|Shopify Announces First-Quarter 2017 Financial Results|
Total revenue in the first quarter was $127.4 million, a 75% increase from the comparable quarter in 2016. Within this, Subscription Solutions revenue grew 60% to $62.1 million. This increase was driven by the continued rapid growth in Monthly Recurring Revenue1 (“MRR”) as a record number of merchants joined the platform in the period. Merchant Solutions revenue grew 92% to $65.3 million, driven primarily by the growth of Gross Merchandise Volume2 (“GMV”).