OTTAWA — Shopify Inc. reported a net loss of US$682 million in its first quarter compared with a loss of US$273 million in the same quarter last year as its revenue rose 27 per cent.
The e-commerce technology firm, which keeps its books in U.S. dollars, says the loss amounted to 53 cents US per diluted share for the quarter ended March 31 compared with a loss of 21 cents US per diluted share a year earlier.
Shopify says its net income excluding the impact of its equity investments amounted to US$226 million for its latest quarter, up from US$144 million a year ago.
Revenue totalled US$2.36 billion for the quarter, up from US$1.86 billion in the same quarter last year.
Subscription solutions revenue totalled US$620 million, up from US$511 million a year ago, while merchant solutions revenue amounted to US$1.74 billion, up from US$1.35 billion.
In its outlook for its second quarter, Shopify says it expects revenue to grow at a mid-twenties percentage rate on a year-over-year basis. Operating expenses as a percentage of revenue are expected to be 39 to 40 per cent.
This report by The Canadian Press was first published May 8, 2025.
Companies in this story: (TSX:SHOP)
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