<\/p>\n
Follow<\/span><\/span><\/span><\/button><\/div>\n<\/div>\n\n<\/svg><\/span><\/span>Play Earnings Call<\/span><\/span><\/button><\/svg><\/span><\/span>Play Earnings Call<\/span><\/span><\/button><\/div>\n<\/div>\n\n\n\n\n\nShopify Inc. (SHOP<\/span>) 53rd Annual Nasdaq Investor Conference December 9, 2025 7:00 PM EST<\/p>\n<\/div>\n\nCompany Participants<\/strong><\/p>\nJeff Hoffmeister – Chief Financial Officer<\/span><\/p>\n<\/p><\/div>\n\nConference Call Participants<\/strong><\/p>\nKeith Weiss – Morgan Stanley, Research Division<\/span><\/p>\n<\/p><\/div>\n\nPresentation<\/strong><\/p>\n\nKeith Weiss<\/strong><\/span>Morgan Stanley, Research Division<\/i><\/span><\/p>\nAll right. So we’ll get kicked off here. Thank you, everyone, for joining us. My name is Keith Weiss. I run the U.S. software equity research franchise here at Morgan Stanley. And very pleased to have with us from Shopify, CFO, Jeff Hoffmeister. Jeff, thank you for joining us.<\/p>\n<\/p><\/div>\n\nJeff Hoffmeister<\/strong><\/span>Chief Financial Officer<\/i><\/span><\/p>\nGreat. Of course. Good to see you, Keith.<\/p>\n<\/p><\/div>\n\nKeith Weiss<\/strong><\/span>Morgan Stanley, Research Division<\/i><\/span><\/p>\nSo super exciting time at Shopify. I feel like it’s always super exciting time at Shopify. A lot of stuff to talk about. I’m actually going to start at the bottom of my question list and work away. I want to touch on some of the newer innovations for 2 reasons. One, it’s very interesting what Shopify is doing when it comes to Agentic Commerce and this is a new potential kind of channel and a new theme that we’ve been talking about. But it’s also — I think it really exemplifies Shopify and what makes Shopify special is just how far ahead of the marketplace you guys have been in getting out technologies to help support your merchants for the potential for Agentic Commerce, but also to create new rails for the Agentic Commerce providers to actually be able to execute on this.<\/p>\n<\/p><\/div>\n<\/p><\/div>\n\nQuestion-and-Answer Session<\/strong><\/p>\n\nKeith Weiss<\/strong><\/span>Morgan Stanley, Research Division<\/i><\/span><\/p>\nSo maybe to start out with, take my statement and make it into a question. What’s the kind of current thinking on Agentic Commerce for Shopify in terms of where are we with sort of pushing this out? What are the technologies that are going<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n
Shopify Inc. (SHOP<\/span>) 53rd Annual Nasdaq Investor Conference December 9, 2025 7:00 PM EST<\/p>\n<\/div>\n\nCompany Participants<\/strong><\/p>\nJeff Hoffmeister – Chief Financial Officer<\/span><\/p>\n<\/p><\/div>\n\nConference Call Participants<\/strong><\/p>\nKeith Weiss – Morgan Stanley, Research Division<\/span><\/p>\n<\/p><\/div>\n\nPresentation<\/strong><\/p>\n\nKeith Weiss<\/strong><\/span>Morgan Stanley, Research Division<\/i><\/span><\/p>\nAll right. So we’ll get kicked off here. Thank you, everyone, for joining us. My name is Keith Weiss. I run the U.S. software equity research franchise here at Morgan Stanley. And very pleased to have with us from Shopify, CFO, Jeff Hoffmeister. Jeff, thank you for joining us.<\/p>\n<\/p><\/div>\n\nJeff Hoffmeister<\/strong><\/span>Chief Financial Officer<\/i><\/span><\/p>\nGreat. Of course. Good to see you, Keith.<\/p>\n<\/p><\/div>\n\nKeith Weiss<\/strong><\/span>Morgan Stanley, Research Division<\/i><\/span><\/p>\nSo super exciting time at Shopify. I feel like it’s always super exciting time at Shopify. A lot of stuff to talk about. I’m actually going to start at the bottom of my question list and work away. I want to touch on some of the newer innovations for 2 reasons. One, it’s very interesting what Shopify is doing when it comes to Agentic Commerce and this is a new potential kind of channel and a new theme that we’ve been talking about. But it’s also — I think it really exemplifies Shopify and what makes Shopify special is just how far ahead of the marketplace you guys have been in getting out technologies to help support your merchants for the potential for Agentic Commerce, but also to create new rails for the Agentic Commerce providers to actually be able to execute on this.<\/p>\n<\/p><\/div>\n<\/p><\/div>\n\nQuestion-and-Answer Session<\/strong><\/p>\n\nKeith Weiss<\/strong><\/span>Morgan Stanley, Research Division<\/i><\/span><\/p>\nSo maybe to start out with, take my statement and make it into a question. What’s the kind of current thinking on Agentic Commerce for Shopify in terms of where are we with sort of pushing this out? What are the technologies that are going<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n
