Setpilot tracks every number in your profit and loss (P&L) waterfall. Use this page as a quick reference — each row shows the metric name, how it is calculated, and what it tells you.
Revenue metrics
Metric | Calculation | Description |
Gross Sales | Sum of line item prices × quantity | Total value of items sold before any discounts, refunds, or taxes. |
Discounts | Order-level + line-level discounts | Total discount value applied to orders (promo codes, automatic discounts, price reductions). |
Refunds | Sum of refunded amounts | Money returned to customers, including partial refunds. |
Net Revenue | Gross Sales − Discounts − Refunds | Actual revenue you recognise after discounts and refunds. This is the top of the profit waterfall. |
Shipping Revenue | Sum of shipping charged to customers | What customers paid for shipping, separate from product revenue. |
Taxes Collected | Sum of tax on orders | Tax charged to customers. Pass-through, not counted as revenue. |
Profit waterfall (CM1 to CM4)
Metric | Calculation | Description |
CM1 — Gross Profit | Net Revenue − Product Costs (COGS) | Profit after the cost of goods you sold. Shows your core product margin. |
CM2 — Order Profit | CM1 − Order Processing Costs | Profit after shipping, payment processing, transaction fees, and other per-order costs. |
CM3 — Contribution Margin | CM2 − Marketing Costs | Profit after paid advertising spend. Critical for measuring true e-commerce profitability. |
CM4 — Net Profit | CM3 − Other Costs | Bottom-line profit after fixed and variable overhead (subscriptions, salaries, tools, etc.). |
Cost metrics
Metric | Calculation | Description |
Product Costs (COGS) | Unit cost × quantity sold | Cost of the physical products you shipped. Uses the Shopify unit cost or your manual override. |
Order Processing Costs | Shipping cost + Payment fee + Transaction fees | Variable costs triggered by each order: carrier fees, Shopify Payments fees, gateway fees, fulfilment fees. |
Marketing Costs | Sum of ad spend from connected platforms | Total ad spend from Facebook/Meta, Google Ads, Axon, and any manual marketing costs. |
Other Costs | Fixed + variable custom costs | Any cost you add manually: apps, SaaS, salaries, rent, one-off expenses. |
Total Costs | Product + Order Processing + Marketing + Other | The full cost stack subtracted from Net Revenue to reach CM4. |
Order and customer metrics
Metric | Calculation | Description |
Orders | Count of orders in the period | Total orders placed, excluding cancelled orders. |
Units Sold | Sum of line item quantities | Total individual items shipped across all orders. |
AOV (Average Order Value) | Net Revenue ÷ Orders | Average revenue per order. A key lever for profitability. |
New Customers | Customers with first order in period | Unique new buyers acquired in the selected range. |
Returning Customers | Customers with prior order history | Repeat buyers — crucial for LTV and sustainable growth. |
Repeat Rate | Returning Customers ÷ Total Customers | Share of orders coming from returning shoppers. |
Marketing and efficiency ratios
Metric | Calculation | Description |
Ad Spend | Sum of marketing costs | Total spent on paid channels in the period. |
ROAS (Return on Ad Spend) | Net Revenue ÷ Ad Spend | Revenue generated per unit of ad spend. Does not account for product or order costs. |
POAS (Profit on Ad Spend) | CM2 ÷ Ad Spend | Profit per unit of ad spend. A truer efficiency measure than ROAS. |
Gross Margin % | CM1 ÷ Net Revenue | Percentage of revenue left after product costs. |
Contribution Margin % | CM3 ÷ Net Revenue | Percentage of revenue left after product, order processing, and marketing costs. |
Net Profit Margin % | CM4 ÷ Net Revenue | Percentage of revenue that becomes bottom-line profit. |
How metrics are computed
All metrics are calculated nightly (or on-demand via the manual sync button) from your Shopify order data plus any costs you have configured. Orders are aggregated by the date they were placed, using your shop timezone. Refunds are applied to the original order date, not the refund date, so your historical numbers stay stable.
Where to see them
Dashboard — visualises the P&L waterfall, daily trends, and cost breakdown.
Orders page — per-order CM1 to CM4 and cost detail.
Products page — per-product margin and velocity.
API v2 — machine-readable access to every metric for BI tools or custom dashboards.