Shopify has his . published results for the third quarter of 2022. They show that the company has a 22% growth in total revenue compared with the previous year, reaching the figure of $ 1,400 million. In the past three years, compound growth was 52%.
Shopify GMV up 11%
The gross volume of goods (Gross Merchandise Volume or GMV), also has a 11% increase, to reach $46,200 million, an increase of $4.4 billion from the same quarter of 2021.
The GMV represents the total value of orders placed through the Shopify platform, including certain apps and channels that have a revenue sharing agreement for the period, excluding refunds, and including shipping and taxes. For his part, the Gross Payment Volume (GPV) processed through Shopify Payments, the e-commerce payment gateway included in the Shopify CMS reached $25,000 milliona figure that represents 54% of GMV processed in the quarter, five points more than last year.
“Shopify is the central nervous system that powers millions of businesses around the world. During the third quarter, merchants continued to recognize Shopify’s exceptional value and made greater use of our essential tools and innovative solutions. Merchant Solutions yield ratio as a percentage of GMV rose to 2.14%the highest level in Shopify history»said Harley Finkelstein, president of Shopify. “We are preparing our traders for what is to come. The simplicity of our technology and the extraordinary consumer experience it provides are part of our merchants’ superpowers as they prepare for the busiest shopping season of the year.”
For a bit, Amy Shapero, Shopify CFO stated: “In the third quarter, we offered another solid quarter of GMV growth, revenue and gross profit in dollars in a high inflation environment. From an operational perspective, we recalibrated our organizational structure, successfully rolled out a new compensation framework and started integrating Delivery person on Shopify«. “Looking ahead, the flexibility of our platform, breadth of solutions, pace of innovation and disciplined approach to investment puts Shopify in a good position to take advantage of the huge opportunity ahead.”
As reported by the Canadian company, Monthly Recurring Income (Monthly recurring revenue «MRR»), had a 8% increase to 107 million dollars (just over 108 million euros), compared to the previous year. The company calculates this size by multiplying the number of merchants by the average monthly subscription cost and is used by management as a guiding indicator of future subscription solutions revenue.
The Shopify Plus solution, which provides additional support services to merchants and whose prices start at $2,000 per month, contributed $35.1 million (nearly €35.5 million), or 33%, of the MRR, compared to 28% last year.
These results come just a few months after Shopify’s announcement of the greatest evolution in its history, which are a number of product improvements and collaboration with Google and Twitter, and that aims to help expand local e-commerce, both in social networks and physical channels, so that users can search, find and buy what they need in a more comfortable and efficient way. In the case of the search engine, by syncing the local inventory in Google, available to Shopify stores in Spain and around the world with retail operations, Shopify merchants can automatically notify nearby customers when a product is available in your store , so they come with the certainty to find it
This battery of novelties also includes the alliance with Twitter, which gives products more exposure through the new Twitter Shopping tool. This tool has the showcase “Shop Spotlight”, which shows up to five products on a merchant’s profile, and “Twitter Shops”, a new shopping tab where merchants can display up to 50 products from their catalog on your Twitter account.
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