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  "authorName": "Shopify",
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  "presentationDate": "2023-05-01 00:00:00",
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      "text": "Revenue\nQ2/23 revenue to grow at a similar rate to Q1/23 on a year-over-year basis\nGross margin\nQ2/23 gross margin rate to be similar to Q1/23 gross margin rate\nOperating expense\nQ2/23 operating expenses decrease a mid-single digit percentage vs our Q1/23 operating expenses, excluding expected one-time charges\nStock-based compensation\nQ2/23 stock-based compensation to approximately $110 million, excluding one time charges related to the sale of our logistics business\nFree cash flow\nExpect to achieve free cash flow profitability for each quarter of 2023\nCapital expenditures\nExpect to be approximately $100M for the full year 2023",
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      "text": "Macroeconomic backdrop\nOur perspective on the rest of the year remains cautious and assumes that inflation remains elevated, which may pressure consumer spending\nOutlook considerations\nQ2/23\n$1B - $1.5B impairment charge\n$140M-$150M severance charge\n2H/23:\nExpect more of the benefit from pending sale of logistics businesses and workforce reduction to materialize\nIncremental investment in key themes",
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      "text": "Additional commentary related to Q2 2023",
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      "text": "* Free cash flow is defined as cash from operations less capital expenditures",
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      "text": "Q2 2023 outlook considerations",
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