The earnings call highlighted significant growth in GMV, revenue, and international markets, alongside the expansion of Shopify Payments and enterprise adoption. Some challenges were noted in partnership revenues and payment margins in Europe. Overall, the positive developments significantly outweighed the lowlights.

Company Guidance

During Shopify's Q3 2024 earnings call, the company provided robust guidance, highlighting continued strong performance across various metrics. Gross Merchandise Volume (GMV) increased by 24%, marking a consistent trend of growth above 20% for five consecutive quarters. Revenue rose by 26%, and operating income more than doubled compared to the previous year, with the free cash flow margin expanding to 19%. Shopify Payments' penetration reached 62%, processing $43 billion in GMV, a 31% increase year-over-year. The company also reported a 28% year-over-year increase in Monthly Recurring Revenue (MRR) to $175 million. For Q4, Shopify expects revenue to grow at a mid- to high 20s percentage rate year-over-year, with free cash flow margins anticipated to be similar to Q4 2023's 21%. These figures underscore Shopify's strategic focus on capturing market share in entrepreneurship and commerce, supported by a high-velocity innovation engine and a commitment to operational efficiency.

Strong GMV and Revenue Growth

GMV increased by 24% year-over-year, marking the fifth consecutive quarter of GMV growth over 20%. Revenue was up 26% year-over-year, indicating robust growth across the board.

Expansion of Shopify Payments

Shopify Payments penetration grew to 62%, with Shop Pay facilitating $17 billion in GMV, up 42% year-over-year.

Significant Growth in B2B and International Markets

Q3 B2B GMV grew over 145% year-over-year, with five consecutive quarters of triple-digit growth. International GMV grew greater than 30% year-over-year, outpacing growth in North America.

Positive Outlook and Financial Position

Operating income more than doubled from last year, and free cash flow margin expanded to 19%.

Strong Enterprise Adoption

Significant enterprise-level brands such as Reebok and Victoria's Secret adopted Shopify, with 16 enterprise launches in Q3.

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Shopify (GB:0VHA) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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GB:0VHA Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Feb 12, 2025	2024 (Q4)	0.42 / -	0.321	―	―	―
Nov 12, 2024	2024 (Q3)	0.26 / 0.34	0.23	48.34% (+0.11)
Aug 07, 2024	2024 (Q2)	0.19 / 0.25	0.13	90.91% (+0.12)
May 08, 2024	2024 (Q1)	0.16 / 0.19	0.01	1857.14% (+0.18)
Feb 13, 2024	2023 (Q4)	0.28 / 0.32	0.065	390.43% (+0.26)
Nov 02, 2023	2023 (Q3)	0.14 / 0.23	-0.019	1325.93% (+0.25)
Aug 02, 2023	2023 (Q2)	0.06 / 0.13	-0.027	579.49% (+0.16)
May 04, 2023	2023 (Q1)	-0.04 / <0.01	0.018	-46.15% (>-0.01)
Feb 15, 2023	2022 (Q4)	-0.01 / 0.07	0.12	-45.66% (-0.05)
Oct 27, 2022	2022 (Q3)	-0.06 / -0.02	0.07	-127.00% (-0.09)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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GB:0VHA Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Nov 12, 2024	$89.82	$112.92	+25.73%
Aug 07, 2024	$54.58	$63.79	+16.87%
May 08, 2024	$77.15	$61.96	-19.69%
Feb 13, 2024	$89.80	$78.01	-13.13%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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