"If you look at our 7 years since IPO, we were profitable 5 out of the 7." -Harley Finkelstein (4Q'22 Call) Except that's not true! Shopify was profitable only 2 out of 7 years since IPO. Perhaps he was adding back SBC? You can add back SBC if you want, but you cannot add back SBC and then define it as "profitable".
Shopify 4Q'22 Earnings Update
Shopify 4Q'22 Earnings Update
Shopify 4Q'22 Earnings Update
"If you look at our 7 years since IPO, we were profitable 5 out of the 7." -Harley Finkelstein (4Q'22 Call) Except that's not true! Shopify was profitable only 2 out of 7 years since IPO. Perhaps he was adding back SBC? You can add back SBC if you want, but you cannot add back SBC and then define it as "profitable".