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  "docSlug": "67c2d3d03ecb62e8c44a28150a7cef5b",
  "documentTitle": "Shopify | Investor Presentation Deck | 42 slides",
  "authorId": "shopify",
  "authorName": "Shopify",
  "documentKindSlug": "pitchdeck",
  "documentKindLabel": "Pitch deck",
  "sourceTypeSlug": "investor_relations",
  "sourceTypeLabel": "Investor relations",
  "presentationDate": "2023-02-01 00:00:00",
  "orientation": "landscape",
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  "pageNumber": 31,
  "pageCount": 42,
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  "density": "dense",
  "nDataPoints": 40,
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      "kind": "chart",
      "text": "2019: 28%, 16%, 8%, 2%, Total 53%\n2020: 19%, 12%, 6%, 2%, Total 39%\n2021: 18%, 13%, 5%, 2%, Total 39%\n2022: 21%, 20%, 8%, 2%, Total 50%\nQ1 2022: 24%, 18%, 7%, 2%, Total 51%\nQ2 2022: 24%, 19%, 8%, 3%, Total 55%\nQ3 2022: 20%, 22%, 9%, 3%, Total 53%\nQ4 2022: 16%, 19%, 6%, 2%, Total 44%",
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      "kind": "list",
      "text": "Research and development\nSales and marketing\nGeneral and administrative\nTransaction and loan losses\nTotal adjusted opex as a percentage of revenue",
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      },
      "kind": "source-note",
      "text": "Chart depicts operating leverage, which is measured using Adjusted Operating Expenses (Opex) as a percentage of revenue. Excludes the effect of stock-based compensation expenses and related payroll taxes, amortization of acquired intangibles, employee severance, expense related to legal contingencies, real estate-related impairment charges, and impairment of right-of-use assets and leasehold improvements. Adjusted Operating Expenses is a non-GAAP measure, see Appendix for reconciliation. Numbers may not foot due to rounding.",
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      "kind": "title",
      "text": "Exited 2022 with an increased focus on operational efficiency",
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      "evidence": "chart/bar-stacked: 2019: 28%, 16%, 8%, 2%, Total 53% 2020: 19%, 12%, 6%, 2%, Total 39% 2021: 18%, 13%, 5%, 2%, Total 39% 2022: 21%, 20%, 8%, 2%, Total 50%",
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      "arcName": "The Sparkline",
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      "evidence": "The deck presents Shopify's current financial performance, including revenue growth and profitability.",
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      "name": "Golden Circle",
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      "bestFor": "Visionary leadership, brand positioning, mission statements",
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      "evidence": "The deck uses the golden circle framework to present Shopify's why (mission), how (solution), and what (financial performance).",
      "position": 0,
      "objective": "Why Shopify's mission is important for the future of commerce",
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      "description": "Invert the typical pitch by starting with why you exist, rather than what you do"
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