OTTAWA - Shopify Inc. reported a loss of US$23.2 million in its latest quarter as its revenue grew 58 per cent compared with a year ago.
The e-commerce company, which keeps its books in U.S. dollars, says the loss amounted to 22 cents per share for the quarter ended Sept. 30 compared with a loss of $9.4 million or nine cents per share in the same quarter last year.
Revenue for what was the company's third quarter totalled $270.1 million, up from $171.5 million a year ago.
Shopify says subscription solutions revenue grew 46 per cent to $120.5 million, while its merchant solutions revenue grew 68 per cent to $149.5 million.
On an adjusted basis, Shopify says it earned four cents per share in the quarter compared with an adjusted profit of five cents per share in the third quarter last year.
Analysts on average had expected a loss of three cents per share, according to Thomson Reuters Eikon.
Companies in this story: (TSX:SHOP)