Finding companies with the power to stand the test of time in your portfolio isn't always easy. In fact, the longer you invest, the more likely it is you will find that a relatively small group of companies fit this profile. Every investor is different, and the types of companies you invest in, how much you invest in them, and how long you stay invested in them will largely come down to your personal financial objectives and risk tolerance.

On that note, if you're hunting for great businesses with staying power to add to your portfolio this month, here are two names to consider when you do. 

1. Airbnb 

Airbnb (ABNB 1.17%) has made a name for itself in a highly fragmented and crowded industry, amassing a presence so impressive that it boasts a roughly 26% share of the travel booking service market and roughly 20% of the entire vacation rental market.  Of the numerous competitive advantages that Airbnb retains, it's worth pointing out that the platform not only serves both sides of the travel accommodation relationship -- supply and demand -- with its growing cohorts of guests and hosts, but it also does so with an extremely asset-light model. 

Since most Airbnb hosts own the properties they list on the platform, the company rakes in revenue from the fees it charges for each transaction without accumulating the costs derived from property management or ownership. In a time when the economic landscape is uncertain, Airbnb's recent growth figures bear out two key points: First, people are continuing to spend money on a wide range of travel types; and second, people are looking to host on the platform as a means of earning additional income. 

Roughly half of all bookings on the platform are for stays of seven nights or more, and 18% of bookings are for stays of 28 days or more (long-term stays). Profits totaled $117 million in the first quarter, and free cash flow hit $1.6 billion. That free-cash-flow figure was up almost 500% on a four-year clip.  

Airbnb closed out the first quarter of 2023 with 18% more active listings than it had in the year-ago quarter. Guests booked 121.1 million nights and experiences in the three-month period alone, 19% more than one year ago and 49% more than four years ago. With a wide assortment of listings that cater to everyone from leisure travelers to business travelers to digital nomads, and its capital-light business model, Airbnb has diverse sources of revenue growth and profits to fall back on. This is a great sign for the company and shareholders who remain with it over the long term. 

2. Shopify 

Like many e-commerce and tech businesses, Shopify (SHOP -2.37%) has faced a far more challenging environment in recent quarters than in the earlier days of the pandemic. This reality has affected the level and pace of its growth. As such, Shopify implemented a range of cost-saving measures. It laid off about 20% of its global workforce in early May. It also sold its logistics business to Flexport, which included the fulfillment company Deliverr that Shopify just acquired in summer 2022. In return, it gets a 13% stake in Flexport, while the company becomes Shopify's preferred logistics partner.  

While at first glance this seems like a rapid about-face from its prior efforts to expand its footprint in the logistics space and widen fulfillment options for its network of merchants, these changes make sense when given a closer look. Shopify is one in a long list of companies that had to slash its workforce over the last year, a painful but frequent reality in the current economic landscape. 

The sale of its logistics business, while certainly a notable alteration from prior messaging from management, will enable Shopify to make a significant shift back to its original asset-light model while affording its merchants access to the same, seamless logistics processes that will draw more buyers and sellers over the long run.

These moves can also help the company work toward consistent profitability. Shopify actually turned a profit in Q1, totaling $68 million, and generated free cash flow of $86 million.  

Over the trailing 12 months, Shopify generated revenue in the amount of $6 billion. Of that total, $1.5 billion was attributable to Q1 2023, which represented a 25% increase from its revenue in Q1 2022. Customers also spent 18% more on merchandise from merchant stores built on Shopify than in the year-ago quarter.

Investors may need to continue to be patient, but this stock doesn't even look close to having exhausted its growth potential. With about 22% of all e-commerce stores globally built on Shopify, this growth story may be one that shrewd investors will want to seize upon in the current market environment and well beyond.