Revenue $3.58B, up 33.7% on a year earlier. Gross Merchandise Volume (GMV) $115.57B, up 31.6%. Diluted EPS $1.16 against $0.69.
| Q2 FY26 | Q1 FY26 | Q2 FY25 | Year over year | |
|---|---|---|---|---|
| Revenue | $3.58B | $3.17B | $2.68B | +33.7% |
| Operating income | $488.00M | $382.00M | $291.00M | +67.7% |
| Net income | $1.50B | -$581.00M | $906.00M | +65.8% |
| Diluted EPS | $1.16 | -$0.45 | $0.69 | |
| Operating cash flow | $658.00M | $481.00M | $428.00M | +53.7% |
| Capital expenditures | -$4.00M | -$5.00M | -$6.00M | |
| Free cash flow | $654.00M | $476.00M | $422.00M | +55.0% |
| Q2 FY26 | Q2 FY25 | Year over year | |
|---|---|---|---|
| Revenue growth rate | 34% | 31% | |
| Gross Merchandise Volume (GMV) | $115.57B | $87.84B | +31.6% |
| Merchant solutions revenue | $2.78B | $2.02B | +37.4% |
| Monthly Recurring Revenue | $221.00M | $185.00M | +19.5% |
| Subscription solutions revenue | $802.00M | $656.00M | +22.3% |
The week's biggest guidance misses, KPI surprises and one chart.
Stock Atlas, “Shopify (SHOP) Q2 FY26 earnings: results and KPIs”, stockatlas.com/companies/SHOP/earnings/2026-q2/, data as of 3 November 2026. Links to this page are welcome.
