Shopify

OverviewSuggest Edit

Shopify is a company that develops a cloud-based, multichannel commerce platform for small and medium-sized businesses. It is used to design, set up, and manage stores across multiple sales channels, including web, mobile, social media, brick-and-mortar locations, and pop-up shops. The platform also provides a back-office and a single view of the clients' business.
TypePublic
Founded2004
HQOttawa, CA
Websiteshopify.com
Employee Ratings4.3
Overall CultureA+

Latest Updates

Employees (est.) (Dec 2021)10,000(+43%)
Job Openings48
Revenue (FY, 2021)$4.6 B(+58%)
Share Price (Jul 2022)C$44.6(-3%)
Cybersecurity ratingAMore
Discover new suppliers and conduct deeper comparison analysis with Craft for EnterpriseLearn more
Banner background

Key People/Management at Shopify

Tobi Lütke

Tobi Lütke

Founder & Chief Executive Officer, Board Member
Harley Finkelstein

Harley Finkelstein

President
Amy Shapero

Amy Shapero

Chief Financial Officer
Allan Leinwand

Allan Leinwand

Chief Technology Officer
John Asante

John Asante

Chief Information Security Officer
Toby Shannan

Toby Shannan

Chief Operating Officer
Show more

Shopify Office Locations

Shopify has offices in Ottawa, Dublin and Singapore
Ottawa, CA (HQ)
151 O'Connor St
Dublin, IE
2nd Floor 1-2 Victoria Buildings Haddington Road
Singapore, SG
77 Robinson Road, #13-00 Robinson 77
Show all (3)

Shopify Financials and Metrics

Shopify Revenue

Embed Graph
View revenue for all periods
Shopify's revenue was reported to be $4.61 b in FY, 2021
USD

Revenue (Q2, 2022)

1.3b

Gross profit (Q2, 2022)

672.0m

Gross profit margin (Q2, 2022), %

51.9%

Net income (Q2, 2022)

(1.2b)

EBITDA (Q2, 2022)

(1.1b)

EBIT (Q2, 2022)

(1.2b)

Market capitalization (29-Jul-2022)

5.6b

Closing stock price (29-Jul-2022)

44.6

Cash (30-Jun-2022)

3.4b

EV

3.4b
Shopify's current market capitalization is C$5.6 b.
Annual
USDFY, 2018FY, 2019FY, 2020FY, 2021

Revenue

1.1b1.6b2.9b4.6b

Cost of goods sold

(461.3m)(693.7m)(1.4b)(2.1b)

Gross profit

611.9m884.4m1.6b2.5b

Gross profit Margin, %

57%56%54%54%
Quarterly
USDQ1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020Q3, 2020Q1, 2021Q2, 2021Q3, 2021Q1, 2022Q2, 2022

Revenue

320.5m362.0m390.6m470.0m714.3m767.4m988.6m1.1b1.1b1.2b1.3b

Cost of goods sold

(133.4m)(149.8m)(165.1m)(198.7m)(319.4m)(344.4m)(414.1m)(483.9m)(501.2m)(549.3m)(623.0m)

Gross profit

187.1m212.1m225.4m271.3m395.0m423.0m574.5m635.5m622.5m654.3m672.0m

Gross profit Margin, %

58%59%58%58%55%55%58%57%55%54%52%
Annual
USDFY, 2018FY, 2019FY, 2020FY, 2021

Cash

410.7m649.9m2.7b2.5b

Accounts Receivable

28.3m78.1m109.5m166.3m

Prepaid Expenses

12.9m20.8m25.1m49.9m
Quarterly
USDQ1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020Q3, 2020Q1, 2021Q2, 2021Q3, 2021Q1, 2022Q2, 2022

Cash

410.4m669.0m1.1b969.4m1.9b3.1b2.8b2.4b2.2b2.5b3.4b

Accounts Receivable

24.1m28.8m30.6m76.5m96.1m101.6m150.0m133.4m135.7m153.2m217.0m
Annual
USDFY, 2018FY, 2019FY, 2020FY, 2021

Net Income

(64.6m)(124.8m)319.5m2.9b

Depreciation and Amortization

27.1m35.7m70.1m66.3m

Accounts Payable

20.6m84.6m118.6m138.2m
Quarterly
USDQ1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020Q3, 2020Q1, 2021Q2, 2021Q3, 2021Q1, 2022Q2, 2022

Net Income

(24.2m)(52.8m)(125.6m)(31.4m)4.6m195.6m1.3b2.1b3.3b(1.5b)(2.7b)

Depreciation and Amortization

6.8m14.2m23.0m14.4m34.3m52.2m15.8m30.5m44.1m16.7m33.1m

Accounts Payable

33.9m55.9m53.9m30.6m61.7m86.1m39.8m(10.2m)39.4m(44.0m)(39.1m)
USDFY, 2018

EV/EBITDA

-202.9 x

EV/EBIT

-143.2 x

EV/CFO

1.4 k x

Revenue/Employee

268.3k

Financial Leverage

1.1 x
Show all financial metrics

Shopify Operating Metrics

FY, 2018Q1, 2019Q2, 2019Q3, 2019FY, 2019Q1, 2020Q2, 2020Q3, 2020FY, 2020Q1, 2021Q2, 2021Q3, 2021

Monthly Recurring Revenue

$40.93 m$44.21 m$47.12 m$50.65 m$53.9 m$55.4 m$57.03 m$74.36 m$82.61 m$89.93 m$95.11 m$98.78 m

