40-F Filing

SHOPIFY INC. CIK: 1594805 FY 2017

Filing Information

Form Type	40-F
Accession Number	`0001594805-18-000009`
Period End Date	20171231
Filing Date	20180215
Fiscal Year	2017
Fiscal Period	FY
XBRL Instance	shop-20171231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 55 Income Statement 40 Cash Flow Statement 58 Stockholders Equity 16

Balance Sheet 55 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$141.68M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$110.07M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$84.01M	USD	Point-in-time
Marketable securities	`MarketableSecuritiesCurrent`	$796.36M	USD	Point-in-time
Marketable securities	`MarketableSecuritiesCurrent`	$308.40M	USD	Point-in-time
Trade and other receivables	`AccountsAndOtherReceivablesNetCurrent`	$9.60M	USD	Point-in-time
Trade and other receivables	`AccountsAndOtherReceivablesNetCurrent`	$21.94M	USD	Point-in-time
Merchant cash advances receivable, net	`NotesAndLoansReceivableNetCurrent`	$47.10M	USD	Point-in-time
Merchant cash advances receivable, net	`NotesAndLoansReceivableNetCurrent`	$11.90M	USD	Point-in-time
Other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$8.99M	USD	Point-in-time
Other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$18.60M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.03B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$422.90M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$50.36M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$45.72M	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$17.21M	USD	Point-in-time
Intangible assets, net	`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`	$20.32M	USD	Point-in-time
Total long term assets	`AssetsNoncurrent`	$67.66M	USD	Point-in-time
Total long term assets	`AssetsNoncurrent`	$87.89M	USD	Point-in-time
Total assets	`Assets`	$1.11B	USD	Point-in-time
Total assets	`Assets`	$490.56M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$62.58M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$45.06M	USD	Point-in-time
Current portion of deferred revenue	`DeferredRevenueCurrent`	$30.69M	USD	Point-in-time
Current portion of deferred revenue	`DeferredRevenueCurrent`	$20.16M	USD	Point-in-time
Current portion of lease incentives	`DeferredRentCreditCurrent`	$1.31M	USD	Point-in-time
Current portion of lease incentives	`DeferredRentCreditCurrent`	$1.48M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$94.75M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$66.53M	USD	Point-in-time
Deferred revenue	`DeferredRevenueNoncurrent`	$1.35M	USD	Point-in-time
Deferred revenue	`DeferredRevenueNoncurrent`	$922.00K	USD	Point-in-time
Lease incentives	`DeferredRentCreditNoncurrent`	$14.97M	USD	Point-in-time
Lease incentives	`DeferredRentCreditNoncurrent`	$12.63M	USD	Point-in-time
Deferred tax liability	`DeferredTaxLiabilities`	$1.39M	USD	Point-in-time
Deferred tax liability	`DeferredTaxLiabilities`	-	USD	Point-in-time
Total long term liabilities	`LiabilitiesNoncurrent`	$17.71M	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, 87,067,604 and 77,030,952 issued and outstanding; unlimited Class B multiple voting shares authorized, 12,810,084 and 12,374,528 issued and outstanding	`CommonStockValue`	$1.08B	USD	Point-in-time
Common stock, unlimited Class A subordinate voting shares authorized, 87,067,604 and 77,030,952 issued and outstanding; unlimited Class B multiple voting shares authorized, 12,810,084 and 12,374,528 issued and outstanding	`CommonStockValue`	$468.49M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$27.01M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$43.39M	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-1.82M	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$3.44M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-123.20M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-83.21M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$1.00B	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$195.32M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$410.48M	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$1.11B	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$490.56M	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
Subscription solutions	`LicenseAndServicesRevenue`	$310.03M	USD	Annual
Subscription solutions	`LicenseAndServicesRevenue`	$188.61M	USD	Annual
Merchant solutions	`SalesRevenueServicesGross`	$363.27M	USD	Annual
Merchant solutions	`SalesRevenueServicesGross`	$200.72M	USD	Annual
Total revenues	`SalesRevenueServicesNet`	$389.33M	USD	Annual
Total revenues	`SalesRevenueServicesNet`	$673.30M	USD	Annual
Subscription solutions	`CostOfServicesLicensesAndServices`	$61.27M	USD	Annual
Subscription solutions	`CostOfServicesLicensesAndServices`	$39.48M	USD	Annual
Merchant solutions	`OtherCostOfServices`	$140.36M	USD	Annual
Merchant solutions	`OtherCostOfServices`	$231.78M	USD	Annual
Total cost of revenues	`CostOfServices`	$293.05M	USD	Annual
Total cost of revenues	`CostOfServices`	$179.84M	USD	Annual
Gross profit	`GrossProfit`	$209.50M	USD	Annual
Gross profit	`GrossProfit`	$380.25M	USD	Annual
Sales and marketing	`SellingAndMarketingExpense`	$129.21M	USD	Annual
Sales and marketing	`SellingAndMarketingExpense`	$225.69M	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$136.00M	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$74.34M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$67.72M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$43.11M	USD	Annual
Total operating expenses	`OperatingExpenses`	$246.66M	USD	Annual
Total operating expenses	`OperatingExpenses`	$429.41M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-37.16M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-49.16M	USD	Annual
Interest income, net	`InterestIncomeExpenseNonoperatingNet`	$1.54M	USD	Annual
Interest income, net	`InterestIncomeExpenseNonoperatingNet`	$7.85M	USD	Annual
