| Three months ended | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | (in US $ millions) | Cost of revenues | 1 | 3 | 4 | 4 | 4 | 4 | 8 | 19 | Sales and marketing | 1 | — | — | — | — | — | 1 | 2 | Research and development | — | 1 | — | — | — | — | — | — | 2 | 4 | 4 | 4 | 4 | 4 | 9 | 21 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Years ended December 31, | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 2024 | 2023 | 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| (in US $ millions, except share and per share amounts) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Revenues | Subscription solutions | $ | 2,350 | $ | 1,837 | $ | 1,488 | Merchant solutions | 6,530 | 5,223 | 4,112 | 8,880 | 7,060 | 5,600 | Cost of revenues(1)(2) | Subscription solutions | 434 | 354 | 331 | Merchant solutions | 3,974 | 3,191 | 2,515 | 4,408 | 3,545 | 2,846 | Gross profit | 4,472 | 3,515 | 2,754 | Operating expenses | Sales and marketing(1)(2)(3) | 1,393 | 1,220 | 1,230 | Research and development(1)(2)(3) | 1,367 | 1,730 | 1,503 | General and administrative(1)(3)(4)(5) | 410 | 491 | 708 | Transaction and loan losses | 227 | 152 | 135 | Impairment on sales of Shopify's logistics businesses | — | 1,340 | — | Total operating expenses | 3,397 | 4,933 | 3,576 | Income (loss) from operations | 1,075 | (1,418) | (822) | Other income (expense), net | 1,153 | 1,603 | (2,801) | Income (loss) before income taxes | 2,228 | 185 | (3,623) | (Provision for) recovery of income taxes | (209) | (53) | 163 | Net income (loss) | 2,019 | 132 | (3,460) | Net income (loss) per share attributable to shareholders: | Basic | $ | 1.57 | $ | 0.10 | $ | (2.73) | Diluted | $ | 1.55 | $ | 0.10 | $ | (2.73) | Shares used to compute net income (loss) per share attributable to shareholders: | Basic | 1,289,812,124 | 1,281,554,559 | 1,266,268,155 | Diluted | 1,301,509,980 | 1,295,511,385 | 1,266,268,155 | ||||||||||||||||||||||||||||||
| Three months ended | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | (in US $ millions, except per share data) | Revenues | Subscription solutions | 666 | 610 | 563 | 511 | 525 | 486 | 444 | 382 | Merchant solutions | 2,146 | 1,552 | 1,482 | 1,350 | 1,619 | 1,228 | 1,250 | 1,126 | 2,812 | 2,162 | 2,045 | 1,861 | 2,144 | 1,714 | 1,694 | 1,508 | Cost of revenues(1)(2) | Subscription solutions | 134 | 108 | 97 | 95 | 97 | 88 | 85 | 84 | Merchant solutions | 1,326 | 936 | 903 | 809 | 985 | 725 | 774 | 707 | 1,460 | 1,044 | 1,000 | 904 | 1,082 | 813 | 859 | 791 | Gross profit | 1,352 | 1,118 | 1,045 | 957 | 1,062 | 901 | 835 | 717 | Operating expenses | Sales and marketing(1)(2)(4) | 348 | 331 | 353 | 361 | 317 | 295 | 321 | 287 | Research and development(1)(2)(4) | 351 | 332 | 349 | 335 | 311 | 313 | 648 | 458 | General and administrative(1)(3)(4)(5) | 112 | 114 | 60 | 124 | 100 | 137 | 131 | 123 | Transaction and loan losses | 76 | 58 | 42 | 51 | 45 | 34 | 31 | 42 | Impairment on sales of Shopify's logistics businesses | — | — | — | — | — | — | 1,340 | — | Total operating expenses | 887 | 835 | 804 | 871 | 773 | 779 | 2,471 | 910 | Income (loss) from operations | 465 | 283 | 241 | 86 | 289 | 122 | (1,636) | (193) | Other (expenses) income, net | 956 | 577 | (38) | (342) | 393 | 606 | 335 | 269 | Income (loss) before income taxes | 1,421 | 860 | 203 | (256) | 682 | 728 | (1,301) | 76 | Provision for income taxes | (128) | (32) | (32) | (17) | (25) | (10) | (10) | (8) | Net income (loss) | 1,293 | 828 | 171 | (273) | 657 | 718 | (1,311) | 68 | Net income (loss) per share attributable to shareholders: | Basic | $ | 1.00 | $ | 0.64 | $ | 0.13 | $ | (0.21) | $ | 0.51 | $ | 0.56 | $ | (1.02) | $ | 0.05 | Diluted | $ | 0.99 | $ | 0.64 | $ | 0.13 | $ | (0.21) | $ | 0.51 | $ | 0.55 | $ | (1.02) | $ | 0.05 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Years ended | ||||||||||||||||||||||||||
| December 31, 2024 | December 31, 2023 | December 31, 2022 | ||||||||||||||||||||||||
| (in US $ millions) | ||||||||||||||||||||||||||
| Cost of revenues | 12 | 35 | 49 | Sales and marketing | 1 | 3 | 5 | Research and development | 1 | — | — | 14 | 38 | 54 | ||||||||||||
| Years ended | ||||||||||||||||||||||||||||||||||||||||||||||||||
| December 31, 2024 | December 31, 2023 | December 31, 2022 | ||||||||||||||||||||||||||||||||||||||||||||||||
| (in US $ millions) | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Balance, beginning of the year | 4 | (16) | (6) | Other comprehensive (loss) income before reclassifications | (27) | 7 | (33) | Gain on cash flow hedges reclassified from accumulated other comprehensive (loss) income to earnings: | Cost of revenues | — | — | 1 | Sales and marketing | 2 | 3 | 5 | Research and development | 5 | 9 | 13 | General and administrative | 1 | 1 | 4 | Tax effect on unrealized loss on cash flow hedges | 5 | — | — | Other comprehensive (loss) income, net of tax | (14) | 20 | (10) | Balance, end of the year | (10) | 4 | (16) | ||||||||||||||
