Building millionaire-level wealth usually comes from owning exceptional businesses that keep growing year after year. While no stock can guarantee that kind of return, Shopify (TSX:SHOP) remains one of the TSX‘s strongest long-term growth stories, making it an attractive option for patient investors.
After having built one of the world’s leading commerce platforms, the company continues to deliver impressive financial growth and is finding new growth opportunities through artificial intelligence (AI). For investors willing to ride out short-term volatility, Shopify could still have enormous upside ahead, in my opinion. Let me explain why.
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A commerce giant built for long-term growth
Today, Shopify’s platform helps businesses across the globe manage nearly every aspect of selling products, including online and in-store sales, payments, shipping, inventory, marketing, and customer engagement. As its merchant base grows, many also adopt Shopify’s expanding ecosystem of services, creating additional revenue opportunities for the company.
Currently, Shopify stock trades at $171.42 per share with a market cap of around $220 billion. While its shares have declined 22% so far in 2026, they remain up 8% over the past year. That volatility may worry some investors, but it could also create a buying opportunity for Foolish investors focused on the company’s long-term growth potential.
Growth continues to impress
Shopify’s latest quarterly results once again demonstrated why it remains one of Canada’s premier growth companies. Its first-quarter revenue surged 34% year-over-year (YoY), backed by healthy growth across regions, customer segments, and sales channels. Adding to the optimism, the company generated a free cash flow margin of 15%, showing that strong growth is increasingly translating into meaningful cash generation.
Its gross merchandise volume (GMV), which simply measures the total value of products sold through Shopify’s platform, exceeded US$100 billion during the quarter alone. The company’s monthly recurring revenue for the quarter also climbed nearly 16% YoY to US$212 million, reflecting continued demand for its subscription offerings.
Similarly, Shopify’s subscription solutions segment revenue grew 21%, and merchant solutions jumped 39%. Its operating income also rose to US$382 million last quarter from just US$203 million a year ago. Those solid numbers clearly highlight that Shopify is becoming both larger and more profitable.
Artificial intelligence creates another growth engine
Meanwhile, Shopify is positioning itself to benefit from the rapid adoption of AI. The company believes its decades of commerce data give it a significant competitive advantage as AI becomes increasingly integrated into online retail. AI-powered tools could help its merchants improve customer experiences, automate routine tasks, and optimize marketing.
While Shopify’s valuation and share price could continue to fluctuate, its business continues to expand its revenue, profitability, and ecosystem. If the company keeps executing as it has, investors who stay focused on the long term could see the power of compounding work in their favour, which is exactly how many millionaire portfolios are built.
