Shopify Results Presentation Deck
2022 full-year outlook considerations
Revenue
Gross profit
Operating expense
Adjusted operating
loss
Stock-based
compensation
Capital expenditures
Amortization of
acquired intangibles
Full Year 2022
Quarters spread more evenly (similar to 2021)
Merchant solutions revenue growth 2x subscription
solutions revenue growth
Gross profit dollar growth to trail revenue growth due
to a larger mix of Merchant Solutions and Deliverr,
which we expect to be dilutive
Exit the year with OpEx growth decelerating
Re-investment year for future long-term growth
$750M (previously $800M)
$200M (unchanged from previous outlook)
$62M (unchanged from previous outlook)
Additional commentary related to 2H22:
Deliverr acquisition
Accretive to revenue growth
Dilutive to gross margin
+450 employees
OpEx Considerations for 2H22:
Compensation structure change (+$50M)
Other expenses (+$50M)
Adjusted operating loss:
Q3 AOL to materially increase from Q2 22
Q4 AOL significantly smaller than Q3 and
larger than Q2
With addition of Deliverr, we expect to exit 2022 with
modest increase in total headcount versus beginning
of year.View entire presentation