Shoper increased revenue by 65% after 3 quarters, and GMV topped 5 billion zlotys. Strategic partnerships planned for Q4

Shoper, a leader in the Polish market for ecommerce solutions offered in the SaaS (Software as a Service) model, has published its preliminary estimated financial results.

Cumulative revenues after three quarters amounted to PLN 53.4 million, growing by 65% y/y and surpassing the full-year 2020 result by PLN 6.4 million. Adjusted EBITDA reached PLN 22.8 million, up 39% y/y. The GMV of direct stores on the Shoper platform increased from PLN 2.8 billion to PLN 4.2 billion, recording a growth rate of 50%. For the last 12 months ended September 2021, it already amounted to PLN 5.4 billion, growing 56% y/y.

Shoper's business model is characterized by a high level of scalability, which improves performance as the number of users of the platform increases. In addition to Shoper's subscription-distributed solution, a number of additional services are billed under the pay-as-you-grow model, which correlates Shoper's 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 5.4 billion.

- A perfectly tailored ecommerce service offering for SMEs makes Shoper platform users grow much faster than the broad e-commerce market. The dynamics of our revenues are closely correlated with the success of our customers which translates into record financial results for Shoper. In the first 3 quarters, our revenues grew by 65% year-on-year, despite the record growth rate of the ecommerce market in 2020. We are also pleased with the very rapid growth of GMV - indeed already exceeding PLN 5 billion over the last 12 months," comments Marcin Kuśmierz, CEO of Shoper.

Shoper is carrying out a number of projects related to expanding its ecommerce offering for small and medium-sized businesses. In the first half of the year, it invested in a multi-channel (omnichannel) sales platform, ErpBox, enabling, among other things, sales through Polish and foreign trading platforms and integrations with accounting and ERP systems. Shoper platform users also gained access to a new system of smart recommendations and financial services (buy now, pay later). In Q3, Shoper made the acquisition of Shoplo, the third player in terms of the number of supported stores on the market in the SaaS model. As a result of the acquisition, some 4,700 stores will be migrated to the Shoper platform, and the ability to take advantage of the new services, will allow them to dynamically increase their sales.

- In recent weeks, we have started building more business areas - offering new cloud services (Commerce Cloud) and sales financing (Financial Services). Dozens of new services, implemented in cooperation with market leaders, will support the development of Shoper platform users in optimizing operational processes and providing financing for further business development," 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 steady and high growth rate, which accelerated during the 2020 pandemic.

The company made its debut on the main market of the Warsaw Stock Exchange on July 9, the value of the public offering of shares was PLN 363 million. Shoper's share reference price was set at PLN 47, the maximum offering price for institutional and individual investors.