Comparing SG&A Expenses: Shopify Inc. vs Corpay, Inc. Trends and Insights

SG&A Expenses: A Tale of Two Companies

In the dynamic world of e-commerce and financial services, understanding operational costs is crucial. Over the past decade, Shopify Inc. and Corpay, Inc. have shown distinct trends in their Selling, General, and Administrative (SG&A) expenses.

Shopify Inc.: A Rapid Climb

From 2014 to 2023, Shopify's SG&A expenses skyrocketed by over 2,800%, reflecting its aggressive growth strategy and expansion efforts. By 2022, Shopify's expenses peaked, indicating a robust investment in scaling operations and enhancing customer experience.

Corpay, Inc.: Steady Growth

In contrast, Corpay's SG&A expenses grew by approximately 235% during the same period. This steady increase highlights a more conservative approach, focusing on sustainable growth and operational efficiency.

Insights and Implications

These trends underscore the strategic differences between the two companies. While Shopify's rapid expense growth aligns with its market expansion, Corpay's steady increase suggests a focus on maintaining profitability and stability.