GMV for the third quarter was $30.9 billion, an increase of $16.1 billion, or 109% over the third quarter of 2019. Please refer to "Non-GAAP Financial Measures" in this press release for more information. Non-GAAP financial measures exclude the effect of stock-based compensation expenses and related payroll taxes, amortization of acquired intangibles and related taxes, an unrealized gain on an equity investment and related taxes, and amortization of the debt discount related to convertible senior notes and related taxes.

The company has become a giant in the e-commerce space, claiming nearly 20% of the global market share. Merchants in the U.S., Canada and the U.K. received $252.1 million in merchant cash advances and loans from Shopify Capital in the quarter, an increase of 79% from the amount received by U.S. merchants in the same quarter last year. These forward-looking statements are based on Shopify’s current projections and expectations about future events and financial trends that management believes might affect its financial condition, results of operations, business strategy and financial needs, and on certain assumptions and analysis made by Shopify in light of the experience and perception of historical trends, current conditions and expected future developments and other factors management believes are appropriate. Updates share price move, adds bullet point about Lutke’s comments on acquisitions. The company continued to gain traction in new services it offers to customers. Ottawa, Canada - October 29, 2020 - Shopify Inc. (NYSE:SHOP)(TSX:SHOP), a leading global commerce company, announced today strong financial results for the third quarter ended September 30, 2020.

“Entrepreneurs will be the force in rebuilding economies all over the world, which makes it even more important for Shopify to innovate and build the critical tools that merchants need to succeed in a low-touch retail environment.”, “Shopify’s tremendous third-quarter results reflect the resilience and entrepreneurial spirit of our merchants,” said Amy Shapero, Shopify’s CFO.

Such non-GAAP financial measures should be considered as a supplement to, and not as a substitute for, or superior to, the corresponding measures calculated in accordance with GAAP. Shopify’s Third-Quarter 2020 Interim Unaudited Condensed Consolidated Financial Statements and Notes and its Third Quarter 2020 Management's Discussion and Analysis are available on Shopify’s website at www.shopify.com and will be filed on SEDAR at www.sedar.com and on EDGAR at www.sec.gov. To supplement our consolidated financial statements, which are prepared and presented in accordance with United States generally accepted accounting principles ("GAAP"), Shopify uses certain non-GAAP financial measures to provide additional information in order to assist investors in understanding our financial and operating performance. We continue to evolve our global commerce operating system to make it easier for merchants to get online and start selling, get discovered, and get their goods to buyers, while providing a delightful shopping experience.”. Adjusted net income and adjusted net income per share also exclude an unrealized gain on an equity investment, amortization of the debt discount related to Shopify’s convertible senior notes, and tax effects related to non-GAAP adjustments. ET. Its lending business is growing as well.

They help us get to know you a little and how you use our website. Adjusted operating income4 for the third quarter of 2020 was $130.9 million, or 17% of revenue, compared with adjusted operating income of $10.5 million or 3% of revenue in the third quarter of 2019. The conference call will be webcast on the investor relations section of Shopify’s website at https://investors.shopify.com/news-and-events/default.aspx#upcoming-events.

Founded in 2004, the Ottawa-based firm’s core business is helping retailers get online quickly and cheaply. Adjusted net income in the third quarter of 2020 excludes an unrealized gain on an equity investment of $133.2 million or $1.07 per share, stock-based compensation and related payroll taxes of $75.4 million or $0.60 per share, and other adjustments totaling $7.5 million or $0.06 per share. Apple Loses $450 Billion in Value Since Record on iPhone Woes, Tech Rout Sends Stocks to Worst Week Since March: Markets Wrap, U.K. Mulls Second England Lockdown as Cases Surge: Virus Update, Speculator Comeuppance Is Fast and Harsh in Tech’s Waterloo Week, Record 200 Days With No Local Case Makes Taiwan World’s Envy. Net income for the third quarter of 2020 was $191.1 million, or $1.54 per diluted share, compared with a net loss of $72.8 million, or $0.64 per basic and diluted share, for the third quarter of 2019. Have a confidential tip for our reporters? This has made us potentially more careful but I also think just more realistic.”. For more information, visit www.shopify.com. While Shopify expects both sellers and buyers to continue adopting multi-channel commerce for safety as the COVID-19 pandemic continues, and to continue using multi-channel commerce for selection and convenience, near-term demand for our subscription and merchant solutions depends on several external factors that are particularly fluid at present. Merchants in the U.S., Canada, and the U.K. received $252.1 million in merchant cash advances and loans from Shopify Capital in the third quarter of 2020, an increase of 79% versus the $141.0 million received by U.S. merchants in the third quarter of last year. You can revoke cookies at anytime at the bottom of the page. Subscription Solutions revenue was $245.3 million, up 48% year over year, primarily due to more merchants joining the platform. “The opportunity cost of integrating is enormous,” he said. Shopify’s management team will hold a conference call to discuss our third-quarter results today, October 29, 2020, at 8:30 a.m. Shopify stock grew nearly 300% within 4 months in 2020 Speaking of shares, they started trading at $28 when the company went public in 2015.

