What was Shopify's revenue in Q1 2026?

Shopify's revenue was $2.1 billion in Q1 2026, up 23% year-over-year.

Did Shopify turn a profit in Q1?

No, Shopify reported a net loss of $80 million in Q1, narrower than the $120 million loss a year ago.

How did Shopify's stock react to Q1 results?

Shopify's stock fell 5.5% in pre-market trade despite revenue beating estimates.

What is Shopify's guidance for Q2?

Shopify did not provide specific numerical guidance but expects revenue growth to continue at a similar pace with gradual profitability improvement.

Shopify Q1 Net Loss Narrows as Revenue Beats Estimates

Shopify (SHOP) reported a narrower net loss of $80 million in Q1 2026, compared to $120 million a year ago, as revenue rose 23% to $2.1 billion, beating analyst expectations. The stock fell 5.5% in pre-market trading despite the improvement.

Shopify (NYSE: SHOP) reported a narrower net loss for the first quarter of 2026, with revenue exceeding analyst estimates. The company posted a net loss of $80 million ($0.06 per share), compared to a loss of $120 million ($0.09 per share) in Q1 2025. Revenue increased 23% year-over-year to $2.1 billion, above the consensus estimate of $2.05 billion. Despite the positive results, shares fell 5.5% in U.S. pre-market trade on Tuesday.

Key Financial Results

Metric	Q1 2026	Q1 2025	Change
Revenue	$2.1B	$1.71B	+23%
Net Loss	$80M	$120M	-33%
EPS	($0.06)	($0.09)	Improvement

Highlights from the Report

Shopify attributed the improved results to strong growth in subscription revenue and payment solutions, driven by increased e-commerce volume. CEO Tobias Lütke said, "We continue to focus on empowering merchants to grow, and we see strong momentum across all business metrics."

Guidance

The company did not provide specific numerical guidance for Q2 but expects revenue growth to continue at a similar pace, with gradual improvement in profitability.

Stock Reaction

Despite beating revenue estimates, the stock dropped 5.5% in pre-market trading, possibly reflecting investor concerns over ongoing losses or valuation.

What This Means for Investors

The results indicate operational improvement, but persistent losses remain a concern. Investors should monitor the company's path to profitability in upcoming quarters.