SHOP logo Shopify +
Shopify
+
Revenue breakdown by Products & Services
Revenue breakdown by Geography

Shopify's Revenue by Segment

In fiscal year 2025, Shopify's revenue by segment (products & services) are as follows:

  • Service: $8.80 B
  • Subscription and Circulation: $2.75 B

Learn more about Shopify’s Revenue by Geography

Check out competitors to Shopify in a side-by-side comparison.

Explore additional financial metrics for Shopify.

Continue reading...

The above chart shows Shopify's revenue percentage share by segment (products and services).

In fiscal year 2023, Shopify's revenue by segment is as follows:

  • Merchant Solutions generated $5.32 B in revenue, representing 73.98% of its total revenue.
  • Subscription Solutions generated $1.87 B in revenue, representing 26.02% of its total revenue.

The biggest segment for Shopify is the Merchant Solutions, which represents 73.98% of its total revenue.
The smallest segment for Shopify is the Subscription Solutions, which represents 26.02% of its total revenue.

The above chart shows Shopify's revenue percentage share by segment (products and services).

In fiscal year 2024, Shopify's revenue by segment is as follows:

  • Service generated $6.53 B in revenue, representing 73.54% of its total revenue.
  • Subscription and Circulation generated $2.35 B in revenue, representing 26.46% of its total revenue.

The biggest segment for Shopify is the Service, which represents 73.54% of its total revenue.
The smallest segment for Shopify is the Subscription and Circulation, which represents 26.46% of its total revenue.

The above chart shows Shopify's revenue percentage share by segment (products and services).

In fiscal year 2025, Shopify's revenue by segment is as follows:

  • Service generated $8.80 B in revenue, representing 76.19% of its total revenue.
  • Subscription and Circulation generated $2.75 B in revenue, representing 23.81% of its total revenue.

The biggest segment for Shopify is the Service, which represents 76.19% of its total revenue.
The smallest segment for Shopify is the Subscription and Circulation, which represents 23.81% of its total revenue.
Continue reading...

Summary Table

Products & Services (Percent Share) 2023 2024 2025
Merchant Solutions 73.98% - -
Subscription Solutions 26.02% - -
Service - 73.54% 76.19%
Subscription and Circulation - 26.46% 23.81%
Total Revenue 100% 100% 100%

The above chart shows the revenue trend of different segments of Shopify.

In fiscal year 2025, the Service generated the most revenue ($8.80 B), and the Subscription and Circulation generated the least revenue ($2.75 B).

The above chart shows growth drivers and a year-over-year comparison of different segments' revenue.

  • Service revenue increased 34.82% ($2.27 B) from $6.53 B (in 2024) to $8.80 B (in 2025).
  • Subscription and Circulation revenue increased 17.11% ($402.00 M) from $2.35 B (in 2024) to $2.75 B (in 2025).
    • Continue reading...

    Summary Table

    Products & Services 2023
    Value Change
    		2024
    Value Change
    		2025
    Value Change
    Merchant Solutions $5.32 B - - - - -
    Service - - $6.53 B - $8.80 B
    34.82%
    Subscription and Circulation - - $2.35 B - $2.75 B
    17.11%
    Subscription Solutions $1.87 B - - - - -
    Total Revenue $7.06 B - $8.88 B
    25.78%
    		$11.56 B
    30.14%

    Frequently Asked Questions

    What was Shopify's largest product segment last year?

    In fiscal year 2025, Service revenue reached $8.80 Billion, representing 76.19% of Shopify's total revenue and making it the largest segment for the company.

    Which product segment experienced the highest growth for Shopify last year?

    The Service segment is Shopify's highest growth segment, with a revenue growth of +34.82% in 2025 compared to 2024.

    Related company

    Submit feedback to Bullfincher