Shopify Inc. reported significant growth driven by AI-powered commerce channels in the first quarter of 2026, with AI-driven traffic to Shopify stores increasing eightfold year over year and orders from AI searches jumping nearly 13 times. The company achieved revenues of $3.17 billion, a 34% increase from the previous year, while gross merchandise volume (GMV) exceeded $100 billion for the second consecutive quarter. Free cash flow reached $476 million, reflecting a 15% margin.
Shopify’s proprietary AI assistant, Sidekick, has seen a fourfold increase in weekly active shops year over year, with over 12,000 custom apps created in the first quarter. The platform’s integration with ChatGPT, Microsoft Copilot, and Google AI positions Shopify as a leader in AI-enabling commerce, outpacing competitors like Amazon and Wix.com.
Despite a year-to-date decline of 36.3% in share price, Shopify carries a forward price-to-earnings ratio of 53.11. Analysts have projected a 52.1% increase in earnings per share, rising to $1.78 for 2026.
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