7Baggers
Quarterly
Annual
    Unit: USD2025-12-31 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-03-31 2021-12-31 2021-09-30 2021-03-31 2020-12-31 2020-09-30 2020-03-31 2019-12-31 2019-09-30 2019-03-31 2018-12-31 2018-09-30 2018-03-31 2017-12-31 2017-09-30 2017-06-30 2017-03-31 2016-12-31 2016-09-30 2016-06-30 2016-03-31 2015-12-31 2015-09-30 
                                         
      cash flows from operating activities
    		                                     
      net income for the year
    		                                     
      adjustments to reconcile net income to net cash from operating activities:
    		                                     
      amortization and depreciation
    		23,000,000 0 0 8,000,000 28,000,000 -2,000,000 0 10,000,000 -3,000,000 -4,000,000 -12,000,000 29,000,000 29,822,000 27,625,000 16,670,000 22,241,000 13,604,000 15,800,000 17,893,000 17,870,000 14,366,000 12,701,000 8,743,000 6,832,000 5,848,000 6,196,000 7,582,000 7,758,000 5,737,000 5,353,000 4,534,000 4,440,000 3,693,000 2,776,000 3,058,000 2,202,000 1,909,000 
      stock-based compensation
    		342,000,000 -6,000,000 -1,000,000 114,000,000 320,000,000 4,000,000 1,000,000 105,000,000 -4,000,000 -178,000,000 145,000,000 135,000,000 141,744,000 149,990,000 117,989,000 98,309,000 81,340,000 69,156,000 67,057,000 63,807,000 53,752,000 47,992,000 40,032,000 31,164,000 27,419,000 26,185,000 17,925,000 14,978,000 13,377,000 11,601,000 9,207,000 8,062,000 6,459,000 5,001,000 3,374,000 2,793,000 2,182,000 
      impairment of right-of-use assets and leasehold improvements
    		10,000,000 -7,000,000              0   0 0                  
      provision for transaction and loan losses
    		128,000,000 58,000,000 1,000,000 43,000,000 106,000,000 16,000,000 -2,000,000 28,000,000 21,000,000 -7,000,000 -13,000,000 28,000,000 20,042,000 21,489,000 9,805,000 18,058,000 10,868,000 4,236,000 7,328,000 7,914,000 6,103,000                 
      deferred income tax (recovery) expense
    		-9,000,000   -129,000,000         -5,341,000 -825,000 -184,214,000                       
      revenue related to non-cash consideration
    		-37,000,000 0 1,000,000 -13,000,000 -75,000,000 2,000,000 14,000,000 -35,000,000 1,000,000 3,000,000 9,000,000 -48,000,000 -34,956,000 -32,882,000 -26,081,000 -20,955,000 -19,304,000                     
      impairment on sales of shopify's logistics businesses
    		                                     
      net loss on equity and other investments
    		91,000,000 744,000,000 -1,703,000,000 1,021,000,000   -297,000,000 373,000,000 187,000,000 -274,000,000 -66,000,000 -215,000,000 475,389,000 -168,838,000 1,593,655,000                       
      net loss on equity method investment
    		19,000,000 -3,000,000 1,000,000 23,000,000 110,000,000 -16,000,000 0 44,000,000 38,000,000                             
      realized loss on embedded derivative
    		                                     
      unrealized foreign exchange loss
    		-61,000,000 50,000,000 -34,000,000 -12,000,000 38,000,000   6,000,000 -20,000,000 7,000,000   -14,246,000 10,008,000 6,322,000 829,000 2,290,000 1,734,000 -503,000 45,000 -3,779,000 777,000 487,000 60,000 635,000 268,000      118,000 74,000 -183,000 -978,000 321,000 471,000 
      changes in operating assets and liabilities
    		 -35,000,000 -29,000,000 -6,000,000  26,000,000 -51,000,000 -21,000,000 51,000,000 -121,000,000 -10,000,000 104,000,000                          
      trade and other receivables
    		            -29,135,000 -19,731,000 -31,291,000 -42,033,000 -2,861,000 -39,063,000 -8,093,000 -2,073,000 -2,378,000 -31,028,000 -4,613,000 -10,551,000 -10,125,000 -6,098,000 -8,161,000 -4,336,000 -5,723,000 -3,535,000 557,000       
      merchant cash advances and related receivables
    		                                     
