Shopify shares drop after Q3 revenue miss

The gross merchandise volume which measures the total dollar value of orders driven by the Shopify platform reached $119 billion.President of Shopify, Harley Finkelstein said in a statement, “ We powered $119 billion in GMV, while continuing to build commerce into every surface, every agent, and increasingly, everywhere.”Shopify said that for the fourth quarter, the company expects revenue to grow at a low-thirties percentage rate every year.

Gross profit dollars are forecast to grow in the high-twenties percentage range, while operating expenses are expected to consume 29% to 30% of revenue.Furthermore, equity compensation is modeled at $155m; the free cash flow margin is expected to mirror that of the fourth quarter of 2025.

Shopify shares drop after Q3 revenue miss: What to know November 3, 2026.