Shopify
Q3 2022 Earnings Call
Oct 27, 2022, 8:30 a.m. ET
Contents:
- Prepared Remarks
- Questions and Answers
- Call Participants
Prepared Remarks:
Amy Feng
Good morning, and thank you for joining Shopify's third quarter 2022 conference call. Tobi Lütke, Shopify's CEO; Harley Finkelstein, Shopify's President; Amy Shapero, our CFO; and Jeff Hoffmeister, our incoming CFO, are with us this morning. After their prepared remarks, we will open it up for your questions. We will make forward-looking statements on our call today that are based on assumptions and therefore, subject to risks and uncertainties that could cause actual results to differ materially from those projected.
We undertake no obligation to update these statements, except as required by law. You can read about these assumptions, risks and uncertainties in our press release this morning as well as in our filings with U.S. and Canadian regulators. We'll also speak to adjusted financial measures which are non-GAAP measures and not a substitute for GAAP financial measures.
Reconciliations between the two are in the tables at the end of our press release. And finally, we report in U.S. dollars. So all amounts discussed today are in U.S.
dollars unless otherwise indicated. With that, I will turn the call over to Harley.
Harley Finkelstein -- President
Thanks, Amy, and good morning, everyone. As you can see from our Q3 performance, merchants continue to succeed on Shopify, growing sales and using more of our mission-critical tools to run their businesses. Shopify's essential tools serve as a business' central operating system. These tools help our merchants stay ahead of the curve as commerce continues to rapidly evolve.
This is particularly important today as businesses grapple with the consequences of rising interest rates and inflation. This is a key reason why merchants choose Shopify: We make the important things easy and everything else possible. Later, Amy will discuss our Q3 financial performance and expectations for the rest of the year. I'm going to focus on the investments and the progress we've made in Q3 that further our competitive positioning and enable merchants to build buyer relationships to go global, to advance from first sale to full scale and simplify logistics, all of which plays a vital role in making commerce better for everyone.
Starting with building buyer relationships. For our merchants, discovering and connecting with more buyers and deepening relationships with existing customers are critical to a merchant's ability to create long-term success. Whether that connection is online or offline, Shopify has a suite of innovative products, like our best-in-class retail point-of-sale offering, that is rapidly becoming the solution of choice not only for SMBs, but also for large retailers. During the quarter, the outsized pace of offline growth on Shopify continued as we brought on eight new merchants with over 20 locations each and one with over 175 locations.