Company Participants<\/strong><\/p>\nJeff Hoffmeister – Chief Financial Officer<\/span><\/p>\n<\/p><\/div>\n\nConference Call Participants<\/strong><\/p>\nKeith Weiss – Morgan Stanley, Research Division<\/span><\/p>\n<\/p><\/div>\n\nPresentation<\/strong><\/p>\n\nKeith Weiss<\/strong><\/span>Morgan Stanley, Research Division<\/i><\/span><\/p>\nAll right. So we’ll get kicked off here. Thank you, everyone, for joining us. My name is Keith Weiss. I run the U.S. software equity research franchise here at Morgan Stanley. And very pleased to have with us from Shopify, CFO, Jeff Hoffmeister. Jeff, thank you for joining us.<\/p>\n<\/p><\/div>\n\nJeff Hoffmeister<\/strong><\/span>Chief Financial Officer<\/i><\/span><\/p>\nGreat. Of course. Good to see you, Keith.<\/p>\n<\/p><\/div>\n\nKeith Weiss<\/strong><\/span>Morgan Stanley, Research Division<\/i><\/span><\/p>\nSo super exciting time at Shopify. I feel like it’s always super exciting time at Shopify. A lot of stuff to talk about. I’m actually going to start at the bottom of my question list and work away. I want to touch on some of the newer innovations for 2 reasons. One, it’s very interesting what Shopify is doing when it comes to Agentic Commerce and this is a new potential kind of channel and a new theme that we’ve been talking about. But it’s also — I think it really exemplifies Shopify and what makes Shopify special is just how far ahead of the marketplace you guys have been in getting out technologies to help support your merchants for the potential for Agentic Commerce, but also to create new rails for the Agentic Commerce providers to actually be able to execute on this.<\/p>\n<\/p><\/div>\n<\/p><\/div>\n\nQuestion-and-Answer Session<\/strong><\/p>\n\nKeith Weiss<\/strong><\/span>Morgan Stanley, Research Division<\/i><\/span><\/p>\nSo maybe to start out with, take my statement and make it into a question. What’s the kind of current thinking on Agentic Commerce for Shopify in terms of where are we with sort of pushing this out? What are the technologies that are going<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n
Jeff Hoffmeister – Chief Financial Officer<\/span><\/p>\n<\/p><\/div>\n\nConference Call Participants<\/strong><\/p>\nKeith Weiss – Morgan Stanley, Research Division<\/span><\/p>\n<\/p><\/div>\n\nPresentation<\/strong><\/p>\n\nKeith Weiss<\/strong><\/span>Morgan Stanley, Research Division<\/i><\/span><\/p>\nAll right. So we’ll get kicked off here. Thank you, everyone, for joining us. My name is Keith Weiss. I run the U.S. software equity research franchise here at Morgan Stanley. And very pleased to have with us from Shopify, CFO, Jeff Hoffmeister. Jeff, thank you for joining us.<\/p>\n<\/p><\/div>\n\nJeff Hoffmeister<\/strong><\/span>Chief Financial Officer<\/i><\/span><\/p>\nGreat. Of course. Good to see you, Keith.<\/p>\n<\/p><\/div>\n\nKeith Weiss<\/strong><\/span>Morgan Stanley, Research Division<\/i><\/span><\/p>\nSo super exciting time at Shopify. I feel like it’s always super exciting time at Shopify. A lot of stuff to talk about. I’m actually going to start at the bottom of my question list and work away. I want to touch on some of the newer innovations for 2 reasons. One, it’s very interesting what Shopify is doing when it comes to Agentic Commerce and this is a new potential kind of channel and a new theme that we’ve been talking about. But it’s also — I think it really exemplifies Shopify and what makes Shopify special is just how far ahead of the marketplace you guys have been in getting out technologies to help support your merchants for the potential for Agentic Commerce, but also to create new rails for the Agentic Commerce providers to actually be able to execute on this.<\/p>\n<\/p><\/div>\n<\/p><\/div>\n\nQuestion-and-Answer Session<\/strong><\/p>\n\nKeith Weiss<\/strong><\/span>Morgan Stanley, Research Division<\/i><\/span><\/p>\nSo maybe to start out with, take my statement and make it into a question. What’s the kind of current thinking on Agentic Commerce for Shopify in terms of where are we with sort of pushing this out? What are the technologies that are going<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n
