Shopify Doubles Revenue in Q4 2015
Ecommerce platform Shopify has published financial results for the last quarter of 2015, as well as for the full year.
Shopify's Q4 sales grew 99% compared to the previous year, to $70.2 million, while Gross Merchandise Volume (GMV) grew 109% to $2.8 billion. Shopify has over 243,000 merchants using its platform.
"We are coming off not only a tremendous quarter for Shopify, but also for the hundreds of thousands of merchants that trust the Shopify platform to power their businesses," said Tobi Lütke, founder and CEO of Shopify. "Over the holiday season our merchants collectively sold almost 3 billion dollars worth of products, a huge increase from the year before. We are also seeing our merchants use Shopify to sell on multiple new sales channels like mobile and social. We believe that multichannel, cloud commerce is an industry-wide shift that is still in its infancy."
Total revenue for the full year 2015 was $205.2 million, a 95% increase from 2014. GMV for the year was $7.7 billion, a 105% increase over 2014.
Shopify made a gross profit of $111.1 million in 2015, but a net loss of $18.8 million.