Revenue segments as reported by the company.

Subscription solutions

Merchant solutions

Revenue Segments

Gross Profit, Operating Income, and Net Income as a percentage of Revenue

Gross Margin

Operating Margin

Profit Margin

Margins

An operating expense is an expense a business incurs through its normal business operations. Often abbreviated as OPEX.

Transaction & Loan losses

Impairment on sales of Shopify's logistics businesses

Operating Expenses

Year over year growth in Revenue and Operating Expenses.

Revenue Y/Y

OpEx Y/Y

Growth

Shares outstanding refer to a company's stock currently held by all its shareholders, including share blocks held by institutional investors and restricted shares owned by the company's officers and insiders.

Outstanding Shares

Market Cap

Also known as Price/Sales Ratio. Calculated using Average market cap for the quarter / Annualized quarterly revenue.

Revenue Multiple

Short interest is the total number of shares lent out as per latest regulatory filings. Updated twice a month per FINRA reporting.

Short float is the total number of shares currently held as short positions divided by the total float as per latest regulatory filings. Updated twice a month per FINRA reporting.

Short float

Shorting

Short interest

Shopify Inc

Shopify, Inc. operates a cloud-based commerce platform designed for small and medium-sized businesses. Its software is used by merchants to run business across all sales channels, including web, tablet and mobile storefronts, social media storefronts, and brick-and-mortar and pop-up shops. The firm's platform provides merchants with a single view of business and customers and enables them to manage products and inventory, process orders and payments, build customer relationships and leverage analytics and reporting. It focuses on merchant and subscription solutions. The company was founded on September 28, 2004 and is headquartered in Ottawa, Canada.

Earnings data Q1 2023

Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

Earnings data Q1 2025

Earnings data Q2 2025

Earnings data Q3 2025

Earnings data Q4 2025

Earnings data Q1 2026

Earnings data Q2 2026

Earnings data Q3 2026

Earnings data Q4 2026

Shopify reports robust Q2 earnings, surpasses $1 trillion GMV milestone

Shopify's Q2 performance showcases strong revenue growth, improved profitability, and milestone achievements.
The company's focus on cross-border selling, off-line GMV, and B2B segments highlights diversification and growth potential.
While challenges exist in sustaining growth and managing competition, Shopify's strategic initiatives and strong financial metrics position it well for future success.

Shopify reports robust Q3 results, eyes growth through partnerships

Shopify's Q3 performance reflects strong growth across key metrics, underpinned by a focus on entrepreneurship and product innovation.
While challenges exist in a competitive market and economic uncertainties, Shopify's strategic initiatives and partnerships offer growth opportunities.
The company's commitment to supporting merchants, expanding its product suite, and driving engagement positions it for continued success in the e-commerce space.

Shopify excels in Q4 2024, eyes global expansion and innovation

Shopify's Q4 2024 earnings reflect robust growth, financial strength, and a clear strategic vision for long-term success. The company's focus on merchant empowerment, global expansion, and operational efficiency underpins its strong performance and positions it well for future opportunities and challenges.

Shopify excels in Q1 2025, faces margin pressures and AI challenges

Shopify's Q1 2025 performance reflects strong revenue growth and merchant support initiatives. Challenges include maintaining margins, AI integration impact, and competitive differentiation. Opportunities exist in expanding cross-border trade, AI advancements, and emerging markets. Overall, Shopify's focus on innovation and merchant resilience drives growth and adaptation.

Shopify reports stellar Q2 results, eyes AI partnership opportunities

Shopify's Q2 2025 earnings call highlighted strong financial results, strategic initiatives, and partnerships with global brands. The company's focus on innovation in AI, upmarket success, and continuous expansion presents a promising outlook. Challenges in increased marketing spend and AI integration are acknowledged, but opportunities for growth and partnership remain key drivers.

