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Shopify

SHOP · Information Technology

Last earnings Aug 5, 2026

Key results

Revenuequarter

31%

Shopify achieved 31% revenue growth and 16% free cash flow margin , marking eight consecutive quarters of double-digit free cash flow margins.

SEC original ↗Shopify — Earnings release (8-K exhibit)EX-99Aug 6, 2025

YoY revenuequarter

31 %

Selected Business Performance Information (1) (In US $ millions, except percentages) Three months ended June 30, 2025 June 30, 2024 GMV 87,837 67,245 MRR 185 169 Revenue 2,680 2,045 Gross profit 1,302 1,045 Operating income 291 241 Free cash flow 422 333 YoY revenue growth rate 31 % 21 % Free cash flow margin 16 % 16 % (1) See endnotes below for definitions of GMV and MRR and additional information on free cash flow and free cash flow margin, which are non-GAAP financial measures and are rec onciled to the comparable GAAP measures in the non-GAAP reconciliation at the end of this press release.

SEC original ↗Shopify — Earnings release (8-K exhibit)EX-99Aug 6, 2025

Free cash flowquarter

16 %

Selected Business Performance Information (1) (In US $ millions, except percentages) Three months ended June 30, 2025 June 30, 2024 GMV 87,837 67,245 MRR 185 169 Revenue 2,680 2,045 Gross profit 1,302 1,045 Operating income 291 241 Free cash flow 422 333 YoY revenue growth rate 31 % 21 % Free cash flow margin 16 % 16 % (1) See endnotes below for definitions of GMV and MRR and additional information on free cash flow and free cash flow margin, which are non-GAAP financial measures and are rec onciled to the comparable GAAP measures in the non-GAAP reconciliation at the end of this press release.

SEC original ↗Shopify — Earnings release (8-K exhibit)EX-99Aug 6, 2025

AI analysis

Q3 2025 · reported Aug 6, 2025

Based on: Earnings release + parent 8-K + 10-Q — transcript not held

Headline figures

MetricQ3 2025Prior qtrYear ago
Revenue31%——
YoY revenue31 %——
Free cash flow16 %——

EX-99 · Aug 6, 2025

Guidance · company-stated

No guidance located in the held release

Stated figure33% to 34%
Next earningsNo verified date on fileNo date is estimated or imported

Cash flow & capex

Free cash flow16 %

Capital allocation

Free cash flow is a non-GAAP financial measure calculated as cash flow from operations less capital expenditures.

The Company's debt investments in convertible notes of private companies are recorded at fair value, which are impacted by the underlying entities' valuations and interest rates.

General educational research only — not investment advice.Every figure is as stated in the held documents; values marked “computed from stated figures” are arithmetic on those stated figures. Guidance shown is the company’s own stated guidance. No price targets, no recommendations, no consensus estimates.

Event summary

(NASDAQ, TSX SHOP) announced today financial results for the quarter ended June 30, 2025

Based on: Earnings release + parent 8-K + 10-Q — transcript not held

Guidance & outlook

No guidance located in the held release

Capital allocation

Free cash flow is a non-GAAP financial measure calculated as cash flow from operations less capital expenditures.

SEC original ↗Shopify — Earnings release (8-K exhibit)EX-99Aug 6, 2025

The Company's debt investments in convertible notes of private companies are recorded at fair value, which are impacted by the underlying entities' valuations and interest rates.

SEC original ↗Shopify — 10-Q Quarterly report10-QAug 5, 2026

Debt Securities The Company holds certain debt securities that are classified as held-to-maturity at the time of purchase as the Company has both the positive intent and ability to hold to maturity.

SEC original ↗Shopify — 10-Q Quarterly report10-QAug 5, 2026

The Company also holds debt securities in the form of convertible notes in private companies classified as available-for-sale for which the Company has elected to apply the fair value option.

SEC original ↗Shopify — 10-Q Quarterly report10-QAug 5, 2026

The following tables summarize debt securities by balance sheet classification and level within the fair value hierarchy: June 30, 2026 Carrying Value Cash Equivalents Marketable Securities Long-term Investments Equity and Other Investments Fair Value (in US $ millions) Level 1: U.

SEC original ↗Shopify — 10-Q Quarterly report10-QAug 5, 2026

The following table outlines estimated fair values of our debt securities by date of contractual maturity as of June 30, 2026: Fair Value (in US $ millions) Due within one year 3,323 Due after one year to three years 523 3,846 13 Table of Contents Equity Securities The Company holds equity investments in public and private companies that were obtained through a combination of direct investment and strategic partnerships.

