GAAP operating expenses for the three months ended September 30, 2019, increased to $252 million from $181 million in the prior year period, while non-GAAP operating expenses increased to $209 million from $154 million.
For fiscal 2019, Shopify expects revenue to be between $1.545 billion and $1.555 billion. GAAP operating loss is expected to be in the range of $158 million to $168 million.
For the fourth quarter of 2019, revenue is touted be in the range of $472 million to $482 million and GAAP operating loss is estimated to be in the range of $47 million to $57 million.
Shopify, which surpassed one million merchants in its platform during the third quarter, reported a 48% year-over-year increase in gross merchandise volume (GMV) to $14.8 billion. Gross payments volume (GPV) grew to $6.2 billion from $4.1 billion in the year-ago quarter.
As part of its expansion initiatives, Shopify completed the acquisition of warehouse fulfillment solutions provider 6 River Systems two weeks back.
SHOP stock had surged 135% so far this year and 144% from this time last year.