🔹 Revenue: $2.68B (Est. $2.54B) 🟢; UP +31% YoY
🔹 Operating Income: $291M (Est. $247.7M) 🟢
🔹 GMV: $87.8B; UP +30.6% YoY
🔹 MRR: $185M; UP from $169M YoY
Q3'25 Outlook:
🔹 Revenue Growth: Mid-to-high 20s % YoY
🔹 Gross Profit Growth: Low 20s % YoY
🔹 OpEx as % of Revenue: 38%–39%
🔹 Stock-Based Compensation: ~$130M
🔹 Free Cash Flow Margin: Mid-to-high teens
Other Key Q2 Metrics:
🔹 Gross Profit: $1.30B; UP from $1.05B YoY
🔹 Free Cash Flow: $422M; UP from $333M YoY
🔹 Free Cash Flow Margin: 16% (8th straight quarter >10%)
Executive Commentary:
🔸 “Shopify delivered another outstanding quarter… GMV and revenue growth accelerated in North America, Europe, and APAC.” – CFO Jeff Hoffmeister
🔸 “Innovation never stops at Shopify… Today’s results are the payoff from bold bets we made years ago.” – President Harley Finkelstein