#Shopify Announces Fourth-Quarter and Full-Year 2020#FinancialResults Fourth-Quarter #Revenue Grows 94% on GMV Growth of 99% Year on Year Full-Year 2020 Revenue Grows 86% on GMV Growth of 96% Year on Year GMV Exceeds $41 Billion for the Fourth Quarter and Reaches $120 Billion for 2020.
Ottawa, Canada - February 17, 2021 - Shopify Inc. (NYSE:SHOP)(TSX:SHOP), a leading global commerce company, announced today strong financialresults for the fourth quarter and full year ended December 31, 2020.
“The spirit of entrepreneurship was strong in 2020, as our merchants’ resilience and ability to adapt helped many of them thrive in a difficult year,” said Harley Finkelstein, Shopify’s President.
“Shopify is at the heart of our merchants’ businesses with entrepreneurs around the world trusting us with their livelihoods. This year, we are doubling down on creating a frictionless path to successful entrepreneurship, as we continue to build a future-proof commerce solution to serve generations to come.”
“Our fourth-quarter results capped off an outstanding 2020, thanks to the success of our merchants in a year that truly tested their mettle and triggered more entrepreneurs around the world to start their journey toward economic independence,” said Amy Shapero, Shopify’s CFO.
“Shopify was prepared to ship the features that our merchants needed during the pandemic because we had invested for several years in a future that arrived early with the acceleration of online commerce. We’re amplifying our efforts in 2021, as we focus on executing on a portfolio of initiatives that will fuel further growth for our merchants and for Shopify.”
Fourth-Quarter Financial Highlights • Total revenue in the fourth quarter was $977.7 million, a 94% increase from the comparable quarter in 2019. • Subscription Solutions revenue was $279.4 million, up 53% year over year, primarily due to more merchants joining the platform. • Merchant Solutions revenue growth increased 117%, to $698.3 million, driven primarily by the growth of Gross Merchandise Volume1 ("GMV").