Since 2017, Fortune and Boston Consulting Group have conjured an annual list of companies that appear poised to grow long-term while also being prepared to innovate and adapt as an unpredictable future unfolds.
The “Future 50” list for 2024 includes just two Canadian companies: legal-tech pioneer Clio, who joins for the first time, and returning veteran Shopify.
This year, Shopify ranked 25th, down from its position of 16th in 2023.
The global list, comprised one-third of technology firms, includes heavy hitters OpenAI, HubSpot, and Snowflake.
While the future looks promising for Shopify, the present is also exciting, who this week reported $5 billion in Black Friday Sales through its e-commerce platform, a figure up more than 20% year-over-year.
Shares in the Ottawa fintech have spiked in recent times, with the firm recently hitting a market capitalization north of $200 billion.
That recent milestone solidified Shopify’s position as the second-biggest publicly traded company in Canada, behind only the venerable Royal Bank at $240B.
“Shopify achieved 26% revenue growth and 19% free cash flow margin this quarter, marking our sixth consecutive quarter of greater than 25% revenue growth excluding logistics,” the firm’s chief financial officer, Jeff Hoffmeister, noted in November.
For the fourth quarter of 2024, Shopify is forecasting year-over-year revenue growth upward of 30% with similar profit margins, according to a statement from the fintech.
Shopify was founded in 2006.
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