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Mar 31
Shopify Q1 2025 Earnings Report
Shopify reported strong revenue growth but incurred a large net loss due to investment-related expenses.
Key Takeaways
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.
Revenue reached $2.36 billion, continuing strong top-line momentum.
GAAP net loss was $682 million, heavily impacted by a $1 billion unrealized investment loss.
GAAP EPS was $(0.53), while non-GAAP EPS was $0.25.
Operating income remained positive at $203 million, indicating core business profitability.
Shopify
Shopify
Shopify Revenue by Segment
Revenue by Segment
Subscription Solutions Revenue
CapyFin.comMerchant Solutions Revenue
CapyFin.com Forward Guidance
No specific forward guidance was included in the earnings report.
Revenue & Expenses
Visualization of income flow from segment revenue to net income