Shopify Inc. Class A subordinate voting shares (SHOP) Financials
Key financial figures for Shopify Inc. Class A subordinate voting shares (Q3 2026).
Shopify Q3 2026 revenue grew 32% to $3.74 billion and free cash flow margin rose to 22% from 18% a year ago, with GMV up 29% to $119.1 billion. Revenue was $3,742 million, up 32% from $2,844 million in Q3 2025 (32% in constant currency). Gross profit was $1,781 million (+28%) and GAAP operating income was $568 million, up from $343 million. GMV was $119,145 million, up 29% (30% in constant currency). Merchant Solutions revenue grew 35% to $2,906 million and Subscription Solutions revenue grew 20% to $836 million; MRR was $230 million versus $193 million a year ago. Free cash flow was $816 million, a 22% margin versus 18% in Q3 2025. On the outlook: For Q4 2026: revenue to grow at a low-thirties percentage rate year over year; gross profit dollars to grow at a high-twenties percentage rate; operating expenses at 29% to 30% of revenue; stock-based compensation of $155 million; free cash flow margin consistent with Q4 2025. Figures are for Q3 2026, as Shopify Inc. reported them.
- Revenue
- $3.7B
- Net Income
- $462M
- EPS
- $0.36
- Total Assets
- $14.7B
- Operating Cash Flow
- $818M
Recent quarters
| Period | Revenue | Net Income | EPS | Operating Margin | Free Cash Flow |
|---|---|---|---|---|---|
| Q3 FY2026 | $3.7B | $462M | $0.36 | 15.18% | $816M |
| Q2 FY2026 | $3.6B | $1.5B | $1.16 | 13.62% | $654M |
| Q1 FY2026 | $3.2B | -$581M | -$0.45 | 12.05% | $476M |
| Q4 FY2025 | $3.7B | $743M | $0.58 | 17.18% | $715M |
| Q3 FY2025 | $2.8B | $264M | $0.20 | 12.06% | $507M |
Recent fiscal years
| Period | Revenue | Net Income | EPS | Operating Margin | Free Cash Flow |
|---|---|---|---|---|---|
| FY2025 | $11.6B | $1.2B | $0.94 | 12.7% | $2.0B |
| FY2024 | $8.9B | $2.0B | $1.55 | 12.11% | $1.6B |
| FY2023 | $7.1B | $132M | $0.10 | -20.08% | $905M |
Frequently asked questions
What was Shopify Inc.'s revenue last quarter?
Shopify Inc. reported revenue of $3.74 billion for Q3 FY2026, up 31.6% from the same period a year earlier.
Is Shopify Inc. profitable?
Yes. Shopify Inc. reported net income of $462.0 million for Q3 FY2026, a net margin of 12.35% on revenue.
How has Shopify Inc.'s margin trended?
Operating margin was 15.18% in Q3 FY2026, compared with 12.06% in the same period a year earlier. The quarter by quarter series is on the SentiSense financials page.
How much free cash flow did Shopify Inc. generate?
Shopify Inc. generated free cash flow of $816.0 million in Q3 FY2026, after capital expenditure.
Full income statement, balance sheet and cash flow for Shopify Inc. Class A subordinate voting shares on SentiSense, with up to forty quarters and twenty fiscal years of history.