Leading Canadian ecommerce platform Shopify revealed strong performance in its latest quarterly earnings review, with revenues up 71% for the three months ended 31 December compared to 2016.
The firm’s Revenue totalled $222.8mn, up from the $130.4mn recorded for the quarter one year earlier.
This growth resulted in the firm only making a $3mn loss, equating to approximately $0.03 per share, compared to a $8.9mn loss during the same period last year.
“That our merchants sold more in the fourth quarter than in all of 2015, achieving one billion dollars of this in just four days, speaks to how far we have come in the past few years,” said Russ Jones, Shopify’s Chief Financial Officer.
“Our leadership role in commerce, together with the scale we have achieved, position us well to invest in our next phase of growth: one marked by expansion of our capabilities upmarket and down, in retail, in our ecosystem, and internationally.”
Shopify is continuing to expand, most recently having signed a deal with the Ontario government that will see cannabis being distributed on Shopify’s ecommerce platform and within its stores, setting the firm up to become the province’s sole distributor of recreational cannabis.