Today, Shopify, Inc. (NYSE: SHOP) (TSX: SHOP) announced its strong fourth-quarter and full-year 2019 financial results. Lifted by higher holiday sales, the reported earnings beat Wall Street estimates and caused the Company’s U.S.-listed shares to increase about 9%.
The Ottawa-based Company reported for the fourth-quarter of 2019 a total revenue of USD 505.2 million, which marks a 47% increase from the same period in 2018. Net income for the fourth-quarter 2019 was USD 0.8 million, or USD 0.01 per share, compared to a net loss of USD 1.5 million, or USD 0.01 per share, in the fourth-quarter of the year before.
Amy Shapero, Shopify’s CFO said: “Shopify’s merchants had a tremendous fourth quarter, powered by our ongoing efforts to help them sell more and manage their businesses more effectively.”
For the full-year of 2019, Shopify reported a total revenue of USD 1.578 billion, a 47% increase on a year-to-year basis. The Company declared for the full-year 2019 a net loss of USD 124.8 million, or USD 1.10 per share, in comparison with USD 64.6 million, or USD 0.61 per share in 2018.
“2019 was a milestone year for us,” said Tobi Lütke, Shopify’s CEO. “We’ve earned the trust of more than one million merchants, and we are motivated more than ever to keep lowering the learning curve so anyone, anywhere can become an entrepreneur.”
The Canadian Company expects for the full-year of 2020 revenues in the range of USD 2.130 billion to USD 2.160 billion, as well as GAAP operating loss between USD 324 million and USD 344 million. Shopify’s forecasted revenues for the first-quarter of 2020 are in the range of USD 440 million to USD 446 million.
With powering more than one million businesses in over 175 countries worldwide, Shopify is a leading commerce company, providing tools to start, grow, market and manage retail businesses of all sizes.