---
schema_version: "secwatch.filing_event.v1"
accession: "0001594805-25-000011"
form_type: "8-K"
ticker: "SHOP"
cik: "0001594805"
company_name: "SHOPIFY INC."
filed_at: "2025-02-11T23:59:59+00:00"
generated_at: "2026-05-26T23:22:17.098431+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Shopify Q4 revenue $2.81B (+31% YoY); free cash flow margin expands to 22%

## Summary
- Q4 revenue $2.81B (+31% YoY); GAAP operating income $465M vs $289M a year ago.
- Q4 GMV $94.5B (+26% YoY); full-year GMV $292.3B (+24% YoY).
- Q4 free cash flow $611M; free cash flow margin 22% (up from 21% in Q4 2023).
- Full-year 2024 revenue $8.88B (+26% YoY); full-year free cash flow $1.60B, margin 18%.
- MRR at year-end $178M, up 24% YoY; seventh consecutive quarter of 25%+ rev growth ex-logistics.

## SEC filing metadata
- accession: 0001594805-25-000011
- form_type: 8-K
- ticker: SHOP
- cik: 0001594805
- company_name: SHOPIFY INC.
- filed_at: 2025-02-11T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1594805/000159480525000011/0001594805-25-000011-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1594805/000159480525000011/shop-20250211.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001594805-25-000011
- JSON: https://secwatch.observer/filing/0001594805-25-000011.json
- Plain text: https://secwatch.observer/filing/0001594805-25-000011.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.