      other current and long-term assets
    		                                     
      accounts payable and accrued liabilities
    		            -60,406,000 136,042,000 -44,024,000 98,783,000 49,554,000 39,756,000 32,521,000 24,408,000 30,621,000 30,678,000 -2,023,000 33,912,000 -23,562,000 16,918,000 11,571,000 235,000 4,598,000 1,759,000 8,836,000       
      deferred revenue
    		            11,107,000 206,720,000 80,640,000 22,343,000 79,159,000 8,327,000 8,958,000 45,536,000 5,804,000 3,276,000 2,684,000 3,696,000 2,330,000 2,068,000 2,427,000 2,098,000 3,052,000 2,688,000 3,122,000       
      net cash from operating activities
    		1,520,000,000 85,000,000 61,000,000 367,000,000 1,193,000,000 83,000,000 102,000,000 238,000,000 170,000,000 160,000,000 18,000,000 100,000,000 255,385,000 -214,106,000 -53,560,000 260,458,000 41,866,000  245,366,000 99,357,000  52,888,000   9,257,000   18,995,000 -6,235,000 -8,858,000 3,999,000 6,715,000 1,097,000 5,550,000 655,000 4,957,000 158,000 
      capital expenditures
    		-20,000,000 0 -2,000,000 -4,000,000 0 0 0 0 0 0 -7,000,000 -14,000,000 -7,624,000 -13,905,000 -15,940,000 -25,975,000 -11,362,000  -6,356,000 -10,048,000  -13,402,000   -7,518,000   -10,785,000 -3,968,000 -2,657,000 -2,633,000 -8,487,000 -5,229,000 -7,342,000 -2,715,000 -5,158,000 0 
      free cash flows
    		1,500,000,000 85,000,000 59,000,000 363,000,000 1,193,000,000 83,000,000 102,000,000 238,000,000 170,000,000 160,000,000 11,000,000 86,000,000 247,761,000 -228,011,000 -69,500,000 234,483,000 30,504,000  239,010,000 89,309,000  39,486,000   1,739,000   8,210,000 -10,203,000 -11,515,000 1,366,000 -1,772,000 -4,132,000 -1,792,000 -2,060,000 -201,000 158,000 
      cash flows from investing activities
    		                                     
      purchases of property and equipment
    		-20,000,000 0 -2,000,000 -4,000,000                                  
      purchases of marketable securities
    		-5,580,000,000 4,000,000 254,000,000 -1,718,000,000 -6,310,000,000 -252,000,000 303,000,000 -2,137,000,000                              
      maturities of marketable securities
    		4,596,000,000 492,000,000 133,000,000 1,331,000,000 5,620,000,000 174,000,000 -484,000,000 2,147,000,000                              
      purchases and originations of loans
    		-3,018,000,000 -52,000,000 -139,000,000 -805,000,000 -2,162,000,000 -134,000,000 -135,000,000 -575,000,000 1,000,000 -71,000,000 -108,000,000 -349,000,000                          
      repayments and sales of loans
    		2,586,000,000 82,000,000 130,000,000 637,000,000 1,914,000,000 34,000,000 49,000,000 545,000,000                              
      purchases of equity and other investments
    		-91,000,000 63,000,000 -67,000,000 -4,000,000                                  
      acquisition of businesses, net of cash acquired
    		           -31,000,000 0 -1,723,740,000  -9,827,000      -253,036,000 0 -5,715,000 -15,679,000 0  0 0         
      other
    		    2,000,000 -1,000,000    16,000,000                            
      net cash from investing activities
    		-1,525,000,000 587,000,000 367,000,000 -619,000,000 -1,112,000,000 -50,000,000 -397,000,000 -27,000,000 260,000,000 -333,000,000 -254,000,000 -19,000,000 1,995,000 -1,748,881,000 -4,195,000 20,113,000 -240,672,000  -661,282,000 -933,441,000        -1,619,000 -77,916,000 -457,938,000 10,303,000 -110,860,000 -107,608,000 -22,434,000 -28,784,000 -11,239,000 -31,079,000 
      cash flows from financing activities
    		                                     
