40-F Filing

SHOPIFY INC. CIK: 1594805 FY 2016

Filing Information

Form Type	40-F
Accession Number	`0001594805-17-000007`
Period End Date	20161231
Filing Date	20170215
Fiscal Year	2016
Fiscal Period	FY
XBRL Instance	shop-20161231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 53 Income Statement 40 Cash Flow Statement 58 Stockholders Equity 17

Balance Sheet 53 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$110.07M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$41.95M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$84.01M	USD	Point-in-time
Marketable securities	`MarketableSecuritiesCurrent`	$80.10M	USD	Point-in-time
Marketable securities	`MarketableSecuritiesCurrent`	$308.40M	USD	Point-in-time
Trade and other receivables	`AccountsAndOtherReceivablesNetCurrent`	$6.09M	USD	Point-in-time
Trade and other receivables	`AccountsAndOtherReceivablesNetCurrent`	$9.60M	USD	Point-in-time
Merchant cash advances receivable, net	`NotesAndLoansReceivableNetCurrent`	$11.90M	USD	Point-in-time
Merchant cash advances receivable, net	`NotesAndLoansReceivableNetCurrent`	-	USD	Point-in-time
Other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$8.99M	USD	Point-in-time
Other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$6.20M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$202.47M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$422.90M	USD	Point-in-time
Property and equipment	`PropertyPlantAndEquipmentNet`	$33.05M	USD	Point-in-time
Property and equipment	`PropertyPlantAndEquipmentNet`	$45.72M	USD	Point-in-time
Intangible assets	`FiniteLivedIntangibleAssetsNet`	$5.83M	USD	Point-in-time
Intangible assets	`FiniteLivedIntangibleAssetsNet`	$6.44M	USD	Point-in-time
Goodwill	`Goodwill`	$15.50M	USD	Point-in-time
Goodwill	`Goodwill`	$2.37M	USD	Point-in-time
Goodwill	`Goodwill`	$2.37M	USD	Point-in-time
Total long term assets	`AssetsNoncurrent`	$41.25M	USD	Point-in-time
Total long term assets	`AssetsNoncurrent`	$67.66M	USD	Point-in-time
Total assets	`Assets`	$243.71M	USD	Point-in-time
Total assets	`Assets`	$490.56M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$23.69M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$45.06M	USD	Point-in-time
Current portion of deferred revenue	`DeferredRevenueCurrent`	$12.73M	USD	Point-in-time
Current portion of deferred revenue	`DeferredRevenueCurrent`	$20.16M	USD	Point-in-time
Current portion of lease incentives	`DeferredRentCreditCurrent`	$822.00K	USD	Point-in-time
Current portion of lease incentives	`DeferredRentCreditCurrent`	$1.31M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$66.53M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$37.24M	USD	Point-in-time
Deferred revenue	`DeferredRevenueNoncurrent`	$661.00K	USD	Point-in-time
Deferred revenue	`DeferredRevenueNoncurrent`	$922.00K	USD	Point-in-time
Lease incentives	`DeferredRentCreditNoncurrent`	$10.50M	USD	Point-in-time
Lease incentives	`DeferredRentCreditNoncurrent`	$12.63M	USD	Point-in-time
Total long term liabilities	`LiabilitiesNoncurrent`	$11.16M	USD	Point-in-time
Total long term liabilities	`LiabilitiesNoncurrent`	$13.55M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, unlimited Class A subordinate voting shares authorized, 77,030,952 and 56,877,089 issued and outstanding; unlimited Class B multiple voting shares authorized, 12,374,528 and 23,212,769 issued and outstanding	`CommonStockValue`	$231.45M	USD	Point-in-time
Common stock, unlimited Class A subordinate voting shares authorized, 77,030,952 and 56,877,089 issued and outstanding; unlimited Class B multiple voting shares authorized, 12,374,528 and 23,212,769 issued and outstanding	`CommonStockValue`	$468.49M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$11.72M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$27.01M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-1.82M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	-	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-83.21M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-47.85M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$67.73M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$410.48M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$195.32M	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$490.56M	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$243.71M	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
Subscription solutions	`LicenseAndServicesRevenue`	$188.61M	USD	Annual
Subscription solutions	`LicenseAndServicesRevenue`	$111.98M	USD	Annual
Merchant solutions	`SalesRevenueServicesGross`	$93.25M	USD	Annual
Merchant solutions	`SalesRevenueServicesGross`	$200.72M	USD	Annual
Total revenues	`SalesRevenueServicesNet`	$389.33M	USD	Annual
Total revenues	`SalesRevenueServicesNet`	$205.23M	USD	Annual
Subscription solutions	`CostOfServicesLicensesAndServices`	$24.53M	USD	Annual
Subscription solutions	`CostOfServicesLicensesAndServices`	$39.48M	USD	Annual
Merchant solutions	`OtherCostOfServices`	$140.36M	USD	Annual
Merchant solutions	`OtherCostOfServices`	$67.45M	USD	Annual
Total cost of revenues	`CostOfServices`	$91.98M	USD	Annual
Total cost of revenues	`CostOfServices`	$179.84M	USD	Annual
Gross profit	`GrossProfit`	$113.25M	USD	Annual
Gross profit	`GrossProfit`	$209.50M	USD	Annual
Sales and marketing	`SellingAndMarketingExpense`	$129.21M	USD	Annual
Sales and marketing	`SellingAndMarketingExpense`	$70.37M	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$39.72M	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$74.34M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$20.91M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$43.11M	USD	Annual
Total operating expenses	`OperatingExpenses`	$131.01M	USD	Annual
Total operating expenses	`OperatingExpenses`	$246.66M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-17.76M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-37.16M	USD	Annual
Interest income, net	`InterestIncomeExpenseNonoperatingNet`	$1.54M	USD	Annual
Interest income, net	`InterestIncomeExpenseNonoperatingNet`	$200.00K	USD	Annual
Foreign exchange gain (loss)	`ForeignCurrencyTransactionGainLossBeforeTax`	$274.00K	USD	Annual
Foreign exchange gain (loss)	`ForeignCurrencyTransactionGainLossBeforeTax`	$-1.23M	USD	Annual
Total other income (expense)	`NonoperatingIncomeExpense`	$-1.03M	USD	Annual
Total other income (expense)	`NonoperatingIncomeExpense`	$1.81M	USD	Annual
Net loss	`NetIncomeLoss`	$-18.79M	USD	Annual
Net loss	`NetIncomeLoss`	$-35.35M	USD	Annual
Unrealized loss on cash flow hedges	`OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax`	$-1.82M	USD	Annual
Unrealized loss on cash flow hedges	`OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax`	-	USD	Annual
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-18.79M	USD	Annual
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-37.17M	USD	Annual
Basic and diluted net loss per share attributable to shareholders (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.30	USD	Annual
Basic and diluted net loss per share attributable to shareholders (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.42	USD	Annual
Weighted average shares used to compute basic and diluted net loss per share attributable to shareholders (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	61.72M	shares	Annual
Weighted average shares used to compute basic and diluted net loss per share attributable to shareholders (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	83.99M	shares	Annual

