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10	10	* As of December 31, 2020, Shopify has approximately 1,749,000 merchants from approximately 175 countries using our platform.
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13		-Company Overview
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16	16	Shopify (NYSE:SHOP, TSX:SHOP)  is a leading global commerce company, providing trusted tools to start, grow, market, and manage a retail business of any size. Shopify makes commerce better for everyone with a platform and services that are engineered for reliability, while delivering a better shopping experience for consumers everywhere. Headquartered in Ottawa, Canada, Shopify powers over one million businesses in more than 175 countries and is trusted by brands such as Allbirds, Gymshark, Heinz, Staples and many more.{{footnote}}https://investors.shopify.com/resources/default.aspx#faq{{/footnote}}
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19	19	The Company was incorporated under the Canada Business Corporations Act (the "CBCA") on September 28, 2004 under the name 4261607 Canada Ltd. The company filed articles of amendment on January 19, 2006 to change its name to Jaded Pixel Technologies Inc., and again on November 30, 2011 to change its name to Shopify Inc. On April 12, 2013. The company's initial public offering occurred on May 20, 2015.
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22	22	A multi-channel front end. The company's software enables merchants to easily display, manage, and sell their products across over a dozen different sales channels, including web and mobile storefronts, physical retail locations, pop-up shops, social media storefronts, native mobile apps, buy buttons, and marketplaces. More than two-thirds of its merchants use two or more channels. The Shopify application program interface ("API") has been developed to support custom storefronts that let merchants sell anywhere, in any language.{{footnote}}https://s27.q4cdn.com/572064924/files/doc_financials/2020/ar/40-F.pdf{{/footnote}}
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28	28	A data advantage. The company's software is delivered to merchants as a service, and operates on a shared infrastructure. With each new transaction processed, the company grow its data proficiency. This cloud-based infrastructure not only relieves merchants from running and securing their own hardware, it also consolidates data generated by the interactions between buyers and merchants’ shops, as well as those of its merchants on the Shopify platform, providing rich data to inform both its own decisions as well as those of its merchants.
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31	31	== Merchants ==
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33	33	The company's mission is to make commerce better for everyone, and the company believe the company can help merchants of nearly all retail verticals and sizes, from aspirational entrepreneurs to large enterprises, realize their potential at all stages of their business life cycle. The company's marketing efforts primarily focus on selling to small and medium-sized businesses (“SMBs”) and entrepreneurs while its direct sales team addresses the needs of large merchants. The large majority of its merchants are on subscription plans that cost less than $50 per month, which is in line with its focus on providing cost-effective solutions for early stage businesses.
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85	85	* Adjusted net income4 for the second quarter of 2021 was $284.6 million, or $2.24 per diluted share, compared with adjusted net income of $129.4 million, or $1.05 per diluted share, for the second quarter of 2020.
86	86	* At June 30, 2021, Shopify had $7.76 billion in cash, cash equivalents and marketable securities, compared with $6.39 billion at December 31, 2020.
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89	89	== Outlook ==
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91	91	The company's outlook for the remainder of 2021 is consistent with its assumptions in February. Shopify has seen an improvement in the overall economic environment through the first half of 2021, consumer spending beginning to rotate back to services and off-line retail, and ecommerce growing at a more normalized pace relative to 2020.