Shopify Overview
Shopify is an Ottawa-based commerce platform that reported $11.556 billion of FY2025 revenue and $1.231 billion of net income. It had about 7,600 employees at year-end 2025 and is led by co-founder Tobias Lutke.
How Shopify Makes Money
Shopify makes money from Subscription Solutions, including recurring software plans, Shopify Plus, point-of-sale subscriptions, apps, and themes, and Merchant Solutions, including Shopify Payments, Shop Pay, Shopify Capital, shipping, fulfillment-related services, and other merchant services tied to transaction volume.
Shopify Financials
Shopify reported FY2025 revenue of $11.556 billion, compared with $8.880 billion in FY2024 and $7.060 billion in FY2023. Net income was $1.231 billion in FY2025, compared with $2.019 billion in FY2024 and $132 million in FY2023.
Competitive Position
Shopify competes with Amazon, WooCommerce, BigCommerce, Salesforce Commerce Cloud, Wix, Square, and other commerce platforms. It differs from Amazon by giving merchants their own storefront and infrastructure instead of forcing them primarily into a marketplace.
