Shopify hits key merchant milestone, but 2019 losses expected to exceed $150 million
Shopify announced third quarter financial results Oct. 29, 2019 — which highlights including hitting a key subscriber milestone.
- The big takeaway is that Shopify now powers over 1 million merchants.
- Q3 revenue came in at $390.6 million, which was up 45% over the same quarter of 2018.
- That said, Shopify is still operating at a significant loss.
- Operating losses for Q3 hit $35.7 million, while net loss was $72.8 million.
- Compare that net loss to Q3 of 2018 — when it was $23.2 million. Part of that loss was a $48.3 million one time tax provision.
Shopify also announced its financial outlooks for the fourth quarter as well as all of 2019:
- Q4 revenue is expected to be $472 to $482 million.
- 2019 revenue is projected to be $1.545 to $1.555 billion.
- Operating losses between $158 to $168 million.