In the second quarter of this year, Shopify increased its business. Compared to the same period in 2024, the company’s gross merchandise value (GMV) grew 42 percent in Europe. Overall, its revenue increased 31 percent.
Shopify is a well-known ecommerce software platform. It is based in the United States, but online sellers all over the world are using it. The software is also popular in Europe. In Germany, for example, the company has a market share of almost 40 percent among small and medium-sized online stores.
Now, Shopify has released financial results for the second quarter of this year, which ended on June 30th. The company generated a revenue of 2.3 billion euros (2.68 billion dollars) in that period. Compared to a year earlier, this was an increase of 31 percent. It also achieved a 16 percent free cash flow margin.
‘GMV and revenue growth rates have accelerated’
By the end of last year, Shopify started supporting payouts in multiple currencies for European merchants. For many sellers, this eliminated a reason to opt for alternative ecommerce software. It seems that these kinds of initiatives from the company are now paying off.
‘Europe was a particular source of strength’
“Shopify delivered another outstanding quarter, with both GMV and revenue growth rates accelerating in North America, Europe, and Asia Pacific, quarter over quarter. Europe was a particular source of strength, where GMV grew 42 percent on a constant currency basis”, said Jeff Hoffmeister, Chief Financial Officer of Shopify. “Merchants of every size—from first-time founders to global brands—are choosing Shopify to grow their businesses and their success is what is driving our success.”
‘Payoff from bets we made years ago’
“Today’s results are the payoff from bold bets we made years ago”, said Harley Finkelstein, President of Shopify. “The investments we are making now will fuel our next chapter. At Shopify, innovation never stops. No matter how good the numbers look, there is always a new frontier in commerce—and we will continue to lead the way.”
