Quick answer: latest quarter results, by ticker or company name

Reported Q: Q4 2023 Rev YoY: +23.6% EPS YoY: +208.2% Move: +8.21%

Shopify Inc

SHOP

$128.12 8.21%

Exchange NASDAQ Sector Technology Industry Software Application

Q4 2023

Published: Feb 13, 2024

Company Status Snapshot

Fast view of the latest quarter outcome for SHOP

Reported

Report Date

Feb 13, 2024

Quarter Q4 2023

Revenue

2.14B

YoY: +23.6%

EPS

0.52

YoY: +208.2%

Market Move

+8.21%

Previous quarter: N/A

Follow this company to get upcoming quarter alerts automatically.

Earnings Highlights

Revenue of $2.14B up 23.6% year-over-year
EPS of $0.52 increased by 208.2% from previous year
Gross margin of 49.5%
Net income of 657.00M
"Harley Finkelstein: 'We have 35% more merchants from outside North America launch and grow their businesses on Shopify.'" - Harley Finkelstein

SHOP

Shopify Inc

Period Q4 2023

Currency USD

Report Type Quarterly Earnings

Generated Feb 10, 2026

Executive Summary

Shopify Inc (SHOP) reported a record-breaking fourth quarter in 2023, achieving $2.1 billion in revenue, representing a 24% year-over-year increase. This quarter marks the first time in Shopify's history that the company surpassed $2 billion in revenue in a single quarter. The robust performance was driven by the significant growth of its Merchant Solutions segment, which accounted for $1.6 billion in revenue, primarily driven by increased GMV (Gross Merchandise Volume) and higher penetration of Shopify Payments. With a strong focus on innovation, Shopify has launched several AI-powered tools and enhanced its platform to provide better services for merchant partners. The company's ability to attract more merchants globally, particularly in the EMEA region where it experienced 40% growth year-over-year, highlights its expanding market position and operational agility.

Key Performance Indicators

Revenue

Increasing

2.14B

QoQ: 25.09% | YoY: 23.58%

Gross Profit

Increasing

1.06B

49.50% margin

QoQ: 17.87% | YoY: 33.00%

Operating Income

Increasing

204.50M

QoQ: 67.62% | YoY: 208.34%

Net Income

Increasing

657.00M

QoQ: -8.50% | YoY: 205.18%

EPS

Increasing

0.53

QoQ: -3.64% | YoY: 208.16%

Revenue Trend

Margin Analysis

Financial Highlights

1. Revenue: $2.1 billion in Q4, up 24% YoY; annual revenue reached $7.1 billion, a 26% increase.
2. Gross Profit: $1.1 billion in Q4, 33% YoY growth, achieving a gross margin of 49.5%.
3. Operating Income: $289 million or 13.5% of revenue,
4. Free Cash Flow: $446 million in Q4, translating to a free cash flow margin of 21%.
5. Customer Growth: 35% more merchants added internationally, with significant contributions from markets outside North America.
6. Management highlighted the successful Black Friday-Cyber Monday, where over $9.3 billion in sales were processed, an increase of 24% from prior year.
7. Merchant Solutions revenue reached $1.6 billion, driven by GMV exceeding $75.1 billion in Q4, a 23% YoY increase, as more merchants utilized its platform for payments.

Income Statement

Metric	Value	YoY Change	QoQ Change
Revenue	2.14B	23.58%	25.09%
Gross Profit	1.06B	33.00%	17.87%
Operating Income	204.50M	208.34%	67.62%
Net Income	657.00M	205.18%	-8.50%
EPS	0.53	208.16%	-3.64%

Key Financial Ratios

Gross Profit Margin

Good

49.50%

Gross profit margin is healthy and competitive within industry standards

Operating Profit Margin

Fair

9.54%

Operating margin is moderate, room for improvement in cost management

Net Profit Margin

Excellent

30.60%

Net profit margin is exceptional, indicating strong pricing power and operational efficiency

Return on Assets

Fair

5.81%

Return on assets is acceptable but below top-tier companies

Return on Equity

Fair

7.25%

Return on equity is acceptable but below top-tier companies

Current Ratio

Strong

6.99

Current ratio indicates excellent liquidity and financial flexibility

Debt to Equity

Conservative

0.13

Debt-to-equity shows conservative leverage and low financial risk

P/E Ratio

Growth

38.11x

Elevated P/E suggests growth expectations or premium valuation

Price to Book

High Premium

11.05x

Very high premium suggests asset-light business model or lofty expectations

Historical Earnings Comparison

Period	Revenue ($M)	EPS ($)	YoY Growth	Report
Q4 2024	2,812.00	0.99	+31.2%	View
Q3 2024	2,162.00	0.64	+26.1%	View
Q2 2024	2,044.58	0.13	+20.7%	View
Q1 2024	1,861.00	-0.21	+23.4%	View
Q4 2023	2,144.00	0.52	+23.6%	View

Shopify Inc (SHOP) Q4 2023 Earnings Report

Company Status Snapshot

Earnings Highlights

Executive Summary

Key Performance Indicators

Revenue Trend

Margin Analysis

Financial Highlights

Income Statement

Key Financial Ratios

Management Insights Available for Members

Peer Comparison Available for Members

Investment Outlook & SWOT Available for Members

Historical Earnings Comparison

More SHOP Quarterly Reports

SHOP

SHOP

SHOP

SHOP

Q4 2023 Reports in Technology Sector

Related Financial Data

Sector Analysis: Technology

SHOP Full Profile

SHOP Financial Statements

Earnings Calendar