Shopify Inc. (NYSE:SHOP) Q4 2018 Earnings Conference Call Transcript

Feb 12, 2019 • 08:30 am ET

Previous

Shopify Inc. (NYSE:SHOP) Q4 2018 Earnings Conference Call Transcript

Share
Close

Loading Event

Loading Transcript

Presentation
Operator
Operator

Good morning. My name is Lisa and I'll be your conference operator today. At this time, I would like to welcome everyone to the Shopify Q4 2018 Financial Results Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session.

(Operator Instructions)

Thank you. Katie Keita, you may begin your conference.

Executive
Katie Keita

Thank you, operator and good morning everyone. We are glad you can join us for Shopify's fourth quarter 2018 conference call. We are joined this morning by Tobias Lutke, Shopify's CEO, Harley Finkelstein, our Chief Operating Officer; and Amy Shapero, our CFO.

After prepared remarks, we will open it up for your questions.

We will make forward-looking statements on our call today that are based on assumptions and therefore, subject to risks and uncertainties that could cause actual results to differ materially from those projected. We undertake no obligation to update these statements except as required by law. You can read about these risks and uncertainties in our press release, this morning, as well as in our filings with US and Canadian regulators.

Also our commentary today will include adjusted financial measures, which are non-GAAP measures. These should be considered as a supplement to and not as a substitute for GAAP measures. Reconciliations between the two can be found in our earnings press release, which is on our website. And finally note that because we report in US dollars, all amounts discussed today are in US dollars, unless we say otherwise.

With that, I will turn the call over to Harley.

Executive
Harley Finkelstein

Thanks, Katie, and good morning, everyone. 2018 was another phenomenal year for Shopify and for our merchants. We hit major product milestones while stepping into new and exciting territory. And we continue to evolve as an organization in our mission to make commerce better for everyone.

First off, I want to thank the team at Shopify for their passion and hard work over the past year. We wrapped up an amazing year and delivered an incredible fourth quarter as a result. And together, we achieved a truly incredible milestone this year. No other SaaS company at the $1 billion-revenue mark has ever grown at this rate, 54% in our last quarter and 59% for the full year.

This is historic, not just for us, but for the industry. It is truly something to be proud of. How did we get here? Simple. Merchant success has been and will always be our top priority.

It guides the decisions we make on a daily basis and is infused into everything we do at Shopify. This was reflected in our fourth quarter and across our three priority areas of investment in 2018, platform, Shopify Plus and international. Let's start with platform. We aim for Shopify to be the first thing that merchants open in the morning and the last thing that merchants close at night.

In other words, we want Shopify to be the heart and soul of a