Overview
- Shares climbed roughly 12% to 17% on Wednesday after results and the outlook topped Wall Street expectations.
- Fourth quarter revenue reached $336.7 million, up 28% year over year, with adjusted EPS of $0.49 and GMV of $2.36 billion, up 37.8%.
- Management guided 2026 revenue to $1.21–$1.27 billion and projected Q1 revenue of $247–$254 million with GMV of $1.705–$1.745 billion, all above prior consensus.
- Profitability and cash generation strengthened in 2025, with free cash flow up 68% to $280.7 million and adjusted EBITDA up 41% to $198.5 million.
- The company completed $72 million of Q4 buybacks with $128 million authorization remaining, while cautioning about potential near‑term volume pressure from EU de‑minimis removal, tariff changes, FX normalization and the early Shopify Managed Markets v2 rollout.