Shopify (SHOP) Q2 2025 Earnings Call Transcript

Motley Fool Transcribing, The Motley Fool

Tue, December 23, 2025 astatine 10:44 AM CST 55 min read

Image source: The Motley Fool.

Wednesday, August 6, 2025 astatine 8:30 a.m. ET

• President — Harley Finkelstein

• Chief Financial Officer — Jeff J. Hoffmeister

• Director, Investor Relations — Carrie Gillard

Need a punctuation from a Motley Fool analyst? Email [email protected]

Harley Finkelstein: Thanks, Carrie, and bully morning, everyone. Now earlier we get into the numbers, I privation to bash thing a small spot antithetic today. I privation to commencement by looking backmost astatine Shopify's past fewer net calls. 18 months ago, I said that we would powerfulness up our offline and our B2B on-ramps, creating a genuinely unified commerce platform. Well, accelerated guardant to today, our offline GMV is up 29% year-over- year. Our B2B GMV is up 101%, and we're bringing the biggest brands connected the satellite to the level done our unified commerce offering. 12 months ago, I said we would proceed to present some maturation and profitability.

And this past quarter, we delivered $2.7 cardinal of revenue, up 31% year-over-year, and our escaped currency travel borderline was 16%. And finally, 6 months ago, we committed to expanding our scope crossed each geographies and peculiarly successful Europe. Well, our planetary GMV for this astir caller 4th was up 42% year-over-year, accelerating from Q1, driven mostly by outperformance successful Europe. Now the beardown results you spot contiguous travel from seeds we planted years ago. Past investments are present paying disconnected and the ones we are making contiguous volition thrust results for years to come. So if you instrumentality 1 happening distant from this call, fto it beryllium this. Shopify delivers. We bash what we accidental we're going to do.

That consistency follow-through and durable growth, that is Shopify's demo. Now I privation to telephone this retired astatine the apical of this telephone due to the fact that we've had a batch of wins this quarter, which we'll get into next. But this quarter-to-quarter consistency is truly what matters. This is however generational companies are built, and this is what you're seeing from Shopify. Okay. Now let's get into the wins and the advancement we made successful Q2 specifically. As I mentioned earlier, we delivered Q2 gross of $2.7 billion, up 31% year-over-year, and escaped currency travel borderline was 16%. GMV was up 31%, accelerating from Q1.

And this beardown GMV effect was driven by continued outperformance successful Europe arsenic good arsenic momentum successful our largest market, the U.S. This is the result of a wide strategy executed truly well. Agility and easiness of usage are present prerequisites for immoderate modern commerce company, and that's wherefore we've go a strategical vantage to each businesses successful today's unpredictable market. In this quarter, we signed up immoderate iconic planetary brands, including Starbucks, Canada Goose and Burton Snowboards. And I emotion getting to talk to this diverseness of brands choosing Shopify due to the fact that it truly reflects the flexibility of the platform.