SHOP growth by segment and Gross Margins

Below are SHOP’s revenues by segment (Subscription and Merchant). It’s also nice to see that margins are not dropping so far.


	        **Subscription Revenue in $000**				
	        **2012	2013	2014	2015	2016	Q1 2017**
Revenue	        19200	38339	66668	111979	188606	62080
Cost of Rev	4291	8504	16790	24531	39478	12254
Gross Profit	14909	29835	49878	87448	149128	49826
GM	        78%	78%	75%	78%	79%	80%
						
						
	        **Merchant Revenue in $000**					
	        **2012	2013	2014	2015	2016	Q1 2017**
Revenue	        4513	11913	38350	93254	200724	65299
Cost of Rev	485	5009	26433	69631	140357	42884
Gross Profit	4028	6904	11917	23623	60367	22415
GM	        89%	58%	31%	25%	30%	34%

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