Shopify Inc. · Q4 2025
ReportedFeb 11, 2026
Period endedDec 31, 2025
Rule of 40+50
The quarter in short
Revenue $3.67B, up 30.6% year over year and 29.1% on the quarter. EPS $0.48, down 17.2% year over year and 17.2% on the quarter. Free cash flow $715M, up 17.0% year over year and 41.0% on the quarter. Rule of 40 score +50.
Reported this quarter
Revenue
$3.67B
QoQ +29.1%
YoY +30.6%
EPS
$0.48
QoQ −17.2%
YoY −17.2%
Free Cash Flow
$715M
QoQ +41.0%
YoY +17.0%
Gross Margin
46.1%
QoQ −2.8 pp
YoY —
FCF Margin
19.5%
QoQ +1.6 pp
YoY −2.3 pp
P/E Ratio
173.1
QoQ +57.2%
YoY +152.3%
Each tile opens the full quarterly series. Download the numbers as CSV or JSON.
Coverage around this release
R40
Shopify Q4 2025: $3.67B Revenue Beat, $2B Buyback — So Why Is the Stock Down?
News · Feb 11, 2026
News
SHOP Trades ~38% Below Analyst Targets
Yahoo Finance
News
Sharp Selloff: SHOP Down ~16% YTD
Yahoo Finance
News
Analyst Upgrades Ahead of Earnings (Arete to Buy)
TipRanks
News
1 Growth Stock Down 16% to Buy and Hold
Motley Fool
News
Major Single-Day Drop (~10%)
Market Watch
News
Upgrading Shopify On Agentic Commerce Inflection Point
Seeking Alpha
Sources & downloads
Company
Published by the company on the day of the release.
HTML
Earnings press release
Investor relations announcement
SEC filings
Filed with the SEC under CIK 1594805.
HTML
8-K results announcement
Filed Feb 11, 2026
HTM
Press release (EX-99.1)
Exhibit 99.1 to the 8-K
246 KB
HTML
Filing index
Every document in the 8-K submission
TXT
Complete submission
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HTML
10-K annual report
Period ended Dec 31, 2025, filed Feb 11, 2026
ZIP
XBRL data bundle
Structured financial statements from the 10-K
JSON
Company facts (XBRL)
Every figure SHOP has reported to the SEC
R40 data
The numbers shown on this page, as we hold them.
CSV
This quarter (CSV)
Reported metrics for Q4 2025, spreadsheet-ready
JSON
This quarter (JSON)
Metrics, dates and matched filings