As of Q4'25 (2025-12-31), Shopify reported net income of USD 743M, reflecting a YoY change of -42.54%. This latest figure marks a significant rebound from the loss of USD 682M in Q1'25, but the negative YoY growth indicates a decline compared to the same quarter in the previous year. Over the period from Q1'23 to Q4'25, Shopify's net income has shown considerable volatility, with multiple sharp swings between profit and loss. Notable inflection points include a major loss of USD 1.31B in Q2'23, followed by strong recoveries in subsequent quarters, and another substantial loss in Q1'25. Despite intermittent quarters of robust profitability—such as USD 1.29B in Q4'24—the overall trend is characterized by instability, underscored by fluctuating YoY growth rates that alternate between strong gains and steep declines.