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16 Feb 2022 By Sharon Lam Follow @sharonlam_

The Canadian e-commerce firm’s shares fell after it said it’s shifting towards a more Amazon-like model of operating warehouses. Having surfed the online shopping wave, Shopify risks losing investors who have chased the asset-light tech craze too.

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Shopify on Feb. 16 said that total revenue in the fourth quarter was nearly $1.4 billion, a 41% increase from a year earlier. The e-commerce firm’s subscription revenue from merchants rose 26% year-on-year to $351 million, while revenue from add-on services like payments rose 47% year-on-year to $1.0 billion. The company made a fourth-quarter net loss of $371 million.

Shopify said it would be shifting towards operating more major hub warehouses themselves while also continuing to leverage partnerships. It also predicted slower revenue growth for the full year of 2022 than that of 2021.

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