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net loss for the year	`NetIncomeLoss`	$-18.79M	USD	Annual
Net loss for the year	`NetIncomeLoss`	$-35.35M	USD	Annual
Amortization and depreciation	`DepreciationDepletionAndAmortization`	$7.24M	USD	Annual
Amortization and depreciation	`DepreciationDepletionAndAmortization`	$13.97M	USD	Annual
Stock-based compensation	`StockOptionPlanExpense`	$22.90M	USD	Annual
Stock-based compensation	`StockOptionPlanExpense`	$7.80M	USD	Annual
Vesting of restricted shares	`RestrictedStockExpense`	$202.00K	USD	Annual
Vesting of restricted shares	`RestrictedStockExpense`	$353.00K	USD	Annual
Unrealized foreign exchange (gain) loss	`ForeignCurrencyTransactionGainLossUnrealized`	$969.00K	USD	Annual
Unrealized foreign exchange (gain) loss	`ForeignCurrencyTransactionGainLossUnrealized`	$-1.83M	USD	Annual
Trade and other receivables	`IncreaseDecreaseInAccountsAndOtherReceivables`	$2.36M	USD	Annual
Trade and other receivables	`IncreaseDecreaseInAccountsAndOtherReceivables`	$-1.18M	USD	Annual
Merchant cash advances receivable, net	`IncreaseDecreaseInFinanceReceivables`	-	USD	Annual
Merchant cash advances receivable, net	`IncreaseDecreaseInFinanceReceivables`	$11.90M	USD	Annual
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$2.60M	USD	Annual
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$4.71M	USD	Annual
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$11.10M	USD	Annual
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$19.81M	USD	Annual
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$7.70M	USD	Annual
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$6.22M	USD	Annual
Lease incentives	`IncreaseDecreaseinDeferredRentCredit`	$2.62M	USD	Annual
Lease incentives	`IncreaseDecreaseinDeferredRentCredit`	$3.54M	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$14.02M	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$15.76M	USD	Annual
Purchase of marketable securities	`PaymentsToAcquireMarketableSecurities`	$369.21M	USD	Annual
Purchase of marketable securities	`PaymentsToAcquireMarketableSecurities`	$111.15M	USD	Annual
Maturity of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$48.35M	USD	Annual
Maturity of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$139.87M	USD	Annual
Acquisitions of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$16.52M	USD	Annual
Acquisitions of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$23.77M	USD	Annual
Acquisitions of intangible assets	`PaymentsToAcquireIntangibleAssets`	$2.46M	USD	Annual
Acquisitions of intangible assets	`PaymentsToAcquireIntangibleAssets`	$4.51M	USD	Annual
Acquisition of businesses, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$14.11M	USD	Annual
Acquisition of businesses, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	-	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-269.69M	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-83.84M	USD	Annual
Proceeds from initial public offering, net of issuance costs	`ProceedsFromIssuanceInitialPublicOffering`	$136.25M	USD	Annual
Proceeds from initial public offering, net of issuance costs	`ProceedsFromIssuanceInitialPublicOffering`	-	USD	Annual
Proceeds from the exercise of stock options	`ProceedsFromStockOptionsExercised`	$4.16M	USD	Annual
Proceeds from the exercise of stock options	`ProceedsFromStockOptionsExercised`	$1.60M	USD	Annual
Proceeds from follow-on public offering, net of issuance costs	`ProceedsFromIssuanceOfPreferredStockAndPreferenceStock`	-	USD	Annual
Proceeds from follow-on public offering, net of issuance costs	`ProceedsFromIssuanceOfPreferredStockAndPreferenceStock`	$224.42M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$137.85M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$228.59M	USD	Annual
Effect of foreign exchange on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$1.03M	USD	Annual
Effect of foreign exchange on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-1.65M	USD	Annual
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-26.06M	USD	Annual
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$68.12M	USD	Annual
Cash and cash equivalents Beginning of Year	`CashAndCashEquivalentsAtCarryingValue`	$110.07M	USD	Point-in-time
Cash and cash equivalents Beginning of Year	`CashAndCashEquivalentsAtCarryingValue`	$41.95M	USD	Point-in-time
Cash and cash equivalents Beginning of Year	`CashAndCashEquivalentsAtCarryingValue`	$84.01M	USD	Point-in-time
Cash and cash equivalents End of Year	`CashAndCashEquivalentsAtCarryingValue`	$110.07M	USD	Point-in-time
Cash and cash equivalents End of Year	`CashAndCashEquivalentsAtCarryingValue`	$41.95M	USD	Point-in-time
Cash and cash equivalents End of Year	`CashAndCashEquivalentsAtCarryingValue`	$84.01M	USD	Point-in-time
Acquired property and equipment remaining unpaid	`CapitalExpendituresIncurredButNotYetPaid`	$587.00K	USD	Annual
Acquired property and equipment remaining unpaid	`CapitalExpendituresIncurredButNotYetPaid`	$1.29M	USD	Annual
Capitalized stock-based compensation	`EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount`	$362.00K	USD	Annual
Capitalized stock-based compensation	`EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount`	$649.00K	USD	Annual

