Quick Answer
SHOPIFY INC. reported R&D Expense of $1.54 billion for fiscal year 2025.
SHOPIFY INC. R&D Expense — Annual History
| Fiscal Year | R&D Expense | YoY Change |
|---|---|---|
| 2025 | $1.54B | +12.4% |
| 2024 | $1.37B | -21.0% |
| 2023 | $1.73B | +15.1% |
| 2022 | $1.50B | +3683.8% |
| 2015 | $39.72M | +53.3% |
| 2014 | $25.91M | +89.4% |
| 2013 | $13.68M | — |
Quarterly R&D Expense
| Quarter Ending | R&D Expense | YoY | QoQ |
|---|---|---|---|
| September 30, 2025 | $375.00M | +13.0% | -4.8% |
| June 30, 2025 | $394.00M | +12.9% | +4.5% |
| March 31, 2025 | $377.00M | +12.5% | +13.6% |
| September 30, 2024 | $332.00M | — | -4.9% |
| June 30, 2024 | $349.00M | — | +4.2% |
| March 31, 2024 | $335.00M | — | — |
- SHOPIFY INC. showed an increase of +12.4% in R&D Expense compared to the prior fiscal year.
- Over the 2013–2025 period, SHOPIFY INC.’s r&d expense has grown by 11126.4% (from $13.68 million to $1.54 billion).
- The most recent figure is from SHOPIFY INC.’s fiscal year 2025 report (Form 10-K), filed with the SEC on February 11, 2026.
- All figures are sourced from SEC EDGAR XBRL filings, last verified June 17, 2026.
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