Foreign exchange gain	`ForeignCurrencyTransactionGainLossBeforeTax`	$274.00K	USD	Annual
Foreign exchange gain	`ForeignCurrencyTransactionGainLossBeforeTax`	$1.31M	USD	Annual
Total other income (expense)	`NonoperatingIncomeExpense`	$1.81M	USD	Annual
Total other income (expense)	`NonoperatingIncomeExpense`	$9.16M	USD	Annual
Net loss	`NetIncomeLoss`	$-35.35M	USD	Annual
Net loss	`NetIncomeLoss`	$-39.99M	USD	Annual
Unrealized gain (loss) on cash flow hedges	`OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax`	$5.25M	USD	Annual
Unrealized gain (loss) on cash flow hedges	`OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax`	$-1.82M	USD	Annual
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-37.17M	USD	Annual
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-34.74M	USD	Annual
Basic and diluted net loss per share attributable to shareholders (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.42	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`	95.77M	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`	$-35.35M	USD	Annual
Net loss for the year	`NetIncomeLoss`	$-39.99M	USD	Annual
Amortization and depreciation	`DepreciationDepletionAndAmortization`	$13.97M	USD	Annual
Amortization and depreciation	`DepreciationDepletionAndAmortization`	$23.38M	USD	Annual
Stock-based compensation	`StockOptionPlanExpense`	$22.90M	USD	Annual
Stock-based compensation	`StockOptionPlanExpense`	$49.16M	USD	Annual
Provision for uncollectible receivables related to merchant cash advances	`ProvisionForDoubtfulAccounts`	$2.61M	USD	Annual
Provision for uncollectible receivables related to merchant cash advances	`ProvisionForDoubtfulAccounts`	$1.03M	USD	Annual
Vesting of restricted shares	`RestrictedStockExpense`	-	USD	Annual
Vesting of restricted shares	`RestrictedStockExpense`	$202.00K	USD	Annual
Unrealized foreign exchange gain	`ForeignCurrencyTransactionGainLossUnrealized`	$1.60M	USD	Annual
Unrealized foreign exchange gain	`ForeignCurrencyTransactionGainLossUnrealized`	$969.00K	USD	Annual
Trade and other receivables	`IncreaseDecreaseInAccountsAndOtherReceivables`	$2.36M	USD	Annual
Trade and other receivables	`IncreaseDecreaseInAccountsAndOtherReceivables`	$13.04M	USD	Annual
Merchant cash advances receivable	`IncreaseDecreaseInFinanceReceivables`	$37.81M	USD	Annual
Merchant cash advances receivable	`IncreaseDecreaseInFinanceReceivables`	$12.92M	USD	Annual
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$3.71M	USD	Annual
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$2.60M	USD	Annual
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$19.81M	USD	Annual
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$15.43M	USD	Annual
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$10.96M	USD	Annual
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$7.70M	USD	Annual
Lease incentives	`IncreaseDecreaseinDeferredRentCredit`	$2.52M	USD	Annual
Lease incentives	`IncreaseDecreaseinDeferredRentCredit`	$2.62M	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$14.02M	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$7.90M	USD	Annual
Purchase of marketable securities	`PaymentsToAcquireMarketableSecurities`	$1.13B	USD	Annual
Purchase of marketable securities	`PaymentsToAcquireMarketableSecurities`	$369.21M	USD	Annual
Maturity of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$139.87M	USD	Annual
Maturity of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$642.07M	USD	Annual
Acquisitions of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$23.77M	USD	Annual
Acquisitions of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$20.04M	USD	Annual
Acquisitions of intangible assets	`PaymentsToAcquireIntangibleAssets`	$4.22M	USD	Annual
Acquisitions of intangible assets	`PaymentsToAcquireIntangibleAssets`	$2.46M	USD	Annual
Acquisition of businesses, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$14.11M	USD	Annual
Acquisition of businesses, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$15.72M	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-527.17M	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-269.69M	USD	Annual
Proceeds from the exercise of stock options	`ProceedsFromStockOptionsExercised`	$14.77M	USD	Annual
Proceeds from the exercise of stock options	`ProceedsFromStockOptionsExercised`	$4.16M	USD	Annual
Proceeds from public offering, net of issuance costs	`ProceedsFromIssuanceOfPreferredStockAndPreferenceStock`	$224.42M	USD	Annual
Proceeds from public offering, net of issuance costs	`ProceedsFromIssuanceOfPreferredStockAndPreferenceStock`	$560.06M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$574.83M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$228.59M	USD	Annual
Effect of foreign exchange on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$2.10M	USD	Annual
Effect of foreign exchange on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$1.03M	USD	Annual
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$57.66M	USD	Annual
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-26.06M	USD	Annual
Cash and cash equivalents Beginning of Year	`CashAndCashEquivalentsAtCarryingValue`	$141.68M	USD	Point-in-time
Cash and cash equivalents Beginning of Year	`CashAndCashEquivalentsAtCarryingValue`	$110.07M	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`	$141.68M	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`	$84.01M	USD	Point-in-time
Acquired property and equipment remaining unpaid	`CapitalExpendituresIncurredButNotYetPaid`	$1.76M	USD	Annual
Acquired property and equipment remaining unpaid	`CapitalExpendituresIncurredButNotYetPaid`	$587.00K	USD	Annual
Capitalized stock-based compensation	`EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount`	$649.00K	USD	Annual
Capitalized stock-based compensation	`EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount`	$1.37M	USD	Annual

