Shopify Inc. (SHOP) FY2026 Q1 Statement of Cash Flows

Income StatementCash FlowBalance Sheet

Statement of Cash Flows

2026-01-01 to 2026-03-31

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Shopify Inc. cash flow reconciliation, Jan 1, 2026 through Mar 31, 2026One connected Sankey reconciles operating, investing and financing net cash flows through a shared cash pool, from beginning cash to ending cash. Ribbons flow left to right on one dollar scale. Activity totals are dark gray; beginning and ending cash are blue. Cash basis for beginning and ending balances and net cash change: Cash, cash equivalents, and restricted cash. Intermediate calculation bars are lighter gray. Net income is green for profit and red for loss. Identified asset purchases, sales and maturities are blue in either cash direction. Purple identifies capital transactions such as borrowing, repayments, share issuance and dividends. Free cash flow is a separate comparison, not an added cash flow. Read chart description and values below for full signed amounts, including zero items.Net loss on equity and other investments → operating reconciliation: $1,061,000,000.00Stock-based compensation → operating reconciliation: $132,000,000.00Provision for transaction and loan losses → operating reconciliation: $48,000,000.00Net loss on equity method investment → operating reconciliation: $21,000,000.00Unrealized foreign exchange loss (gain) → operating reconciliation: $14,000,000.00Amortization and depreciation → operating reconciliation: $7,000,000.00operating reconciliation → Net cash from operating activities: $481,000,000.00operating reconciliation → Net loss for the period: $581,000,000.00operating reconciliation → Deferred income tax recovery: $139,000,000.00operating reconciliation → Changes in operating assets and liabilities: $70,000,000.00operating reconciliation → Revenue related to non-cash consideration: $12,000,000.00Maturities of marketable securities → investing reconciliation: $1,463,000,000.00Repayments and sales of loans → investing reconciliation: $1,043,000,000.00Other → investing reconciliation: $2,000,000.00investing reconciliation → Net cash from investing activities: $310,000,000.00investing reconciliation → Purchases and originations of loans: $1,349,000,000.00investing reconciliation → Purchases of marketable securities: $843,000,000.00investing reconciliation → Purchases of property and equipment: $5,000,000.00investing reconciliation → Purchases of equity and other investments: $1,000,000.00Net cash used in financing activities → financing reconciliation: $485,000,000.00Proceeds from the exercise of stock options → financing reconciliation: $6,000,000.00financing reconciliation → Repurchases of common stock: $491,000,000.00Beginning cash: Cash, cash equivalents, and restricted cash → Cash sources and uses: $1,545,000,000.00Net cash from operating activities → Cash sources and uses: $481,000,000.00Net cash from investing activities → Cash sources and uses: $310,000,000.00Cash sources and uses → Exchange-rate effect: $3,000,000.00Cash sources and uses → Ending cash: Cash, cash equivalents, and restricted cash: $1,848,000,000.00Cash sources and uses → Net cash used in financing activities: $485,000,000.00Net loss for the period: -$581,000,000.00Net loss for the period−$581.00 MAmortization and depreciation: $7,000,000.00Depreciation & amortization+$7.00 MStock-based compensation: $132,000,000.00Stock-based compensation+$132.00 MProvision for transaction and loan losses: $48,000,000.00Credit loss provision+$48.00 MDeferred income tax recovery: -$139,000,000.00Deferred tax balances−$139.00 MChanges in operating assets and liabilities: -$70,000,000.00Other working capital, net−$70.00 MRevenue related to non-cash consideration: -$12,000,000.00Non-cash consideration revenue−$12.00 MNet loss on equity method investment: $21,000,000.00Equity-method results+$21.00 MNet loss on equity and other investments: $1,061,000,000.00Investment value change+$1.06 BUnrealized foreign exchange loss (gain): $14,000,000.00Unrealized FX gain & loss+$14.00 MNet cash from operating activities: $481,000,000.00Operating cash+$481.00 Moperating reconciliation: $1,283,000,000.00Repurchases of common stock: -$491,000,000.00Common stock repurchases−$491.00 MProceeds from the exercise of stock options: $6,000,000.00Stock option exercises+$6.00 MNet cash used in financing activities: -$485,000,000.00. Cash required to fund net payments.Financing cash−$485.00 Mfinancing reconciliation: $491,000,000.00Purchases of marketable securities: -$843,000,000.00Marketable securities purchases−$843.00 MOther: $2,000,000.00Other investing, net+$2.00 MAcquisition of businesses, net of cash acquired: $0.00Purchases and originations of loans: -$1,349,000,000.00Investment loan purchases−$1.35 BRepayments and sales of loans: $1,043,000,000.00Loan & lease repayments+$1.04 BPurchases of equity and other investments: -$1,000,000.00Equity & other investment purchases−$1.00 MPurchases of property and equipment: -$5,000,000.00PP&E purchases−$5.00 MMaturities of marketable securities: $1,463,000,000.00Marketable securities proceeds+$1.46 BNet cash from investing activities: $310,000,000.00Investing cash+$310.00 Minvesting reconciliation: $2,508,000,000.00Cash sources and uses: $2,336,000,000.00Beginning cash: Cash, cash equivalents, and restricted cash: $1,545,000,000.00Beginning cash$1.55 BEnding cash: Cash, cash equivalents, and restricted cash: $1,848,000,000.00Ending cash$1.85 BExchange-rate effect: -$3,000,000.00FX effect−$3.00 MCASH RECONCILIATIONOperatingflowsInvestingflowsFinancingflowsNet loss −$581.00M + net operating adjustments $1.06B = operating cash +$481.00MFree cash flow$476.00 MOperating cash − cash spent on PP&ECash flow / Net incomeNot meaningfulOperating cash flow ÷ net incomeNet cash change+$303.00 MEnding cash − beginning cash
Chart details

