Shopify Growth Overview

Expressed in US$000s GAAP Gross profit Reconciliation of GAAP to Non-GAAP Figures add: SBC and SBC-related payroll taxes add: Amortization of acquired intangibles Non-GAAP Gross profit % of Revenue 2019 2020 865,643 1,541,520 2021 Q4'20 Q4'21 2,481,144 504,388 692,659 4,090 7,472 7,642 1,705 1,995 9,624 19,488 20,399 4,532 5,960 879,357 1,568,480 2,509,185 510,625 700,614 56% 54% 54% 52% 51% GAAP Sales and marketing 472,841 602,048 901,557 154,728 275,475 less: Sales and marketing SBC and SBC-related payroll taxes 38,167 46,390 47,283 10,044 13,735 less: Amortization of acquired intangibles 283 1,548 1,544 384 386 Non-GAAP Sales and marketing 434,391 554,110 852,730 144,300 261,354 % of Revenue 28% 19% 18% 15% 19% 32 32

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