As we start off the new year with a continued spike in cashless commerce and a digital ecosystem that shows no signs of slowing down, PF giant Square reports a successful fourth quarter that helped give rise to the digital momentum we see now.
“We are driving innovation and adoption of new services by reinvesting in our ecosystem: In the fourth quarter of 2018, revenue from products launched in the last five years was 37% of total net revenue and 51% of Adjusted Revenue, up from 22% and 36%, respectively, in the prior year period. Our investment activity is guided by our three ongoing focus areas: strengthening omnichannel commerce, expanding financial services, and growing current international markets.” ~Square shareholder letter
- Square’s total net revenue for Q4 was up 51% at $933 million YoY.
- Gross payment volume for Q4 was up 28% YoY at $23 billion.
- Net loss for the quarter was $28 million compared to $16 million in Q4 of 2017.
- Q4 adjusted revenue
was up 64% YoY at $464 million.
- For the full year of 2018, excluding the Weebly and Zesty acquisitions, total net revenue and adjusted revenue grew 46% and 54% year over year, respectively.
- For the full year of 2018, transaction-based revenue was $2.5 billion, up 29% year over year, and transaction-based profit was $913 million, up 32% year over year.
Also worthy of mention: PayPal, RealPage, Blackbaud and Shopify are some of the other PFs that reportedly closed off the year with a bang (or, more accurately, a swipe, tap or click).
“In 2018 we set new benchmarks for the company for revenue, net new active accounts and engagement across our platform. We believe 2019 will be another strong year for us, and we intend to build on our strengths to extend our leadership as the leading open digital payments platform.” said Dan Schulman, president and CEO of PayPal.
For Q4 2018:
- The company reported total revenue of $4.23 billion for Q4 2018.
- Overall GAAP revenue was up 13% on both a spot and foreign currency-neutral basis.
- Non-GAAP revenue was up 14% on both a spot and foreign currency-neutral basis.
- Payment transactions were also up 28% for Q4 at 2.9 billion.
- Up 27% for the full year at 9.9 billion
- And total payment volume was up 23% for Q4 at $164 billion.
- Up 27% for the full year at $578 billion
“We made history in 2018: No other SaaS company has crossed the $1 billion-dollar revenue mark at a faster growth rate than Shopify has,” said Shopify CEO Tobi Lütke.
For Q4 2018:
- Total revenue for the fourth quarter was $343.9 million.
- $1.073 billion for the full year and up 59% from 2017
- Subscription Solutions revenue grew 42% to $133.6 million.
- $465.0 million for the full year and up 50%
- Merchant Solutions revenue was also up 63% at $210.3 million.
- Gross merchandise volume (GMV) grew by 54% at $14.0 billion.
- Gross payments volume increased to $5.8 billion and accounted for 41% of total GMV processed for Q4.
- Gross profit dollars increased 53% to $185.7 million.
“We had a solid finish to 2018 and we furthered our strategic initiatives to position the company for long-term success,” said Mike Gianoni, Blackbaud’s president and CEO. “This was a banner year for Blackbaud innovation to digitally transform the markets we serve.”
For Q4 2018:
- Total GAAP revenue was up 1.8% at $221.2 million.
- Up 7.6% for the full year at $848.6 million
- GAAP recurring revenue totaled $199.9 million (up 4.9%) and accounted for 90.4% of total GAAP revenue.
- Total non-GAAP revenue was up 1.2% at $221.8 million.
- Up 7.6% for the full year at $851.0 million
- Non-GAAP recurring revenue was up 4.2% ($200.52 million) and accounted for 90.4% of total non-GAAP revenue.
- Non-GAAP organic recurring revenue increased 2.8%.
“Our 2018 financial performance was impressive,” said Steve Winn, chairman and CEO of RealPage. “The strong financial performance reflects continued execution of our strategy to emphasize strategic platform sales over the sales of individual products.”
For Q4 2018:
- GAAP total
revenue was $227.0 million, an increase of 21% year-over-year.
- Up 30% for the full year at $869.5 million
- Net income was
$6.3 million, or $0.07 in net income per diluted share, a year-over-year
increase of 130% and 127%, respectively.
- Also up for the full year at $34.7 million or $0.38 per diluted share
- Adjusted EBITDA was $60.8 million, an increase of 30% year-over-year.
- Non-GAAP net income was $36.6 million, or $0.39 in non-GAAP net income per diluted share, a year-over-year increase of 68% and 50%, respectively.
*Generally Accepted Accounting Principles (GAAP) income equates to operating income, operating margin and earnings per share.
*Non-GAAP earnings are calculated by adding back the non-cash expenses of depreciation and amortization to a company’s operating income.