Shopify announced Wednesday financial results for the quarter ended June 30, 2026. Shopify said it achieved 34% revenue growth (33% in constant currency) and 18% free cash flow margins.
“This was a monster quarter: more than 30% growth in GMV (Gross Merchandise Volume) and revenue and gross profit and free cash flow,” said Harley Finkelstein, President of Shopify. “We power every kind of business, and with AI, we’re expanding what’s possible for all of them. No one else comes close.”
GMV was $115.6 billion, the fifth straight quarter of more than 30% growth. Revenue increased 34% year over year to $3.58 billion.
Shopify provides essential internet infrastructure for commerce. Millions of businesses in 175+ countries use Shopify—from entrepreneurs to brands like Aldo, BarkBox, Carrier, Meta, SKIMS, Supreme, and Vuori.
“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,” said Jeff Hoffmeister, Chief Financial Officer.
The company said AI is becoming a major driver of merchant growth and the company’s own productivity.
For the third quarter of 2026, Shopify said it expects:
- Revenue to grow at a low-thirties percentage rate on a year-over-year basis;
- Gross profit dollars to grow at a mid-to-high twenties percentage rate on a year-over-year basis;
- Operating expenses as a percentage of revenue to be 33% to 34%;
- Stock-based compensation to be $150 million; and
- Free cash flow margin to be in the high-teens to low-twenties.
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