Pricing DynamicsThe Shopify agreement change may remain an overhang for the next quarters as investors assess potential changes in competitive or pricing dynamics.
Revenue GuidanceWhile the midpoint of the total revenue guidance was raised, the top-end of the range was reduced, which could be viewed negatively.
Take Rate VolatilityThe stock finished down ~4% despite a beat and raise, largely due to continued take rate volatility associated with mix shift towards lower take rate verticals.