Stockholders Equity 17 line items

Line Item	Tag	Value	Unit	Period
Shareholders' equity, beginning balance	`StockholdersEquity`	$67.73M	USD	Point-in-time
Shareholders' equity, beginning balance	`StockholdersEquity`	$410.48M	USD	Point-in-time
Shareholders' equity, beginning balance	`StockholdersEquity`	$195.32M	USD	Point-in-time
Exercise of stock options (in shares)	`StockIssuedDuringPeriodSharesStockOptionsExercised`	3.04M	shares	Annual
Exercise of stock options (in shares)	`StockIssuedDuringPeriodSharesStockOptionsExercised`	4.67M	shares	Annual
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$4.16M	USD	Annual
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$1.60M	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$23.55M	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$8.17M	USD	Annual
Issuance of Class A shares	`StockIssuedDuringPeriodValueNewIssues`	$224.42M	USD	Annual
Issuance of Class A shares	`StockIssuedDuringPeriodValueNewIssues`	$136.25M	USD	Annual
Conversion of preferred shares to Class B multiple voting shares	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	-	USD	Annual
Net loss and comprehensive loss for the year	`ComprehensiveIncomeNetOfTax`	$-18.79M	USD	Annual
Net loss and comprehensive loss for the year	`ComprehensiveIncomeNetOfTax`	$-37.17M	USD	Annual
Shareholders' equity, ending balance	`StockholdersEquity`	$67.73M	USD	Point-in-time
Shareholders' equity, ending balance	`StockholdersEquity`	$410.48M	USD	Point-in-time
Shareholders' equity, ending balance	`StockholdersEquity`	$195.32M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.