Financial Statements — SHOP
Balance Sheet
(in billions USD)| Metric | Q2 2026 | Q1 2026 | Q3 2025 | Q2 2025 | Q1 2025 |
|---|---|---|---|---|---|
| Cash & Equivalents | 1.66 | 1.85 | 2.41 | 1.54 | 1.31 |
| Short-term Investments | 3.29 | 3.90 | 3.94 | 4.28 | 4.21 |
| Accounts Receivable | -- | 0.45 | 0.40 | 0.35 | 0.30 |
| Total Current Assets | 7.82 | 8.49 | 8.71 | 8.00 | 7.45 |
| Property, Plant & Equipment | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 |
| Goodwill | 0.49 | 0.49 | 0.49 | 0.49 | 0.49 |
| Intangible Assets | 0.03 | 0.03 | 0.02 | 0.03 | 0.03 |
| Total Non-current Assets | 6.65 | 5.63 | 6.33 | 6.56 | 5.96 |
| Total Assets | 14.47 | 14.12 | 15.04 | 14.56 | 13.40 |
| Accounts Payable | 1.12 | 1.03 | 0.97 | 0.84 | 0.78 |
| Total Current Liabilities | 1.46 | 1.37 | 2.21 | 2.08 | 2.01 |
| Total Non-current Liabilities | 0.33 | 0.25 | 0.32 | 0.36 | 0.34 |
| Total Liabilities* | 1.79 | 1.62 | 2.53 | 2.44 | 2.35 |
| Retained Earnings | 3.78 | 2.28 | 2.12 | 1.85 | 0.95 |
| Total Stockholder Equity | 12.68 | 12.50 | 12.51 | 12.12 | 11.05 |
* Derived from reported values
Income Statement
(in billions USD) (except per-share rows)| Metric | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|---|
| Total Revenue | 3.58 | 3.17 | 3.67 | 2.84 | 2.68 | 2.36 | 2.81 |
| Cost of Revenue | 1.88 | 1.62 | 1.98 | 1.45 | 1.38 | 1.19 | 1.46 |
| Gross Profit | 1.71 | 1.55 | 1.69 | 1.39 | 1.30 | 1.17 | 1.35 |
| Research & Development | 0.45 | 0.44 | 0.39 | 0.38 | 0.39 | 0.38 | 0.35 |
| Selling, General & Admin | 0.14 | 0.12 | 0.13 | 0.12 | 0.12 | 0.11 | 0.11 |
| Total Operating Expenses | 1.22 | 1.16 | 1.06 | 1.05 | 1.01 | 0.97 | 0.89 |
| Operating Income | 0.49 | 0.38 | 0.63 | 0.34 | 0.29 | 0.20 | 0.47 |
| Pretax Income* | 1.78 | (0.63) | 0.89 | 0.31 | 1.08 | (0.77) | 1.42 |
| Tax Provision | 0.27 | (0.05) | 0.15 | 0.04 | 0.17 | (0.09) | 0.13 |
| Net Income | 1.50 | (0.58) | 0.74 | 0.26 | 0.91 | (0.68) | 1.29 |
| Basic EPS | 1.16 | (0.45) | 0.58 | 0.20 | 0.70 | (0.53) | 1.01 |
| Diluted EPS | 1.16 | (0.45) | 0.58 | 0.20 | 0.69 | (0.53) | 0.99 |
* Derived from reported values
Cash Flow Statement
(in billions USD)| Metric | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 0.66 | 0.48 | 0.73 | 0.51 | 0.43 | 0.37 | 0.62 |
| Capital Expenditures | 0.00 | 0.01 | 0.01 | 0.01 | 0.01 | 0.00 | 0.00 |
| Free Cash Flow* | 0.65 | 0.48 | 0.72 | 0.51 | 0.42 | 0.36 | 0.61 |
| Investing Cash Flow | 0.57 | 0.31 | (0.65) | 0.34 | (0.25) | (0.62) | (0.66) |
| Financing Cash Flow | (1.42) | (0.48) | (0.94) | 0.02 | 0.04 | 0.06 | 0.05 |
* Derived from reported values