# Shopify Q3 Revenue Hits $3.74 Billion

> Shopify reports 32% revenue growth and $119 billion merchant volume in Q3 2026.
- Title: Shopify Q3 Revenue Hits $3.74 Billion · Pulse 2.0 | Shortify
- Summary: 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…
- Keywords: shopify, revenue, q3 2026, merchant volume, gross merchandise volume, free cash flow, Pulse 2.0
- Source: Pulse 2.0 — https://pulse2.com/shopify-3-74-billion-q3-revenue-reflects-32-growth-as-merchant-volume-reaches-119-billion
- Author: Amit Chowdhry
- Published: 2026-11-06T13:56:44+00:00
- Read time: 1 min
- Topics: shopify, revenue, q3 2026, merchant volume, gross merchandise volume, free cash flow, startups, business
## 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.
## Key takeaway

Shopify generated $3.74 billion in Q3 2026 revenue, a 32% increase from 2025, with merchant volume reaching $119 billion.