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Shopify SHOP Q2 2026 earnings

Reported August 5, 2026 · Before market open

Revenue$3.6BBeat by $187.8M
EPS$0.42Beat by $0.02
Revenue estimate$3.4B
EPS estimate$0.40
“This was a monster quarter: more than 30% growth in GMV AND revenue AND gross profit AND free cash flow. We power every kind of business, and with AI, we're expanding what's possible for all of them. No one else comes close.”
Harley Finkelstein

Next report

Nov 3, 2026 (in a month)
Revenue estimate$3.7B
EPS estimate$0.46

Financials

Q2 2026

Income statement

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Revenue$3.6B+33.7%
Gross profit$1.7B+31.2%
Operating income$488.0M+67.7%
Net income$1.5B+65.8%
EPS (diluted)$1.16+68.1%

Balance sheet

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Cash & equivalents$1.7B+7.4%
Total debt$178.0M-84.4%
Total equity$12.7B+4.6%
Total assets$14.5B-0.6%

Cash flow

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Operating cash flow$658.0M+53.7%
CapEx$4.0M-33.3%
Free cash flow$654.0M+55.0%

Valuation & ratios

Valuation

as of 10/02/26
See full
Market cap$191.83B-2.4%
Enterprise value$190.35B-2.6%
P/E104.1×-81.7×
P/S14.5×-5.0×

Profitability

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Gross margin47.8%-1.6pp
Operating margin13.9%+1.5pp
Net margin13.9%-9.0pp
FCF margin17.7%-0.4pp

Returns & leverage

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Return on equity14.9%-6.7pp
Debt / equity0×-0.1×
Current ratio5.4×+1.5×

Segments

By geography

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Europe$721.0M—
Rest Of World$62.0M—

By product

See full
Merchant solutions$2.8B+37.4%
Subscription solutions$802.0M+22.3%

FAQ

When did Shopify report Q2 2026 earnings?
Shopify (SHOP) reported Q2 2026 earnings on August 5, 2026 before market open.
What were Shopify's Q2 2026 revenue and EPS?
Shopify reported revenue of $3.6B and eps of $0.42 for Q2 2026.
Did Shopify beat estimates in Q2 2026?
Revenue beat the consensus estimate of $3.4B by $187.8M. EPS beat the consensus estimate of $0.40 by $0.02.
How did Shopify's Q2 2026 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 33.7% from $2.7B a year earlier and eps grew 20.0% from $0.35.
Where can I find Shopify's Q2 2026 SEC filings?
You can read the 8-K earnings release (0001594805-26-000046) and the 10-Q periodic report (0001594805-26-000047) directly on SEC EDGAR. The filing index links above go to sec.gov.