Shopify Grows Subscription Revenue 67 Percent in Q4
Total revenue grew 71 percent to $222.8 million
Shopify (NYSE: SHOP) had a good Valentine’s Day, reporting its fourth quarter financials on February 15. The cloud-based e-commerce platform reported strong financials, including total revenue of $222.8 million, a 71 percent increase year-over-year. Of that total, Subscription Solutions revenue was $93.9 million, representing a 67 percent increase. The Ontario-based company credits rapid growth in monthly recurring revenue (MRR) for the big numbers. Merchant Solutions revenue was $128.9 million, a 74 percent increase, driven primarily by growth in the company’s Gross Merchandise Volume (GMV).
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