…“We are pleased to report our fourth consecutive quarter of year-on-year revenue growth of greater than 90%,” stated Russ Jones, Shopify’s CFO. “We continued to excel on both layers of our business model in Q2. The strong growth in new merchant adds and even stronger growth of their sales indicate that the Shopify platform is meeting the growing demand for multi-channel retail in ways that no other software can.”
Second-Quarter Financial Highlights
Total revenue in the second quarter was $86.6 million a 93% increase from the comparable quarter in 2015. Within this, Subscription Solutions revenue grew 72% to $43.7 million, again driven primarily by a strong increase in the number of merchants using our platform. Merchant Solutions revenue grew 121% to $43.0 million, driven primarily by an increase in revenue from Shopify Payments.
Monthly Recurring Revenue1 (“MRR”) as of June 30, 2016 was $14.4 million, up 70% compared with $8.5 million on June 30, 2015.
Gross Merchandise Volume2 (“GMV”) for the second quarter was $3.4 billion, an increase of 106% over the second quarter of 2015. GMV processed through Shopify Payments surpassed the billion-dollar mark in Q2, and the percentage of GMV processed through Shopify Payments continues to grow.
Gross profit dollars grew 83% to $46.2 million over the second quarter of 2015.
Operating loss for the second quarter of 2016 was $8.7 million, or 10% of revenue, versus $3.5 million, or 8% of revenue, for the comparable period a year ago.
Adjusted operating loss3 for the second quarter of 2016 was 4% of revenue, or $3.2 million; adjusted operating loss for the second quarter of 2015 was also 4% of revenue, or $1.9 million.
Net loss was $8.4 million, or $0.10 per share, compared with $3.3 million, or $0.06 per share, for the second quarter of 2015.
Adjusted net loss3 for the second quarter of 2016 was $3.0 million, or $0.04 per share, compared with an adjusted net loss of $1.7 million, or $0.03 per share, for the second quarter of 2015.
At June 30, 2016, Shopify had $179.6 million in cash, cash equivalents and marketable securities, compared with $190.2 million on December 31, 2015…
JT - small position