Techopia

As tech companies carry out rounds of layoffs, Shopify Inc.'s president says there are no more cuts in the works for the Ottawa-based e-commerce company.

A prominent analyst predicts Shopify could ally with Amazon as both companies navigate shifting consumer habits and an economic slowdown.

The result for the period ended Dec. 31 amounted to a net loss of 49 cents per diluted share compared with 30 cents per diluted share in the same quarter the year before.

The Kanata-based firm, which makes wireless network troubleshooting software, reported sales of $4.05 million for the three-month period ending Dec. 31, down from $4.45 million the previous year.

The Kanata-based firm – which is divided into four main divisions that deliver a range of products and services from cybersecurity software to satellite components – reported record revenues of $147.5 million in the first quarter of its fiscal 2023.

Neither layoffs hitting tech companies nor a shortage of workers seem to be weighing heavily on the country's jobs numbers.

The company’s two main products, EV Fleet Orchestrator and EV Everywhere, aim to minimize traffic congestion on the power grid by steering operators of electric vehicles toward non-peak charging times. 

Most businesses expend a lot of effort tracking where their money is going, but Ottawa software enterprise is focused on helping them better understand how they spend a resource that’s perhaps even more precious: time.

The latest batch of the Ottawa-based firm's updates come as its stock price remains in a slump and as it charts a new future after laying off 1,000 workers while admitting it misestimated its near-term growth rate.