Shopify (SHOP) Q4 FY25 earnings call

Earnings call· Dec 2025 (Q4 FY25)· Information Technology· Feb 11, 2026

Source: earnings call transcript

Shopify delivered a record Q4 and strong FY25, driven by robust GMV growth, international expansion, and increased adoption of its payment solutions. The company is positioning itself at the forefront of AI-powered commerce, launching new protocols and tools to enable Agentic Commerce and enhance merchant operations, aiming to redefine the future of online retail.

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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.