      proceeds from the exercise of stock options
    		208,000,000 -20,000,000 -15,000,000 59,000,000 55,000,000 3,000,000 0 3,000,000 6,000,000 -15,000,000 20,000,000 6,000,000 6,292,000 3,420,000 6,286,000 36,150,000 29,154,000 22,925,000 20,733,000 12,481,000 19,427,000 11,036,000 9,677,000 12,056,000 8,221,000 6,133,000 6,294,000 4,274,000 3,568,000 3,952,000 2,980,000 932,000 1,398,000 988,000 844,000 1,363,000 77,000 
      maturities of convertible senior notes
    		                                     
      net cash from financing activities
    		-835,000,000 -20,000,000 -15,000,000 59,000,000 55,000,000 3,000,000 0 3,000,000 6,000,000 -15,000,000 20,000,000 6,000,000 6,292,000 3,420,000 6,286,000 36,150,000 29,154,000 1,564,093,000 20,733,000 2,038,077,000 19,427,000 11,036,000 697,691,000 12,056,000 402,925,000 6,133,000 653,278,000 4,274,000 3,568,000 564,009,000 2,980,000 932,000 225,821,000 988,000 844,000 1,363,000 52,000 
      effect of foreign exchange on cash, cash equivalents and restricted cash
    		  9,000,000 4,000,000                                  
      net increase in cash, cash equivalents and restricted cash
    		-825,000,000 639,000,000 422,000,000 -189,000,000                                  
      cash, cash equivalents and restricted cash – beginning of year
    		                                     
      cash, cash equivalents and restricted cash – end of year
    		                                     
      supplemental cash flow information:
    		                                     
      cash paid for income taxes
    		171,000,000 -38,000,000 34,000,000 27,000,000 102,000,000   9,000,000                              
      cash paid for interest
    		                                     
      net income for the period
    		     657,000,000 444,000,000 -273,000,000 -61,000,000   68,000,000  -158,409,000 -1,474,408,000  1,148,432,000 1,258,445,000  191,068,000                  
      unrealized loss on embedded derivative
    		                                     
      acquisition of business, net of cash acquired
    		   -56,000,000                                  
      cash, cash equivalents and restricted cash – beginning of period
    		 233,000,000 -189,000,000 1,498,000,000                                  
      cash, cash equivalents and restricted cash – end of period
    		 872,000,000 233,000,000 1,309,000,000                                  
      net income the period
    		                                     
      deferred income tax expense
    		    75,000,000 1,000,000 1,000,000 1,000,000   1,000,000 1,000,000    -115,886,000 178,505,000 100,954,000                    
      net loss for the period
    		   -682,000,000                 -31,429,000  -72,784,000 -24,151,000  -23,184,000 -15,902,000  -9,380,000 -14,030,000 -13,598,000  -9,120,000 -8,439,000 -8,929,000  -4,657,000 
      adjustments to reconcile net loss to net cash from operating activities:
    		                                     
      changes in operating assets and liabilities:
    		                                     
      net gain on equity and other investments
    		                                     
      effect of foreign exchange on cash and cash equivalents
    		          0 2,000,000 7,405,000 -12,963,000 22,000 -3,342,000 -5,405,000 577,000 8,896,000 3,529,000 -15,020,000 1,452,000 -1,334,000 655,000 -315,000 -467,000 -245,000 178,000 1,035,000 916,000 -27,000 -134,000 -90,000 172,000 1,079,000 -326,000 -484,000 
      net increase in cash and cash equivalents
    		     48,000,000 -292,000,000 210,000,000   -216,000,000 89,000,000   -51,447,000 313,379,000 -175,057,000 81,974,000 -386,287,000 1,207,522,000 319,447,000 -474,613,000 455,539,000 -237,000 167,262,000 23,620,000 54,901,000 21,828,000 -79,548,000 98,129,000 17,255,000 -103,347,000 119,220,000 -15,724,000 -26,206,000 -5,245,000 -31,353,000 
      cash and cash equivalents – beginning of period
    		     -82,000,000 210,000,000 1,413,000,000 -324,000,000 -127,000,000 89,000,000 1,649,000,000  0 2,502,992,000  0 2,703,597,000  0 649,916,000  0 410,683,000  0 141,677,000  0 0 84,013,000  0 0 110,070,000   
      cash and cash equivalents – end of period
    		     -34,000,000 -82,000,000 1,623,000,000 126,000,000 -324,000,000 -127,000,000 1,738,000,000  -1,972,530,000 2,451,545,000  -175,057,000 2,785,571,000  1,207,522,000 969,363,000  455,539,000 410,446,000  23,620,000 196,578,000  -79,548,000 98,129,000 101,268,000  119,220,000 -15,724,000 83,864,000   
      deferred income tax recovery
    		                                     
