Shopify announced Tuesday financial results for the quarter ended March 31, 2026. Shopify achieved 34% revenue growth and 15% free cash flow margins and more than $100 billion in Gross Merchandise Value.
“Shopify has entered the AI era with a clear edge: strong, durable growth and two decades of commerce intelligence. That puts us in a category of one, and we’re about to see that advantage compound throughout 2026,” said Harley Finkelstein, President of Shopify.
Jeff Hoffmeister, Chief Financial Officer, said: “Q1 delivered broad-based growth across geographies, merchant sizes, and channels, with over $100 billion of GMV in the first quarter alone. That is the platform compounding. The durability of this model allows us to invest strategically in growth, both in the merchant-facing tools that drive commerce innovation and in the internal capabilities that let us build and ship faster.”
For the second quarter of 2026, Shopify said it expects:
- Revenue to grow at a high-twenties percentage rate on a year-over-year basis;
- Gross profit dollars to grow at a mid-twenties percentage rate on a year-over-year basis;
- Operating expenses as a percentage of revenue to be 35% to 36%;
- Stock-based compensation to be $145 million; and
- Free cash flow margin to be in the mid-teens.
Shopify provides essential internet infrastructure for commerce. Shopify’s all-in-one platform makes it easier to start, run, and grow a business, powering sales online, in-store, and everywhere in between, it says. Millions of businesses in 175+ countries use Shopify—from entrepreneurs to brands like Aldo, BarkBox, Carrier, Meta, Vuori, SKIMS, and Supreme.
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