Research / Stocks / SHOP SHOP Nasdaq CIK 0001594805
SHOPIFY INC. · Services-Prepackaged Software
COVERAGE / STANDARD
Latest filing 10-Q · Aug 5, 2026
Research state Latest filing analysis is current
Last SEC check Sep 13, 2026
Data basis Official SEC · no quote feed Component status Filing Evidence Research Current Official SEC filing history is available
Structured Financials Research Current Validated structured financial research is available
Filing Analysis Research Current No filing analysis job is currently running
Fundamental State Research Current Fundamental State depends on validated comparable financial metrics
RESEARCH SNAPSHOT SHOPIFY INC.'s latest supported as-filed period reports revenue of $3.6B ; gross margin moved 91 basis points lower on the same comparison basis. Every value below links to its SEC accession and metric lineage.
Deterministic / evidence backed Key research observations No material rule-based research observation currently meets GrossPattern's Insight value threshold. Current state, direction, and filing evidence remain available below.
Current configuration / point in time Fundamental state A multidimensional view of the latest comparable filing—not a composite score or recommendation.
Capex intensity RAW Current state valid · history insufficient
Method Level · gp.fundamentals.capex_revenue_ratio
Raw value 0.11% · OPTIONAL
Operating cash generation RAW Current state valid · history insufficient
Method Ratio · gp.fundamentals.operating_cash_flow + gp.fundamentals.revenue
Raw value 18.36% · OPTIONAL
Revenue growth RAW Current state valid · history insufficient
Method Yoy · gp.fundamentals.revenue
Raw value 33.69% · CORE
Gross margin RAW Current state valid · history insufficient
Method Level · gp.fundamentals.gross_margin
Raw value 47.67% · CORE
Operating margin RAW Current state valid · history insufficient
Method Level · gp.fundamentals.operating_margin
Raw value 13.62% · CORE
R&D intensity RAW Current state valid · history insufficient
Method Ratio · gp.fundamentals.rnd + gp.fundamentals.revenue
Raw value 12.42% · OPTIONAL
SBC intensity RAW Current state valid · history insufficient
Deterministic multi-period research Company direction Business direction, financial quality, capital allocation, and governance evidence remain separate—never collapsed into a recommendation score.
As filed Jun 30, 2026 General Corporate
Governance Evidence 3 evidence-backed dimensions Filing Amendments Observed Auditor Changes None Detected Sbc Intensity Observed [email protected] · 7 historical states · 50% confidenceInterpretation boundary Direction describes measurable company fundamentals. Governance reports observable evidence only; it does not grade management character or predict stock returns.
Comparable evidence Peer context Latest available comparable states within 180 days, normalized with robust median/MAD statistics.
Margin
SHOP 47.7
Peer median 72.6
Peer percentile 14th 131 valid peers · 83% coverage · -1.8 robust σ Growth
SHOP 33.7
Peer median 10.6
Peer percentile 86th 129 valid peers · 82% coverage · +1.6 robust σ Sbc Intensity
SHOP 3.6
Peer median 10.9
Peer percentile 13th 142 valid peers · 90% coverage · -0.9 robust σ R And D Intensity
SHOP 12.4
Peer median 21.6
Peer percentile 21th 131 valid peers · 83% coverage · -0.8 robust σ Capex Intensity
SHOP 0.1
Peer median 1.0
Peer percentile 8th 124 valid peers · 79% coverage · -0.7 robust σ Profitability
SHOP 13.6
Peer median -1.8
Peer percentile 80th 148 valid peers · 94% coverage · +0.7 robust σ Open group breadth → Divergence is context, not positive or negative. Flagship analysis / V3 What changed? The most important deterministic changes, ranked by magnitude, issuer history, persistence, and accounting profile.
Current 10-Q 0001594805-26-000047 13 governed changes · top 7 shown
01
INFORMATIONAL IMPORTANCE Financial Value
Capex / revenue decreased by 0.11 points Capex / revenue moved -0.11 percentage points from the comparable as-filed period.
