Shopify (SHOP) Q3 2024 Earnings Call Transcript

Motley Fool Transcribing, The Motley Fool

Tue, December 23, 2025 astatine 10:52 AM CST 54 min read

Image source: The Motley Fool.

Nov. 12, 2024 astatine 8:30 a.m. ET

• President — Harley Finkelstein

• Chief Financial Officer — Jeff Hoffmeister

• Head of Investor Relations — Carrie Gillard

Need a punctuation from a Motley Fool analyst? Email [email protected]

Harley Finkelstein: Thanks, Carrie, and convey you each for joining america today. As we accidental each quarter, Shopify is gathering for the agelong term. Our accordant results 4th aft 4th corroborate that our strategy is moving incredibly well. Q3 was different astonishing 4th crossed the board. GMV was up 24%, marking our 5th consecutive 4th wherever GMV maturation was greater than 20%. Revenue was up 26%. Operating income much than doubled from past year. And escaped currency travel borderline expanded to 19%. These are not conscionable numbers. They reenforce that Shopify is an manufacture leader, delivering connected some maturation and margins, each portion simultaneously creating and leaning into opportunities that bolster our growth.

So, earlier we dive in, fto maine commencement by saying this. If you locomotion distant from this telephone with anything, it should beryllium these 3 things: One, entrepreneurship and commerce are growing, and Shopify is capturing an expanding stock of this immense and expanding market. Two, Shopify is progressively the go-to-platform of prime not conscionable for entrepreneurship, but for each of commerce. We are well-positioned for extended maturation crossed antithetic merchant segments, size, geographies, channels, and products. And three, arsenic our merchants bash better, Shopify does better. Our concern exemplary prioritizes merchant first, fueled by a high-velocity merchandise innovation motor that makes the hard things casual and everything other possible.

Now, let's rapidly dive into immoderate of the cardinal accomplishments successful the quarter. Starting disconnected with product. We physique outstanding tools that enactment seamlessly together, creating a level that is packed with worth and, rather frankly, conscionable works really, truly well. This is wherefore we put truthful heavy successful gathering the astir integrated level connected the planet. And it's each besides wherefore merchants travel to Shopify and wherefore they don't permission Shopify. We are shipping products and enhancements connected a literal regular basis. So, alternatively than springiness you a laundry list, I'd similar to walk a fewer minutes present walking done immoderate of the highlights from the quarter. First, let's speech astir enhancing merchant automation.

Our caller features are making easier for merchants to tally their businesses much efficiently, due to the fact that let's beryllium honest, cipher starts a concern with the extremity of focusing their clip connected income taxation compliance oregon inventory management. These foundational tools marque the nitty-gritty worldly automatic truthful merchants tin absorption connected the crushed they started a concern successful the archetypal place, for the products they are selling. Let's commencement with Shopify Flow, a low-code workflow automation app that empowers merchants to physique customized automations that assistance them tally their businesses much efficiently. This includes a caller automation trigger based connected the merchant's customized information and recently completed Admin API connector that provides an further 304 caller actions to usage successful their automations.