eCommerce on Fire: Back to Pandemic Highs (And What Shopify’s $75B Quarter Tells Us)
SaaStr
AUGUST 4, 2025
billion in GMV (up 23% YoY) $2.36 billion in revenue (up 27% YoY) $363 million in free cash flow (15% margin) Seven consecutive quarters of 20%+ GMV growth Eight consecutive quarters of 25%+ revenue growth For perspective, Shopify’s twelve-month revenue ending March 31, 2025 was $9.379B, a 26.52% increase year-over-year.
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