(Toronto) Shopify posted a loss of US$623.6 million in its most recent quarter, even as revenue grew 26% from the same period a year earlier.
The Ottawa technology company, which specializes in e-commerce solutions, said its fourth quarter result compared with a net loss of US$371.3 million for the last three months of the previous fiscal year.
Loss per share for the quarter ended Dec. 31 was 49 cents US, compared to 30 cents US for the prior fourth quarter.
Analysts on average had expected a loss of 16 cents per share, according to forecasts compiled by financial data firm Refinitiv.
Shopify’s revenue hit $1.7 billion in the quarter.
In its outlook, the company said it expects revenue growth of between 15% and 20% on an annual basis for the coming quarter, but it also expects an increase in its labor costs.