Key Takeaways SHOP's merchant revenues hit $2.02B in Q2, up 36.6% year over year, led by rising GMV and payments adoption.Shop Pay processed $27B in GMV in Q2 2025, soaring 65% year over year, highlighting strong customer uptake.Partnerships with Microsoft, Roblox, and major brands like Starbucks and Canada Goose boost Shopifys reach.Shopify (SHOP) is benefiting from its strong growth in its merchant base. New merchant-friendly tools, such as Shop Minis, Shop Cash, and Sign in with Shop, as well as Shop Pay ...

Core Insights - Shopify's revenues increased by 31% during the quarter, with no adverse effects from tariffs [1] - The company's performance exceeded expectations, particularly in North America and Europe, with no decline in U.S. demand [2] - Merchants have raised prices in response to inflation, with only 4% of Shopify's gross merchandise value (GMV) shipped under de minimis exemptions [3][4] Financial Performance - Shopify's global payments penetration reached 64%, a 61% increase year over year [5] - Shop Pay's GMV increased by 65% to $27 billion [5] - The company expanded its payments product into 16 new countries and introduced multi-entity support for high-volume merchants [5] Payment Innovations - Shopify introduced a USDC stablecoin option for international transactions in partnership with Coinbase [6] - The company is adapting to changing payment preferences to ensure merchants are prepared for future trends [6] Technological Advancements - Shopify is focusing on "agentic commerce," integrating shopping into AI conversations with new products like Catalog, Universal Cart, and improved Checkout Kit [7] - The AI assistant for merchants, Sidekick, offers actionable insights for inventory optimization and customer churn analysis [7]