{"id":2130,"date":"2020-02-14T14:54:19","date_gmt":"2020-02-14T12:54:19","guid":{"rendered":"http:\/\/www.blog.asmus-puhl.com\/?p=2130"},"modified":"2020-02-14T14:54:19","modified_gmt":"2020-02-14T12:54:19","slug":"shopifys-impressing-2019-results","status":"publish","type":"post","link":"http:\/\/www.blog.asmus-puhl.com\/?p=2130","title":{"rendered":"Shopify&#8217;s impressing 2019 results!"},"content":{"rendered":"\n<p><a rel=\"noreferrer noopener\" aria-label=\"Shopify's 2019 results (opens in a new tab)\" href=\"https:\/\/finance.yahoo.com\/news\/shopify-announces-fourth-quarter-full-120000250.html\" target=\"_blank\">Shopify&#8217;s (NYSE:SHOP) 2019 results<\/a> were even better than already high expectations!<\/p>\n\n\n\n<p>Revenue\nin the last quarter of 2019 came in at $ 505.2 million which means a\ngrowth rate of 47% accelerating from the 45% growth in Q3 2019.<\/p>\n\n\n\n<p>The\nreal big growth driver was the segment \u201emerchant solutions\u201c\n(payment processing, transactions etc.) growing 53% yoy. \n<\/p>\n\n\n\n<p>Gross merchandise volume, the volume of all merchandise sold over Shopify&#8217;s platform for 2019 reached $61.1 billion, an increase of 49% over 2018.<\/p>\n\n\n\n<p>Operating\nloss on a GAAP basis for 2019 was $141.1 million, or 9% of revenue,\nversus $91.9 million, or 9% of revenue, for 2018. This reflects the\ncost of heavy investments into  new offerings for their merchants,\np.e. Shopify launched \u201eShopify Fulfillment Network\u201c a new\nlogistics offering for their merchants.<\/p>\n\n\n\n<p>By\nyear end 2019, already 29% of Shopify&#8217;s merchants were based outside\nthe core geographies of the US and Canada, compared with 24% in these\nlargely non-English-speaking markets in 2018. \n<\/p>\n\n\n\n<p>Shopify\nnow starts to expand internationally which soon could mean another\ngrowth driver for the company.<\/p>\n\n\n\n<p>The\ncompany announced that 2020 will be another year of heavy\ninvestments.<\/p>\n\n\n\n<p>So\ndon&#8217;t expect Shopify to be bottom line positive\nany time soon. But we believe these investments will pay off rather\nsoon.<\/p>\n\n\n\n<p>For\n2020 the company expects revenues\nin the range of $2.130 billion to $2.160 billion an increase of 35%\ncompared to the 2019 revenue of $1.578\nbillion<\/p>\n\n\n\n<p>Consider\nthis estimate \u201econservative\u201c! Shopify will rather exceed that\ngoal.<\/p>\n\n\n\n<p>At yesterday&#8217;s closing price of $532.97 and a market capitalization of $ 61.75 billion Shopify is valued at a 2020 price\/sales ratio of 29! This looks expensive but in our view is more than justified by future growth possibilities this company has.<\/p>\n\n\n\n<p>Even\nafter the tremendous runup we consider this stock a \u201ebuy\u201c!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Shopify&#8217;s (NYSE:SHOP) 2019 results were even better than already high expectations! Revenue in the last quarter of 2019 came in at $ 505.2 million which means a growth rate of 47% accelerating from the 45% growth in Q3 2019. The real big growth driver was the segment \u201emerchant solutions\u201c (payment processing, transactions etc.) growing 53% [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"_links":{"self":[{"href":"http:\/\/www.blog.asmus-puhl.com\/index.php?rest_route=\/wp\/v2\/posts\/2130"}],"collection":[{"href":"http:\/\/www.blog.asmus-puhl.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.blog.asmus-puhl.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.blog.asmus-puhl.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.blog.asmus-puhl.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2130"}],"version-history":[{"count":7,"href":"http:\/\/www.blog.asmus-puhl.com\/index.php?rest_route=\/wp\/v2\/posts\/2130\/revisions"}],"predecessor-version":[{"id":2137,"href":"http:\/\/www.blog.asmus-puhl.com\/index.php?rest_route=\/wp\/v2\/posts\/2130\/revisions\/2137"}],"wp:attachment":[{"href":"http:\/\/www.blog.asmus-puhl.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2130"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.blog.asmus-puhl.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2130"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.blog.asmus-puhl.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2130"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}