Stockholders Equity 16 line items

Line Item	Tag	Value	Unit	Period
Shareholders' equity, beginning balance	`StockholdersEquity`	$1.00B	USD	Point-in-time
Shareholders' equity, beginning balance	`StockholdersEquity`	$195.32M	USD	Point-in-time
Shareholders' equity, beginning balance	`StockholdersEquity`	$410.48M	USD	Point-in-time
Exercise of stock options (in shares)	`StockIssuedDuringPeriodSharesStockOptionsExercised`	3.04M	shares	Annual
Exercise of stock options (in shares)	`StockIssuedDuringPeriodSharesStockOptionsExercised`	3.32M	shares	Annual
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$14.77M	USD	Annual
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$4.16M	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$23.55M	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$50.53M	USD	Annual
Issuance of Class A shares	`StockIssuedDuringPeriodValueNewIssues`	$224.42M	USD	Annual
Issuance of Class A shares	`StockIssuedDuringPeriodValueNewIssues`	$560.06M	USD	Annual
Net loss and comprehensive loss for the year	`ComprehensiveIncomeNetOfTax`	$-37.17M	USD	Annual
Net loss and comprehensive loss for the year	`ComprehensiveIncomeNetOfTax`	$-34.74M	USD	Annual
Shareholders' equity, ending balance	`StockholdersEquity`	$1.00B	USD	Point-in-time
Shareholders' equity, ending balance	`StockholdersEquity`	$195.32M	USD	Point-in-time
Shareholders' equity, ending balance	`StockholdersEquity`	$410.48M	USD	Point-in-time

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