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Shopify: Can AI-Powered Discovery Transform Merchant Sales and Buyer Acquisition?

Shopify Inc. reported robust first-quarter 2026 financial results, demonstrating continued strong growth across its commerce platform. Gross merchandise volume (GMV) reached $101 billion, a 35% year-over-year increase and the second consecutive quarter with merchant sales exceeding $100 billion. Revenue grew 34% to $3.2 billion, supported by broad-based growth across geographies, merchant sizes, and sales channels. The company generated $476 million in free cash flow, representing a 15% free cash flow margin, marking the fourth consecutive quarter with mid- to high-teen free cash flow margins alongside strong revenue and GMV expansion. Shopify emphasized its sustained focus on supporting merchants, highlighted by the onboarding of several notable luxury and heritage brands such as Mulberry, LVMH, Rag & Bone, and Orvis, while simultaneously attracting emerging high-growth merchants.