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  "documentTitle": "Shopify | Investor Presentation Deck | 48 slides",
  "authorId": "shopify",
  "authorName": "Shopify",
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  "presentationDate": "2024-11-01 00:00:00",
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      "text": "Monthly Recurring Revenue from Q3 2019 to Q3 2024, showing growth from $51M to $175M with a 28% 5-Year CAGR.",
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            "x": "Q1 2023",
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            "x": "Q2 2023",
            "y": 135
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            "y": 137
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            "x": "Q4 2023",
            "y": 144
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      "text": "* Monthly Recurring Revenue, or MRR, is calculated at the end of each period by multiplying the number of merchants who have subscription plans with us at the period end date by the average monthly subscription plan fee in effect on the last day of that period, assuming they maintain their subscription plans the following month. In Q1 2024, Shopify revised the inclusion of paid trials in the calculation of MRR. Revised MRR for Q1 2023, Q2 2023, Q3 2023, and Q4 2023 were $114 million, $135 million, $137 million, $144 million, respectively.",
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      "text": "28% 5-Year CAGR",
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      "kind": "title",
      "text": "Monthly Recurring Revenue* continues to grow",
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