Shopify sees Q3 revenue up at low to mid 20% rate on y/y basis

For the third quarter of 2024, Shopify expects: Revenue to grow at a low-to-mid-twenties percentage rate on a year-over-year basis; Gross margin to be higher by approximately 50 basis points compared to Q2 2024; GAAP operating expense as a percentage of revenue to be 41% to 42%; Stock-based compensation to be $120M; and Free cash flow margin to be similar to Q2 2024. Shopify continues to expect to deliver double-digit free cash flow margin for the rest of the year.