SHOPIFY INC
For the period ended Mar 31, 2025. Filed May 8, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2025 · Filed May 8, 2025
SHOP$146.61-3.6%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Operations and Comprehensive Income (Loss)
(Expressed in US $ millions, except share and per share amounts)
| Three months ended | ||
|---|---|---|
| March 31, 2025 | March 31, 2024 | |
| Revenues | ||
| Subscription solutions | 620 | 511 |
| Merchant solutions | 1,740 | 1,350 |
| 2,360 | 1,861 | |
| Cost of revenues | ||
| Subscription solutions | 123 | 95 |
| Merchant solutions | 1,068 | 809 |
| 1,191 | 904 | |
| Gross profit | 1,169 | 957 |
| Operating expenses | ||
| Sales and marketing | 405 | 361 |
| Research and development | 377 | 335 |
| General and administrative | 109 | 124 |
| Transaction and loan losses | 75 | 51 |
| Total operating expenses | 966 | 871 |
| Income from operations | 203 | 86 |
| Other expense, net | ||
| Interest income | 65 | 79 |
| Net unrealized loss on equity and other investments | (1,021) | (373) |
| Net loss on equity method investment | (23) | (44) |
| Foreign exchange gain (loss) | 6 | (4) |
| Total other expense, net | (973) | (342) |
| Loss before income taxes | (770) | (256) |
| Recovery of (provision for) income taxes | 88 | (17) |
| Net loss | (682) | (273) |
| Net loss per share attributable to shareholders: | ||
| Basic | $(0.53) | $(0.21) |
| Diluted | $(0.53) | $(0.21) |
| Weighted average shares used to compute net loss per share attributable to shareholders: | ||
| Basic | 1,295,377,376 | 1,287,376,719 |
| Diluted | 1,295,377,376 | 1,287,376,719 |
| Other comprehensive income (loss) | ||
| Unrealized gain (loss) on cash flow hedges | 5 | (8) |
| Tax effect on unrealized loss on cash flow hedges | (1) | — |
| Total other comprehensive income (loss) | 4 | (8) |
| Comprehensive loss | (678) | (281) |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.