Shopify reports increased adoption of its AI tools. Merchants use the AI assistant, Sidekick, more frequently for customer support.
The company launched a new AI-powered content localization product to expand international sales. These tools focus on merchant productivity and cross-border commerce.
Investors remain cautious despite the AI adoption. Concerns center on Shopify's high valuation and a P/E ratio significantly above the industry average.
Profit margins dropped from 17.2% to 10.8%.
Shopify stock is down 34.5% year-to-date. The stock saw a slight increase over the past week.