Conference Call Participants<\/strong><\/p>\nKeith Weiss – Morgan Stanley, Research Division<\/span><\/p>\n<\/p><\/div>\n\nPresentation<\/strong><\/p>\n\nKeith Weiss<\/strong><\/span>Morgan Stanley, Research Division<\/i><\/span><\/p>\nAll right. So we’ll get kicked off here. Thank you, everyone, for joining us. My name is Keith Weiss. I run the U.S. software equity research franchise here at Morgan Stanley. And very pleased to have with us from Shopify, CFO, Jeff Hoffmeister. Jeff, thank you for joining us.<\/p>\n<\/p><\/div>\n\nJeff Hoffmeister<\/strong><\/span>Chief Financial Officer<\/i><\/span><\/p>\nGreat. Of course. Good to see you, Keith.<\/p>\n<\/p><\/div>\n\nKeith Weiss<\/strong><\/span>Morgan Stanley, Research Division<\/i><\/span><\/p>\nSo super exciting time at Shopify. I feel like it’s always super exciting time at Shopify. A lot of stuff to talk about. I’m actually going to start at the bottom of my question list and work away. I want to touch on some of the newer innovations for 2 reasons. One, it’s very interesting what Shopify is doing when it comes to Agentic Commerce and this is a new potential kind of channel and a new theme that we’ve been talking about. But it’s also — I think it really exemplifies Shopify and what makes Shopify special is just how far ahead of the marketplace you guys have been in getting out technologies to help support your merchants for the potential for Agentic Commerce, but also to create new rails for the Agentic Commerce providers to actually be able to execute on this.<\/p>\n<\/p><\/div>\n<\/p><\/div>\n\nQuestion-and-Answer Session<\/strong><\/p>\n\nKeith Weiss<\/strong><\/span>Morgan Stanley, Research Division<\/i><\/span><\/p>\nSo maybe to start out with, take my statement and make it into a question. What’s the kind of current thinking on Agentic Commerce for Shopify in terms of where are we with sort of pushing this out? What are the technologies that are going<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n
Keith Weiss – Morgan Stanley, Research Division<\/span><\/p>\n<\/p><\/div>\n\nPresentation<\/strong><\/p>\n\nKeith Weiss<\/strong><\/span>Morgan Stanley, Research Division<\/i><\/span><\/p>\nAll right. So we’ll get kicked off here. Thank you, everyone, for joining us. My name is Keith Weiss. I run the U.S. software equity research franchise here at Morgan Stanley. And very pleased to have with us from Shopify, CFO, Jeff Hoffmeister. Jeff, thank you for joining us.<\/p>\n<\/p><\/div>\n\nJeff Hoffmeister<\/strong><\/span>Chief Financial Officer<\/i><\/span><\/p>\nGreat. Of course. Good to see you, Keith.<\/p>\n<\/p><\/div>\n\nKeith Weiss<\/strong><\/span>Morgan Stanley, Research Division<\/i><\/span><\/p>\nSo super exciting time at Shopify. I feel like it’s always super exciting time at Shopify. A lot of stuff to talk about. I’m actually going to start at the bottom of my question list and work away. I want to touch on some of the newer innovations for 2 reasons. One, it’s very interesting what Shopify is doing when it comes to Agentic Commerce and this is a new potential kind of channel and a new theme that we’ve been talking about. But it’s also — I think it really exemplifies Shopify and what makes Shopify special is just how far ahead of the marketplace you guys have been in getting out technologies to help support your merchants for the potential for Agentic Commerce, but also to create new rails for the Agentic Commerce providers to actually be able to execute on this.<\/p>\n<\/p><\/div>\n<\/p><\/div>\n\nQuestion-and-Answer Session<\/strong><\/p>\n\nKeith Weiss<\/strong><\/span>Morgan Stanley, Research Division<\/i><\/span><\/p>\nSo maybe to start out with, take my statement and make it into a question. What’s the kind of current thinking on Agentic Commerce for Shopify in terms of where are we with sort of pushing this out? What are the technologies that are going<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n
