From Pulse 2.0 · Amit Chowdhry · · 1m 10s
Shopify Q3 Revenue Hits $3.74 Billion
Shopify reports 32% revenue growth and $119 billion merchant volume in Q3 2026.
In brief
Shopify reports 32% revenue growth and $119 billion merchant volume in Q3 2026. Shopify generated $3.74 billion in Q3 2026 revenue, a 32% increase from 2025, with merchant volume reaching $119 billion. Originally reported by Pulse 2.0.
Shopify Q3 Revenue
Shopify reported $3.742 billion revenue for the quarter ended September 30, 2026, compared with $2.844 billion in Q3 2025.
32% Revenue Growth
Revenue growth remained at 32% on a constant-currency basis, reflecting continued expansion across the company’s merchant ecosystem.
Merchant Volume Reaches $119 Billion
Gross merchandise volume increased to $119.145 billion from $92.013 billion a year earlier.
Gross Profit and Free Cash Flow
Shopify generated gross profit of approximately $1.78 billion and $816 million in quarterly free cash flow.
Fourth Quarter Expectations
For Q4 2026, Shopify expects revenue growth at a low-30% rate year-over-year and gross profit growth in the high-20% range.
Key Quote from Leadership
Shopify is uncommonly good at operating in two realities at the same time: the world our merchants exist in today, and the one they are moving towards.
“Shopify is uncommonly good at operating in two realities at the same time: the world our merchants exist in today, and the one they are moving towards.”
The one thing
Shopify generated $3.74 billion in Q3 2026 revenue, a 32% increase from 2025, with merchant volume reaching $119 billion.
