Glossary of Terms & KPI Definitions

You can group and filter most metrics by the dimensions below. The matrix shows which metric category each dimension is available on.

* Only available when one Shopify store is connected.

Your access to each metric depends on which connectors you have set up.

Gross Revenue
Total value of your orders, including shipping revenue, including tax and accounting for checkout discounts, but not accounting for refunds.

Gross Product Revenue
Gross revenue from products only, excluding shipping.

Gross Shipping Revenue
Shipping fees paid by your customers to your business.

Gross Revenue less Refunds
Gross Revenue with refunds deducted; refunds are tied to the original order date.

Net Revenue
Total value of your orders, including shipping revenue, excluding tax and accounting for checkout discounts, but not accounting for refunds.

Net Revenue less Refunds
Net Revenue with refunds deducted.

Net Revenue less Refunds and Shipping
Net Revenue with refunds and shipping revenue both removed — useful for product-only economics.

New Customer Gross Revenue
Gross revenue from orders placed by customers ordering for the first time.

Existing Customer Gross Revenue
Gross revenue from orders placed by customers who have ordered before.

New Customer Revenue %
Share of gross revenue coming from new customers.

Existing Customer Revenue %
Share of gross revenue coming from existing customers.

Gross Revenue Mix %
Each row's share of total gross revenue across the current breakdown — for example, each product's share of revenue when grouped by product.

Gross Revenue Percentile
Each row's rank within the breakdown, from 0 to 100.

Contribution (before COGS)
Net revenue (less refunds) minus marketing spend. A quick read on whether revenue is outpacing marketing investment. Does not yet account for product costs.

Gross Discount
Revenue lost to checkout discounts. Excludes markdowns and price-list discounts.

Discount %
Percentage of revenue lost to checkout discounts.

New Customer Discount %
Discount % on new-customer orders.

Existing Customer Discount %
Discount % on existing-customer orders.

Number of Orders with Discounts
Count of orders where a checkout discount was applied.

% Orders Discounted
Share of orders that had a checkout discount.

Gross Refund
Product and shipping revenue refunded from orders placed in the selected date range. Refunds may have occurred outside of the selected date range — they're tied to the original order date.

Gross Product Refund
Refunded product revenue.

Gross Shipping Refund
Refunded shipping revenue.

Net Refund
Refunds excluding tax.

Refund %
Percentage of revenue refunded.

Existing Customer Refund %
Refund % on existing-customer orders.

Orders
Number of orders placed, excluding orders with zero gross revenue.

Orders (Including Zero Revenue Orders)
Same as Orders, but counts zero-value orders (e.g. comp orders) too.

Units Sold
Quantity of units sold across all orders.

Net Units
Units sold net of refunded units.

Units Refunded
Quantity of units refunded.

Units Allocated
Units allocated to orders (for stock-allocation reporting).

Units per Order
Average number of units per order.

New Customer Units per Order
Units per order on new-customer orders.

Existing Customer Units per Order
Units per order on existing-customer orders.

Average Order Value (AOV)
Average order value, including tax and shipping as paid by your customers.

New Customer AOV
AOV on new-customer orders.

Existing Customer AOV
AOV on existing-customer orders.

Average Selling Price (ASP)
Average revenue per unit.

Total Customers
Number of unique customers who placed an order in the selected date range.

Customers Acquired (New Customers)
Number of customers placing their first ever order in the selected date range.

Existing Customers
Number of returning customers (customers who had ordered before the selected date range).

Existing Customers Mix %
Share of customers that are returning.

Customers Acquired Mix %
Share of customers that are new.

Customer Order Frequency
Average number of orders per customer in the date range.

Existing Customer Order Frequency
Average orders per existing customer in the date range.

6 / 12 / 24-month Order Frequency
Average orders per cohort customer within 6, 12, or 24 months of acquisition.

3 / 6 / 12 / 24-month Repeat Rate
Share of acquired customers who placed at least one additional order within the cohort window.

Average Days Between Orders
Average gap between consecutive orders for repeat customers.

Sessions
Number of visits to your website, pulled from Google Analytics.

Conversion Rate
Share of sessions that resulted in an order.

Conversion Rate (incl. Untracked)
Conversion Rate including orders that weren't matched to a Google Analytics session.

Platform Attributed Conversions
Orders attributed to a marketing platform using that platform's own attribution model (Meta, Google, TikTok).

Platform Attributed Revenue
Gross revenue from platform-attributed orders.

