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Shopify reports in U.S. dollars and in accordance with U.S. GAAP shopify Shopify Announces Second - Quarter 2021 Financial Results Achieves First $ 1 Billion Revenue Quarter on Record GMV Helping Independent Brands Compete as Commerce Goes Digital Internet , Everywhere - July 28 , 2021 - Shopify Inc. ( NYSE : SHOP ) ( TSX : SHOP ) , a provider of essential internet infrastructure for commerce , announced today strong financial results for the quarter ended June 30 , 2021 . " This past year has been one of great uncertainty for independent merchants . What used to be two completely distinct industries , the retail industry and the online commerce industry , are now just the commerce industry . In this new reality , our goal at Shopify is clearer than ever : we want to give entrepreneurs around the world the best chance to create their own certainty , to reach for independence and to seize opportunity that they uniquely see . Shopify is building the essential infrastructure for this increasingly digital world to allow as many people as possible to participate , " said Tobi Lütke , Shopify's CEO at our recent Shopify Unite developer conference . " Shopify fired on all cylinders in our second quarter , keeping our merchants well equipped to seize the opportunities presented in a post - pandemic retail era , " said Amy Shapero , Shopify's CFO . " As consumer spending remained strong , our merchants thrived and extracted more value from our platform , contributing to our rapid growth . We built on our momentum , making significant updates to our platform infrastructure , expanding strategic partnerships , and advancing our portfolio of growth initiatives to future - proof the success of tomorrow's entrepreneurs . " Second - Quarter Financial Highlights ● ● Total revenue in the second quarter was $ 1,119.4 million , up 57 % year over year . Subscription Solutions revenue was $ 334.2 million , up 70 % year over year , primarily due to more merchants joining the platform . Merchant Solutions revenue was $ 785.2 million , up 52 % , driven primarily by the growth of Gross Merchandise Volume¹ ( " GMV " ) . 1. Gross Merchandise Volume , or GMV , represents the total dollar value of orders facilitated through the Shopify platform including certain apps and channels for which a revenue - sharing arrangement is in place in the period , net of refunds , and inclusive of shipping and handling , duty and value - added taxes .