Shopify reports US$581M Q1 loss, revenue up 34 per cent from year earlier

The company logo hangs on the Ottawa headquarters of Canadian e-commerce company Shopify. (Justin Tang/The Canadian Press via AP, File)

Shopify Inc. reported a net loss of US$581 million for its latest quarter compared with a loss of US$682 million in the same quarter last year.

The company, which keeps its books in U.S. dollars, says the loss amounted to 45 cents US per diluted share for the quarter ended March 31 compared with a loss of 53 cents US per diluted share a year earlier.

Revenue totalled US$3.17 billion, up from US$2.36 billion in the first quarter of 2025.

The increase came as subscription solutions revenue totalled US$750 million, up from US$620 million a year ago, while merchant solutions revenue rose to US$2.42 billion, up from US$1.74 billion.

On adjusted basis, Shopify says it earned 36 cents US per diluted share in its latest quarter compared with an adjusted profit of 25 cents US per diluted share in the same quarter last year.

Analysts on average had expected an adjusted profit of 33 cents US per share and US$3.09 billion in revenue, according to LSEG Data & Analytics.

This report by The Canadian Press was first published May 5, 2026.