Shopify Inc. said revenue doubled in its fourth quarter, while the e-commerce platform gave strong revenue guidance for the year.
Shares surged 21% to $24.80 a share in premarket trading.
Ottawa-based Shopify makes software that enables merchants to sell goods online. The company went public last May at $17 a share. The stock has slid recently, down 22% over the past three months through Tuesday's close.
In all, for the period ended Dec. 31, Shopify reported a loss of $6.31 million, compared with a loss of $4.8 million a year earlier. On a per-share basis, the company posted a loss of eight cents a share, compared with a loss of 12 cents a share a year earlier as shares outstanding nearly doubled.
Excluding special items, the company's per-share loss was a penny, narrower than the average analyst estimate for an adjusted loss of 5 cents a share on Thomson Reuters.
Revenue surged to $70.2 million from $35.2 million a year earlier, surpassing the average analyst estimate of $61.2 million.
Looking ahead, Shopify forecast revenue of $320 million to $330 million for the year. Analysts had been expecting $286.7 million in revenue.
For the current quarter, the company expects revenue of $65 million to $67 million, also topping analysts' forecast for $62.1 million in revenue.