Shopify Inc. announces the appointment of Amy Shapero as Chief Financial Officer

Ottawa, Canada, 2018-Mar-07 — /EPR Retail News/ — Shopify Inc. (NYSE:SHOP)(TSX:SHOP), the leading cloud-based, multi-channel commerce platform, today (Mar 5, 2018) announced the appointment of Amy Shapero as Chief Financial Officer, effective April 2, 2018.

Shapero joins Shopify from Betterment, an online wealth-management service, where she has served as Chief Financial Officer since 2016. Previously, Shapero was Chief Financial Officer at Sailthru, a SaaS marketing technology provider, and Senior Vice President of Strategy, Corporate Development and Corporate Communications at DigitalGlobe, a big data and analytics provider. Prior to that, she held Chief Financial Officer roles at Spot Holdings, a financial services company, and Standard & Poor’s, a business unit of The McGraw-Hill Companies.

Shapero began her career as a CPA at Ernst & Young, followed by positions at Credit Suisse and Credit Suisse and Goldman Sachs. She holds a Bachelor of Science from the University of Illinois and a Master of Business Administration from the University of Chicago Booth School of Business.

“We’re excited to welcome Amy to Shopify as our new CFO,” said Shopify CEO, Tobi Lütke. “Amy brings extensive financial, operational, and strategic experience. This, combined with her deep knowledge of the technology industry and experience scaling high-growth companies, will be a huge asset to Shopify as we enter our next phase of growth and further our mission to make commerce better for everyone.”

Shapero will succeed Russ Jones, who has served as Shopify’s Chief Financial Officer since 2011. Jones will remain a strategic advisor to the company during a transition period.

“Russ was Shopify’s first CFO, and now he’s our first official retiree. He leaves behind an incredible legacy at Shopify, which includes taking us public. In the last seven years, Russ has been instrumental in growing Shopify from a 50 person company to a leading public SaaS company with over 3,000 employees. We’re very grateful to Russ for his valuable contributions and wish him all the best as he begins his well-deserved retirement,” said Lütke.

Shopify is also pleased to announce the recent addition of Jeff Weiser as Chief Marketing Officer. Prior to joining Shopify, Weiser served as Chief Marketing Officer at Shutterstock (NYSE), held multiple senior level positions with Beachbody (P90X and Shakeology), and performed strategy and analytics roles at SGN (Social Gaming Network), MySpace and Yahoo!. Weiser holds a Bachelors of Arts in English from Yale University and a Master of Business Administration from Columbia Business School.

Craig Miller, Shopify’s former Chief Marketing Officer, will now focus exclusively on his role as Chief Product Officer.

About Shopify

Shopify is the leading cloud-based, multi-channel commerce platform. Merchants can use the software to design, set up, and manage their stores across multiple sales channels, including web, mobile, social media, marketplaces, brick-and-mortar locations, and pop-up shops. The platform also provides merchants with a powerful back-office and a single view of their business. The Shopify platform was engineered for reliability and scale, making enterprise-level technology available to businesses of all sizes. Shopify currently powers over 600,000 businesses in approximately 175 countries and is trusted by brands such as Nestle, Red Bull, Rebecca Minkoff, and Kylie Cosmetics.

Forward-looking Statements

This press release contains certain forward-looking statements within the meaning of applicable securities laws, including statements regarding Shopify’s appointment of its new Chief Financial Officer. Words such as “expects”, “anticipates”, “will”, and “intends” or similar expressions are intended to identify forward-looking statements. The forward-looking statements contained in this news release represent Shopify’s expectations as of the date of this news release, or as of the date they are otherwise stated to be made, and subsequent events may cause these expectations to change. Shopify undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law.

Press Inquiries:
press@shopify.com

SOURCE: Shopify

Shopify Inc. to announce Q2 financial results on Wednesday, August 3, 2016

Ottawa, Canada, 2016-Jul-16 — /EPR Retail News/ — Shopify Inc. (NYSE:SHOP)(TSX:SH), the leading cloud-based commerce platform, plans to announce financial results for its second quarter ended June 30, 2016 before markets open on Wednesday, August 3, 2016.

Shopify’s management team will host a conference call to discuss second-quarter results at 8:30 a.m. ET on Wednesday, August 3, 2016.  The conference call is available via webcast on the investor relations section of Shopify’s website at http://investors.shopify.com/events/Events-Presentations/default.aspx.

