--- title: "Shopify | 10-Q: FY2025 Q3 Revenue Beats Estimate at USD 2.844 B" type: "news" locale: "en" url: "https://longbridge.com/en/news/264214536.md" published_at: "2025-11-04T12:07:49.000Z" --- # Shopify | 10-Q: FY2025 Q3 Revenue Beats Estimate at USD 2.844 B Revenue: As of FY2025 Q3, the actual value is USD 2.844 B, beating the estimate of USD 2.76 B. EPS: As of FY2025 Q3, the actual value is USD 0.2, missing the estimate of USD 0.2544. EBIT: As of FY2025 Q3, the actual value is USD 262 M. ### Financial Metrics by Segment #### Segment Revenue - **Subscription Solutions**: $699 million for Q3 2025, up from $610 million in Q3 2024, representing a 15% increase. For the nine months ended September 30, 2025, subscription solutions revenue was $1,975 million, up from $1,684 million in the same period in 2024, representing a 17% increase. - **Merchant Solutions**: $2,145 million for Q3 2025, up from $1,552 million in Q3 2024, representing a 38% increase. For the nine months ended September 30, 2025, merchant solutions revenue was $5,909 million, up from $4,384 million in the same period in 2024, representing a 35% increase. #### Operational Metrics - **Gross Profit**: $1,391 million for Q3 2025, up from $1,118 million in Q3 2024, representing a 24% increase. For the nine months ended September 30, 2025, gross profit was $3,862 million, up from $3,120 million in the same period in 2024, representing a 24% increase. - **Operating Expenses**: $1,048 million for Q3 2025, up from $835 million in Q3 2024, representing a 26% increase. For the nine months ended September 30, 2025, operating expenses were $3,025 million, up from $2,510 million in the same period in 2024, representing a 21% increase. - **Net Income**: $264 million for Q3 2025, down from $828 million in Q3 2024. For the nine months ended September 30, 2025, net income was $488 million, down from $726 million in the same period in 2024. #### Cash Flow - **Operating Cash Flow**: $513 million for Q3 2025, up from $423 million in Q3 2024. For the nine months ended September 30, 2025, operating cash flow was $1,308 million, up from $1,001 million in the same period in 2024. #### Unique Metrics - **Monthly Recurring Revenue (MRR)**: $193 million as of September 30, 2025, up from $175 million as of September 30, 2024, representing a 10% increase. - **Gross Merchandise Volume (GMV)**: $92.0 billion for Q3 2025, up from $69.7 billion in Q3 2024, representing a 32% increase. For the nine months ended September 30, 2025, GMV was $254.6 billion, up from $197.8 billion in the same period in 2024, representing a 29% increase. ### Future Outlook and Strategy #### Core Business Focus - **Expansion of Shopify Payments**: Continued focus on increasing the penetration rate of Shopify Payments, which was 65% for the nine months ended September 30, 2025, up from 61% in the same period in 2024. - **Investment in AI and Machine Learning**: Ongoing investment in data analytics, machine learning, and AI to enhance platform functionality and merchant success. - **International Expansion**: Continued expansion of platform capabilities and offerings internationally to grow addressable markets and meet merchant needs. #### Non-Core Business - **Strategic Partnerships and Acquisitions**: Formation of strategic partnerships and potential acquisitions to enhance ecosystem and partner programs, including the acquisition of Vantage Discovery Inc. for $59 million to accelerate AI-powered search capabilities. #### Priority - **Focus on Merchant Solutions**: Emphasis on growing merchant solutions revenue, which accounted for 75% of total revenue for the nine months ended September 30, 2025, up from 72% in the same period in 2024. - **Cost Management**: Efforts to manage operating expenses, which increased by 21% for the nine months ended September 30, 2025, compared to a 30% increase in total revenue for the same period. ### Related Stocks - [SHOP.US - Shopify ](https://longbridge.com/en/quote/SHOP.US.md) ## Related News & Research | Title | Description | URL | |-------|-------------|-----| | Insights Ahead: Shopify's Quarterly Earnings | Shopify (NASDAQ:SHOP) is set to release its quarterly earnings report on February 11, 2026, with analysts expecting an E | [Link](https://longbridge.com/en/news/275472633.md) | | Short Interest in Shopify Inc. 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