Filing Flows › Shopify (SHOP) › R&D spending
Shopify (SHOP) R&D spending by quarter
Shopify's R&D spending was $497M in Q3 2026 (third quarter 2026), +12% from Q2 2026. Over the last 7 quarters it ranged from $375M (Q3 2025) to $497M (Q3 2026).
| Quarter | R&D spending | Q/Q | Y/Y |
|---|---|---|---|
| Q3 2026 | $497M | +12% | +33% |
| Q2 2026 | $445M | +2% | +13% |
| Q1 2026 | $437M | +12% | +16% |
| Q4 2025 | $390M | +4% | — |
| Q3 2025 | $375M | -5% | — |
| Q2 2025 | $394M | +5% | — |
| Q1 2025 | $377M | — | — |
Q3 2026 at a glance
Shopify, Q3 2026: revenue $3.7B (+32% year over year), operating margin 15.2%, net earnings $462M, operating cash flow $818M. The chart follows the revenue to costs, profit and cash.
Questions
What is Shopify's R&D spending?
Shopify's R&D spending was $497M in Q3 2026 (third quarter 2026), +12% from Q2 2026.
How has Shopify's R&D spending changed?
Over the last 7 quarters it ranged from $375M (Q3 2025) to $497M (Q3 2026).