An archived replay of the webcast will be available following the conclusion of the call.

About Shopify
Shopify is the leading cloud-based commerce  platform designed for small and medium-sized businesses. Merchants use the software to design, set up and manage their stores across multiple sales channels, including web, mobile, social media, marketplaces, brick-and-mortar locations and pop-up shops.  The platform also provides a merchant with a powerful back-office and a single view of their business.  The Shopify platform was engineered for reliability and scale, making enterprise-level technology available to businesses of all sizes. Shopify currently powers over 275,000 businesses in approximately 150 countries and is trusted by big brands including Tesla Motors, Budweiser, Red Bull, the LA Lakers, the New York Stock Exchange, GoldieBlox, and many more.

Press Inquiries:

press@shopify.com

Source: Shopify

Conversational commerce: Shopify to acquire one of the most highly rated apps in its App Store

Ottawa, Canada , 2016-Apr-16 — /EPR Retail News/ —  Shopify Inc. (NYSE:SHOP)(TSX:SH), the leading cloud-based, multi-channel commerce platform designed for small and medium-sized businesses, today announced it has agreed to acquire privately held Kit CRM Inc., a virtual marketing assistant that leverages messaging to help businesses market their online stores. The acquisition will bolster Shopify’s focus on the growing trend towards “conversational commerce,” paving the way for mobile and messaging platforms to help merchants run their businesses.

“We believe messaging apps are the gateway for the internet on mobile, and conversational commerce represents a huge opportunity for Shopify,” said Craig Miller, Chief Marketing Officer at Shopify. “Kit addresses a real pain point for merchants and is one of our most highly rated apps in the Shopify App Store. We look forward to having the Kit team join Shopify and help us define the future of conversational commerce together.”

Founded in 2013, Kit acts as a virtual marketing assistant that helps manage small businesses’ marketing tasks so that entrepreneurs can focus on other aspects of their business. Kit allows businesses to run targeted ads on Facebook and Instagram, post updates to their Facebook Page, make recommendations based on store activities, and more, all via text messages. Last month, Kit also introduced an API that allows it to interact with other apps in the Shopify App Store.

“As an entrepreneur, you dream of building a company that makes an impact. Our partnership with Shopify has helped us positively change how businesses run in more than 30 countries,” said Michael Perry, Founder and CEO of Kit. “We’ve witnessed first-hand Shopify’s commitment to business owners, and it is a privilege to be a larger part of it. This is a big step, and incredible opportunity for Kit to be joining Shopify. We couldn’t be more thrilled about making our impact felt amongst business owners everywhere.”

The acquisition of Kit, along with Shopify’s integration with the new Facebook Messenger Platform announced yesterday, further supports our focus on helping entrepreneurs embrace conversational commerce.

About Shopify

Shopify is the leading cloud-based, multi-channel commerce platform designed for small and medium-sized businesses. Merchants use the software to design, set up and manage their stores across multiple sales channels, including web, mobile, social media, marketplaces, brick-and-mortar locations and pop-up shops.The platform also provides a merchant with a powerful back-office and a single view of their business. The Shopify platform was engineered for reliability and scale, making enterprise-level technology available to businesses of all sizes. Shopify currently powers over 243,000 businesses in approximately 150 countries and is trusted by big brands including Tesla Motors, Budweiser, Red Bull, the LA Lakers, the New York Stock Exchange, GoldieBlox, and many more.

Forward-looking Statements

This press release contains certain forward-looking statements within the meaning of applicable securities laws, including statements regarding the potential acquisition by Shopify of Kit. Words such as “expects”, “anticipates” and “intends” or similar expressions are intended to identify forward-looking statements.

These forward-looking statements are based on Shopify’s current expectations about future events, and on certain assumptions and analysis made by Shopify in light of current conditions and expected future developments and other factors management believes are appropriate. These expectations are subject to known and unknown risks, uncertainties, assumptions and other factors that could cause actual events to differ materially from those anticipated in these forward-looking statements. Although Shopify believes that the assumptions underlying these forward-looking statements are reasonable, they may prove to be incorrect, and readers cannot be assured that actual events will be consistent with these forward-looking statements. Actual events could differ materially from those projected in the forward-looking statements as a result of numerous factors, many of which are beyond Shopify’s control. The forward-looking statements contained in this news release represent Shopify’s expectations as of the date of this news release, or as of the date they are otherwise stated to be made, and subsequent events may cause these expectations to change. Shopify undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law.