Presentation<\/strong><\/p>\n\nKeith Weiss<\/strong><\/span>Morgan Stanley, Research Division<\/i><\/span><\/p>\nAll right. So we’ll get kicked off here. Thank you, everyone, for joining us. My name is Keith Weiss. I run the U.S. software equity research franchise here at Morgan Stanley. And very pleased to have with us from Shopify, CFO, Jeff Hoffmeister. Jeff, thank you for joining us.<\/p>\n<\/p><\/div>\n\nJeff Hoffmeister<\/strong><\/span>Chief Financial Officer<\/i><\/span><\/p>\nGreat. Of course. Good to see you, Keith.<\/p>\n<\/p><\/div>\n\nKeith Weiss<\/strong><\/span>Morgan Stanley, Research Division<\/i><\/span><\/p>\nSo super exciting time at Shopify. I feel like it’s always super exciting time at Shopify. A lot of stuff to talk about. I’m actually going to start at the bottom of my question list and work away. I want to touch on some of the newer innovations for 2 reasons. One, it’s very interesting what Shopify is doing when it comes to Agentic Commerce and this is a new potential kind of channel and a new theme that we’ve been talking about. But it’s also — I think it really exemplifies Shopify and what makes Shopify special is just how far ahead of the marketplace you guys have been in getting out technologies to help support your merchants for the potential for Agentic Commerce, but also to create new rails for the Agentic Commerce providers to actually be able to execute on this.<\/p>\n<\/p><\/div>\n<\/p><\/div>\n\nQuestion-and-Answer Session<\/strong><\/p>\n\nKeith Weiss<\/strong><\/span>Morgan Stanley, Research Division<\/i><\/span><\/p>\nSo maybe to start out with, take my statement and make it into a question. What’s the kind of current thinking on Agentic Commerce for Shopify in terms of where are we with sort of pushing this out? What are the technologies that are going<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n
Keith Weiss<\/strong><\/span>Morgan Stanley, Research Division<\/i><\/span><\/p>\nAll right. So we’ll get kicked off here. Thank you, everyone, for joining us. My name is Keith Weiss. I run the U.S. software equity research franchise here at Morgan Stanley. And very pleased to have with us from Shopify, CFO, Jeff Hoffmeister. Jeff, thank you for joining us.<\/p>\n<\/p><\/div>\n\nJeff Hoffmeister<\/strong><\/span>Chief Financial Officer<\/i><\/span><\/p>\nGreat. Of course. Good to see you, Keith.<\/p>\n<\/p><\/div>\n\nKeith Weiss<\/strong><\/span>Morgan Stanley, Research Division<\/i><\/span><\/p>\nSo super exciting time at Shopify. I feel like it’s always super exciting time at Shopify. A lot of stuff to talk about. I’m actually going to start at the bottom of my question list and work away. I want to touch on some of the newer innovations for 2 reasons. One, it’s very interesting what Shopify is doing when it comes to Agentic Commerce and this is a new potential kind of channel and a new theme that we’ve been talking about. But it’s also — I think it really exemplifies Shopify and what makes Shopify special is just how far ahead of the marketplace you guys have been in getting out technologies to help support your merchants for the potential for Agentic Commerce, but also to create new rails for the Agentic Commerce providers to actually be able to execute on this.<\/p>\n<\/p><\/div>\n<\/p><\/div>\n\nQuestion-and-Answer Session<\/strong><\/p>\n\nKeith Weiss<\/strong><\/span>Morgan Stanley, Research Division<\/i><\/span><\/p>\nSo maybe to start out with, take my statement and make it into a question. What’s the kind of current thinking on Agentic Commerce for Shopify in terms of where are we with sort of pushing this out? What are the technologies that are going<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n
All right. So we’ll get kicked off here. Thank you, everyone, for joining us. My name is Keith Weiss. I run the U.S. software equity research franchise here at Morgan Stanley. And very pleased to have with us from Shopify, CFO, Jeff Hoffmeister. Jeff, thank you for joining us.<\/p>\n<\/p><\/div>\n