Before it's here, it's on the Bloomberg Terminal. Before it's here, it's on the Bloomberg Terminal. “There’s a lot of reductionist thinking, especially about M&A,” Chief Executive Officer Tobi Lutke told analysts Friday during the third quarter conference call. The company is positioned to beat pre-earnings estimates for the fourth quarter, he said, although “that lack of Q4 guidance may limit near-term upside in shares.”, — With assistance by Michael Bellusci, and Divya Balji.

An archived replay of the webcast will be available following the conclusion of the call. Management uses non-GAAP financial measures internally for financial and operational decision-making and as a means to evaluate period-to-period comparisons. Adjusted gross profit4 grew 88% to $412.6 million in the third quarter of 2020, compared with $219.4 million for the third quarter of 2019.

It is one of the most popular ecommerce platforms on the planet, with almost 20 percent market share.

Revenue at Canada’s largest company by stock market value nearly doubled to $767.4 million while adjusted earnings were $1.13 per share, more than twice analysts’ estimates of 52 cents. While Shopify is not providing a financial outlook for Q4 2020 or for full year 2020, as a leading global commerce operating system that can help merchants of all sizes adapt their businesses to this new reality, Shopify expects to continue to attract more independent voices to commerce, and will continue investing to innovate on their behalf.

The shares were up 0.4% to C$1,369.86 as of 11:21 a.m. in Toronto. This has made us potentially more careful but I also think just more realistic.”, Lutke didn’t rule out strategic deals and said the company is constantly rethinking its strategy, but added: “I’m not a huge fan of M&A for acquiring revenue.”. Shopify intends to provide up to $130 million of resources to support Operation HOPE’s efforts to reduce systemic barriers to entry to entrepreneurship historically faced by the Black community. 1.

It’s second only to WooCommerce and outpaces competitors like BigCommerce, Wix, Magento, and Weebly. See the financial tables below for a reconciliation of the non-GAAP measures.

Non-GAAP financial measures are not recognized measures for financial statement presentation under U.S. GAAP and do not have standardized meanings, and may not be comparable to similar measures presented by other public companies. Shopify Market Share Report, Oct 2020 Number of websites that use Shopify How many websites uses Shopify? This press release contains certain forward-looking statements within the meaning of applicable securities laws, including statements regarding Shopify’s planned business initiatives and operations and financial outlook, the performance of Shopify's merchants, the impact of Shopify's business on its merchants and other entrepreneurs, and economic activity and consumer spending. Monthly Recurring Revenue, or MRR, is calculated by multiplying the number of merchants by the average monthly subscription plan fee in effect on the last day of that period and is used by management as a  directional indicator of subscription solutions revenue going forward assuming merchants maintain their subscription plan the following month. In August 2020, shares are trading at a massive $1,030 after hitting the low of $346 during the Coronavirus crisis. Shopify competitors come in a variety of different styles, from free services specifically created to support small businesses, to large ecommerce systems with shopping cart technology and payment gateways built-in. Shopify’s partner ecosystem continued to expand, as approximately 37,400 partners referred a merchant to Shopify over the past 12 months, compared with 23,000 over the 12 months ended September 30, 2019. The founder of Shopify Inc. says the company is focused on expanding market share as more companies move their businesses online, but will take a … 2. Shopify’s stock has soared as more companies adopt its online selling software and other services. 3.Gross Payments Volume, or GPV, is the amount of GMV processed through Shopify Payments. Operating income for the third quarter of 2020 was $50.6 million, or 7% of revenue, versus a loss of $35.7 million, or 9% of revenue, for the comparable period a year ago.

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