The turnover of JSC (Joint Stock Company) Printful Latvia increased to 83.7 million euros in 2023, marking a 6.12% rise compared to the previous year. Profits rose to 6.49 million euros last year, reports Labs of Latvia.
However, it should be noted that this is only part of the company’s total turnover. The company does not publicly comment on the overall turnover of Printful worldwide. The last publicly known financial data for Printful, Inc. is from 2021, when the company’s revenue exceeded $289 million.
Last year, JSC Printful Latvia provided jobs for 616 employees, according to information published by “Klientu Portfelis.” The company paid 11.21 million euros in tax.
In 2023, Printful acquired Snow Commerce, the first time that Printful had acquired another company. Although the amount of the transaction has not been publicly disclosed, Printful co-founder Dāvis Siksnāns stated on social media that this is likely the largest merger transaction ever made by a Latvian-founded technology company in the USA.
Printful is a printing and sewing outsourcing company that automatically receives, manufactures, and ships orders on behalf of online stores.
The company operates 10 production facilities. Four of them are in the USA – two in Charlotte, and one each in Los Angeles and Dallas. Printful also has production facilities in Mexico and Canada, as well as two in its native Latvia, one in Barcelona, and one in Great Britain. Printful employs more than 1,000 people in its factories and offices worldwide.
Printful is also known for being Latvia’s first "unicorn" – a company whose value has exceeded one billion dollars as a result of attracting investment. In 2022, Printful secured $130 million in investment. The venture capital fund Bregal Sagemount, the company’s investor, holds a minority share, while the controlling stake remains with the company's founders.
The turnover of JSC Printful Latvia in 2022 was 78.89 million euros, an increase of 11.79% compared to the previous year. The company’s profit in 2022 grew to 6.15 million euros after tax.
