", "period_start": "2026-04-01", "span_days": 90, "source_accession": "0001594805-26-000047", "prior_index": 0, "prior_period_label": "Q2 2025", "prior_period_end": "2025-06-30", "prior_period_start": "2025-04-01", "prior_span_days": 90, "prior_source_accession": "0001594805-26-000047", "gap_days": 365 } }, { "label": "Gross merchandise volume", "format": "usd", "value": 115567000000, "text": "$115.57 billion", "exact": "$115,567,000,000", "compact": "$115.57B", "abs": "$115.57 billion", "prior_value": 87837000000, "prior": "$87.84 billion", "priorabs": "$87.84 billion", "yoy": "up 31.6%", "source": { "array": "quarterly", "field": "key_metrics.gross_merchandise_volume", "index": 1, "period_label": "Q2 2026", "period_end": "2026-06-30", "period_start": "2026-04-01", "span_days": 90, "source_accession": "0001594805-26-000047", "prior_index": 0, "prior_period_label": "Q2 2025", "prior_period_end": "2025-06-30", "prior_period_start": "2025-04-01", "prior_span_days": 90, "prior_source_accession": "0001594805-26-000047", "gap_days": 365 } } ], "summary": "Shopify reported revenue of $3.58 billion for Q2 FY2026, the quarter ended June 30, 2026, up 33.7% from a year earlier, on gross merchandise volume of $115.57 billion, up 31.6%. Net income was $1.50 billion, or $1.16 per diluted share, against $906 million a year earlier, lifted by unrealized gains on Shopify's equity and other investments. Operating income, which excludes those gains, rose to $488 million from $291 million.", "qa": [ { "q": "How much revenue did Shopify make in Q2 FY2026?", "a": "Shopify reported revenue of $3.58 billion for Q2 FY2026, the quarter ended June 30, 2026. That is up 33.7% from $2.68 billion in the same quarter a year earlier." }, { "q": "What was Shopify's net income and earnings per share in Q2 FY2026?", "a": "Shopify earned net income of $1.50 billion, or $1.16 per diluted share, in Q2 FY2026, compared with $906 million, or $0.69 per diluted share, a year earlier. Shopify's net income includes unrealized gains and losses on its equity and other investments, which can move widely from one period to the next." }, { "q": "What was Shopify's operating income in Q2 FY2026?", "a": "Shopify's operating income was $488 million in Q2 FY2026, up 67.7% from $291 million a year earlier. Operating income excludes the investment gains and losses that drive much of the swing in Shopify's net income." }, { "q": "What was Shopify's gross merchandise volume in Q2 FY2026?", "a": "Shopify's gross merchandise volume was $115.57 billion in Q2 FY2026, up 31.6% from $87.84 billion a year earlier. Gross merchandise volume is the total value of orders facilitated through Shopify's platform, not Shopify's revenue." } ] }, "company_details": { "Name": "Shopify Inc.", "Ticker": "SHOP", "CIK": "0001594805", "Exchange": "Nasdaq", "State": "", "Incorporation": "Canada (Federal Level)", "SIC": "7372", "Office": "Technology", "Industry": "Services-Prepackaged Software" }, "next_filing": { "predicted_date": "2026-11-03", "predicted_type": "10-Q" }, "fiscal_period": { "fiscal_year": 2026, "fiscal_period": "Q2", "tag": "FY26Q2", "period_end": "2026-06-30", "form": "10-Q", "accession": "0001594805-26-000047", "fiscal_year_end": "1231", "source": "facts" }, "source_filings": [ { "role": "annual", "current": false, "form": "10-K", "fiscal_year": 2025, "fiscal_period": "FY", "tag": "FY25", "period_end": "2025-12-31", "filed": "2026-02-11", "accession": "0001594805-26-000007", "url": "https://www.sec.gov/Archives/edgar/data/1594805/000159480526000007/shop-20251231.htm", "source": "reported" }, { "role": "quarterly", "current": true, "form": "10-Q", "fiscal_year": 2026, "fiscal_period": "Q2", "tag": "FY26Q2", "period_end": "2026-06-30", "filed": "2026-08-05", "accession": "0001594805-26-000047", "url": "https://www.sec.gov/Archives/edgar/data/1594805/000159480526000047/shop-20260630.htm", "source": "facts" } ], "figure_sources": { "about": "Where each figure in this file is printed in its SEC filing. 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"investing_cash_flow": "d2#f-410", "financing_cash_flow": "d2#f-422", "cash_and_restricted_cash_end_of_period": "d2#f-438", "share_repurchases": "d2#f-418", "free_cash_flow": "d2#f-382" }, "balance_sheet": { "cash_and_cash_equivalents": "d2#f-32", "marketable_securities": "d2#f-34", "loans_and_merchant_cash_advances_net": "d2#f-38", "total_current_assets": "d2#f-42", "long_term_investments": "d2#f-54", "equity_and_other_investments": "d2#f-58", "equity_method_investment": "d2#f-60", "goodwill": "d2#f-62", "total_assets": "d2#f-66", "deferred_revenue_current": "d2#f-70", "total_current_liabilities": "d2#f-74", "total_long_term_liabilities": "d2#f-82", "total_equity": "d2#f-108", "total_liabilities_and_equity": "d2#f-110", "shares_outstanding": "d2#f-324" } } ] } }