The 52-week high would be a 40% gain in a year. Doable in a good market, but not something to guarantee. We have comments posted on the quarter. On the call, revenue growth of 25% was highlighted, and many analysts were light on this number. But at the same time operating expenses decreased, so margins improved. Free cash flow margin more than doubled. Offline business rose 27%, another metric where analysts expected less. Shopify payments also accelerated (last year 45%, this year 61%). International new customer growth was also a better variable than expected. Growth of about 30% is expected in 2025. Results were strong, and went against some of the worry about consumer spending. This should be somewhat of a catalyst for more gains in the stock, assuming a co-operating market backdrop.
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