| Metric | Value ($ M) | Q1 FY26 | Q2 FY25 |
|---|---|---|---|
| Revenue | 3.6K | 13.0% | 33.7% |
| Total Income | 3.6K | 13.0% | 33.7% |
| Expenditure | 3.1K | 11.0% | 29.6% |
| PBT | — | ||
| Net Profit | 1.5K | 358.5% | 65.8% |
| OPM | 13.62% | 1.57pp | 2.76pp |
| NPM | 41.92% | 60.25pp | 8.11pp |
| EPS | 1.16 | 357.8% | 65.7% |
Shopify Reports Q2 2026 Results with Over 30% Growth in GMV, Revenue, and Gross Profit
05 Aug 2026 · 5 Aug, 4:37 pm
Summary
Shopify reported a strong second quarter for 2026, with revenue increasing by 34% year-over-year to $3,583 million. The company achieved significant growth across key metrics, including GMV, gross profit, and operating income, which more than doubled. Free cash flow margins stood at 18%, demonstrating financial discipline alongside robust growth. Looking ahead, Shopify anticipates continued revenue growth in the low-thirties percentage range for the third quarter.
Key Highlights
- 1
Shopify announced revenue growth of 34% (33% in constant currency) for the quarter ended June 30, 2026.
- 2
Gross profit for the quarter reached $1,708 million, an increase from $1,302 million in the prior year.
- 3
Operating income more than doubled, rising to $488 million from $291 million in the same period last year.
- 4
Free cash flow for the quarter was $654 million, resulting in a free cash flow margin of 18%.
- 5
GMV grew to $115,567 million for the three months ended June 30, 2026, up from $87,837 million in the prior year.
- 6
The company expects revenue to grow at a low-thirties percentage rate year-over-year in the third quarter of 2026.
Management Comments
Harley Finkelstein
This was a monster quarter: more than 30% growth in GMV AND revenue AND gross profit AND free cash flow. We power every kind of business, and with AI, we're expanding what's possible for all of them. No one else comes close.
Jeff Hoffmeister
GMV growth accelerated on top of last year’s already strong Q2 with solid results across all merchant sizes, channels, and geographies. Alongside this momentum, we continue to drive operating leverage, which flowed through to 18% free cash flow margins. Broad-based, consistent, and compounding growth with financial discipline; that’s exactly the model that we’ve been building.
Informational and educational content only. Not investment advice.