Shopify Boosts Revenue 93%, Not Quite Profitable Yet

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Shopify this week reported its latest quarterly earnings.

Total revenue for the third quarter of 2015 was $52.8 million, a 93% increase from the third quarter of 2014. Net loss for the third quarter of 2015 was $4.7 million, or $0.06 per share, compared with a net loss of $4.3 million, or $0.11 per share, for the third quarter of 2014.

“This quarter we introduced many exciting product enhancements, like Shopify Shipping and integrations with Amazon, Facebook and Twitter,” said Tobi Lütke, Shopify’s CEO. “While these initiatives are still in their early stages, we see strong potential for all of them to contribute to our long-term growth.”

For the fourth quarter 2015, Shopify currently expects revenues in the range of $59 million to $61 million and an adjusted operating lossin the range of $4 million to $5 million.

RELATED: Shopify is hiring in Montreal, Ottawa, Toronto, and Waterloo

“Year-on-year revenue growth was strong across both Subscription Solutions and Merchant Solutions, as we continue to attract new merchants and help facilitate their business success,” said Russ Jones, Shopify’s CFO. “We are revising our full-year outlook upward to reflect our better-than-expected results in the third quarter, as well as the increased momentum we’re carrying into the busiest season of the year for retail.”

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