Shopify Inc. (SHOP) operating KPIs
SHOPNasdaqServices-Prepackaged SoftwareFiscal year ends December 31
$157.49−9.40 (-5.63%)
Close on Oct 30, 2026Market cap $202.63BP/E 105.7Yield –
Shopify research and Development Expense ($M) ($M)
Annual figures from Shopify's filings and investor materials
Latest, FY2025
1,536
Period ended Dec 31, 2025
Change on a year earlier
+12.4%
1,367 in FY2024
History
12 years
Since FY2014
Sources
10
Documents cited below
Annual history
Hover a value to see the sentence it was read from; calculated values show their formula
| Period | Ended | Research and Development Expense ($M) ($M) | Year on year | Source |
|---|---|---|---|---|
| FY2025 | Dec 31, 2025 | 1,536 | +12.4% | Form 10-K (filed 2026-02-11) ↗ |
| FY2024 | Dec 31, 2024 | 1,367 | -21.0% | Form 10-K (filed 2026-02-11) ↗ |
| FY2023 | Dec 31, 2023 | 1,730 | +15.1% | Form 40-F (filed 2024-02-13) ↗ |
| FY2022 | Dec 31, 2022 | 1,503 | +75.9% | Form 40-F (filed 2024-02-13) ↗ |
| FY2021 | Dec 31, 2021 | 854 | +54.8% | Form 40-F (filed 2023-02-16) ↗ |
| FY2020 | Dec 31, 2020 | 552 | +55.5% | Form 40-F (filed 2022-02-16) ↗ |
| FY2019 | Dec 31, 2019 | 355 | +53.9% | Form 40-F (filed 2021-02-17) ↗ |
| FY2018 | Dec 31, 2018 | 231 | +69.6% | Form 40-F (filed 2020-02-12) ↗ |
| FY2017 | Dec 31, 2017 | 136 | +83.0% | Form 40-F (filed 2019-02-12) ↗ |
| FY2016 | Dec 31, 2016 | 74.3 | +87.2% | Form 40-F (filed 2018-02-15) ↗ |
| FY2015 | Dec 31, 2015 | 39.7 | +53.2% | Form 40-F (filed 2017-02-15) ↗ |
| FY2014 | Dec 31, 2014 | 25.9 | – | Form 40-F FY2016 (filed 2017-02-15) ↗ |
Breakdown
What makes up research and development expense ($m)
Cite this data
StockData. (2026). Shopify Research and Development Expense ($M) ($M), annual FY2014–FY2025 [Data set]. Compiled from Shopify SEC filings and investor materials. https://stockdatahq.com/stocks/shop/kpis/sol_rd_exp
See every metric in the Shopify KPI table. Data updated Oct 25, 2026.