Shopify Inc. (SHOP) Presents at Morgan Stanley's Technology, Media & Telecom Conference (Transcript)

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Shopify Inc. (NASDAQ:SHOP) Morgan Stanley's Technology, Media & Telecom Conference Call March 6, 2024 4:20 PM ET

Company Participants

Harley Finkelstein - President
Jeff Hoffmeister - Chief Financial Officer

Conference Call Participants

Keith Weiss - Morgan Stanley

Keith Weiss

Excellent. Thank you, everyone, for joining us. My name is Keith Weiss. I run the U.S. research -- software research franchise here at Morgan Stanley. And very pleased to have with us from Shopify, both President, Harley Finkelstein as well as CFO, Jeff Hoffmeister. So gentlemen, thank you for joining us. So this is year two of Jeff being onboard and...

Jeff Hoffmeister

15 months.

Harley Finkelstein

Let's not give him too much credit. Fifteen months. Not quite year two.

Keith Weiss

Year two of Jeff being on my conference.

Harley Finkelstein

That's right.

Jeff Hoffmeister

Yes. It is year two of the conference, yes.

Keith Weiss

I was looking back at my notes from last year's presentation where I basically asked Jeff about margins and then just ask you about Shopify Fulfillment Network for the rest of the presentation.

Jeff Hoffmeister

You did.

Keith Weiss

A lot's changed in that time.

Jeff Hoffmeister

No more SFN and margins are pretty good.

Question-and-Answer Session

Q - Keith Weiss

Exactly. Yes. And both improvements in my view. You guys talk about it in terms of like the new shape of Shopify. So maybe Harley, just to start with you. Can you give us a sort of an overview -- what do you guys mean by the new shape of Shopify? And maybe kind of talk through what happened over the past year and the position it's gotten you into today to really go after the opportunity?

Harley Finkelstein

Yes, I think when we were on the stage, which was about 12 months ago, I think

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