How did Shopify's R&D expenses impact profitability in 2023?

Shopify's research and development (R&D) expenses had a significant impact on profitability in 2023. The company's R&D expenses were $1.73 billion as of December 31, 2023, which is a substantial amount of money. This spending had a direct impact on the company's net income, which was $132 million for the same period.

The increase in R&D expenses led to a decrease in the company's diluted EPS (earnings per share), which was $0.1 in 2023, representing a 5.7% decrease from the previous year. This suggests that the company's profitability was negatively impacted by the increased spending on R&D.

|code|Ticker|Name|Date|R&D Expenses|Total Revenue|Net Income|Diluted EPS|market_code|
|---|---|---|---|---|---|---|---|---|
|SHOP|SHOP.N|Shopify|2023 Q1|4.58E8|1.508E9|6.8E7|0.05|169|
|SHOP|SHOP.N|Shopify|2023 Q2|6.48E8|1.694E9|-1.311E9|-1.02|169|
|SHOP|SHOP.N|Shopify|2023 Q3|3.13E8|1.714E9|7.18E8|0.55|169|
|SHOP|SHOP.N|Shopify|2023 Q4|3.11E8|2.144E9|6.57E8||169|