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  "documentTitle": "Shopify | Investor Presentation Deck | 55 slides",
  "authorId": "shopify",
  "authorName": "Shopify",
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  "presentationDate": "2024-03-01 00:00:00",
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      "text": "Expressed in US millions $, except percentages",
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      "text": "GAAP Transaction and loan losses: 2019: 25, 2020: 52, 2021: 82, 2022: 135, 2023: 152, Q4'22: 34, Q4'23: 45\n% of Revenue: 2019: 2%, 2020: 2%, 2021: 2%, 2022: 2%, 2023: 2%, Q4'22: 2%, Q4'23: 2%\nGAAP Operating expenses: 2019: 1,007, 2020: 1,451, 2021: 2,213, 2022: 3,576, 2023: 4,933, Q4'22: 986, Q4'23: 773\nless: Operating SBC and related payroll taxes: 2019: 173, 2020: 286, 2021: 389, 2022: 554, 2023: 463, Q4'22: 143, Q4'23: 102\nless: Accelerated stock-based compensation: 2019: -, 2020: -, 2021: -, 2022: -, 2023: 169, Q4'22: -, Q4'23: -\nless: Amortization of acquired intangibles: 2019: 1, 2020: 2, 2021: 2, 2022: 5, 2023: 3, Q4'22: 2, Q4'23: -\nless: Impairment of right-of-use assets and leasehold improvements: 2019: -, 2020: 32, 2021: 30, 2022: 84, 2023: 38, Q4'22: 84, Q4'23: -\nless: Severance related costs: 2019: -, 2020: -, 2021: -, 2022: 30, 2023: 148, Q4'22: -, Q4'23: -\nless: Litigation contingencies: 2019: -, 2020: -, 2021: -, 2022: 97, 2023: -, Q4'22: -, Q4'23: -\nless: Impairment on sale of Shopify's logistics businesses: 2019: -, 2020: -, 2021: -, 2022: -, 2023: 1,340, Q4'22: -, Q4'23: -\nAdjusted Operating expenses: 2019: 833, 2020: 1,131, 2021: 1,792, 2022: 2,806, 2023: 2,772, Q4'22: 757, Q4'23: 671\n% of Revenue: 2019: 53%, 2020: 39%, 2021: 39%, 2022: 50%, 2023: 39%, Q4'22: 44%, Q4'23: 31%",
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