Shopify Inc. cash flow reconciliation, Jan 1, 2026 through Mar 31, 2026

Cash flows for Jan 1, 2026 through Mar 31, 2026. Cash basis: Cash, cash equivalents, and restricted cash. Beginning cash: Dec 31, 2025. Ending cash: Mar 31, 2026. Beginning and ending cash are dated balances. Positive cash flows add cash; negative cash flows reduce it.

Beginning cash on Dec 31, 2025
1,545,000,000 US dollars. Beginning cash: Cash, cash equivalents, and restricted cash
Operating activities
481,000,000 US dollars. Net cash provided.
Net loss for the period
negative 581,000,000 US dollars
Amortization and depreciation
7,000,000 US dollars
Stock-based compensation
132,000,000 US dollars
Provision for transaction and loan losses
48,000,000 US dollars
Deferred income tax recovery
negative 139,000,000 US dollars
Changes in operating assets and liabilities
negative 70,000,000 US dollars
Revenue related to non-cash consideration
negative 12,000,000 US dollars
Net loss on equity method investment
21,000,000 US dollars
Net loss on equity and other investments
1,061,000,000 US dollars
Unrealized foreign exchange loss (gain)
14,000,000 US dollars
Investing activities
310,000,000 US dollars. Net cash provided.
Purchases of marketable securities
negative 843,000,000 US dollars
Other
2,000,000 US dollars
Acquisition of businesses, net of cash acquired
0 US dollars
Purchases and originations of loans
negative 1,349,000,000 US dollars
Repayments and sales of loans
1,043,000,000 US dollars
Purchases of equity and other investments
negative 1,000,000 US dollars
Purchases of property and equipment
negative 5,000,000 US dollars
Maturities of marketable securities
1,463,000,000 US dollars
Financing activities
negative 485,000,000 US dollars. Net cash used.
Repurchases of common stock
negative 491,000,000 US dollars
Proceeds from the exercise of stock options
6,000,000 US dollars
Operating adjustment reconciliation
1,283,000,000 US dollars. Intermediate calculation joining the operating reconciliation branches. Its gross amount includes any portion of net income routed through this junction. It is not an additional cash source or use.
financing gross reconciliation
491,000,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
investing gross reconciliation
2,508,000,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
Exchange-rate effect
negative 3,000,000 US dollars
Ending cash on Mar 31, 2026
1,848,000,000 US dollars. Ending cash: Cash, cash equivalents, and restricted cash
Cash sources and uses
2,336,000,000 US dollars. Opening cash plus net sources, equal to net uses plus ending cash.
Net cash change
303,000,000 US dollars. Ending cash minus beginning cash.
Cash flow / Net income
Not meaningful. Operating cash flow divided by reconciliation net income for the same period. The ratio is not meaningful when net income is zero or negative.
Operating cash flow
481,000,000 US dollars. Operating cash flow used in the free cash flow calculation.
Cash purchases of property, plant and equipment
5,000,000 US dollars. These cash purchases are already included in investing activities above.
Free cash flow
476,000,000 US dollars. A supplemental measure; finance-lease payments are excluded from this definition.

Chart connections

  • Beginning cash plus operating, investing and financing cash flows plus the exchange-rate effect equals ending cash. Negative amounts reduce cash.
  • Financing contributions meet at a reconciliation junction before connecting to the net cash total.
  • Investing contributions meet at a reconciliation junction before connecting to the net cash total.
  • Operating reconciliation adjustments are not all independent cash receipts.
  • Net loss −$581.00M + net operating adjustments $1.06B = operating cash +$481.00M. The loss reduces the earnings basis of the reconciliation; it is not a cash payment. The signed loss remains a deduction at the operating reconciliation junction.
  • Each activity has one net cash bar connected to the shared cash pool. Positive activity totals enter the pool; negative activity totals leave the pool to fund that activity's net payments. The central pool does not assign a particular funding source to a particular payment.
  • The intermediate calculation bars include both sides of the displayed activity breakdowns; they are not additional cash flows.
  • Operating cash flow minus cash purchases of property, plant and equipment equals free cash flow: 481,000,000 US dollars minus 5,000,000 US dollars equals 476,000,000 US dollars.
Shopify Inc. (SHOP) FY2026 Q1 Statement of Cash Flows Sankey chart
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