Revenue Growth - Revenue increased 23% to $1.9 billion, or 29% when adjusting for the sale of logistics businesses[1][3] - Revenue grew 23% year-over-year to $1.861 billion in Q1 2024, up from $1.508 billion in Q1 2023[25] - Q2 2024 revenue expected to grow at a high-teens percentage rate, or low-to-mid-twenties adjusting for logistics sale impact[6] Gross Merchandise Volume (GMV) and Gross Payments Volume (GPV) - Gross Merchandise Volume (GMV) increased 23% to $60.9 billion, up $11.3 billion from Q1 2023[3] - GMV increased 23% year-over-year to $60.855 billion in Q1 2024, compared to $49.568 billion in Q1 2023[28] - Gross Payments Volume (GPV) grew to $36.2 billion, representing 60% of GMV, up from 56% in Q1 2023[3] - GPV grew 32% year-over-year to $36.238 billion in Q1 2024, up from $27.521 billion in Q1 2023[28] Subscription Solutions and Monthly Recurring Revenue (MRR) - Subscription Solutions revenue increased 34% to $511 million, driven by growth in merchants and pricing increases[4] - Monthly Recurring Revenue (MRR) increased 32% to $151 million, with Shopify Plus contributing $48 million[4] - MRR increased 32% year-over-year to $151 million in Q1 2024, compared to $114 million in Q1 2023[28] - Subscription Revenue grew 34% year-over-year to $511 million in Q1 2024, up from $382 million in Q1 2023[27] Gross Profit and Margin - Gross profit grew 33% to $957 million, with a gross margin of 51.4%, up from 47.5% in Q1 2023[4] - Gross profit rose 33% year-over-year to $957 million in Q1 2024, up from $717 million in Q1 2023[27] - Adjusted gross profit for Q1 2024 was $962 million, representing 52% of revenue, up from $738 million (49% of revenue) in Q1 2023[21] Free Cash Flow and Cash Position - Free cash flow margin doubled year-over-year to 12%, with free cash flow of $232 million[1][4] - Free cash flow margin for Q2 2024 expected to remain similar to Q1 2024 at 12%[6] - Cash and marketable securities totaled $5.2 billion, with a net cash position of $4.3 billion[4] - Cash and cash equivalents increased to $1,623 million as of March 31, 2024, up from $1,413 million at the end of 2023[16] - Free cash flow increased to $232 million in Q1 2024, up from $86 million in Q1 2023, with a free cash flow margin of 12% compared to 6%[25] Operating and Net Income - Adjusted operating income for Q1 2024 was $201 million (11% of revenue), a significant improvement from a loss of $31 million (2% of revenue) in Q1 2023[22] - Adjusted net income for Q1 2024 was $256 million (14% of revenue), compared to $12 million (1% of revenue) in Q1 2023[22] - Income from operations improved to $86 million in Q1 2024, compared to a loss of $(193) million in Q1 2023[27] - GAAP net loss for Q1 2024 was $273 million (15% of revenue), compared to a net income of $68 million (5% of revenue) in Q1 2023[22] Stock-Based Compensation and Marketable Securities - Stock-based compensation and related payroll taxes totaled $111 million in Q1 2024, down from $141 million in Q1 2023[22] - Purchases of marketable securities in Q1 2024 were $2,137 million, nearly double the $1,098 million in Q1 2023[17] Shareholders' Equity and Net Loss per Share - Total shareholders' equity decreased to $8,893 million as of March 31, 2024, from $9,066 million at the end of 2023[16] - Basic GAAP Net loss per share attributable to shareholders was $(0.21) for Q1 2024, compared to $0.05 in Q1 2023[23] - Diluted Adjusted Net income per share attributable to shareholders was $0.20 for Q1 2024, compared to $0.01 in Q1 2023[23] Total Assets and Operating Activities - Total assets decreased slightly to $11,112 million from $11,299 million at the end of 2023[16] - Net cash provided by operating activities was $238 million for Q1 2024, compared to $100 million in Q1 2023[17]

Investors are always looking for stocks that are poised to beat at earnings season and Shopify Inc. (SHOP) may be one such company. The firm has earnings coming up pretty soon, and events are shaping up quite nicely for their report.That is because Shopify is seeing favorable earnings estimate revision activity as of late, which is generally a precursor to an earnings beat. After all, analysts raising estimates right before earnings — with the most up-to-date information possible — is a pretty good indicato ...

