Shopify Inc. reported financial results for the quarter ended September 30, 2026, showing continued growth in gross merchandise value (GMV) and revenue. The company recorded $119.1 billion in GMV for the three-month period, up from $92.0 billion in the same quarter of the prior year. Revenue for the quarter totaled $3.742 billion, representing a year-over-year increase of 32%.
On a constant currency basis, revenue growth was also reported at 32%. The company reported a gross profit of $1.781 billion and operating income of $568 million. Shopify’s free cash flow for the quarter was $816 million, resulting in a free cash flow margin of 22%, compared to 18% in the prior year.
Management provided an outlook for the fourth quarter of 2026. The company expects revenue to grow at a low-thirties percentage rate year-over-year. Gross profit dollars are expected to grow at a high-twenties percentage rate. Operating expenses are projected to be 29% to 30% of revenue. Stock-based compensation is expected to be $155 million, and free cash flow margin is expected to be consistent with the fourth quarter of 2025.
Shopify’s balance sheet shows cash and cash equivalents of $1.868 billion as of September 30, 2026. The company also reported $2.859 billion in marketable securities. During the quarter, Shopify repurchased $562 million of common stock.
