Shopify Inc. · Q1 2025
ReportedMay 8, 2025
Period endedMar 31, 2025
Rule of 40+42
The quarter in short
Revenue $2.36B, up 26.8% year over year and down 16.1% on the quarter. EPS $0.25, up 25.0% year over year and down 56.9% on the quarter. Free cash flow $363M, up 56.5% year over year and down 40.6% on the quarter. Rule of 40 score +42.
Reported this quarter
Revenue
$2.36B
QoQ −16.1%
YoY +26.8%
EPS
$0.25
QoQ −56.9%
YoY +25.0%
Free Cash Flow
$363M
QoQ −40.6%
YoY +56.5%
Gross Margin
49.5%
QoQ —
YoY −1.9 pp
FCF Margin
15.4%
QoQ −6.3 pp
YoY +2.9 pp
P/E Ratio
77.6
QoQ +13.1%
YoY −29.6%
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Sources & downloads
Company
Published by the company on the day of the release.
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Earnings press release
Investor relations announcement
SEC filings
Filed with the SEC under CIK 1594805.
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8-K results announcement
Filed May 8, 2025
HTM
Press release (EX-99.1)
Exhibit 99.1 to the 8-K
182 KB
HTML
Filing index
Every document in the 8-K submission
TXT
Complete submission
Raw archival text of the whole filing
HTML
10-Q quarterly report
Period ended Mar 31, 2025, filed May 8, 2025
ZIP
XBRL data bundle
Structured financial statements from the 10-Q
JSON
Company facts (XBRL)
Every figure SHOP has reported to the SEC
R40 data
The numbers shown on this page, as we hold them.
CSV
This quarter (CSV)
Reported metrics for Q1 2025, spreadsheet-ready
JSON
This quarter (JSON)
Metrics, dates and matched filings