SEC original ↗Shopify — 10-Q Quarterly report10-QAug 5, 2026

Strategy & priorities

In some cases, you can identify forward-looking statements by terminology such as "enable", "may", "might", "will", "should", "could", "expects", "focused on", "intends", "plans", "anticipates", "believes", "predicts", "potential", "continue", "become", "seek", "strive" or the negative of these terms or other similar words.

SEC original ↗Shopify — 10-Q Quarterly report10-QAug 5, 2026

Although we believe that the plans, intentions, expectations, assumptions and strategies reflected in our forward-looking statements are reasonable, these statements relate to future events or our future financial performance, and involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control.

SEC original ↗Shopify — 10-Q Quarterly report10-QAug 5, 2026

The following table outlines estimated fair values of our debt securities by date of contractual maturity as of June 30, 2026: Fair Value (in US $ millions) Due within one year 3,323 Due after one year to three years 523 3,846 13 Table of Contents Equity Securities The Company holds equity investments in public and private companies that were obtained through a combination of direct investment and strategic partnerships.

SEC original ↗Shopify — 10-Q Quarterly report10-QAug 5, 2026

The Company has received non-cash consideration in the form of equity investments in exchange for services to be rendered as part of strategic partnerships.

SEC original ↗Shopify — 10-Q Quarterly report10-QAug 5, 2026

Risks & headwinds

These risks include, but are not limited to, the Company s ability to maintain expected growth and manage expenses, the impact of changes in economic conditions and consumer spending in key markets such as the United States, and Europe, and globally, the impact of measures that affect international trade, including tariffs, our reliance on third party cloud providers to deliver services, a cyberattack or security breach, and serious errors or defects in software or hardware.

SEC original ↗Shopify — Earnings release (8-K exhibit)EX-99Aug 6, 2025

Factors that may cause actual results to differ materially from current expectations may include, but are not limited to, risks and uncertainties that are discussed in greater detail in Part I Item 1A "Risk Factors" of the Company s Annual Report on Form 10-K for the year ended December 31, 2025 (the "2025 Form 10-K"), as well as in our condensed consolidated financial statements, related notes, and the other information appearing elsewhere in this report and our other filings with the Securities and Exchange Commission ("SEC").

SEC original ↗Shopify — 10-Q Quarterly report10-QAug 5, 2026

Although we believe that the plans, intentions, expectations, assumptions and strategies reflected in our forward-looking statements are reasonable, these statements relate to future events or our future financial performance, and involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control.

SEC original ↗Shopify — 10-Q Quarterly report10-QAug 5, 2026

If one or more of these risks or uncertainties occur, or if our underlying assumptions prove to be incorrect, actual results may vary significantly from those implied or projected by the forward-looking statements.

SEC original ↗Shopify — 10-Q Quarterly report10-QAug 5, 2026

New risks and uncertainties emerge from time to time, and it is not possible for us to predict all risks and uncertainties that could have an impact on the forward-looking statements contained in this Quarterly Report on Form 10-Q.

SEC original ↗Shopify — 10-Q Quarterly report10-QAug 5, 2026

Contingencies Litigation and Loss Contingencies From time to time, the Company may become a party to litigation and subject to claims incidental to the ordinary course of business, including intellectual property claims, labor and employment claims and threatened claims, breach of contract claims, tax and other matters.

SEC original ↗Shopify — 10-Q Quarterly report10-QAug 5, 2026

Documents

Earnings deck slides

1 deck with slide view

Competitors

Competitors & peers

Same GICS sector — classification peers, not declared competitors

Microsoft (MSFT) Information TechnologyTeradyne (TER) Information TechnologyASML Holding (ASML) Information TechnologyMicron Technology (MU) Information TechnologySeagate Technology (STX) Information TechnologyUnited Microelectronics (UMC) Information TechnologyMonolithic Power Systems (MPWR) Information TechnologyCoherent Corp. (COHR) Information Technology

Filings

75 documents

Earnings releases

21 documents

Presentations

1 document

Transcripts

0 documents

No transcripts for Shopify are held in this edition of the library.

Mentioned by

22 companies

Other tracked companies whose held documents mention Shopify by name or ticker. A mention is counted once per document, from the document text the library holds.

See also the earnings calendar for every tracked company’s next earnings date.