SHOPIFY INC
For the period ended Mar 31, 2025. Filed May 8, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2025 · Filed May 8, 2025
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5. Trade and Other Receivables
- Trade and Other Receivables
Trade receivables and unbilled revenues, net of allowance for credit losses, were as follows:
| March 31, 2025 | December 31, 2024 | |
|---|---|---|
| (in US $ millions) | ||
| Unbilled revenues, net | 157 | 175 |
| Trade receivables, net | 71 | 77 |
| Indirect taxes receivable | 35 | 49 |
| Other receivables | 24 | 22 |
| Accrued interest | 10 | 19 |
| 297 | 342 | |
Unbilled revenues represent amounts not yet billed related to partner referral fees, subscription fees for Plus merchants, shipping charges and transaction fees as of the condensed consolidated balance sheet date.
The allowance for credit losses reflects the Company's best estimate of probable losses inherent in the unbilled revenues and trade receivables accounts. The Company determined the provision based on known troubled accounts, historical experience, supportable forecasts of collectibility and other currently available evidence.
Activity in the allowance for credit losses was as follows for the three months ended:
| March 31, 2025 | March 31, 2024 | |
|---|---|---|
| (in US $ millions) | ||
| Balance, beginning of the period | 16 | 13 |
| Provision for credit losses related to uncollectible receivables | 7 | 6 |
| Write-offs | (7) | (3) |
| Balance, end of the period | 16 | 16 |
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