May 23, 2025
OTTAWA – Shopify results for the quarter ended March 31 revealed 27% revenue growth and 15% free cash flow margin. Shopify has now delivered double-digit free cash flow margins for seven consecutive quarters.
“Our Q1 results confirm two clear facts. First, we are delivering both growth and profitability at scale. Second, businesses perform better on Shopify, regardless of market conditions,” said Harley Finkelstein, president of Shopify. “We built Shopify for times like these. We handle the complexity so merchants can focus on their customers. We ship products faster than anyone else, giving merchants the edge they need to succeed.”
Jeff Hoffmeister, chief financial officer of Shopify, added: “Q1 marked another very strong set of financial results for Shopify, with 27% revenue growth and 15% free cash flow margin. We have now achieved eight consecutive quarters of pro forma revenue growth of 25% or more and seven consecutive quarters of GMV growth greater than 20%, all while increasing our free cash flow. These metrics highlight our strong performance and dedication to supporting our merchants’ success.”
For the second quarter of 2025, Shopify expects:
- revenue to grow at a mid-twenties percentage rate on a year-over-year basis;
- gross profit dollars to grow at a high-teens percentage rate on a year-over-year basis; and
- operating expense as a percentage of revenue to be 39% to 40%.
Recent Comments