Shopify Reports Q1 2021 Revenue Of US$988.6 Million

Shopify Inc. (TSX: SHOP) reported today its financial results for Q1 2021, indicating they generated US$988.6 million in revenue. Revenues increased sharply from last year’s revenue of US$470.0 million for the same period.

Revenue for the quarter consisted of $320.7 million in subscription solutions revenue, as well as $668.0 in merchant solutions revenue, resulting in total revenues of $988.6 million for the quarter.

The company’s net income for Q1 2021 came in at US$1.258 billion, a notable jump from last year’s net loss of $31.4 million. Excluding the US$1.251 billion unrealized gain on its equity investment in Affirm as a result of its IPO in January 2021, Shopify’s adjusted net income for Q1 2021 amounts to US$254.1 million, a significant climb from the previous year’s adjusted net income of US$22.3 million. The posted adjusted net income for the quarter translates to US$2.01 per diluted share. 

Looking at the balance sheet, the company ended Q1 2021 with approximately US$2.8 billion in cash and cash equivalents and US$5.1 billion in marketable securities, which compares to $6.39 billion in cash, cash equivalents and marketable securities at the end of December 2020.

The company anticipates stock-based compensation expenses and related payroll taxes of $425 million and amortization of acquired intangibles of $21 million for the rest of 2021. In terms of growth, the firm expects continued growth, albeit at a slower pace than was experienced in 2020. The company did not provide hard figures in terms of guidance for the year, however adjusted operating income for the year is expected to be lower than 2020’s figure.

Shopify also reported that as of the end of Q1 2021 it now has more than 107 million registered users on its ecommerce platform. 

You may see the full details of Shopify’s Q1 2021 financial results here.

Shopify Inc. last traded at $1,430.45 on the TSX.


Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Goliath Resources Hits 10.60 g/t Gold Over 22.82 Metres, Highest Grade Results In Third Distinct Rock Package At Surebet Discovery

Four Countries Control the Fertilizer That Feeds the World | Sage Potash

$10,000 Gold Is Just A Question of Time | Florian Grummes

Recommended

Antimony Resources Drills 5.27% Sb Over 4.95 Metres In Latest Results

Nord Precious Metals Identifies 29 Veins At Castle East Following 3D Modeling

Related News

Shopify CEO Tobi Lütke Wants Financial Analysts To Be Held Accountable

Tobias Lütke, founder and CEO of Shopify, Inc. (TSX: SHOP), took to Twitter to ponder...

Tuesday, May 10, 2022, 04:28:00 PM

Shopify Employee Breaks NDA To Reveal Firm Quietly Replacing Laid Off Workers With AI

In a Twitter thread, a Shopify (TSX: SHOP) employee has broken their non-disclosure agreement (NDA)...

Thursday, July 20, 2023, 10:30:28 AM

Shopify Shares Jump On Q2 2025 Revenue, Net Income Leaps

Shopify (TSX: SHOP) reported Q2 2025 revenue of $2.68 billion, a 31% leap from $2.05...

Thursday, August 7, 2025, 12:56:00 PM

Shopify Grows Revenues 57% Year Over Year In 2021

Shopify Inc (TSX: SHOP) this morning announced its fourth quarter and full year financial results...

Wednesday, February 16, 2022, 09:16:54 AM

Shopify Q3 Earnings: Crushing Every Metric

Shopify (TSX: SHOP) delivered an electrifying Q3 earnings report, sending its stock soaring by as...

Sunday, November 17, 2024, 12:14:00 PM