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  "documentTitle": "Shopify | Results Presentation Deck | 32 slides",
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  "authorName": "Shopify",
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  "presentationDate": "2023-11-01 00:00:00",
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      "kind": "list",
      "text": "Stock-based compensation\nQ4/23 stock-based compensation to be approximately $100M",
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      "text": "Revenue\nFY/23: Revenue for the full year to grow at a mid-twenties percentage rate on a YoY basis\nQ4/23: Q4 revenue growth to be in the high-teens YoY, which translates into a YoY growth rate in the low-to-mid-twenties when excluding the 400-500 basis points impact from the sales of our logistics businesses",
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      "text": "Capital expenditures\nFY/23: Expect to be approximately $45M",
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      "text": "Sale of logistics businesses\nQ4 Revenue: Approx. 400 - 500 basis points impact\nQ4 Gross margin: Approx. 300 - 400 basis points tailwind",
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      "text": "Gross margin\nQ4/23 gross margin rate to be 300 to 400 basis points higher than Q4/22 gross margin of 46.0%",
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      "text": "Free cash flow\nQ4/23 free cash flow margin to be in the high-teens, delivering free cash flow dollars and margin that is greater than our Q3/23 free cash flow and margin",
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      "text": "Operating expense\nQ4/23 operating expense dollars will be down by a low-single digit percentage rate versus Q3/23 operating expense dollars",
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      "text": "Additional commentary\nrelated to Q4 2023",
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      "text": "2023 Outlook Considerations",
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