Shopify Inc., a leading global commerce company, filed its interim financial statements for the first quarter ended March 31, 2024, with the Securities and Exchange Commission (SEC) in May 2024. The report indicates a net loss of $273 million for the quarter, a significant downturn compared to the net income of $68 million reported in the same period the previous year. The company's total assets decreased from $11.3 billion at the end of December 2023 to $11.1 billion as of March 31, 2024. Despite the net loss, Shopify's revenues increased from $1.5 billion in Q1 2023 to $1.86 billion in Q1 2024. The loss was primarily due to a net unrealized loss on equity and other investments of $373 million. The company's cash and cash equivalents rose from $1.4 billion to $1.6 billion, and operating activities generated $238 million in cash, up from $100 million in the prior year. The financial statements were prepared in accordance with U.S. GAAP and are unaudited.

Shopify Inc., a leading global commerce company, filed its interim financial statements for the first quarter ended March 31, 2024, with the Securities and Exchange Commission (SEC) in May 2024. The report indicates a net loss of $273 million for the quarter, a significant downturn compared to the net income of $68 million reported in the same period the previous year. The company's total assets decreased from $11.3 billion at the end of December 2023 to $11.1 billion as of March 31, 2024. Despite the net loss, Shopify's revenues increased from $1.5 billion in Q1 2023 to $1.86 billion in Q1 2024. The loss was primarily due to a net unrealized loss on equity and other investments of $373 million. The company's cash and cash equivalents rose from $1.4 billion to $1.6 billion, and operating activities generated $238 million in cash, up from $100 million in the prior year. The financial statements were prepared in accordance with U.S. GAAP and are unaudited.