SHOPIFY INC.
For the period ended Sep 30, 2026. Filed Nov 3, 2026.
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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.
Sep 30, 2026 · Filed Nov 3, 2026
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 Cash Flows
(Expressed in US $ millions)
| Three months ended September 30, | Nine months ended September 30, | |||
|---|---|---|---|---|
| 2026 | 2025 | 2026 | 2025 | |
| Cash flows from operating activities | ||||
| Net income for the period | 462 | 264 | 1,383 | 488 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||
| Amortization and depreciation | 7 | 8 | 21 | 24 |
| Stock-based compensation | 140 | 107 | 400 | 334 |
| Impairment of right-of-use assets and leasehold improvements | — | 3 | — | 13 |
| Provision for transaction and loan losses | 67 | 102 | 209 | 189 |
| Deferred income tax recovery | (68) | (5) | (42) | (36) |
| Revenue related to non-cash consideration | (13) | (12) | (38) | (37) |
| Unrealized loss on embedded derivative | — | 29 | — | 29 |
| Net loss (gain) on equity and other investments | 117 | 62 | (72) | 401 |
| Net loss on equity method investment | 21 | 21 | 64 | 68 |
| Unrealized foreign exchange loss (gain) | 1 | 4 | 19 | (54) |
| Changes in operating assets and liabilities | 84 | (70) | 13 | (111) |
| Net cash provided by operating activities | 818 | 513 | 1,957 | 1,308 |
| Cash flows from investing activities | ||||
| Purchases of property and equipment | (2) | (6) | (11) | (16) |
| Purchases of marketable securities | (866) | (1,460) | (2,363) | (4,642) |
| Maturities of marketable securities | 1,302 | 1,956 | 4,215 | 4,751 |
| Purchases and originations of loans and merchant cash advances(1) | (1,700) | (996) | (4,633) | (2,745) |
| Repayments and sales of loans and merchant cash advances(1) | 1,471 | 849 | 3,931 | 2,253 |
| Purchases of equity and other investments | (161) | (8) | (217) | (83) |
| Acquisition of businesses, net of cash acquired | (5) | — | (5) | (56) |
| Acquisition of intangible assets | (99) | — | (99) | — |
| Other | — | — | 3 | 2 |
| Net cash (used in) provided by investing activities | (60) | 335 | 821 | (536) |
| Cash flows from financing activities | ||||
| Proceeds from the exercise of stock options | 15 | 24 | 24 | 127 |
| Repurchases of common stock | (562) | — | (2,473) | — |
| Net cash (used in) provided by financing activities | (547) | 24 | (2,449) | 127 |
| Effect of foreign exchange on cash, cash equivalents and restricted cash | 1 | — | (6) | 17 |
| Net increase in cash, cash equivalents and restricted cash | 212 | 872 | 323 | 916 |
| Cash, cash equivalents and restricted cash – beginning of period | 1,656 | 1,542 | 1,545 | 1,498 |
| Cash, cash equivalents and restricted cash – end of period | 1,868 | 2,414 | 1,868 | 2,414 |
| Supplemental cash flow information: | ||||
| Cash paid for income taxes, net | 70 | 23 | 311 | 111 |
(1)Starting in April 2026, the cash flows associated with merchant cash advances are presented within investing cash flows on a basis consistent with loans, given the similar nature of the underlying lending activities.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.