Shopify (SHOP) is scheduled to report its first-quarter 2024 results on May 8.For the to-be-reported quarter, Shopify expects revenue growth in the low twenties on a year-over-year basis. Adjusting for a 500-600 bps headwind related to the divestiture of the logistics business, revenues are expected to grow in the mid to high twenties on a year-over-year basis.The Zacks Consensus Estimate for revenues is currently pegged at $1.84 billion, suggesting growth of 21.76% from the year-ago quarter’s reported figu ...

Here at Zacks, we offer our members many different opportunities to take full advantage of the stock market, as well as how to invest in ways that lead to long-term success.The Zacks Premium service makes this easier. It features daily updates of the Zacks Rank and Zacks Industry Rank; full access to the Zacks #1 Rank List; Equity Research reports; and Premium stock screens like the Earnings ESP filter. All of these can help you quickly identify what stocks to buy, what to sell, and what are today's hottest ...

Shopify (SHOP) ended the recent trading session at $71.33, demonstrating a +1.11% swing from the preceding day's closing price. This move outpaced the S&P 500's daily gain of 1.02%. Meanwhile, the Dow gained 0.4%, and the Nasdaq, a tech-heavy index, added 2.03%.The cloud-based commerce company's shares have seen a decrease of 8.58% over the last month, not keeping up with the Computer and Technology sector's loss of 5.32% and the S&P 500's loss of 3.15%.Analysts and investors alike will be keeping a close e ...

Shopify reportedly plans to base raises on numerical scores assigned to employees based on their skill level.Employees will be eligible for a raise only when their score increases within a certain amount of time, Seeking Alpha reported Tuesday (April 23), citing a paywalled article by The Information.Reached by PYMNTS, a Shopify spokesperson provided an emailed statement: “We’re kicking down the corporate ladder and breaking the cycle of passionate crafters getting funneled into management career paths they ...

Clear avenues for growth could allow the e-commerce giant to continue reporting annual gains of 20% or better over the next several years.The rapid growth rates Shopify (SHOP 0.23%) has displayed since 2020 could continue through 2030, at least according to Morgan Stanley analyst Keith Weiss.Since mid-2020, the leading e-commerce platform has reported annual revenue gains above 20% quarter after quarter. Weiss is confident enough about future growth at a similar pace to upgrade the stock to overweight from ...

Looking for a stock that has been consistently beating earnings estimates and might be well positioned to keep the streak alive in its next quarterly report? Shopify (SHOP) , which belongs to the Zacks Internet - Services industry, could be a great candidate to consider.When looking at the last two reports, this cloud-based commerce company has recorded a strong streak of surpassing earnings estimates. The company has topped estimates by 34.84%, on average, in the last two quarters.For the most recent quart ...

Shopify (SHOP) ended the recent trading session at $69.41, demonstrating a +1.03% swing from the preceding day's closing price. The stock's performance was ahead of the S&P 500's daily loss of 0.58%. Elsewhere, the Dow lost 0.12%, while the tech-heavy Nasdaq lost 1.15%.Coming into today, shares of the cloud-based commerce company had lost 11.39% in the past month. In that same time, the Computer and Technology sector lost 0.47%, while the S&P 500 lost 1.09%.The investment community will be closely monitorin ...

Investors have an opportunity to buy the e-commerce infrastructure giant at a discount today.Wall Street isn't as enamored with Shopify (SHOP -2.04%) stock these days. The e-commerce infrastructure specialist jumped over 100% last year, but shares are down 11% in 2024 while the S&P 500 is up by 8%.That weak performance doesn't make much sense considering all the good news the company recently revealed about its operating trends. Let's take a closer look at whether that makes the stock a good buy right now, ...