PRESS CONTACT

press@shopify.com

416-238-6705 x 302

Source: shopify

Shopify Inc. recorded strong financial results for full year and quarter ended December 31, 2015

  • Fourth-Quarter Revenue Grows 99% Year on Year
  • Fourth-Quarter Gross Merchandise Volume (GMV) Grows 109% Year on Year
  • Number of Merchants Surpasses 243,000
  • Shopify reports in U.S. dollars and in accordance with U.S. GAAP

Ottawa, Canada, 2016-Feb-18 — /EPR Retail News/ — Shopify Inc. (NYSE:SHOP)(TSX:SH), the leading cloud-based, multi-channel commerce platform designed for small and medium-sized businesses, today announced strong financial results for the full year and quarter ended December 31, 2015. Continued adoption of the Shopify platform by merchants and a strong holiday shopping season drove a second consecutive quarter of accelerated growth in revenue, GMV and merchants.

“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.”

“Our strong fourth-quarter performance highlights the strength of our business model, one where we win when our merchants win,” said Russ Jones, Shopify’s CFO. “Many of our efforts in 2015 — such as adding multiple new sales channels to a single integrated back office — were driven by our simple goal of helping merchants become more successful. We added a record number of new merchants in the fourth quarter and are proud that over half of the more than 1,000 merchants now using Shopify Plus are upgrades from merchants who have grown their businesses on Shopify. We’re entering 2016 with excellent momentum and expect to close this year even better positioned than we are today.”

Fourth-Quarter Financial Highlights

  • Total revenue for the fourth quarter of 2015 was $70.2 million, a 99% increase from the fourth quarter of 2014. Within this, Subscription Solutions revenue grew 70% to $34.6 million, driven by an increase in the number of merchants using our platform; and Merchant Solutions revenue grew 140% to $35.6 million, driven primarily by an increase in revenue from Shopify Payments.
  • Monthly Recurring Revenue1 (“MRR”) as of December 31, 2015 was $11.3 million, up 72% compared with $6.6 million on December 31, 2014.
  • Gross Merchandise Volume2 (“GMV”) for the fourth quarter was $2.8 billion, a 109% increase over the fourth quarter of 2014.
  • Gross profit grew 81% to $35.5 million for the fourth quarter of 2015, versus $19.6 million for the fourth quarter of 2014.
  • Operating loss for the fourth quarter of 2015 was $6.5 million, compared with an operating loss of $4.5 million for the fourth quarter of 2014.
  • Adjusted operating loss3 for the fourth quarter of 2015 was $1.3 million, compared with $0.8 million for the fourth quarter of 2014.
  • Net loss for the fourth quarter of 2015 was $6.3 million, or $0.08 per share, compared with a net loss of $4.8 million, or $0.12 per share, for the fourth quarter of 2014.
  • Adjusted net loss3 for the fourth quarter of 2015 was $1.1 million, or $0.01 per share, compared with an adjusted net loss of $1.1 million, or $0.03 per share, for the fourth quarter of 2014.
  • At December 31, 2015, Shopify had $190.2 million in cash, cash equivalents and marketable securities, compared with $59.7 million on December 31, 2014.

Full-Year 2015 Financial Highlights

  • Total revenue for 2015 was $205.2 million, a 95% increase from 2014. Within this, Subscription Solutions revenue grew 68% to $112.0 million; and Merchant Solutions revenue grew 143% to $93.3 million.
  • Monthly Billings Retention Rate4 continued to exceed 100% for 2015.
  • Gross Merchandise Volume2 (“GMV”) for 2015 was $7.7 billion, a 105% increase over 2014.
  • Gross profit grew 80% to $111.1 million for 2015, versus $61.8 million for 2014.
  • Operating loss for 2015 was $17.8 million, compared with an operating loss of $21.6 million for 2014.
  • Adjusted operating loss3 for 2015 was $6.7 million, compared with $15.0 million for 2014.
  • Net loss for 2015 was $18.8 million, or $0.30 per share, compared with a net loss of $22.3 million, or $0.57 per share, for 2014.
  • Adjusted net loss3 for 2015 was $7.7 million, or $0.13 per share, compared with an adjusted net loss of $15.7 million, or $0.40 per share, for 2014.