Gross Merchandise Volume

$41.1 b$11.9 b$13.75 b$14.82 b$61.14 b$17.42 b$30.11 b$30.92 b$119.58 b$37.35 b$42.19 b$41.76 b

Network Services Merchants

18 k19 k22 k23 k24.5 k26.4 k30.3 k37.4 k42.2 k45.8 k46.4 k43 k

Merchants

820 k1 m1.75 m

Shopify Acquisitions / Subsidiaries

Company NameDateDeal Size
Donde Fashion, Inc.July 20, 2021$50.69 m
PrimerJune 11, 2021
6 River SystemsSeptember 10, 2019$450 m
HelpfulMay 23, 2019
HandshakeMay 22, 2019$100 m
TictailNovember 26, 2018
Return MagicJune 20, 2018
OberloMay 11, 2017$15 m
Tiny HeartsDecember 05, 2016
BoltmadeOctober 03, 2016
Show more

Human Capital Metrics

Embed Graph

Shopify Cybersecurity Score

Cybersecurity ratingPremium dataset

A

90/100

SecurityScorecard logo

Shopify Environment, Social & Governance (ESG) Ratings

CSRHub ESG ratingPremium dataset

50-59

out of 100

CSRHub logo

Shopify Online and Social Media Presence

Embed Graph

Shopify Company Culture

  • Overall Culture

    A+

    81/100

  • CEO Rating

    A+

    83/100

  • Compensation

    B+

    74/100

  • Diversity

    B+

    74/100

Learn more on Comparably

Shopify News and Updates

Shopify stumbling, Rogers resilient, recession fundraising

All bets are off. The post Shopify stumbling, Rogers resilient, recession fundraising first appeared on BetaKit.

In Just 4 Words, Shopify CEO Taught a Leadership Lesson to Every CEO

Shopify decides to lay off 10% of its workforce. What does their leader have to say?

Piper Sandler downgrades Shopify after earnings, cites volatile path ahead for e-commerce company

The online retail company reported a second-quarter earnings miss that disappointed on earnings and revenue expectations.

R|T: The Retail Times – Shopify presses play on YouTube, Lightspeed pairs well with OpenTable

Plus: Unreserved files $25 million lawsuit against real estate associations. The post R|T: The Retail Times – Shopify presses play on YouTube, Lightspeed pairs well with OpenTable first appeared on BetaKit.

Earnings Results: Shopify predicts steeper losses, but stock still rallies after earnings

A day after announcing it would conduct steep layoffs, Shopify Inc. announced a quarterly loss and issued more cautious commentary about the way inflation was impacting the business, though its shares rallied sharply following the latest report.
Show more

Shopify Blogs

How to Build A Business with Social Impact

In this episode of Shopify Masters, Michael Mader shares how he and his team were able to build a profitable business model with impact, win pitching competitions, and score dream partnerships with professional athletes.More

How to Get Backlinks: 15 Proven Strategies

Search engine optimization, when implemented properly, can help your store rank higher in search engine results and deliver a steady stream of traffic and sales, day after day, week after week, month after month. This makes SEO ultra-valuable for ecommerce merchants in a world where paid ads keep …

Cheapest Way to Ship a Package: Beginner's Guide

Finding out the cheapest way to ship a package can be a test for new businesses, so we have put together a short guide to help you get the best rates.More

How to Measure a Box for Shipping—Dimensions & Instructions

Learn how to measure a box correctly to make sure you secure the best rates, ship your products safely and save on shipping costs.More

How To Find the Right Supplier for Your Business

The idea for Unbound Merino came during a backpacking trip and a need for versatile clothing designed with travel in mind. CEO and co-founder Dan Demsky shares how he’s built strong partnerships with his suppliers and was able to run a successful crowdfunding campaign in order to scale Unbound Meri…

How This LGBTQ Book Store Moved From Online to IRL

Queer Lit in Manchester, UK started amid the pandemic but was still able to carry on the tradition of being a community hub.More
Show more

Shopify Frequently Asked Questions

  • When was Shopify founded?

    Shopify was founded in 2004.

  • Who are Shopify key executives?

    Shopify's key executives are Tobi Lütke, Harley Finkelstein and Amy Shapero.

  • How many employees does Shopify have?

    Shopify has 10,000 employees.

  • What is Shopify revenue?

    Latest Shopify annual revenue is $4.6 b.

  • What is Shopify revenue per employee?

    Latest Shopify revenue per employee is $461.2 k.

  • Who are Shopify competitors?

    Competitors of Shopify include GoDaddy, QVC and VTEX.

  • Where is Shopify headquarters?

    Shopify headquarters is located at 151 O'Connor St, Ottawa.

  • Where are Shopify offices?

    Shopify has offices in Ottawa, Dublin and Singapore.

  • How many offices does Shopify have?

    Shopify has 3 offices.