Shopify's 2025 results: B2B momentum and AI-driven sales channels fuel 30% revenue growth
Shopify closed 2025 with clear momentum for anyone selling online. Revenue rose 30% to $11.56 billion for the year, with Q4 up 31% to $3.67 billion. The engine: explosive B2B demand and new "agentic" commerce that starts inside AI tools and finishes on Shopify.
Operating income grew as well - up 36% in Q4 to $631 million and 37% for the year to $1.47 billion. Net income fell year over year because of investment swings, but adjusted profit increased in both Q4 ($594 million) and the full year ($1.53 billion). GMV grew 29% to $378.4 billion in 2025, with Q4 GMV up 31% to $123.8 billion.
Why sales teams should care
Two trends matter right now: wholesale is scaling fast on Shopify, and AI is becoming a real channel, not a demo. If you sell into retail or distribute to accounts with terms, Shopify's B2B feature set is finally good enough to unify wholesale and DTC without duct tape.
B2B on Shopify: features that move deals forward
- Create company accounts with multiple buyers.
- Offer negotiated pricing and custom catalogs.
- Set payment terms instead of requiring immediate payment.
- Apply volume discounts.
- Manage both wholesale and consumer sales through the same inventory and checkout system.
B2B GMV jumped 96% for 2025 and 84% in Q4 alone. Shopify is landing larger wholesale customers (for example, Sonepar) and limiting B2B features to Plus - a clear signal they're serious about enterprise-grade accounts.
AI commerce moves from concept to channel
Shopify is investing in "agentic" commerce - purchases that start in AI chat or search and complete on Shopify. In January, the company co-developed the Universal Commerce Protocol with Google so AI systems can connect directly to storefronts and checkout, while merchants keep pricing rules, terms, and order controls intact.
That means a buyer could kick off an order inside tools like Google Gemini, ChatGPT, or Microsoft Copilot, and your team still gets clean orders, proper terms, and payment flows. For sellers, this is a new top-of-funnel that can convert directly into structured orders without extra admin.
Key numbers at a glance
- Revenue: $3.67B in Q4 (+31%); $11.56B in 2025 (+30%).
- Operating income: $631M in Q4 (+36%); $1.47B in 2025 (+37%).
- Net income: $743M in Q4 (down from $1.29B YoY); $1.23B in 2025 (down from $2.02B YoY).
- Adjusted profit (ex-investments): $594M in Q4 (up from $458M); $1.53B in 2025 (up from $1.24B).
- GMV: $123.8B in Q4 (+31%); $378.4B in 2025 (+29%).
- B2B GMV: +96% in 2025; +84% in Q4.
Outlook for Q1 2026
Shopify expects revenue growth in the low 30% range, similar to Q4. Translation for sellers: B2B and AI-driven channels will keep getting more important - and more crowded.
What to do next (sales playbook)
- Qualify for Plus if wholesale is material. The B2B features save time on quotes, terms, and repeat orders - and reduce ops friction.
- Standardize pricing and catalogs. Clean tiers and SKUs make negotiated pricing and volume discounts easier to enforce across accounts.
- Set payment terms by segment. Use terms to win larger deals without gutting margin; automate collections and reminders.
- Enable multi-buyer company accounts. Let procurement, AP, and field reps place orders without bottlenecks.
- Prepare product data for AI channels. Keep titles, specs, availability, and pricing current so AI agents return accurate offers.
- Measure the right KPIs. Track B2B GMV, reorder rate, days sales outstanding, average order value, and share of orders originating in AI/search.
If you sell on Shopify today
- Unify wholesale and DTC inventory and checkout to cut errors and speed fulfillment.
- Roll out volume-based and contract pricing to lock in multi-location accounts.
- Pilot AI-originated orders with a narrow product set, then expand once data quality and fulfillment SLAs hold.
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