Fourth-Quarter and Full-Year Business Highlights

  • During the fourth quarter 2015, our strongest seasonal quarter for merchant sales, the Shopify team executed flawlessly over the Black Friday Cyber Monday weekend. GMV and order volume more than doubled compared with 2014’s comparable weekend on Shopify’s scalable multi-tenant platform.
  • Shopify was among the first ecommerce providers to add the ability to sell over the leading social media platforms, including Facebook, Pinterest and Twitter, and now over 25% of Shopify merchants have enabled social media selling. While these channels currently account for a small portion of transactions, sales on social media channels are growing rapidly.  Approximately 61% of the traffic and 46% of orders on the Shopify platform came from mobile devices in December 2015.
  • Shopify expanded the number of channels over which merchants can sell by adding a mobile buy button software development kit, enabling transactions on any site a merchant controls, and by integrating social media options into its administrative interface.
  • Shopify enhanced our integrated back office capabilities: we expanded the number of reports available to merchants; we added shipping and delivery options, starting with the US Post Office and UberRush; and we enhanced merchants’ in-person selling capabilities with the addition of EMV readers that accept chip-and-pin and ApplePay.

Financial Outlook

The financial outlook that follows constitutes forward-looking information within the meaning of applicable securities laws and is based on a number of assumptions and subject to a number of risks. Actual results could vary materially as a result of numerous factors, including certain risk factors, many of which are beyond Shopify’s control. Please see section below, “Forward-looking Statements”.

In addition to the other assumptions and factors described in this press release, Shopify’s outlook assumes the continuation of growth trends in our industry, our ability to manage our growth effectively and the absence of material changes in our industry or the global economy. All numbers provided in this section are approximate.

For the full year 2016, Shopify currently expects:

  • Revenues in the range of $320 million to $330 million
  • GAAP operating loss in the range of $36 million to $42 million
  • Adjusted operating loss3 in the range of $16 million to $22 million, which excludes stock-based compensation expenses and related payroll taxes of $20 million

For the first quarter of 2016, Shopify currently expects:

  • Revenues in the range of $65 million to $67 million
  • GAAP operating loss in the range of $11 million to $12 million
  • Adjusted operating loss3 in the range of $6.5 million to $7.5 million, which excludes stock-based compensation expenses and related payroll taxes of $4.5 million

Quarterly Conference Call

Shopify’s management team will hold a conference call to discuss its fourth-quarter and full-year results today, February 17, 2016, at 8:30 a.m. ET. The conference call will be webcast on the investor relations section of Shopify’s website at https://investors.shopify.com/events/Events-Presentations/default.aspx. An archived replay of the webcast will be available following the conclusion of the call.

Shopify’s 2015 Annual Report on Form 20-F, including its audited Consolidated Financial Statements and Notes and its 2015 Management’s Discussion and Analysis are available on Shopify’s website at Shopify.com, and will be filed on SEDAR at www.Sedar.com and on EDGAR atwww.sec.gov. Shareholders may, upon request, receive a hard copy of the complete audited financial statements free of charge.

About Shopify
Shopify is the leading cloud-based, multi-channel commerce platform designed for small and medium-sized businesses. Merchants use the software to design, set up and manage their stores across multiple sales channels, including web, mobile, social media, marketplaces, brick-and-mortar locations and pop-up shops.The platform also provides a merchant with a powerful back-office and a single view of their business. The Shopify platform was engineered for reliability and scale, making enterprise-level technology available to businesses of all sizes. Shopify currently powers over 243,000 businesses in approximately 150 countries and is trusted by big brands including Tesla Motors, Budweiser, Red Bull, the LA Lakers, the New York Stock Exchange, GoldieBlox, and many more.

Non-GAAP Financial Measures
To supplement its consolidated financial statements, which are prepared and presented in accordance with United States generally accepted accounting principles (GAAP), Shopify uses certain non-GAAP financial measures to provide additional information in order to assist investors in understanding its financial and operating performance.

Adjusted operating loss, adjusted net loss and adjusted net loss per share are non-GAAP financial measures that exclude the effect of stock-based compensation expenses and related payroll taxes as well as sales and use tax.

