Shopify Inc. (NYSE:SHOP) Q1 2023 Earnings Call Transcript

Jeff Hoffmeister: Yes. Ken, I don’t have any specific guidance for you on this other than, obviously, what we said from a Q2 top line perspective. We’ve given a general sense for the size of the business in the past. I think, obviously, once we get — and part of this is just us figuring out when this closes in the quarter, and that will obviously allow us to give you a better perspective into the back half of the year. I think as it relates though just to Deliverr, obviously, that would be one piece of it. But keep in mind, kind of the flip side of all this in terms of all the great success we’re having with all the other products and kind of what we’re seeing, Harley, you talked about Markets and Markets Pro before tax, obviously, we talked in the call in the prepared remarks as it relates to our payments progress and the penetration we have there.

And all the things we’re doing from a geography perspective, particularly with strength in Europe, which has been really, really strong. So it is absolutely true. Obviously, the Deliverr will be coming out of the revenue stream for the company, but there’s a lot of other things that we’ve seen in terms of strong momentum, including — we had talked a little bit about the merchant adds. That is something which across the board. We’re seeing a lot of strength on Plus, on standard. And obviously, Harley just finished talking about CCS and enterprise. So we’re seeing strength really across all segments, all geographies of our business. And so while there will be some revenue loss from Deliverr, we feel really good about everything else going on in our business right now.

Harley Finkelstein: Just before we end, let me just reiterate this. Again, a tough day here at Shopify. Obviously, we’re seeing about the same team members that we’ve really enjoyed working with and it’s not — this is nothing that any leaders ever want have to do. But I can say, as I’m about to celebrate my 13th year at Shopify, this is the most optimistic and this is the most focused company that I’ve seen. The opportunities in the future for us are massive. And I think this new shape of the company, despite the fact that it’s a tough day for us, is exactly what we have to do to execute on that. And so I’m incredibly bullish on where we’re going, and I’m excited about the future for this company. This is — if you like what we’ve done in the past, you’re going to love what going do in the future.

Carrie Gillard: With that, this concludes our first quarter of 2023 conference call. Thank you for joining us. Goodbye.