Shopify Inc., a leading global commerce company, filed its interim financial statements for the second quarter ended June 30, 2024, with the Securities and Exchange Commission. The report, submitted in August 2024, includes a comprehensive overview of Shopify's financial performance, including balance sheets, statements of operations, and cash flows. The company reported a net income of $171 million for the quarter, a significant turnaround from the net loss of $1,311 million in the same period the previous year. The financial statements reveal an increase in revenues from subscription solutions and merchant solutions, contributing to a gross profit of $1,045 million. Operating expenses were significantly lower compared to the previous year, primarily due to the absence of impairment charges related to Shopify's logistics businesses. The...Show More

Shopify Inc., a leading global commerce company, filed its interim financial statements for the second quarter ended June 30, 2024, with the Securities and Exchange Commission. The report, submitted in August 2024, includes a comprehensive overview of Shopify's financial performance, including balance sheets, statements of operations, and cash flows. The company reported a net income of $171 million for the quarter, a significant turnaround from the net loss of $1,311 million in the same period the previous year. The financial statements reveal an increase in revenues from subscription solutions and merchant solutions, contributing to a gross profit of $1,045 million. Operating expenses were significantly lower compared to the previous year, primarily due to the absence of impairment charges related to Shopify's logistics businesses. The company's total assets stood at $11,346 million, with cash and cash equivalents increasing to $1,541 million from $1,413 million at the end of 2023. Shopify's shareholder equity also saw an increase, indicating a stronger financial position. The report also includes certifications by the CEO and CFO, as well as details on the company's stock-based compensation plans and the impact of foreign exchange rates on its financials.