      repayments of loans
    		        135,000,000 100,000,000 113,000,000 166,000,000                          
      acquisitions of property and equipment
    		          -7,000,000 -14,000,000 -7,624,000 -13,905,000 -15,940,000 -25,975,000 -11,362,000 -5,188,000 -6,356,000 -10,048,000 -16,740,000 -13,402,000 -12,920,000 -9,552,000 -7,518,000 -5,325,000 -5,405,000 -10,785,000 -3,968,000 -2,657,000 -2,633,000 -8,487,000 -5,229,000 -7,342,000 -2,715,000 -5,158,000  
      purchase of marketable securities
    		         -502,000,000 -181,000,000 -1,098,000,000 -1,442,900,000 -1,535,130,000 -1,463,705,000 -1,720,887,000 -1,466,622,000 -2,444,955,000 -1,939,115,000 -1,690,399,000 -496,224,000 -715,502,000 -980,288,000 -700,052,000 -758,402,000 -392,207,000 -933,307,000 -180,061,000 -310,990,000 -540,537,000 -97,675,000 -145,558,000 -142,257,000 -34,954,000 -46,439,000 -28,342,000  
      maturity of marketable securities
    		         91,000,000 -152,000,000 1,397,000,000 1,616,223,000 1,584,380,000 1,929,395,000 1,784,469,000 1,527,804,000 1,038,316,000 1,285,189,000 777,057,000 913,178,000 442,105,000 785,614,000 679,467,000 538,261,000 415,597,000 347,902,000 190,564,000 237,900,000 102,074,000 111,535,000 49,789,000 40,626,000 28,757,000 20,700,000   
      purchase of equity and other investments
    		          76,000,000 -90,000,000 -5,021,000 -60,486,000 -453,945,000 -7,667,000 -240,692,000 -206,552,000                    
      net decrease in cash and cash equivalents
    		            271,077,000                         
      cash paid for amounts included in the measurement of lease liabilities included in cash flows from operating activities
    		                 6,674,000   4,742,000  4,079,000               
      lease liabilities arising from obtaining right-of-use assets
    		                 12,207,000   2,718,000                 
      acquired property and equipment remaining unpaid
    		                 1,557,000   2,441,000  -332,000   -613,000 3,044,000    619,000       
      amortization of debt offering costs
    		           1,000,000 588,000 587,000 586,000 587,000 585,000 585,000                    
      other current assets
    		            13,852,000 -33,728,000 -4,782,000 -22,850,000 -10,804,000 -13,205,000 6,037,000 3,374,000 -15,349,000 -9,262,000 2,771,000 -2,917,000 -2,561,000 -2,723,000 -2,193,000 -1,527,000 -2,527,000 3,472,000 -3,124,000       
      non-cash consideration received in exchange for services
    		            0 -196,475,000 -76,726,000 -10,481,000 -65,277,000                     
      income taxes receivable and payable
    		            13,730,000 1,378,000 -4,898,000                       
      lease assets and liabilities
    		            7,984,000 -6,371,000 -5,520,000 251,000 -1,206,000 4,938,000 -1,482,000 -522,000 830,000 840,000 -943,000 1,260,000              
      proceeds from public equity offerings, net of issuance costs
    		               0 0 1,541,168,000 0                   
      cash and cash equivalents – beginning of year
    		                                     
      cash and cash equivalents – end of year
    		                                     
      merchant cash advances, loans and related receivables
    		             -150,686,000 -27,283,000 41,168,000 -119,162,000 -74,561,000 -274,000 -90,098,000 -46,478,000                 
      note
    		                                     
