Shopify Inc. (NYSE:SHOP) Q1 2022 Earnings Conference Call May 5, 2022 8:30 AM ET Company Participants Katie Keita - Senior Director, IR Harley Finkelstein - President Amy Shapero - CFO Tobi Lütke - Founder, Chairman & CEO Conference Call Participants Trevor Young - Barclays Daniel Chan - TD Securities Thomas Forte - D.A. Davidson Colin Sebastian - Robert W. Baird Gabriela Borges - Goldman Sachs Samad Samana - Jefferies Josh Beck - KeyBanc Matthew Pfau - William Blair Tyler Radke - Citigroup Inc. Paul Treibe ...

EXHIBIT 99.1 Condensed Consolidated Financial Statements (unaudited) March 31, 2022 Shopify Inc. Condensed Consolidated Balance Sheets (unaudited) Expressed in US $000's except share amounts | --- | --- | --- | --- | --- | |-------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------------|---------|-------------------------------|------------------------------| | | | Note | As \nMarch 31, 20 ...

Financial Data and Key Metrics Changes - Revenue for Q4 2021 reached $1.38 billion, a 41% increase year-over-year [19] - Subscription Solutions revenue grew 26% year-over-year to $351.2 million, with monthly recurring revenue (MRR) increasing 23% to $102 million [19][20] - Merchant Solutions revenue surged 47% to nearly $1.03 billion, driven by a 31% increase in GMV to $54.1 billion in Q4 [21] - Adjusted gross profit grew 37% to $700.6 million, while adjusted operating income decreased to $130.2 million from $200 million in Q4 2020 [22] - Adjusted net income for the quarter was $172.8 million, or $1.36 per diluted share, down from $198.8 million, or $1.58 per diluted share, in Q4 2020 [22] Business Line Data and Key Metrics Changes - Shopify Plus added a record number of merchants in Q4, contributing $29.8 million or 29% of MRR, up from 25% in Q4 2020 [19] - GMV processed on Shopify Payments in Q4 was $27.7 billion, a 45% increase year-over-year, with payments penetration of GMV rising to 51% [21] - Shopify Capital advanced nearly $324 million in Q4, a 43% increase from the same period last year, bringing cumulative advances since 2016 to over $3 billion [14] Market Data and Key Metrics Changes - The number of merchants on Shopify nearly doubled compared to 2019, with over 14,000 merchants on Shopify Plus [6] - Nearly 600 million shoppers made purchases from Shopify merchants in 2021, a 31% increase from 2020 [6] - The share of merchants outside North America continued to grow, contributing to the overall mix [6] Company Strategy and Development Direction - The company aims to focus on four key investment themes for 2022: building buyer relationships, going global, growing from first sale to full scale, and simplifying fulfillment [7][24] - Shopify Markets was introduced to optimize international selling for merchants, enhancing features like currency conversion and language translation [13] - The company plans to enhance its fulfillment network to enable 2-day delivery coverage for over 90% of the U.S. population [16][28] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the continued growth of digital commerce, despite potential headwinds from inflation and consumer spending [31] - The outlook for 2022 anticipates revenue growth lower than 2021's 57%, but still rapid, driven by expansion into new markets and services [32] - The company expects to invest aggressively in R&D and sales and marketing to support growth initiatives [36] Other Important Information - The company reported a cash, cash equivalents, and marketable securities balance of $7.77 billion as of December 31 [22] - Shopify's team grew to 10,000 employees, reflecting the company's commitment to building infrastructure for modern commerce [6][18] Q&A Session Summary Question: How should Shopify think about cash and stock compensation to secure tech talent? - Management acknowledged the competitive market for tech talent and emphasized the importance of compensation and the innovative work environment at Shopify [39][40] Question: What drove the decision to operate more fulfillment centers in-house? - The decision was based on the need for better quality control and cost management, with a focus on enabling 2-day delivery coverage for a larger population [43][44] Question: How will the three-year investment cycle impact capacity? - Management indicated that revenue would ramp up in alignment with investments, focusing on maintaining high merchant satisfaction during the transition [47][48] Question: How does Shopify decide what to incorporate into its core platform versus what to delegate to partners? - The decision is based on merchant needs; if a feature is widely required, it becomes part of the core offering [49][50] Question: How is Shopify planning to monetize the Shop App while maintaining brand control for merchants? - The Shop App aims to enhance merchant relationships with buyers, increasing customer lifetime value, while monetization strategies will align with improving merchant sales [55]

EXHIBIT 99.1 Shopify Announces Fourth-Quarter and Full-Year 2021 Financial Results Fourth-quarter 2021 Merchant Solutions Revenue exceeds $1 billion for the first time Shopify reports in U.S. dollars and in accordance with U.S. GAAP Internet, Everywhere - February 16, 2022 - Shopify Inc. (NYSE, TSX:SHOP), a provider of essential internet infrastructure for commerce, announced today strong financial results for the quarter ended December 31, 2021. "The last two years have been extraordinary," said Harley Fin ...

Shopify Inc. (NYSE:SHOP) Q3 2021 Results Conference Call October 28, 2021 8:30 AM ET Company Participants Katie Keita - Director of IR Harley Finkelstein - President Tobias Lütke - CEO Amy Shapero - CFO Conference Call Participants Thomas Forte - D.A. Davidson Ken Wong - Guggenheim Securities Siti Panigrahi - Mizuho Deepak Mathivanan - Wolfe Research Samad Samana - Jefferies Colin Sebastian - Baird Daniel Chan - TD Securities Mark Zgutowicz - Rosenblatt Securities Paul Treiber - RBC Capital Markets Darren A ...

Shopify Inc. (NYSE:SHOP) Q2 2021 Earnings Conference Call July 28, 2021 8:30 AM ET Company Participants Katie Keita - Director of Investor Relations Harley Finkelstein - President Tobi Lutke - Chief Executive Officer Conference Call Participants Craig Maurer - Autonomous Research Thomas Forte - D.A. Davidson Ken Wong - Guggenheim Securities Siti Panigrahi - Mizuho Securities Trevor Young - Barclays Matt Pfau - William Blair Colin Sebastian - Baird Samad Samana - Jefferies Josh Beck - KeyBanc Capital Markets ...