Shopify (SHOP) Q3 FY2026 earnings: revenue $3.7 billion, up 31.6% on the year
Shopify Inc. (SHOP) reported revenue of $3.7 billion for Q3 FY2026, the quarter ended 30 September 2026, up 31.6% on the same quarter a year earlier. Net income was $462 million, up 75.0% on the year, and diluted earnings per share $0.36. The figures are the company's own, from the 10-Q it filed with the SEC on 3 November 2026.
Revenue
$3.7 billion
+31.6% on the year · +4.4% on the quarter
Q4 FY2024Q3 FY2026
Operating margin
15.2%
12.1% a year earlier
Q4 FY2024Q3 FY2026
Net income
$462 million
+75.0% on the year · -69.2% on the quarter
Q4 FY2024Q3 FY2026
Diluted EPS
$0.36
+80.0% on the year · -69.0% on the quarter
Q4 FY2024Q3 FY2026
this quarterthe same quarter a year earlierHover a bar for its figure.
What management said
Revenue grew 32% to 3,742: Revenue was 3,742 against 2,844 a year earlier. The prior quarter reported revenue growth of 34%.
Gross profit and operating income rose: Gross profit was 1,781 against 1,391. Operating income was 568 against 343, up 66%.
Merchant solutions revenue grew 35%: Merchant solutions revenue was 2,906 against 2,145, an increase of 35%.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
Q3 FY2026
Q2 FY2026
Q3 FY2025
On the quarter
On the year
Last 8 quarters
Operating cash flow
818
658
513
+24.3%
+59.5%
Capital expenditure
2.0
4.0
6.0
-50.0%
-66.7%
Free cash flow
816
654
507
+24.8%
+60.9%
Free cash flow margin
21.8%
18.3%
17.8%
Cash from investing
-60.0
571
335
Cash from financing
-547
-1,417
24.0
Depreciation and amortisation
7.0
7.0
8.0
0.0%
-12.5%
Share-based compensation
140
128
107
+9.4%
+30.8%
Buybacks
562
1,420
0.0
-60.4%
Diluted shares, weighted
1,291m
1,298m
1,313m
-0.6%
-1.7%
Shares outstanding at period end
1,287m
1,287m
1,302m
-0.0%
-1.2%
Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.
Balance sheet
$ million
Q3 FY2026
Q2 FY2026
Q3 FY2025
On the quarter
On the year
Last 8 quarters
Shareholders' equity
12,749
12,684
12,511
+0.5%
+1.9%
Debt
0.0
0.0
920
Operating lease liabilities
181
168
176
+7.7%
+2.8%
Other liabilities
1,734
1,618
1,432
+7.2%
+21.1%
Total liabilities and equity
14,664
14,470
15,039
+1.3%
-2.5%
Fixed assets
50.0
53.0
51.0
-5.7%
-2.0%
Goodwill
495
491
491
+0.8%
+0.8%
Intangible assets
125
27.0
33.0
+363.0%
+278.8%
Investments
3,383
3,816
4,611
-11.3%
-26.6%
Cash and equivalents
1,868
1,656
2,414
+12.8%
-22.6%
Receivables
483
466
396
+3.6%
+22.0%
Other assets
8,260
7,961
7,043
+3.8%
+17.3%
Total assets
14,664
14,470
15,039
+1.3%
-2.5%
Questions
What was Shopify's revenue in Q3 FY2026?
Shopify (SHOP) reported revenue of $3.7 billion for Q3 FY2026, the quarter ended 30 September 2026, up 31.6% on the same quarter a year earlier.
How much did Shopify earn in Q3 FY2026?
Net income for Q3 FY2026 was $462 million, up 75.0% on the year, and diluted earnings per share $0.36.
When did Shopify report Q3 FY2026 results?
Shopify filed its 10-Q for the quarter ended 30 September 2026 with the SEC on 3 November 2026.
Each quarter as filed, linked to its filing. Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.
10-Q for the period ended 30 September 2026, filed 3 November 2026: the filing.