Shopify/$SHOP

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About Shopify

Shopify offers an e-commerce platform primarily to small and medium-size businesses. The firm has two segments. The subscription solutions segment allows Shopify merchants to conduct e-commerce on a variety of platforms, including the company's website, physical stores, pop-up stores, kiosks, social networks (Facebook), and Amazon. The merchant solutions segment offers add-on products for the platform that facilitate e-commerce and include Shopify Payments, Shopify Shipping, and Shopify Capital.

Ticker

$SHOP

Sector

Business services
Primary listing

Employees

8,100

Headquarters

Ottawa, Canada

Shopify Metrics

BasicAdvanced
$211B
90.70
$1.79
2.70
-

What the Analysts think about Shopify

Analyst ratings (Buy, Hold, Sell) for Shopify stock.

Bulls say / Bears say

Shopify’s Q2 2025 revenue grew 31% year-over-year to $2.68 billion, surpassing analyst estimates and marking its strongest top-line result since 2021 (WSJ)
Gross merchandise volume on Shopify’s platform rose 31% to $87.84 billion in Q2, with European GMV up 42% on a constant-currency basis, highlighting the success of its international expansion strategy (WSJ)
Merchant Solutions revenue surged 37% year-over-year to $2.02 billion in Q2, making up 75.5% of total revenue and indicating strong uptake of Shopify Payments and financing products (WSJ)
Shopify projects Q3 operating expenses at 38%–39% of revenue and expects $130 million in stock-based compensation, indicating ongoing cost pressure that could impact margins (WSJ)
Shopify's stock trades at over 90 times forward earnings—almost three times Amazon’s multiple—raising concerns about valuation if revenue growth slows (FT)
High transaction fees (up to 2%) for Shopify Payments may lead larger merchants to switch to other platforms, putting revenue stability and merchant retention at risk (FT)
Data summarised monthly by Lightyear AI. Last updated on 4 Oct 2025.

Shopify Financial Performance

Revenues and expenses
QuarterlyAnnual
Q3 24
QoQ growth
Revenue
$37B
-39.75%
Net income
$45B
107.52%
Profit margin
37.65%
6.78%

Shopify Earnings Performance

Company profitability
QuarterlyAnnual
Q4 23
Q1 24
Q2 24
Q3 24
Q4 24
Actual
$3.69
$2.85
$2.45
$2.42
-
Expected
$3.55
$2.61
$2.05
$2.31
$3.94
Surprise
3.94%
9.20%
19.51%
4.63%
-
Data displayed above is indicative only and its accuracy or completeness is not guaranteed. Actual execution price may vary. Past performance is not indicative of future results. Your return may be affected by currency fluctuations and applicable fees and charges. Capital at risk.
Real-time US market data is sourced from the IEX order book provided by Polygon. After-hours US market data is 15 minutes delayed and may differ significantly from the actual tradable price at market open.

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