Shopify Inc.
Close on Nov 3, 2026Market cap $183.44BP/E 95.7Yield –
Shopify Merchant Solutions Cost of Revenues by Year
Merchant Solutions Cost of Revenues ($M) ($M)
Shopify Merchant Solutions Cost of Revenues: $5,481M in FY2025, up 37.9% from a year earlier. That is the highest of the 12 years on record here.
Where the FY2025 figure comes from
Source: Form 10-K (filed 2026-02-11) ↗
Annual history
Hover a value to see the sentence it was read from; calculated values show their formula
| Period | Ended | Merchant Solutions Cost of Revenues ($M) ($M) | Year on year | Source |
|---|---|---|---|---|
| FY2025 | Dec 31, 2025 | 5,481 | +37.9% | Form 10-K (filed 2026-02-11) ↗ |
| FY2024 | Dec 31, 2024 | 3,974 | +24.5% | Form 10-K (filed 2026-02-11) ↗ |
| FY2023 | Dec 31, 2023 | 3,191 | +26.9% | Form 40-F (filed 2024-02-13) ↗ |
| FY2022 | Dec 31, 2022 | 2,515 | +34.8% | Form 40-F (filed 2024-02-13) ↗ |
| FY2021 | Dec 31, 2021 | 1,866 | +56.3% | Form 40-F (filed 2023-02-16) ↗ |
| FY2020 | Dec 31, 2020 | 1,194 | +104.4% | Form 40-F (filed 2022-02-16) ↗ |
| FY2019 | Dec 31, 2019 | 584 | +55.4% | Form 40-F (filed 2021-02-17) ↗ |
| FY2018 | Dec 31, 2018 | 376 | +62.2% | Form 40-F (filed 2020-02-12) ↗ |
| FY2017 | Dec 31, 2017 | 232 | +65.1% | Form 40-F FY2019 (filed 2020-02-12) ↗ |
| FY2016 | Dec 31, 2016 | 140 | +108.1% | Form 40-F FY2018 (filed 2019-02-12) ↗ |
| FY2015 | Dec 31, 2015 | 67.4 | +163.3% | Form 40-F FY2017 (filed 2018-02-15) ↗ |
| FY2014 | Dec 31, 2014 | 25.6 | – | Form 40-F FY2016 (filed 2017-02-15) ↗ |
Breakdown
What makes up merchant Solutions Cost of Revenues
Cite this data
StockData. (2026). Shopify Merchant Solutions Cost of Revenues ($M), annual FY2014–FY2025 [Data set]. Compiled from Shopify SEC filings and investor materials. https://stockdatahq.com/stocks/shop/kpis/merchant-solutions-cost-of-revenues
See every metric in the Shopify KPI table. Data updated Oct 25, 2026.
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