      net unrealized gain on equity and other investments
    		               509,735,000 -1,340,842,000                     
      acquisitions of intangible assets
    		                  0 0 -219,000 -154,000 -3,549,000 -1,440,000 -1,267,000 -2,975,000 -5,447,000 -1,337,000 -858,000 -1,100,000 -924,000 -459,000 -748,000 -926,000 -330,000 -2,114,000  
      proceeds from convertible senior notes, net of underwriting fees and offering costs
    		                  0                   
      cash (recovered from) paid for income taxes
    		                                     
      income tax assets and liabilities
    		                6,840,000 9,525,000 34,046,000 -24,549,000 -90,375,000 3,163,000                
      amortization of debt discount and offering costs
    		                  7,556,000                   
      deferred income taxes
    		                  -47,596,000 19,326,000 -6,643,000 -22,623,000                
      unrealized gain on equity and other investments
    		                 -1,250,944,000 -1,954,000                   
      adjustments to reconcile net income to net cash provided (used) by operating activities:
    		                                     
      net cash provided (used) by operating activities
    		                 135,683,000      24,344,000   -1,875,000           
      net cash (used) provided by investing activities
    		                 -1,618,379,000                    
      equity and other investments
    		                                     
      proceeds from public offering, net of issuance costs
    		                     0   394,704,000 0 646,984,000 0 0         
      net loss for the year
    		                                     
      provision for uncollectible receivables related to merchant cash advances and loans receivable
    		                     4,945,000 3,428,000 3,156,000              
      merchant cash advances and loans receivable
    		                     10,658,000 -53,647,000 -18,117,000              
      net cash used by investing activities
    		                     -539,989,000  -37,292,000 -244,605,000 15,090,000            
      acquired intangible assets remaining unpaid
    		                          300,000           
      capitalized stock-based compensation
    		                      33,000   642,000 322,000    362,000       
      adjustments to reconcile net loss to net cash (used) provided by operating activities:
    		                                     
      net cash (used) provided by operating activities
    		                    -84,955,000                 
      net cash provided (used) by investing activities
    		                    399,995,000      -596,257,000           
      opening lease liabilities arising from obtaining right-of-use assets
    		                      0               
      adjustments to reconcile net loss to net cash provided (used) by operating activities:
    		                                     
      lease incentives
    		                        3,142,000 2,771,000 1,431,000 -297,000 2,669,000 126,000 17,000       
      non-cash investing activities:
    		                                     
      provision for uncollectible receivables related to merchant cash advances
    		                         971,000 1,582,000 133,000 551,000 1,330,000 592,000       
      merchant cash advances receivable
    		                         -20,508,000 -18,009,000 3,042,000 -17,988,000 -16,832,000 -6,033,000       
      net cash used by operating activities
    		                                     
      vesting of restricted shares
    		                               0 30,000 86,000 86,000 86,000 86,000 
      unrealized foreign exchange gain
    		                          -128,000 -102,000 -601,000 -790,000 -111,000       
      acquisition of business
    		                               -6,145,000 0     
      proceeds from initial public offering, net of issuance costs
    		                                   0 -25,000 
      proceeds from follow-on public offering, net of issuance costs
    		                               0      
      change in lease incentives
    		                                521,000 872,000 609,000   
      change in deferred revenue
    		                                1,868,000 2,001,000 1,912,000 1,776,000  
      changes in non-cash working capital items
    		                                -2,428,000 3,436,000 1,523,000 2,777,000 -1,925,000 
      supplemental non-cash items
    		                                     
      loss on asset disposal
    		                                     
      changes in lease incentives
    		                                   1,309,000 632,000 
      proceeds from disposal of property and equipment
    		                                     
      issuance of series c convertible preferred shares, net of issuance costs
    		                                     
      sale of marketable securities
    		                                     
      changes in deferred revenue
    		                                     
      purchase of short-term investments
    		                                     
      sale of short-term investments
    		                                     
      acquisition of property and equipment
    		                                     
      acquisition of intangible assets
    		                                     
      cash and cash equivalents - beginning of the period
    		                                     
      cash and cash equivalents - end of the period
    		                                     
    The information provided in this report is taken from www.sec.gov and many other data providers. While we have conducted our best efforts to ensure that the parsed data is accurate, we cannot guarantee its accuracy. Please use caution and understand that any consequences of its use are your own responsibility.