Sentiment Analysis of the earnings transcript to help figure out if there are any bullish or bearish sentiments that could be gathered from it. We're doing ML and AI based analysis on the earnings call to get some more insights.
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| Statement |
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| Compare and contrasting to this time last year, investors are very confident in the ability of take rate to go up on the back of Shopify Fulfillment Networks |
| It's really, really good |
| On the base of an employee base that's not necessarily going to grow very much, which, to me, speaks to a lot of productivity gains |
| The sales force is continuing to get better and better, stronger every single -- like we're in a very good spot |
| What we've described today has been a Shopify position to continue to take share in an e-commerce category and a commerce category that continues to grow well |
| They're still very -- the SIs are focused on going to their client, which is the company, which is the merchant and saying, what is the best tech stack out there? What is best going to serve your -- we are extremely well positioned in that context |
| We think Shopify in particular is uniquely positioned to really benefit from this |
| We're able to grow top line, we're able to grow bottom line |
| Enterprise is doing great |
| I mean we think Shopify -- every company is going to benefit from this |
| So all in all, we're really happy with where we are |
| On the go-to-market, we're getting better at that really, really quickly, which is really positive |
| So we can do -- in the same way we did that for a small business, and I think we've done a good job in the medium size |
| I mean, it's quite remarkable |
| Your Q4 saw really strong results |
| And we think that we can actually do an even better job than we have done already going to these markets, France, Germany, Italy, Spain, obviously, the U.K., we've been really dominant for a while where we can help these retailers, these larger retailers sell cross-border right away |
| Those are brands that are beloved by consumers and we're very fortunate that all of those brands, for the most part, are powered by Shopify |
| In terms of things like the checkout for example, I mean, the 36% is really impressive |
| And obviously, Q4, it ended up really well for us |
| We're seeing great growth there as well |
| Subsequent to the spin out of Deliverr, operating margins improved markedly |
| Very cognizant that, that's a better performance than what we're seeing, what most merchants are seeing in Europe more broadly |
| We think we're doing -- and Harley alluded to this, we think we're doing a really good job of getting the best strongest performing merchants on the Shopify platform and making them even stronger |
| And I think we can do -- we can help merchants make better decisions faster, and we can also make the Shop app so much better so the consumer experience on there of navigating something they want to buy is just world-class |
| And so we saw an opportunity to really take advantage, and it was just a phenomenal opportunity |
| So we are just supporting the business that is doing exceptional things not only in North America but also in Europe |
| Retail, and we talked about it at the Investor Day, has just been performing phenomenally well |
| It continues to grow really well |
| And we're winning in these markets |
| And so these SIs have a great ability just to -- just highlight stuff |
| Statement |
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| That does have some headwinds for us in terms of margins |
| But also, to the extent that there's network cost changes or other things that would be a headwind as we do more with large enterprises, that's going to be a little bit of a headwind |
| You've given us some puts and takes at the Analyst Day, some pressures, some potential positives |
| We all thought a year ago, we were heading to a recession |
| One, it's a little difficult for us to understand the effective price increase |
| But we get worried about the investment necessary for distribution of building out an enterprise sales force and being able to sort of work with the partners |
| It's a little bit difficult for -- two questions for you |
| It doesn't really look like a recession, looks like a soft landing |
| I think one of the things that's tough from the outside and appreciate, we talk about within Shopify this term, merchant obsession |
| So we're going to underspend a little bit |
| But one of the things we saw on Standard, and we're seeing this thus far on this as well is there is a clear vote by the merchants and the value that they're getting from our platform significantly outstrips the cost |
| But there was something else sort of beneath, I think the numbers, which may be less obvious, which is there seems to be a real intentionality with consumers to buy brands they love |
| A couple of things had to happen |
| Like we've had -- and you followed us for a long time, Keith, you know as you think through the quarters last year, there were some quarters where we underspent on marketing because we looked at the LTV to CAC and we said this doesn't meet the thresholds we want |
| At the same time, it doesn't necessarily adversely affect anyone else who's in the pool, too |
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