Shopify Q3 Revenue Surges 26%, Free Cash Flow Hits 19%

Ticker: SHOP · Form: 6-K · Filed: 2024-11-12T00:00:00.000Z

Sentiment: bullish

Topics: earnings, revenue-growth, cash-flow

TL;DR

Shopify Q3 revenue up 26%, FCF margin 19% - looks good!

AI Summary

Shopify Inc. reported its Q3 2024 results, with revenue growth accelerating to 26% and free cash flow margin expanding to 19%. The company filed this 6-K report on November 12, 2024, detailing its performance for the period ending September 30, 2024.

Why It Matters

This filing indicates strong financial performance for Shopify, suggesting increased adoption and effectiveness of its e-commerce solutions, which could benefit merchants and the broader online retail sector.

Risk Assessment

Risk Level: low — This is a standard earnings release filing (6-K) and does not contain new material risks.

Key Numbers

Key Players & Entities

FAQ

What was Shopify's revenue growth in Q3 2024?

Shopify's revenue growth accelerated to 26% in Q3 2024.

What was Shopify's free cash flow margin in Q3 2024?

Shopify's free cash flow margin expanded to 19% in Q3 2024.

When was this 6-K filing submitted to the SEC?

This 6-K filing was submitted on November 12, 2024.

What period does this 6-K report cover?

This report covers the period ending September 30, 2024.

Does Shopify file annual reports under Form 20-F or 40-F?

Shopify indicates it files annual reports under Form 40-F.

From the Filing

0001594805-24-000089.txt : 20241112 0001594805-24-000089.hdr.sgml : 20241112 20241112070555 ACCESSION NUMBER: 0001594805-24-000089 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 9 CONFORMED PERIOD OF REPORT: 20240930 FILED AS OF DATE: 20241112 DATE AS OF CHANGE: 20241112 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SHOPIFY INC. CENTRAL INDEX KEY: 0001594805 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-PREPACKAGED SOFTWARE [7372] ORGANIZATION NAME: 06 Technology IRS NUMBER: 000000000 STATE OF INCORPORATION: Z4 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-37400 FILM NUMBER: 241443219 BUSINESS ADDRESS: STREET 1: 151 O'CONNOR STREET STREET 2: GROUND FLOOR CITY: OTTAWA STATE: A6 ZIP: K2P 2L8 BUSINESS PHONE: 613-241-2828 MAIL ADDRESS: STREET 1: 151 O'CONNOR STREET STREET 2: GROUND FLOOR CITY: OTTAWA STATE: A6 ZIP: K2P 2L8 6-K 1 form6kq32024pressrelease.htm 6-K Document SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K Report of Foreign Private Issuer Pursuant to Rule 13a-16 or 15d-16 of the Securities Exchange Act of 1934 For the month of November 2024 Commission File Number 001-37400  Shopify Inc. (Translation of registrant’s name into English) 151 O'Connor Street, Ground Floor Ottawa, Ontario, Canada K2P 2L8 (Address of principal executive offices)      Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F: Form 20-F Form 40-F x      DOCUMENTS INCLUDED AS PART OF THIS REPORT Exhibit     99.1    Shopify Inc. - Shopify Q3 2024 Revenue Growth Accelerates to 26%, Free Cash Flow Margin Expands to 19% SIGNATURES      Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Shopify Inc. (Registrant) Date: November 12, 2024 By: /s/ Michael L. Johnson Name: Michael L. Johnson Title: Corporate Secretary EX-99.1 2 a3pr.htm EX-99.1 a3pr 1 Internet, Everywhere - November 12, 2024 - Shopify Inc. (NYSE, TSX: SHOP), a leading commerce technology company announced today financial results for the quarter ended September 30, 2024. “Q3 was outstanding, further establishing Shopify as a leader in powering commerce anywhere, anytime. Our unified commerce platform is becoming the go-to choice for merchants of all sizes,” said Harley Finkelstein, President of Shopify. “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.” Jeff Hoffmeister, Chief Financial Officer of Shopify, said, “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. 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 both future growth investment and operational leverage.” (1) See notes below for definitions of GMV, MRR and additional information on Free Cash Flow and Free Cash Flow margin, which are non-GAAP financial measures and are reconciled to the comparable GAAP measure in the Condensed Consolidated Statement of Cash Flows. Shopify Q3 2024 Revenue Growth Accelerates to 26%, Free Cash Flow Margin Expands to 19% Three months ended September 30, 2024 September 30, 2023 GMV 69,715 56,205 MRR 175 137 Revenues 2,162 1,714 Gross profit 1,118 901 Operating income 283 122 Free cash flow 421 276 YoY revenues growth rate 26% 25% Free cash flow margin 19% 16% Selected Business Performance Information(1) (In US $ millions, ex

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