Shopify Announces Third-Quarter 2023 Financial Results
Posted: Mon Feb 17, 2025 5:19 am
Revenue Up 25% and Gross Profit Up 36% Year-Over-Year; Free Cash Flow Positive for Fourth Consecutive Quarter, Reaching 16% of Revenue
Internet, Everywhere – November 2, 2023 – Shopify Inc. (NYSE, TSX: SHOP), a provider of essential internet infrastructure for commerce, today announced financial results for the quarter ended September 30, 2023.
“Our third-quarter results demonstrate the progress we are making to further solidify Shopify’s position as the global leader in commerce,” said Harley Finkelstein, President of hong kong mobile database Shopify. “Our ability to help our merchants succeed in any economic environment by delivering innovative product solutions, has not only built strong trust with our merchants but has positioned Shopify for sustained growth and profitability for the future. As we look forward to the busiest shopping season of the year, we’re confident that our unified commerce platform empowers our merchants with the tools they need to seize every opportunity and achieve greater success.”
“We’re extremely pleased with our financial performance this quarter, which is a testament to the resilience and adaptability of our platform and our merchants,” said Jeff Hoffmeister, Chief Financial Officer of Shopify. “Our results showcased the durability of our business model as we delivered a compelling combination of both top line growth and profitability, with revenue growing 25% year over year and free cash flow margin reaching 16%. We will continue to operate with discipline, thoughtfully investing in the huge opportunities ahead across regions, products, and channels to help merchants capture every opportunity every step of the way.”
Internet, Everywhere – November 2, 2023 – Shopify Inc. (NYSE, TSX: SHOP), a provider of essential internet infrastructure for commerce, today announced financial results for the quarter ended September 30, 2023.
“Our third-quarter results demonstrate the progress we are making to further solidify Shopify’s position as the global leader in commerce,” said Harley Finkelstein, President of hong kong mobile database Shopify. “Our ability to help our merchants succeed in any economic environment by delivering innovative product solutions, has not only built strong trust with our merchants but has positioned Shopify for sustained growth and profitability for the future. As we look forward to the busiest shopping season of the year, we’re confident that our unified commerce platform empowers our merchants with the tools they need to seize every opportunity and achieve greater success.”
“We’re extremely pleased with our financial performance this quarter, which is a testament to the resilience and adaptability of our platform and our merchants,” said Jeff Hoffmeister, Chief Financial Officer of Shopify. “Our results showcased the durability of our business model as we delivered a compelling combination of both top line growth and profitability, with revenue growing 25% year over year and free cash flow margin reaching 16%. We will continue to operate with discipline, thoughtfully investing in the huge opportunities ahead across regions, products, and channels to help merchants capture every opportunity every step of the way.”