Below are the financial statements of Shopify, including the income statement and balance sheet for the company's latest fiscal year. All figures are accurate, verifiable, and fully traceable to the original annual filing where disclosed.
| All figures in millions of USD | 2024 | 2023 | 2022 |
|---|---|---|---|
| Revenues | — | — | — |
| Subscription solutions | 2,350a | 1,837a | 1,488a |
| Merchant solutions | 6,530a | 5,223a | 4,112a |
| Cost of revenues | — | — | — |
| Subscription solutions | -434a | -354a | -331a |
| Merchant solutions | -3,974a | -3,191a | -2,515a |
| Gross profit | 4,472a | 3,515a | 2,754a |
| Operating expenses | — | — | — |
| Sales and marketing | -1,393a | -1,220a | -1,230a |
| Research and development | -1,367a | -1,730a | -1,503a |
| General and administrative | -410a | -491a | -708a |
| Transaction and loan losses | -227a | -152a | -135a |
| Impairment on sales of Shopify's logistics businesses | 0a | -1,340a | 0a |
| Total operating expenses | -3,397a | -4,933a | -3,576a |
| Income (loss) from operations | 1,075a | -1,418a | -822a |
| Other income (expense), net | — | — | — |
| Interest income | 308a | 241a | 75a |
| Net realized gain (loss) on equity and other investments | 3a | -5a | 124a |
| Net unrealized gain (loss) on equity and other investments | 988a | 1,424a | -2,998a |
| Net loss on equity method investment | -138a | -58a | 0a |
| Foreign exchange (loss) gain | -8a | 1a | -2a |
| Total other income (expense), net | 1,153a | 1,603a | -2,801a |
| Income before income taxes | 2,228a | 185a | -3,623a |
| (Provision for) recovery of income taxes | -209a | -53a | -163a |
| Net income (loss) | 2,019a | 132a | -3,460a |
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