The Victoria-based company controlled by Andrew Wilkinson’s Tiny Capital said its second-quarter loss totalled about $4.5 million compared to about $224,000 at the same time last year. Tiny is an investor in The Logic. (The Logic)

Talking point: The firm, which builds, grows and acquires businesses that serve the Shopify partner ecosystem, attributed the loss primarily to a roughly $1.9-million foreign exchange loss and about $623,000 in severance payments. Its revenue increased 24 per cent, or about $2.3 million. “Our second-quarter results reflect the ongoing challenges in the broader e-commerce market, owing to both temporary factors as well as a clearly different demand environment for consumer discretionary spend compared to last year,” said CEO Alex Persson in a statement. WeCommerce’s shares fell more than 10 per cent Friday on the TSX Venture Exchange, and are down nearly 80 per cent so far this year.