Shopify(SHOP) - 2023 Q2 - Quarterly Report

EXHIBIT 99.2 MANAGEMENT’S DISCUSSION AND ANALYSIS August 3, 2023 In this Management's Discussion and Analysis ("MD&A"), "we", "us", "our", "Shopify" and "the Company" refer to Shopify Inc. and its consolidated subsidiaries, unless the context requires otherwise. In this MD&A, we explain Shopify's results of operations and cash flows for the three and six months ended June 30, 2023 and 2022, and our financial position as of June 30, 2023. You should read this MD&A together with our unaudited condensed consol ...