Facts to keep in mind

From that article just cited:

We can also look at some snippets from the last earnings call – and none of these facts are being questioned by Left:

Revenue rose 75% to $151.7 million versus estimates of $144.3 million. This was the ninth time in nine quarters since its May 2015 initial public offering that Shopify had beaten analyst forecasts.

Revenue forecasts were raised for the full to $642 million - $648 million, up from $615 million - $630 million.

GAAP operating loss forecasts were reduced to a $62 million - $68 million loss from a prior range of $69 million - $73 million.

Subscription Solutions revenue growth accelerated from last quarter to 64%, coming in at $71.6 million. This strength was driven by the monthly recurring revenue growth of 64% to $23.7 million, as we had another record number of merchants join Shopify in Q2.

Merchant Solutions revenue grew 86% to $80.1 million.

Gross merchandise volume (GMV) rose 74% to $5.8 billion.

The value of GMV processed through Shopify Payments rose 69% to $2.1 billion.

It recently announced that it will be adding eBay (NASDAQ:EBAY) as a channel, making it the second large e-commerce marketplace, natively available to Shopify merchants.

More than a quarter of Shopify merchants that are shipping from the U.S. and nearly 20% of those shipping from Canada use Shopify Shipping in Q2.

Scale makes a difference here. The number of submissions to the App Store in Q2 doubled over last year.

Gross profit dollars once again grew faster than revenue in the quarter.

The company continues to expect to achieve operating profitability on an adjusted basis in the fourth quarter of this year.

The company now has 500,000 merchants using its platform up from 300,000 in the year-ago quarter.

With more than 0.5 million merchants and more than 1 million staff accounts now in the Shopify platform, it is clear the company is extending its lead as the go-to platform for sellers.