Management uses non-GAAP financial measures internally for financial and operational decision-making and as a means to evaluate period-to-period comparisons. Shopify believes that these non-GAAP measures provide useful information about operating results, enhance the overall understanding of past financial performance and future prospects, and allow for greater transparency with respect to key metrics used by management in its financial and operational decision making.Non-GAAP financial measures are not recognized measures for financial statement presentation under US GAAP and do not have standardized meanings, and may not be comparable to similar measures presented by other public companies. Such non-GAAP financial measures should be considered as a supplement to, and not as a substitute for, or superior to, the corresponding measures calculated in accordance with GAAP. See the financial tables below for a reconciliation of the non-GAAP measures.

Forward-looking Statements
This press release contains certain forward-looking statements within the meaning of applicable securities laws, including statements regarding Shopify’s financial outlook and future financial performance. Words such as “expects”, “anticipates” and “intends” or similar expressions are intended to identify forward-looking statements.

These forward-looking statements are based on Shopify’s current projections and expectations about future events and financial trends that management believes might affect its financial condition, results of operations, business strategy and financial needs, and on certain assumptions and analysis made by Shopify in light of the experience and perception of historical trends, current conditions and expected future developments and other factors management believes are appropriate. These projections, expectations, assumptions and analyses are subject to known and unknown risks, uncertainties, assumptions and other factors that could cause actual results, performance, events and achievements to differ materially from those anticipated in these forward-looking statements. Although Shopify believes that the assumptions underlying these forward-looking statements are reasonable, they may prove to be incorrect, and readers cannot be assured that actual results will be consistent with these forward-looking statements. Actual results could differ materially from those projected in the forward-looking statements as a result of numerous factors, including certain risk factors, many of which are beyond Shopify’s control, including but not limited to: (i) merchant acquisition and retention; (ii) managing our growth; (iii) our history of losses; (iv) our limited operating history; (v) our ability to innovate; (vi) a disruption of service or security breach; (vii) payments processed through Shopify Payments; (viii) our reliance on a single supplier to provide the technology we offer through Shopify Payments; (ix) a breach involving personally identifiable information; (x) serious software errors or defects; (xi) exchange rate fluctuations; (xii) achieving or maintaining data transmission capacity; and (xiii) other one-time events and other important factors disclosed previously and from time to time in Shopify’s filings with the U.S. Securities and Exchange Commission and the securities commissions or similar securities regulatory authorities in each of the provinces or territories of Canada. The forward-looking statements contained in this news release represent Shopify’s expectations as of the date of this news release, or as of the date they are otherwise stated to be made, and subsequent events may cause these expectations to change. Shopify undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law.

  1. Monthly Recurring Revenue, or MRR, is calculated by multiplying the number of merchants by the average monthly subscription plan fee in effect on the last day of that period and is used by management as a directional indicator of subscription solutions revenue going forward assuming merchants maintain their subscription plan the following month.
  2. Gross Merchandise Volume, or GMV, represents the total dollar value of orders processed on the Shopify platform in the period, net of refunds, and inclusive of shipping and handling, duty and value-added taxes
  3. Please refer to “Non-GAAP Financial Measures” in this press release.
  4. Monthly Billings Retention Rate, or MBRR, is calculated as of the end of each month by considering the cohort of merchants on the Shopify platform as of the beginning of the month and dividing total billings attributable to this cohort in the then-current month by total billings attributable to this cohort in the immediately preceding month. Billings includes billings from subscriptions, apps (net of referral fees), transaction fees and fees for Shopify Payments.

To view our detailed results with financial tables download this PDF or visit our investors site.

CONTACT:

INVESTORS:

Katie Keita
Director, Investor Relations
613-241-2828
IR@shopify.com

MEDIA:

Sheryl So
Public Relations Manager
416-238-6705 x 302
press@shopify.com

SOURCE: Shopify

Shopify Inc. to announce financial results for its fourth-quarter ended December 31, 2015 on February 17, 2016

Ottawa, Canada, 2016-Feb-04 — /EPR Retail News/ — Shopify Inc. (NYSE:SHOP)(TSX:SH), a leading cloud-based commerce platform, plans to announce financial results for its fourth-quarter ended December 31, 2015 before markets open on Wednesday, February 17, 2016.

Shopify’s management team will host a conference call to discuss its fourth-quarter results at 8:30 a.m. ET on Wednesday, February 17, 2016. The conference call is available via webcast on the investor relations section of Shopify’s website at http://investors.shopify.com/events/Events-Presentations/default.aspx.

An archived replay of the webcast will be available following the conclusion of the call.

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