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Shoper, the market leader in online stores in the SaaS (Software as a Service) model, released its financial report for the first half of 2021. Revenues in the period amounted to PLN 33.4 million, up 60% year-on-year, and adjusted EBITDA reached PLN 15.6 million, up 44% year-on-year. The GMV of direct stores on the Shoper platform increased to PLN 2.5 billion in H1 2021, recording a growth rate of 41%. GMV for the last 12 months ended in June this year, exceeded PLN 4.7 billion.
Shoper, the market leader in online stores in the SaaS (Software as a Service) model, released its financial report for the first half of 2021. Revenues in the period amounted to PLN 33.4 million, up 60% year-on-year, and adjusted EBITDA reached PLN 15.6 million, up 44% year-on-year. The GMV of direct stores on the Shoper platform increased to PLN 2.5 billion in H1 2021, recording a growth rate of 41%. GMV for the last 12 months ended in June this year, exceeded PLN 4.7 billion.
The Shoper business model is characterized by a high level of scalability, which improves margins as the number of users of the platform increases. In addition to the subscription-distributed solution Shoper, many ancillary services are billed under the pay-as-you-grow model, which involves correlating Shoper revenues with the volume of turnover generated (GMV) by stores on the Company's platform. In the last 12 months, the GMV generated by direct stores on the Shoper platform increased to PLN 4.7 billion.
- We are consistently developing the platform Shoper, to best meet the needs of small and medium-sized businesses, which represent the fastest growing segment of the Polish e-commerce market. By strengthening the role of the pay-as-you-grow model, we were able to grow faster than the broad market for another consecutive quarter and record a high 60% year-on-year revenue growth, despite the high pandemic-related base. While the growth of the e-commerce industry accelerated significantly last year, we are still in its early stages. The reported growth rate of GMV on the Shoper platform in H1 2021 was 41%, which reflects well the further growth potential of the entire sector. We are looking positively at the second half of the year, together with the new entrepreneurs who are steadily joining our platform following the August acquisition of Shoplo, until recently the third largest player in the SaaS e-commerce platform market. The total number of stores on the platform Shoper, which includes Shoplo customers and stores sold by partners on a private label basis, already exceeds 26,500, 85% of which are operated directly," comments Marcin Kuśmierz, CEO of Shoper.
The company is carrying out a number of projects related to expanding its e-commerce offerings for small and medium-sized businesses. In the first half of the year, it invested in the ErpBox multi-channel (omnichannel) sales platform, enabling, among other things, sales through Polish and foreign trading platforms and integrations with CRM and ERP systems. Users of the Shoper platform also gained access to a new system of smart recommendations and financial services (buy now, pay later). In the second half of the year, Shoper plans to introduce, among other things, new logistics services (e.g., fullfilment) and also expand its offer of financial services (e.g., merchant development financing).
- In the first half of the year, we expanded our offer with, among other things, a deferred payment option or an advanced system of intelligent recommendations to support the sales of entrepreneurs using the platform Shoper. Soon we will be able to present further additional services, covering the areas of finance and logistics. We continue to invest in the development of our teams, prepare new services and consistently implement the company's strategy, which will allow us to continue dynamic growth in future periods as well," adds Marcin Kuśmierz.
The company operates on the popular SaaS model of offering a service in the form of a subscription, in the case of Shoper there are several differentiated packages in terms of content, allowing the solution to be flexibly tailored to the size and characteristics of a given business. The SaaS market has a high growth rate, which accelerated during the pandemic period.
Shoper made its debut on July 9 on the main market of the Warsaw Stock Exchange, the value of the public offering of shares amounted to PLN 363 million. The current share price of Shoper is 51 percent higher than the maximum offering price for institutional and individual investors.
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