Shopify (TSX: SHOP) is putting more muscle behind its commitment to return cash to shareholders. The e-commerce company said its board has authorized an additional $3 billion for buying back Class A subordinate voting shares, lifting the total program to $5 billion.
Shopify has already been active under the existing plan, repurchasing approximately $1.45 billion as of June 1. The company executes the program through pre-arranged trading instructions, with no set quarterly or annual minimums.
Chief Financial Officer Jeff Hoffmeister framed the move as a statement of conviction. “Today’s announcement shows our confidence in the durability of our business and the opportunity ahead,” he said, pointing to consistent operating cash flow and a balance sheet built for the long term.
The timing is notable given recent share volatility. Shopify reported full year 2025 revenue of $11.6 billion and followed with first quarter 2026 revenue of $3.17 billion alongside $476 million in free cash flow, yet the stock slid on both reporting days.
The company hit a high of $253 per share in October has failed to return to those price levels in the time since, with the equity trading over $90 below that high.
Shopify last traded at $161.95 on the TSX.
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