Shopify Start Up Pitch Deck

Reconciliation to GAAP Figures 9 mo ended Sept 30, 2015 GAAP Gross profit add: cost of revenues SBC Non-GAAP Gross Profit % of Revenue GAAP Sales and marketing less: Sales and marketing SBC Non-GAAP Sales and Marketing % of Revenue GAAP Research and development less: Research and development SBC Non-GAAP Research and development % of Revenue GAAP General and administrative less: General and administrative SBC less: Non-recurring sales and use tax expense Non-GAAP General and administrative % of Revenue GAAP Operating Expense less: Operating SBC less: Non-recurring sales and use tax expense Non-GAAP Operating Expense % of Revenue 2012 18,937 11 18,948 80% 12,262 66 12,196 51% 6,452 282 6,170 26% 1,737 49 1,688 7% 20,451 397 20,054 84% 2013 36,739 113 36,852 73% 23,351 354 22,997 46% 13,682 1,152 12,530 25% 3,975 147 3,828 8% 41,008 1,653 39,355 79% 2014 61,795 259 62,054 59% 45,929 696 45,233 43% 25,915 2,776 23,139 22% 11,566 712 2,182 8,672 8% 83,410 4,184 2,182 77,044 73% 9 mo ended Sept 30, 2014 42,182 159 42,341 61% 33,720 451 33,269 48% 19,296 2,010 17,286 25% 6,286 347 5,939 9% 59,302 2,808 56,494 81% 75,561 198 75,759 56% 47,847 681 47,166 35% 26,181 2,853 23,328 17% 12,770 1,547 566 10,657 8% 86,798 5,081 566 81,185 60% 29

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