Friday, August 7, 2020

Stamps.com Sees Surge On ECommerce Growth

El Segundo-based online postage and shipping software developer Stamps.com reported its second quarter results on Thursday, saying it saw a 49 percent increase in its revenues for the quarter, to $206.7M, as a result of a surge in e-commerce activity. The publicly held company attributed the growth to the growth in e-commerce, which it said has been an "important lifeline" to many businesses and individuals during the COVID-19 pandemic. In addition to the overall growth, Stamps.com said it saw second quarter 2020 customized postage revenues of $8.8 million, up 182 percent compared to the second quarter of 2019. The company did not detail the reasons for the huge growth numbers in that segment, but it did supply custom stamps to support the U.S. Postal Service, which was part of a fundraiser by John Oliver on Last Week Tonight. Stamps.com said earlier that it generated over $4M in sales from that effort, which--if booked in Q2--would represent almost half of its custom postage revenues for Q2.