SHOP Latest Report

Performance of the Quarterly Report

Shopify's total operating revenue reached US$2.812 billion as of December 31, 2024, up 31.38% YoY. This growth reflects the company's strong performance in the e-commerce sector and effective market expansion strategy.

Key Data from the Financial Report

1. Total Operating Revenue: US$2.812 billion in 2024, US$2.144 billion in 2023, a growth rate of 31.38%

2. Subscription Revenue in Q2 was US$563 million, up 27% YoY

3. The number of global merchants continues to increase, with Plus merchants accounting for 31% of monthly recurring revenue in Q3

4. International market GMV grew over 30%, with cross-border transactions accounting for 14% of total GMV

Peer Comparison

1. Industry-wide Analysis: The e-commerce industry has continued to grow overall in the post-pandemic era, with global sales in Q2 2024 up 22% YoY. Shopify, as a major player, has benefited from this trend and shown strong market demand.

2. Peer Review Analysis: Shopify's total operating revenue growth rate stands out among its peers, such as WooCommerce and BigCommerce, whose growth rates are relatively lower, indicating its competitive advantage and brand influence in the market.

Summary

Shopify successfully achieved significant growth in operating revenue in 2024 through diversification of products and services, optimized marketing strategies, and expansion in international markets. Its growth performance outperforms the industry average, further solidifying its leadership in the e-commerce market.

Opportunities

1. Continue to expand in international markets, especially in emerging markets with high growth potential

2. Strengthen the application of AI technology to enhance merchant operating efficiency and user experience

3. Promote the development of B2B products to further explore new revenue sources

4. Leverage the promotion of new products and services to increase customer stickiness and market share

Risks

1. Intensified market competition may affect revenue growth rate

2. Global economic fluctuations may impact the expansion of international markets

3. High operating costs may affect profitability and require strict cost control

4. Rapid technological changes require continuous innovation to maintain competitive advantage