Platform ROAS

Platform ACoS

Ad Spend
Total cost of your digital marketing campaigns across Google Ads, Meta Ads, TikTok Ads.

Clicks
Number of clicks your ads received across connected platforms.

Impressions
Number of times your ads were shown across connected platforms.

Max Search Impressions
Maximum possible search impressions for your campaigns (used to calculate impression share).

Impression Share
Share of total available impressions your ads captured.

Click-through Rate (CTR)

Cost per Click (CPC)

Cost per Mille (CPM)
Cost per 1,000 impressions.

Cost per Order (CPO)

Return on Ad Spend (ROAS)

ROAS (Net Revenue less Refunds)

TACoS (Total Advertising Cost of Sales)

CAC (Customer Acquisition Cost)
Average marketing spend per newly-acquired customer.

LTV Gross Revenue
Gross revenue generated by a customer cohort. Reported on 6-month, 12-month, and 24-month windows.

LTV Net Revenue less Refunds
Net revenue (less refunds) generated by a customer cohort, on 6 / 12 / 24-month windows.

LTV Contribution
Average contribution per cohort customer.

LTV to CAC, Contribution

LTV Tax
Tax generated by a cohort over the window (Product Tax + Shipping Tax variants also available).

Cumulative LTV variants
Each LTV metric also has a cumulative variant that returns the running total per month-since-acquisition — used to plot LTV curves.

Tax
Total tax across orders.

Product Tax
Tax collected on products.

Shipping Tax
Tax collected on shipping.

Tax less Refunds
Tax net of refunded tax.

# SKUs
Number of unique SKUs matching your filters.

Daily Rate of Sale
Average units sold per day over the selected period.

Option Count
Number of product options (variants).

Metrics from your connected accounting platform (for example Xero, QuickBooks or Sage). Figures are scoped per accounting entity for multi-entity companies to avoid double-counting.

Revenue (Accounting)
Total income recognised in the accounting ledger (P&L) over the selected period. Scope by accounting entity for multi-entity companies.

Total Expenses (Accounting)
Total expenses recognised in the accounting ledger (P&L) over the selected period.

Cost of Goods Sold (Accounting)
Cost of sales from the accounting ledger (P&L). NOTE: the cost-of-sales vs operating split comes from an automatically suggested category tier, so treat it as an indicative classification rather than an authoritative one.

Operating Expenses (Accounting)
Operating expenses from the accounting ledger (P&L). NOTE: the operating vs cost-of-sales split comes from an automatically suggested category tier, indicative, not authoritative.

Net Income (Accounting)
Revenue minus total expenses from the accounting ledger (P&L) over the selected period.

Gross Profit (Accounting)
Revenue minus cost of goods sold from the accounting ledger (P&L). Relies on an automatically suggested cost-of-sales classification, so treat as indicative.

Gross Margin % (Accounting)
Gross profit as a percentage of revenue. Relies on an automatically suggested cost-of-sales classification, so treat as indicative.

Net Margin % (Accounting)
Net income as a percentage of revenue over the selected period.

Total Assets (Accounting)
Total assets on the balance sheet as at the end of the selected period. Point-in-time balance, not a sum over time.

Total Liabilities (Accounting)
Total liabilities on the balance sheet as at the end of the selected period. Point-in-time balance, not a sum over time.

Total Equity (Accounting)
Total equity on the balance sheet as at the end of the selected period, including retained earnings. Point-in-time balance, not a sum over time.

Cash (Accounting)
Cash and cash-equivalent balances (bank accounts) on the balance sheet as at the end of the selected period, from the accounting ledger. Point-in-time balance, not a real-time bank feed.

Journal Entries (Accounting)
Number of distinct journal entries posted to the accounting ledger over the selected period. A proxy for bookkeeping activity volume, not a financial total.

Journal Lines (Accounting)
Number of individual journal lines (debit/credit postings) recorded in the accounting ledger over the selected period. Finer-grained than Journal Entries; one entry typically has two or more lines.

Ledger Account
The account in your chart of accounts (for example "Marketing" or "Employee Wages and Salaries") that a transaction is posted to. Classified by account category rather than account type.

Account Category
The Income / Expense / Asset / Liability / Equity classification a ledger account rolls up into. This, not account type, determines whether a balance counts as income, an expense, an asset, a liability, or equity.

Need a metric that isn't listed here? Get in touch — we're regularly expanding what's available.