On April 28th, Global e-commerce SaaS service provider Shopify released its first-quarter 2021 financial report. According to the report, in the quarter, Shopify’s revenue was US$989 million, a year-on-year increase of 110%; gross profit was US$558.7 million, a year-on-year increase of 117% (adjusted gross profit was US$565.1 million, a year-on-year increase of 114%); net profit It was US$1.258 billion (including the company’s US$1.3 billion unrealized gains on Affirm’s equity investment), compared with a net loss of US$31.4 million in the same period last year.
It is reported that of the US$989 million in revenue, Shopify’s subscription solutions revenue was US$320.7 million, a year-on-year increase of 71%; business solutions revenue was US$668 million, a year-on-year increase of 137%. In the quarter, Shopify’s global merchants’ gross merchandise transactions (GMV) were US$37.3 billion, an increase of 114% year-on-year; total transaction payments (GPV) were US$17.3 billion, accounting for 46% of GMV this quarter, compared with 73% in the same period last year. Billion US dollars, accounting for 42%.
As of March 31, 2021, Shopify has $7.87 billion in cash, cash equivalents, and marketable securities.
However, Shopify predicts that the revenue growth rate in 2021 will be lower than that in 2020, and the adjusted operating profit for the whole year will decline year on year. The surge in GMV in 2020 will not occur again.
It should come as no surprise that Shopify dropshipping is on the upswing when you look at how e-commerce and mobile technology have developed together, and pair that “co-evolution” with the enormous impact that COVID-19 has had on online retail shopping.
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