© 2022 Journal of the Canadian Council for Small Business and Entrepreneurship/Conseil Canadien de la PME et de l’entrepreneuriat.Women-owned businesses are still underrepresented in terms of export activity. This study compares the financial returns that small- and medium-sized enterprises (SMEs) generate with women- versus men-owned export businesses. We examine competing hypotheses about how gender moderates the relationship between export intensity and SMEs' financial performance based on differing perspectives of women entrepreneurs. Based on these theoretical elaborations, we analyzed the export activity and profitability of 7,761 Canadian SMEs with women versus men owners. We found that women-owned export businesses achieve superior financial performance when they adopt an intensive export strategy. We discuss the implications of this finding for international entrepreneurship theory, practice and policy.