Shoper, market leader of online stores in the SaaS model (Software as a Service), published a financial report for the first half of 2021. Revenues in this period amounted to PLN 33.4 million, which means an increase by 60% y/y and adjusted EBITDA reached the level of PLN 15.6 million, higher by 44% y/y. The value of GMV of direct stores on the Shoper platform increased to PLN 2.5 billion in the first half of 2021, recording a dynamics of 41%. For the last 12 months, ended in June, GMV exceeded PLN 4.7 billion.

The Shoper business model is characterized by a high level of scalability, which improves profitability along with the increase in the number of platform users. In addition to the Shoper solution distributed as a subscription, many additional services are settled in the pay- as-you-grow model, which consists in correlating Shoper's revenues with the gross merchandise value (GMV) by stores on the Company's platform. Over the last 12 months, the value of GMV generated by direct stores on the Shoper platform increased to PLN 4.7 billion.

We are consistently developing the Shoper platform to best meet the needs of small and medium-sized companies that represent the fastest growing segment of the Polish e- commerce market. By strengthening the role of the pay-as-you grow model, we were able to grow faster than the broad market for another quarter in a row and record a high, 60% year- on-year increase in revenues, despite the high base related to the pandemic. The growth of the e-commerce industry accelerated significantly last year, but we are still at its early stage. The growth dynamics of GMV on the Shoper platform recorded in the first half of 2021 amounted to 41%, which well reflects the further development potential of the entire sector. We look positively at the second half of the year, together with new entrepreneurs who constantly join our platform after the acquisition of Shoplo in August, until recently the third largest player on the market of e-commerce platforms in the SaaS model. The total number of stores on the Shoper platform, including Shoplo users and stores sold by private label partners, already exceeds 26.5 thousands, 85% of which are operated directly – comments Marcin Kuśmierz, President of the Management Board of Shoper.

The company carries out a number of projects related to extending the e-commerce offer for small and medium-sized companies. In the first half of the year, it made an investment in the ErpBox omnichannel sales platform, enabling, inter alia, sales via Polish and foreign trading platforms and integration with CRM and ERP systems. The users of the Shoper platform also gained access to a new system of intelligent recommendations and financial services (buy now, pay later). In the second half of the year, Shoper plans to introduce, among others, new logistics services (e.g. fullfilment) as well as expand the offer of financial services (e.g. financing the development of merchants).

In the first half of the year, we expanded our offer, among others by the option of deferred payments or an advanced system of intelligent recommendations supporting the sale of entrepreneurs using the Shoper platform. Soon we will be able to present other additional services, covering the area of finances and logistics. We continue to invest in the development of teams, prepare new services and consistently implement the company's strategy, which will allow us to continue dynamic growth also in subsequent periods – adds Marcin Kuśmierz.

The company operates in the popular SaaS model, which consists in offering the service in the form of a subscription. In the case of Shoper, there are several different packages in terms of content, allowing for flexible adjustment of the solution to the size and characteristics of a given business. The SaaS market is characterized by high growth dynamics, which accelerated during the pandemic.

Shoper debuted on 9 th of July this year on the main market of the Warsaw Stock Exchange, the value of the public offering of shares amounted to PLN 363 million. The current price of the Shoper stock is by 51% percent higher than the maximum price from the offer for institutional and individual investors.

Shoper’s financial results:

Financial results