Jeff Hoffmeister<\/strong><\/span>Chief Financial Officer<\/i><\/span><\/p>\nGreat. Of course. Good to see you, Keith.<\/p>\n<\/p><\/div>\n\nKeith Weiss<\/strong><\/span>Morgan Stanley, Research Division<\/i><\/span><\/p>\nSo super exciting time at Shopify. I feel like it’s always super exciting time at Shopify. A lot of stuff to talk about. I’m actually going to start at the bottom of my question list and work away. I want to touch on some of the newer innovations for 2 reasons. One, it’s very interesting what Shopify is doing when it comes to Agentic Commerce and this is a new potential kind of channel and a new theme that we’ve been talking about. But it’s also — I think it really exemplifies Shopify and what makes Shopify special is just how far ahead of the marketplace you guys have been in getting out technologies to help support your merchants for the potential for Agentic Commerce, but also to create new rails for the Agentic Commerce providers to actually be able to execute on this.<\/p>\n<\/p><\/div>\n<\/p><\/div>\n\nQuestion-and-Answer Session<\/strong><\/p>\n\nKeith Weiss<\/strong><\/span>Morgan Stanley, Research Division<\/i><\/span><\/p>\nSo maybe to start out with, take my statement and make it into a question. What’s the kind of current thinking on Agentic Commerce for Shopify in terms of where are we with sort of pushing this out? What are the technologies that are going<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n
Great. Of course. Good to see you, Keith.<\/p>\n<\/p><\/div>\n
Keith Weiss<\/strong><\/span>Morgan Stanley, Research Division<\/i><\/span><\/p>\nSo super exciting time at Shopify. I feel like it’s always super exciting time at Shopify. A lot of stuff to talk about. I’m actually going to start at the bottom of my question list and work away. I want to touch on some of the newer innovations for 2 reasons. One, it’s very interesting what Shopify is doing when it comes to Agentic Commerce and this is a new potential kind of channel and a new theme that we’ve been talking about. But it’s also — I think it really exemplifies Shopify and what makes Shopify special is just how far ahead of the marketplace you guys have been in getting out technologies to help support your merchants for the potential for Agentic Commerce, but also to create new rails for the Agentic Commerce providers to actually be able to execute on this.<\/p>\n<\/p><\/div>\n<\/p><\/div>\n\nQuestion-and-Answer Session<\/strong><\/p>\n\nKeith Weiss<\/strong><\/span>Morgan Stanley, Research Division<\/i><\/span><\/p>\nSo maybe to start out with, take my statement and make it into a question. What’s the kind of current thinking on Agentic Commerce for Shopify in terms of where are we with sort of pushing this out? What are the technologies that are going<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n
So super exciting time at Shopify. I feel like it’s always super exciting time at Shopify. A lot of stuff to talk about. I’m actually going to start at the bottom of my question list and work away. I want to touch on some of the newer innovations for 2 reasons. One, it’s very interesting what Shopify is doing when it comes to Agentic Commerce and this is a new potential kind of channel and a new theme that we’ve been talking about. But it’s also — I think it really exemplifies Shopify and what makes Shopify special is just how far ahead of the marketplace you guys have been in getting out technologies to help support your merchants for the potential for Agentic Commerce, but also to create new rails for the Agentic Commerce providers to actually be able to execute on this.<\/p>\n<\/p><\/div>\n<\/p><\/div>\n
Question-and-Answer Session<\/strong><\/p>\n\nKeith Weiss<\/strong><\/span>Morgan Stanley, Research Division<\/i><\/span><\/p>\nSo maybe to start out with, take my statement and make it into a question. What’s the kind of current thinking on Agentic Commerce for Shopify in terms of where are we with sort of pushing this out? What are the technologies that are going<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n
Keith Weiss<\/strong><\/span>Morgan Stanley, Research Division<\/i><\/span><\/p>\nSo maybe to start out with, take my statement and make it into a question. What’s the kind of current thinking on Agentic Commerce for Shopify in terms of where are we with sort of pushing this out? What are the technologies that are going<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n
So maybe to start out with, take my statement and make it into a question. What’s the kind of current thinking on Agentic Commerce for Shopify in terms of where are we with sort of pushing this out? What are the technologies that are going<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n
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