Shopify excels in Q3 with strong growth, AI adoption, and enterprise success

Shopify's Q3 performance reflects a strong balance between growth and profitability, with notable success in AI adoption, international markets, and enterprise partnerships. The company's strategic focus on advertising, AI development, and merchant success aligns with its commitment to sustainable growth and delivering on promises. While challenges exist in maintaining growth momentum and balancing investments, Shopify's ability to execute at scale and drive durable results positions it well for future opportunities. Overall, Shopify's performance highlights its resilience, adaptability, and strategic foresight in navigating the dynamic e-commerce landscape.

Shopify reports record-breaking earnings, focuses on AI-driven growth strategy

Shopify's Q4 2025 earnings call highlighted robust financial performance, strong growth in GMV and revenue, and a focus on AI-driven commerce through initiatives like the Universal Commerce Protocol (UCP). The company's strengths lie in its financial achievements, international expansion, and emphasis on AI tools, while facing challenges related to revenue strategies, competition, and balancing technology with customer needs. Opportunities for Shopify include leveraging AI technologies for further platform enhancement, driving revenue growth, and solidifying its position in the e-commerce market through continued innovation and expansion.

Shopify excels in Q1 2026, leveraging AI for growth

Shopify's Q1 2026 performance reflects robust growth in GMV, revenue, and strategic initiatives, setting the stage for future success. The company's emphasis on AI, enterprise growth, and financial services expansion showcases adaptability and innovation. While challenges like cost management and scalability exist, Shopify's strong performance and market positioning offer growth opportunities. Overall, Shopify's Q1 performance and strategic focus position them well for continued market share expansion and success in the AI era.

Shopify reports stellar Q2 results, eyes AI innovation for growth

Shopify's Q2 performance reflects strong growth, a focus on enhancing the merchant experience, and strategic investments in infrastructure and partnerships. While challenges around AI, monetization, and evolving technologies persist, Shopify's dedication to innovation and entrepreneurship positions it well for future success. The company's ability to leverage AI, expand market reach, and drive merchant success underscores its resilience and potential for continued growth.

Shopify posts 32% revenue growth amid agentic commerce surge

Shopify delivered a strong Q3 2026, with revenue up 32% to $3.7 billion and GMV reaching $119 billion (up ~30%), marking the sixth consecutive quarter of that growth rate. Free cash flow came in at $816 million (22% margin), and the company demonstrated continued operating leverage with OpEx falling to 32% of revenue from 37% a year ago. A key theme was Shopify's dual positioning: serving merchants in today's reality while building the infrastructure for the emerging agentic commerce era, with all major personal agents (Muse, Instinct, Claude Duet, Grokbot) now partnered with Shopify. Q4 2026 guidance calls for revenue growth in the low 30s year-over-year, gross profit growth in the high 20s, and free cash flow margins roughly in line with Q4 last year.

Revenue

Cost of revenue

Gross profit

Operating expenses

SG&A

Other

Operating income

EBITDA

Net income

Earnings per share

Total assets

Current assets

Cash & equivalents

Receivables

Inventory

Non-current assets

Net PPE

Intangibles

Total liabilities

Current liabilities

Short term debt

Income tax payable

Non-current liabilities

Long-term debt

Total equity

Stockholders equity

Minority interest

Total liabilities & equity

Total debt

Net debt

Book value per share

Cash from operations

Funds from operations

Change in working capital

Cash from investing

Capital expenditure

Purchase/sale of investments

Purchase/sale of business

Other sources

Cash from financing

Change in stock

Change in debt

Cash dividends paid

Cash from other sources

Net change in cash

Free cash flow

Shopify, Inc. is a global commerce company that provides essential internet infrastructure for commerce, offering trusted tools to start, scale, market, and run a retail business of any size. The Company's software enables merchants to run their business across all of their sales channels, including web and mobile storefronts, physical retail locations, social media storefronts and marketplaces. The Shopify platform provides merchants with a single view of their business across all of their sales channels and enables them to manage products and inventory, process orders and payments, fulfill and ship orders, build customer relationships, source products, leverage analytics and reporting and access financing, all from one integrated back office. The company was founded on September 28, 2004 and is headquartered in Ottawa, Canada.