Shopify Inc. (NASDAQ, TSX: SHOP) announced today financial results for the quarter and year ended December 31, 2025. Shopify achieved Q4 revenue growth of 31% and a 19% free cash flow margin, marking ten consecutive quarters of double-digit free cash flow margins.
| Key Features / Changes |
| Investments in Catalog, Sidekick, Universal Commerce Protocol, and full platform of commerce solutions; Share repurchase program of up to $2 billion authorized by Board of Directors; 2026 Outlook superseding prior statements. |
| Value Proposition |
| “2025 was Shopify at full throttle – driving compounding growth, while laying the rails for the new era of AI commerce. 2026 will be the year of the builders, and we’ll be powering them – from first sale to full scale.” |
| Link to Full Details |
| Shopify’s Standout 2025: The Launchpad for a New Era of Commerce in 2026 |
| Performance Metrics or Results |
| Q4 revenue growth of 31%; Q4 free cash flow margin of 19%; Full-year 2025 revenue growth of 30%; Full-year 2025 free cash flow margin of 17%; Q1 2026 Outlook: Revenue growth low-thirties percentage rate, Gross profit growth high-twenties percentage rate, OpEx 37-38% of revenue, Stock-based compensation $140 million. |
| Target Audience |
| Related Articles or Resources |
| Shopify’s Annual Report on Form 10-K… will be available on Shopify’s website at www.shopify.com and will be filed on EDGAR at www.sec.gov and on SEDAR+ at www.sedarplus.ca; Webcast available at www.shopify.com/investors/events. |
| Additional Notes |
| The share repurchase program will go into effect on February 17, 2026, has no fixed expiration date, and may be amended, suspended, or discontinued at any time. |
| Responsible Team Members |
| Harley Finkelstein, President of Shopify; Jeff Hoffmeister, Chief Financial Officer |
