Canadian e-commerce platform Shopify had revenue of $1.4 billion in the third quarter, an increase of 22% over the same period last year.

On the evening of October 27, Beijing time, Canadian e-commerce platform Shopify today released its results for the third quarter of 2022, ending September 30. Shopify's total revenue in the third quarter was $1.4 billion, up 22% from a year earlier, according to the results. The net loss was $158.4 million, compared with a net profit of $1.1 billion in the same period last year. The adjusted net loss was $30 million, compared with a net profit of $102.8 million in the same period last year.

Third quarter results:

Total revenue was $1.4 billion, up 22% from a year earlier.

GMV was $46.2 billion, up 11% from a year earlier.

Gross profit was $662.3 million, up 9 per cent from a year earlier. Adjusted gross profit was $681.8 million, up 11% from a year earlier.

The operating loss was $345.4 million, compared with an operating loss of $4.1 million in the same period last year. The adjusted operating loss was $45.1 million, compared with an operating profit of $140.2 million in the same period last year.

The net loss was $158.4 million, compared with a net profit of $1.1 billion in the same period last year. The adjusted net loss was $30 million, compared with a net profit of $102.8 million in the same period last year.

As of September 30, 2022, Shopify had $4.9 billion in cash, cash equivalents and marketable securities, compared with $7.8 billion as of December 31, 2021.

Performance outlook:

Shopify expects GMV growth in the fourth quarter to continue to outpace that of the US retail market, operating expenses to grow in the fourth quarter from a year earlier, and a month-on-month decline, and an adjusted operating loss in the fourth quarter will be the same as in the third quarter. Throughout 2022, it will remain operating at a loss.