Shopify (NASDAQ: SHOP) reported Q1 Revenue for the quarter at $3.17 billion versus the consensus estimate of $3.09 billion.

2026 Outlook

The outlook that follows supersedes all prior financial outlook statements made by Shopify, constitutes forward-looking information within the meaning of applicable securities laws, is based on a number of assumptions, and is subject to a number of risks. Actual results could vary materially as a result of numerous factors, including certain risk factors, many of which are beyond Shopify’s control. Please see "Forward-looking Statements" at the end of this press release.

For the second quarter of 2026, we expect:

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.

For earnings history and earnings-related data on Shopify (SHOP) click here.