Shopify Earnings Reports

Shopify delivered an outstanding Q2 2025 with 31% revenue growth, high free cash flow, and significant net income driven by gains from equity investments.

In Q1 2025, Shopify delivered $2.36B in revenue, driven by growth in both subscription and merchant solutions. However, the company posted a $682M net loss primarily due to a $1B unrealized loss on equity investments.

Shopify delivered strong Q4 results, achieving 31% YoY revenue growth and expanding free cash flow margin to 22%. Operating income grew 61% YoY, and GMV reached $94.46 billion, marking its highest growth rate in three years. Net income more than doubled compared to the previous year, reflecting improved profitability.