$SHOP (+0.17%) | Shopify Q3 '24 Earnings Highlights:

🔹 Revenue: $2.16B (Est. $2.10B) 🟢; UP +26% YoY

🔸 GMV: $69.7B (Est. $67.8B) 🟢; UP +24% YoY

🔸 MRR: $175M (Est. $173.6M) 🟡; UP from $137M YoY

Q4 Guidance:

🔹 Revenue Growth: Mid-to-high twenties % YoY, implying $2.68B-$2.76B (Est. $2.62B) 🟢

🔹 Gross Profit Growth: Projected at similar growth rates to Q3

🔹 GAAP Operating Expenses: Expected to be 32-33% of revenue

🔹 Free Cash Flow Margin: Anticipated to be similar to Q4'23 levels

Q3 Business Metrics:

🔹 Operating Income: $283M (prev. $122M YoY); UP +132% YoY

🔹 Free Cash Flow: $421M; UP from $276M YoY

🔹 Free Cash Flow Margin: 19% (up from 16% YoY)

🔹 Gross Profit: $1.12B; UP +24% YoY

🔹 Net Income: $828M (prev. $718M YoY)

Q3 Segment Revenue:

🔸 Subscription Solutions: $610M; UP +26% YoY

🔸 Merchant Solutions: $1.55B; UP +26% YoY

CFO Commentary:

🔸 "With 26% revenue growth and a 19% free cash flow margin, this marks our sixth consecutive quarter of >25% revenue growth. We continue to demonstrate durability and balance growth with operational leverage.”