Welcome to our dedicated page for Shopify news (Ticker: SHOP), a resource for investors and traders seeking the latest updates and insights on Shopify stock.
Shopify Inc., headquartered in Ottawa, Ontario, is a leading global commerce company dedicated to providing essential internet infrastructure for commerce. Shopify's platform empowers millions of businesses in more than 175 countries to build, scale, and operate their retail operations efficiently.
The company operates through two primary segments: Subscription Solutions and Merchant Solutions. The Subscription Solutions segment offers a suite of tools that allow merchants to conduct e-commerce across various platforms, including online stores, physical stores, pop-up stores, kiosks, social networks, and marketplaces like Amazon. The Merchant Solutions segment provides add-on products such as Shopify Payments, Shopify Shipping, and Shopify Capital, helping businesses manage payments, shipping logistics, and capital funding directly from the platform.
Noteworthy achievements include a record-breaking $4.1 billion in sales during Black Friday 2023, marking a 22% increase from the previous year. This momentum continued through Cyber Monday, with Shopify merchants reaching a record $9.3 billion in sales over the Black Friday Cyber Monday weekend, a 24% increase year-over-year.
Shopify is known for its trusted tools that are engineered for speed, customization, reliability, and security. These tools help start, scale, market, and run businesses of any size more effectively. The company is trusted by renowned brands such as Mattel, Gymshark, Heinz, Netflix, SKIMS, and Supreme.
Recent news highlights Shopify’s continued growth and innovation. Shopify announced its financial results for Q4 and the full year of 2023, showcasing a year-over-year revenue growth of 24%, and an operating income margin of 13%. The company also expanded its partnership with Avalara, a leading provider of cloud-based tax compliance automation, to support Shopify customers globally with their tax compliance needs.
Looking ahead to 2024, Shopify remains focused on driving innovation and supporting merchants with cutting-edge solutions, aiming to deliver both top-line growth and profitability.
Shopify merchants achieved record $11.5 billion in sales during Black Friday-Cyber Monday weekend, marking a 24% increase from last year. The platform served 76+ million customers globally, with peak sales reaching $4.6 million per minute at 12:01pm EST on Black Friday. Notable achievements include 16,500+ entrepreneurs making their first sale and over 67,000 merchants experiencing their highest-selling day. The average cart price was $108.56, with top-selling categories including Clothing Tops, Cosmetics, and Fitness & Nutrition. Cross-border orders represented 16% of global orders, with a 58% year-over-year increase in Shop Pay sales.
Shopify (NYSE, TSX: SHOP) reported Q3 2024 financial results, showing a 26% revenue growth to $2.162 billion and a 19% free cash flow margin. This marks the sixth consecutive quarter of over 25% revenue growth, excluding logistics. Key metrics include a GMV of $69.715 billion, MRR of $175 million, gross profit of $1.118 billion, and operating income of $283 million. Free cash flow grew to $421 million. President Harley Finkelstein emphasized Shopify's role in supporting merchants, while CFO Jeff Hoffmeister highlighted the company's balanced approach to growth and operational leverage.
Shopify Inc. (NYSE, TSX: SHOP) has announced that it will release its third-quarter 2024 financial results on Tuesday, November 12, 2024, before markets open. The company's management team will host a conference call at 8:30 a.m. ET on the same day to discuss the results. Investors and interested parties can access the conference call via webcast on Shopify's investor relations website. An archived replay of the webcast will be made available after the call concludes. The financial results will cover the period ending September 30, 2024.
Shopify (NYSE, TSX: SHOP) announced that CEO Tobias Lütke has adopted an automatic securities disposition plan (ASDP) for the sale of Class A Subordinate Voting Shares. The plan, set to commence on or after September 17, 2024, allows for the sale of up to 2,564,964 Class A Shares and will terminate by December 31, 2025. The Ontario Securities Commission has exempted Mr. Lütke from prospectus requirements for these sales. All shares in the ASDP are from vested options and restricted share units granted as CEO compensation. The plan does not involve conversion of any multiple voting shares owned by Mr. Lütke.
Shopify Inc. (NYSE, TSX: SHOP) reported strong Q2 2024 financial results, with revenue up 21% (25% adjusted for logistics business sale) and gross profit up 25% year-over-year. Key highlights include:
- GMV increased 22% to $67.2 billion
- Revenue grew to $2.0 billion
- Merchant Solutions revenue up 19% to $1.5 billion
- Subscription Solutions revenue rose 27% to $563 million
- Monthly Recurring Revenue (MRR) increased 25% to $169 million
- Free cash flow reached $333 million, with margin expanding to 16%
Shopify's President, Harley Finkelstein, emphasized the company's strengthening position in global commerce, while CFO Jeff Hoffmeister highlighted robust financial performance across all metrics.
Shopify Inc. (NYSE, TSX: SHOP), a leading provider of essential internet infrastructure for commerce, has announced that it will release its second-quarter 2024 financial results on Wednesday, August 7, 2024, before markets open. The company's management team will host a conference call at 8:30 a.m. ET on the same day to discuss the results. Investors and interested parties can access the webcast of the conference call through Shopify's investor relations website. An archived replay of the webcast will be made available after the call concludes.
Shopify announced the results of its 2024 Annual Meeting of Shareholders held on June 4, 2024. All director nominees were elected, with Tobias Lütke receiving the highest majority at 98.10%. Other notable approvals included PricewaterhouseCoopers LLP as auditors, amendments to the Long Term Incentive Plan, and the advisory resolution on executive compensation. Shareholders showed substantial support for these measures, although the approval rates for unallocated options and the Incentive Plan were lower than for other proposals.
Avalara has expanded its partnership with Shopify to enable global tax compliance for merchants of all sizes. Through the Shopify Tax Platform, Shopify customers can now easily manage and automate global tax compliance with Avalara's tax solutions. This partnership aims to address the unique compliance requirements of businesses globally, allowing merchants to transact, comply, and scale with confidence.
Shopify announced its first-quarter 2024 financial results, showing a 23% increase in revenue and a 33% increase in gross profit. The company's free cash flow margin doubled year over year to 12%, reflecting strong performance and commitment to growth and profitability. Gross Merchandise Volume increased to $60.9 billion, with revenue growth of 29% after adjusting for the sale of logistics businesses. Shopify remains focused on operational discipline and strong execution to drive future success.
FAQ
What is the current stock price of Shopify (SHOP)?
What is the market cap of Shopify (SHOP)?
What does Shopify Inc. do?
Where is Shopify Inc. headquartered?
What are Shopify’s main business segments?
What was Shopify’s record-breaking sales achievement in 2023?
Which well-known brands use Shopify’s platform?
What recent partnership did Shopify announce?
What financial results did Shopify report for Q4 2023?
What are Shopify’s future plans?
How does Shopify support merchants’ shipping needs?
What is Shopify Capital?
