Nov. 12, 2024
OTTAWA, ON – Financial results for the quarter ended Sept. 30, 2024 at Canada-based Shopify Inc. showed a significant revenue uptick. “Shopify achieved 26% revenue growth and 19% free cash flow margin this quarter, marking our sixth consecutive quarter of greater than 25% revenue growth excluding logistics,” said Jeff Hoffmeister, chief financial officer via press release. “Moreover, we have grown free cash flow margin sequentially each quarter this year, consistent with what we delivered last year. These results demonstrate the durability of our business, our multiple avenues for growth, and continued discipline of balancing future growth investment and operational leverage.”
“Q3 was outstanding, further establishing Shopify as a leader in powering commerce anywhere, anytime,” said Harley Finkelstein, president of Shopify. “Our unified commerce platform is becoming the go-to choice for merchants of all sizes. As the busiest shopping season of the year for our merchants approaches, they trust Shopify to provide the tools, unmatched speed, and reliability to maximize their success.”
Expected Fourth Quarter 2024 Results Include:
- Revenues to grow at a mid-to-high-twenties percentage rate on a year-over-year basis;
- Gross profit dollars to grow at a year-over-year rate similar to Q3 2024;
- GAAP operating expense as a percentage of revenues to be 32% to 33%;
- Stock-based compensation to be $120 million; and
- Free cash flow margin to be similar to Q4 2023.
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