We have some basic comments posted now; Post conference-call, SHOP discussed its prior spending efforts which are now paying off. As a bonus, negative tariff impact did not materialize as expected. AI is really helping merchants understand their business and customers, and this is leading to better sales and customer retention. Europe is going gangbusters, with SHOP doing so much better than the competition. Growth is coming from 'every angle' in Europe. Overall, the merchant base is 'resilient'. US business accelerated and the company does not believe this is just a forward pull-through from tariffs. The main usual challenges exist, mostly macro, pricing and sourcing. But other than tariff uncertainty nothing really new in terms of obstacles. It was a very strong quarter and good outlook with good margins.
5i Research Answer: