Earnings summaries and quarterly performance for SHOPIFY.
Research analysts who have asked questions during SHOPIFY earnings calls.
Colin Sebastian
Baird
6 questions for SHOP
Also covers: ABNB, AMZN, CART +10 more
MZ
Mark Zgutowicz
The Benchmark Company
4 questions for SHOP
Also covers: CART, CRTO, DASH +7 more
Michael Morton
MoffettNathanson
4 questions for SHOP
Also covers: AMZN, CART, CHWY +5 more
Andrew Boone
JMP Securities
3 questions for SHOP
Also covers: ACVA, CARG, CART +26 more
Keith Weiss
Morgan Stanley
3 questions for SHOP
Also covers: ADBE, APPN, BILL +19 more
MT
Martin Toner
ATB Capital Markets
3 questions for SHOP
Also covers: BITF, DCBO, GLXY +3 more
PT
Paul Treiber
RBC Capital Markets
3 questions for SHOP
Also covers: BB, CLS, DSGX +2 more
TY
Trevor Young
Barclays
3 questions for SHOP
Also covers: ABNB, ALV, BKNG +14 more
BS
Bradley Sills
Bank of America
2 questions for SHOP
Also covers: ADBE, BILL, CRM +14 more
BP
Brian Peterson
Raymond James Financial
2 questions for SHOP
Also covers: BIGC, BLKB, BOX +20 more
Craig Maurer
FT Partners
2 questions for SHOP
Also covers: AVDX, AXP, MA +4 more
Deepak Mathivanan
Cantor Fitzgerald
2 questions for SHOP
Also covers: ABNB, CART, DASH +9 more
DB
Dominic Ball
Redburn Atlantic
2 questions for SHOP
Also covers: FOUR, GPN, LSPD +1 more
GB
Gabriela Borges
Goldman Sachs
2 questions for SHOP
Also covers: AVPT, BIGC, BRZE +27 more
KG
Ken Gawrelski
Wells Fargo
2 questions for SHOP
Also covers: ABNB, DASH, ETSY +6 more
KW
Ken Wong
Oppenheimer & Co. Inc.
2 questions for SHOP
Also covers: ADSK, ALTR, CMRC +10 more
Richard Tse
National Bank Financial
2 questions for SHOP
Also covers: DCBO, GIB, LSPD +2 more
Shweta Khajuria
Wolfe Research, LLC
2 questions for SHOP
Also covers: BMBL, CART, CHWY +15 more
SP
Siti Panigrahi
Mizuho Securities
2 questions for SHOP
Also covers: ADSK, BSY, CDNS +17 more
TC
Tim Chiodo
UBS
2 questions for SHOP
Also covers: XYZ
Todd Coupland
CIBC
2 questions for SHOP
Also covers: BB, CLS, DDOG +2 more
Andrew Bauch
Wells Fargo & Company
1 question for SHOP
Also covers: AFRM, AVDX, FLYW +9 more
Arjun Bhatia
William Blair
1 question for SHOP
Also covers: AMPL, BAND, BRZE +21 more
BS
Bhavin Shah
Deutsche Bank
1 question for SHOP
Also covers: ADSK, CLBT, DAY +4 more
CM
Craig Mauer
Financial Technology Partners
1 question for SHOP
DH
David Hynes
Canaccord Genuity Group Inc.
1 question for SHOP
Also covers: BIGC, BRZE, EVCM +18 more
JC
Jeff Cantwell
Seaport Research Partners
1 question for SHOP
Also covers: ACIW, AFRM, CHYM +6 more
Mark Mahaney
Evercore ISI
1 question for SHOP
Also covers: ABNB, AMZN, BKNG +23 more
RS
Reggie Smith
JPMorgan Chase & Co.
1 question for SHOP
Also covers: AFRM, BFH, CIFR +8 more
RW
Robert Wildhack
Autonomous Research
1 question for SHOP
Also covers: AFRM, ALLY, AXP +7 more
SS
Samad Samana
Jefferies
1 question for SHOP
Also covers: ADP, ALRM, AUDC +21 more
SP
Sitikantha Panigrahi
Mizuho
1 question for SHOP
Also covers: ADSK, BSY, CDNS +13 more
TT
Terrell Tillman
Truist Securities
1 question for SHOP
Also covers: , FIVN, INST +17 more
TI
Thomas Ingham
CIBC
1 question for SHOP
Also covers: BB, CLS, LSPD +2 more
TC
Timothy Chiodo
UBS Group AG
1 question for SHOP
Also covers: AFRM, AVDX, CHYM +18 more
TR
Tyler Radke
Citigroup Inc.
1 question for SHOP
Also covers: ADBE, ADSK, AMPL +23 more
Recent press releases and 8-K filings for SHOP.
Vanquish Launches US Operations, Aims to Reduce Investment Fund Launch Costs
SHOP
Product Launch
New Projects/Investments
- Vanquish has launched its US operations and global platforms, aiming to reduce the cost of launching an investment fund from over $500,000 to less than $10,000.
- The platform provides pre-vetted quantitative strategies, legal structure, and compliance infrastructure, with its quantitative AI firm, Vertus, achieving 51% returns in 2025.
- Vanquish US offers fund formation infrastructure for RIAs, family offices, and emerging managers, while Vanquish Global provides white-label investment company infrastructure across 190+ countries.
Feb 17, 2026, 4:26 PM
Shopify Reports Record Q4 and Full Year 2025 Results, Announces Share Repurchase Program
SHOP
Earnings
Revenue Acceleration/Inflection
Share Buyback
- Shopify reported record financial performance for Q4 and full year 2025, with Q4 revenue exceeding $3 billion for the first time and full year revenue reaching $11.5 billion, a 30% increase from 2024. Full year Gross Merchandise Volume (GMV) grew 29% to $378 billion.
- The company demonstrated significant profitability and cash generation, with full year 2025 free cash flow exceeding $2 billion and a 17% free cash flow margin, while operating expenses decreased to 35% of revenue for the full year.
- Shopify is strategically focused on the AI era in commerce, having co-developed the Universal Commerce Protocol (UCP) with Google and launching Shopify Agentic Storefronts to integrate with major AI platforms. Orders from AI search to Shopify stores have increased 15x since January 2025.
- For Q1 2026, Shopify expects revenue growth in the low 30s year-over-year, gross profit dollars to grow in the high 20s, and a free cash flow margin in the low to mid-teens.
- The board approved a share repurchase program of up to $2 billion, signaling confidence in the company's long-term value and financial strength.
Feb 11, 2026, 1:30 PM
Shopify Reports Record Q4 and Full-Year 2025 Results, Emphasizing AI Commerce Leadership
SHOP
Earnings
Revenue Acceleration/Inflection
New Projects/Investments
- Shopify reported record Q4 2025 revenue of over $3 billion, contributing to a full-year 2025 revenue of $11.5 billion, which represents a 30% increase year-over-year and an acceleration from 2024's 26% growth.
- Gross Merchandise Volume (GMV) for 2025 grew 29% to $378 billion, with Q4 2025 marking the first quarter with GMV over $100 billion at $124 billion.
- The company demonstrated strong financial discipline, generating over $2 billion in free cash flow for 2025, achieving a 17% free cash flow margin.
- Shopify is strategically positioning itself in the AI commerce era, having co-developed the Universal Commerce Protocol (UCP) with Google, and has seen orders from AI searches increase 15x since January 2025.
- Significant growth was also observed in international revenue, which was up 36%, B2B GMV, which increased 96% in 2025, and offline channel revenue, which grew 27% to $748 million.
Feb 11, 2026, 1:30 PM
Shopify Reports Strong Q4 and Full Year 2025 Results, Announces Share Buyback, and Details AI Strategy
SHOP
Earnings
Guidance Update
Share Buyback
- Shopify delivered strong financial results for Q4 and full year 2025, with Q4 revenue up 31% and full year 2025 revenue reaching $11.6 billion, up 30%. The company achieved $2 billion in free cash flow for 2025, a 26% increase, and a 17% free cash flow margin.
- The company is significantly focused on Agentic Commerce and AI integration, having co-developed the Universal Commerce Protocol (UCP) with Google to standardize AI transactions. They also launched Shopify Agentic Storefronts and an Agentic plan for non-Shopify merchants to expand their reach.
- Shopify's board approved a share repurchase program of up to $2 billion. For Q1 2026, the company anticipates revenue growth in the low 30s year-over-year, gross profit dollars to grow in the high 20s, and a free cash flow margin in the low to mid-teens.
Feb 11, 2026, 1:30 PM
Shopify Reports Strong Q4 and Full-Year 2025 Financial Results
SHOP
Earnings
Revenue Acceleration/Inflection
New Projects/Investments
- Shopify reported strong financial results for Q4 2025, with revenue reaching $3.7B and GMV at $124B, both showing 31% year-over-year growth. For the full year 2025, revenue was $11.6B and GMV was $378B, growing 30% and 29% respectively.
- The company demonstrated improved profitability, achieving a gross profit of $1.7B in Q4 2025, a 25% YoY increase , and a free cash flow margin of 19% for the quarter. Full year 2025 free cash flow was $2.0B with a 17% margin.
- Key growth drivers included B2B Commerce, which grew 84% YoY in Q4 2025 and 96% for the full year 2025 , and Shop Pay, which processed $43B in GMV in Q4 with 59% YoY growth.
- Shopify is actively investing in AI and agentic commerce, co-developing the Universal Commerce Protocol with Google and introducing AI tools for merchants and internal use.
Feb 11, 2026, 1:30 PM
Shopify Announces Strong Q4 and Full Year 2025 Results, Initiates $2 Billion Share Repurchase Program
SHOP
Earnings
Guidance Update
Share Buyback
- Shopify reported strong financial results for Q4 and full year 2025, with Q4 revenue growing 31% year-over-year to $3.672 billion and a 19% free cash flow margin. For the full year 2025, revenue increased 30% to $11.556 billion, and free cash flow reached $2.007 billion with a 17% margin.
- For the first quarter of 2026, Shopify expects revenue to grow at a low-thirties percentage rate year-over-year and gross profit dollars to grow at a high-twenties percentage rate. The free cash flow margin is anticipated to be in the low-to-mid teens.
- The Board of Directors authorized a share repurchase program of up to $2 billion of its Class A subordinate voting shares, which will go into effect on February 17, 2026.
Feb 11, 2026, 12:02 PM
Shopify Shares Climb Ahead of Q4 and Full-Year 2025 Earnings
SHOP
Earnings
Guidance Update
Revenue Acceleration/Inflection
- Shopify's shares climbed ahead of its Q4 and full-year 2025 earnings report, closing at $118.40 with a market cap of $154.522 billion on Feb. 9, 2026.
- Analyst views are mixed, with MoffettNathanson upgrading to Buy and Citizens maintaining Market Outperform, while BMO trimmed its price target to $150 due to a broader software valuation correction.
- Investors are focused on metrics such as gross merchandise volume (GMV), merchant adoption, merchant-services take-rates, and 2026 guidance to assess the impact of AI features on platform growth.
- An earnings call is scheduled for Feb. 11 to provide clarity on these metrics and set near-term expectations.
Feb 9, 2026, 6:20 PM
FloQast Achieves $200 Million ARR Milestone and Forms Strategic Alliance with EY
SHOP
Revenue Acceleration/Inflection
New Projects/Investments
- FloQast has surpassed $200 million in Annual Recurring Revenue (ARR), a financial milestone achieved through accelerating upmarket growth and the success of its AI-powered technology.
- The company's financial momentum is driven by the continued adoption of its multi-solution platform, a successful strategy to move upmarket, and international expansion, including securing its largest customer in Germany.
- FloQast announced a new strategic partnership with EY, enabling EY's advisory teams to deploy FloQast's Accounting Transformation Platform to their clients.
- The company received significant industry recognition in 2025, including being ranked on the Deloitte Technology Fast 500 and named to CNBC’s 2025 List of World’s Top Fintech Companies.
Jan 20, 2026, 2:00 PM
Shopify Supports Scholl's Global E-commerce Expansion
SHOP
New Projects/Investments
Revenue Acceleration/Inflection
- Shopify is collaborating with ESW and Arsenalia to facilitate Scholl's global direct-to-consumer (DTC) e-commerce expansion into over 50 markets.
- The partnership utilizes Shopify's platform infrastructure to enable Scholl to scale its global DTC footprint through a localized, compliant, and streamlined model.
- The international rollout has commenced in Scholl's domestic market and Europe, including the United Kingdom and Switzerland, with plans to expand into more than 30 additional markets such as India, Brazil, Mexico, Indonesia, and key Middle Eastern territories.
Dec 18, 2025, 10:00 AM
ONAR Holding's Acquired Agency JUICE Achieves Record Black Friday Results
SHOP
M&A
Revenue Acceleration/Inflection
New Projects/Investments
- ONAR Holding Corporation announced that its recently acquired performance marketing agency, JUICE, achieved significant performance milestones during the Black Friday/Cyber Monday (BFCM) period, demonstrating immediate value and scalability.
- JUICE drove substantial revenue growth and efficiency gains for clients, including a +72% year-over-year revenue increase to $1.03 million with a 12.12x Return on Ad Spend (ROAS) for a high-end jewelry client, and 3x the anticipated volume of membership signups for a fitness company.
- The agency also improved profitability for a supplement retailer with an 82% reduction in Cost Per Acquisition (CPA) and a 270% increase in Return on Ad Spend (ROAS).
- ONAR CEO Claude Zdanow stated that these results validate the company's M&A strategy and position its agencies for best-in-class commercial impact and long-term shareholder value.
Dec 17, 2025, 12:00 PM
Quarterly earnings call transcripts for SHOPIFY.
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