Shopify (SHOP) Q2 FY25 earnings call

Earnings call· Jun 2025 (Q2 FY25)· Information Technology· Aug 6, 2025

Source: earnings call transcript

Shopify delivered robust Q2 FY25 results, showcasing accelerated GMV growth and strong profitability driven by strategic investments in product and international expansion. The company is actively leading innovation in agentic commerce and expanding its merchant base across diverse verticals, reinforcing its position as a durable commerce platform.

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SHOP operating KPIs by quarter

SHOP operating KPIs stated on its earnings calls, by fiscal quarter
KPI	Dec 2024 Q4 FY24	Sep 2025 Q3 FY25	Change vs prior quarter
Employees	<8,100 As of December 31, 2024, our headcount was just under 8,100 employees, down from approximately 8,300 at the end of 2023. Source: earnings call transcript	~8,100 But all the time, it's the roughly 8,100 people at Shopify who're relentlessly merchant-obsessed showing up every day to help them win. Source: earnings call transcript	—

Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.

Inve summary of the company's earnings call; see how call summaries are prepared. Not investment advice.