Shopify

Q2 FY2026 EarningsQ2 FY26 results significantly exceeded consensus across all top and bottom-line metrics: revenue of $3.58B beat the $3.44B expected, while FCF of $654M surged past the $564M mean estimate. Growth was driven by 32% YoY GMV expansion and 37% growth in Merchant Solutions. Q3 FY26 guidance for low-thirties revenue growth and high-teens to low-twenties FCF margin remains robust, suggesting continued AI-driven operating leverage.