Shopify Inc. (SHOP) Q1 2025 Earnings Call Transcript

Shopify Inc. (NASDAQ:SHOP) Q1 2025 Earnings Conference Call May 8, 2025 8:30 AM ET

Company Participants

Carrie Gillard - Director, IR
Harley Finkelstein - President
Jeff Hoffmeister - CFO

Conference Call Participants

Samad Samana - Jefferies
Martin Toner - ATB
Rob Wildhack - Autonomous
Bhavin Shah - Deutsche Bank
Michael Morton - MoffettNathanson
Keith Weiss - Morgan Stanley
Tim Chiodo - UBS
Dominic Ball - Redburn Atlantic

Carrie Gillard

Good morning, and thank you for joining Shopify's First Quarter 2025 Conference Call. I'm Carrie Gillard, Head of Investor Relations, and joining us today are Harley Finkelstein, Shopify's President; and Jeff Hoffmeister, our CFO. After their prepared remarks, we will open it up for your questions.

We will make forward-looking statements on our call today that are based on assumptions, and therefore subject to risks and uncertainties that could cause actual results to differ materially from those projected. Undue reliance should not be placed on these forward-looking statements. We undertake no obligation to update or revise these statements except as required by law. You can read about these assumptions, risks and uncertainties in our press release this morning, as well as in our filings with the U.S. and Canadian regulators.

We will also speak to adjusted financial measures which are non-GAAP and not a substitute for GAAP financial measures. Reconciliations between the two are provided in our press release. And finally, we report in U.S. dollars, so all amounts discussed today are in U.S. dollars unless otherwise indicated.

With that, I'll turn the call over to Harley.

Harley Finkelstein

Thanks, Carrie, and thanks to everyone for being here today. Let's start with the obvious. Today's market is uncertain. As the platform that powers global commerce, we're, of course, monitoring for potential slowdowns, but our data through April shows little evidence of that. It's still early to assess the full impact of