Shopify Inc. revenue
Shopify Inc.'s revenue was $11.56bn in fiscal 2025, up 30.1% on the year before. Since fiscal 2017 ($673m) it has grown at a compound 42.7% a year. Over the last twelve months it was $14.17bn.
Revenue history
| Fiscal year | 2017Dec 2017 | 2018Dec 2018 | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMSept 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 0.7 | 1.1 | 1.6 | 2.9 | 4.6 | 5.6 | 7.1 | 8.9 | 11.6 | 14.2 |
| Growth on the year before | — | +59.4% | +47.0% | +85.6% | +57.4% | +21.4% | +26.1% | +25.8% | +30.1% | — |
| Gross profit | 0.4 | 0.6 | 0.9 | 1.5 | 2.5 | 2.8 | 3.5 | 4.5 | 5.6 | 6.7 |
| Gross margin | 56.5% | 55.6% | 54.9% | 52.6% | 53.8% | 49.2% | 49.8% | 50.4% | 48.1% | 47.5% |
Where the revenue comes from
| Line of business | Revenue | Share | YoY |
|---|---|---|---|
| Services | $8.8B | 76.2% | ▲ 34.8% |
| Subscriptions | $2.8B | 23.8% | ▲ 17.1% |
From Shopify Inc.'s 10-K filed February 11, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.
Revenue against peers
| Company | Revenue | Growth | 3-year growth a year |
|---|---|---|---|
| Shopify Inc. | $14.17bn | 32.5% | 176.1% |
| Analog Devices | $13.88bn | 33.6% | 2.6% |
| Western Digital | $14.48bn | 43.0% | 57.4% |
| KLA Corporation | $14.51bn | 15.8% | 12.6% |
| Seagate Technology | $13.80bn | 44.4% | 26.6% |
| NXP Semiconductors | $13.80bn | 14.6% | 1.6% |
Compare with peers
- Analog Devices revenue
- Western Digital revenue
- KLA Corporation revenue
- Seagate Technology revenue
- NXP Semiconductors revenue
Head to head: ADI vs SHOPSHOP vs WDCKLAC vs SHOP