Why this ranks here · [email protected] 0.22% → 0.11% Comparable → current
02
HIGH IMPORTANCE Financial Value
Capital expenditure decreased 33.3% Capital expenditure changed -33.3% from the comparable as-filed period.
Why this ranks here · [email protected] $6.0M → $4.0M Comparable → current
03
LOW IMPORTANCE Financial Value
Cash & equivalents increased 7.4% Cash & equivalents changed +7.4% from the comparable as-filed period.
Why this ranks here · [email protected] $1.5B → $1.7B Comparable → current
04
HIGH IMPORTANCE Financial Value
Free-cash-flow proxy increased 55.0% Free-cash-flow proxy changed +55.0% from the comparable as-filed period.
Why this ranks here As-filed financials Financial trajectory Each point keeps the date investors could first observe it and its accession.
As filed Current normalized · later
Capex / revenue 0.11% +0.0% ↑ Capital expenditure $4.0M -20.0% ↓ Cash & equivalents $1.7B +0.0% ↑ Free-cash-flow proxy $654.0M +0.0% ↑ Gross margin 47.67% +0.0% ↑ Interest income $66.0M -12.0% ↓ Inventory $21.0M -19.2% ↓ Net income $1.5B +358.5% ↑
ACTIVE TRACE Revenue SHOP · as filed with the SEC · reported-date aware
Capex / revenue Q2 / 2026-06-30 0.11% +0.0% sequential point Trace ↗ Evidence inspector
Loading lineage… × Capital expenditure Q2 / 2026-06-30 $4.0M -20.0% sequential point Trace ↗ Evidence inspector
Loading lineage… × Cash & equivalents Q2 / 2026-06-30 $1.7B +0.0% sequential point Trace ↗ Evidence inspector
Loading lineage… × Free-cash-flow proxy Q2 / 2026-06-30 $654.0M +0.0% sequential point Trace ↗ Evidence inspector
Loading lineage… × Gross margin Q2 / 2026-06-30 47.67% +0.0% sequential point Trace ↗ Evidence inspector
Loading lineage… × Interest income Q2 / 2026-06-30 $66.0M -12.0% sequential point Trace ↗ Evidence inspector
Loading lineage… × Inventory FY / 2025-12-31 $21.0M -19.2% sequential point Trace ↗ Evidence inspector
Loading lineage… × Net income Q2 / 2026-06-30 $1.5B +358.5% sequential point Trace ↗ Evidence inspector
Loading lineage… × Operating cash flow Q2 / 2026-06-30 $658.0M +36.8% sequential point Trace ↗ Evidence inspector
Loading lineage… × Operating margin Q2 / 2026-06-30 13.62% +0.0% sequential point Trace ↗ Evidence inspector
Loading lineage… × Research & development Q2 / 2026-06-30 $445.0M +1.8% sequential point Trace ↗ Evidence inspector
Loading lineage… × Revenue Q2 / 2026-06-30 $3.6B +13.0% sequential point Trace ↗ Evidence inspector
Loading lineage… × Primary evidence Filing timeline Direct SEC links, filing dates, report periods, and amendment flags.
10-Q Aug 5, 2026 Period Jun 30, 2026 0001594805-26-000047SEC ↗ 8-K Aug 5, 2026 Period Aug 5, 2026 0001594805-26-000046SEC ↗ 8-K Jul 2, 2026 Period Jul 2, 2026 0001594805-26-000035SEC ↗ 8-K Jun 16, 2026 Period Jun 16, 2026 0001594805-26-000030SEC ↗ 8-K Jun 2, 2026 Period Jun 2, 2026 0001594805-26-000028SEC ↗ 8-K May 8, 2026 Period May 8, 2026 0001594805-26-000022SEC ↗ 10-Q May 5, 2026 Period Mar 31, 2026 0001594805-26-000019SEC ↗ 8-K Form 4 Insider activity Transaction semantics distinguish purchases, sales, awards, exercises, withholding, and derivatives.
“Insider purchase” rule Code P · non-derivative · acquired · direct ownership · positive price and shares · not amended
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