Business
Shopify Announces Fourth-Quarter and Full-Year 2021 Financial Results
Fourth-quarter 2021 Merchant Solutions Revenue exceeds $1 billion for the first time Shopify reports in U.S. dollars and in accordance with U.S. GAAP
About this update from Shopify Inc.
[{"type":"text","content":"Fourth-quarter 2021 Merchant Solutions Revenue exceeds $1 billion for the first time\nShopify reports in U.S. dollars and in accordance with U.S. GAAP\nInternet, Everywhere--(Newsfile Corp. - February 16, 2022) - Shopify Inc. (NYSE, TSX: SHOP), a provider of essential internet infrastructure for commerce, announced today strong financial results for the quarter ended December 31, 2021.\n\"The last two years have been extraordinary,\" said Harley Finkelstein, Shopify President. \"We nearly tripled revenue, more than doubled GMV and the Shopify team, and the number of merchants using Shopify is nearly twice as big as 2019 levels. We are emerging from the sprint of these last two years even stronger and more ambitious, since the accelerated leap into digital commerce means we can go farther faster for merchants and buyers alike. As the commerce engine for independent brands who want to build a direct connection with their customers and to sell everywhere, whether it's on mobile, on Main Street, or to buyers in cities you've never heard of, we head into 2022 energized by what we can build with the unique combination of merchants, ecosystem and top talent we have today.\"\n\"Our merchants had an incredible holiday selling season, which powered Shopify's strong fourth-quarter results, with their collective sales growing significantly faster than the overall ecommerce industry over the Black Friday Cyber Monday weekend,\" said Amy Shapero, Shopify's CFO. \"Our focus on building for the long term means that merchants have access to the most modern commerce technology, which gives them superpowers to compete globally while focusing on what matters most to them - their products and their customers. In 2022, we remain steadfast on making commerce easier for entrepreneurs by continuing to build high-performing infrastructure and innovative features, which combined yield a powerful and trusted commerce solution that future-proofs our merchants in the years to come and benefits Shopify over time.\"\nFourth-Quarter Financial Highlights\n\nTotal revenue in the fourth quarter was $1,380.0 million, a 41% increase from the comparable quarter in 2020.\nSubscription Solutions revenue was $351.2 million, up 26% year over year, primarily due to more merchants joining the platform.\nMerchant Solutions revenue was $1,028.8 million, up 47% year over year...