Shopify Inc

SHOP

Equity

ISIN CA82509L1076 / Valor 27926256

Toronto Stock Exchange (2024-11-22)

CAD 149.48+0.45%

Shopify Inc
UMushroom community rating:

5.00 1 votes No rating yet

NegativeNeutralPositive

About company

Shopify Inc is a leading e-commerce platform that provides a wide range of services to help businesses set up and manage their online stores. The company has a strong focus on sustainability and has committed significant funds towards supporting companies involved in carbon removal initiatives. Shopify has built a network of companies interested in purchasing carbon removal services and leverages its Sustainability Fund to offer climate solutions to its merchants through promotions and its Planet app. This initiative not only supports environmental efforts but also exposes fund companies to millions of merchants on Shopify's platform.

Summarized from source with an LLMView SourceSector: Technology

Revenue Growth

Shopify Inc. reported a 21% increase in revenue for the second quarter of 2024, reaching $2.0 billion. This growth rate translates to a 25% year-over-year increase when adjusted for the sale of their logistics businesses, highlighting the company's strong performance despite divestitures.

Gross Merchandise Volume

In Q2 2024, Shopify Inc.'s Gross Merchandise Volume (GMV) surged by 22% to $67.2 billion. This significant increase underscores the growing trust and reliance of merchants on Shopify's platform to facilitate their sales and operations.

Gross Profit and Margin

Shopify Inc. achieved a 25% year-over-year growth in gross profit, amounting to $1.0 billion for the second quarter of 2024. The gross margin for the quarter improved to 51.1%, up from 49.3% in the same period last year, driven by the absence of the dilutive impact of logistics businesses and changes in pricing plans.

Free Cash Flow

For the second quarter of 2024, Shopify Inc. reported a free cash flow of $333 million, a substantial increase from $97 million in the same quarter of the previous year. The free cash flow margin more than doubled to 16%, reflecting the company's enhanced operational efficiency and financial health.

Subscription Solutions Revenue

Shopify Inc.'s Subscription Solutions revenue grew by 27% to $563 million in Q2 2024. This growth was driven by an increase in the number of merchants and pricing adjustments on subscription plans, indicating a robust demand for Shopify's subscription-based services.

Summarized from source with an LLMView Source

Key figures

53.9%1Y

-6.28%3Y

375%5Y

Performance

50.5%1Y

77.8%3Y

70.2%5Y

Volatility