Know what you actually keep on every sale.
Keel HQ takes the unit costs already in Shopify and layers revenue into contribution margin: CM1, then CM2. A monthly report turns it into a P&L you can read in five minutes.
Private beta · every feature on every plan
- CM1 + CM2
- on real COGS, for any period you pick
- 90% rule
- numbers held back until revenue has a cost
- Monthly P&L
- generated on the 1st, draft then published
01.
What is my margin after the cost of goods?
The Overview shows a Margin layers row that follows the period you have selected. COGS comes from your Shopify unit costs and is reversed on refunds and restocks, so CM1 reflects what you really sold, not what you shipped once.
- CM1 is net revenue less COGS; CM2 also takes out variable costs.
- Reversed on refunds and restocks, not just booked at the sale.
- Switch between MTD, 7D, 14D, 30D, 60D and 90D and every layer moves together.
02.
Can I trust the number I am looking at?
A margin built on missing costs flatters you. Until 90% of revenue in the period has a cost behind it, Keel HQ holds the margin back and lists the products to fix, so you see a gap instead of a wrong answer.
- The hold-back lists which products are missing a unit cost.
- Add the missing cost in Shopify and the margin returns once it syncs.
- No estimate from industry averages fills the gap.
03.
How did last month go?
On the 1st of each month a report is generated from your synced data: a scorecard with the change on last month, a P&L on real COGS, and a narrative drafted from your numbers. Regenerate it until it reads right, then mark it published.
- Every figure is computed from your data; only the narrative is drafted by AI.
- Upload a Finaloop P&L export and map its lines into variable and fixed costs.
- Draft and published states keep a half-checked report from going out.
// data sources
What the margins read
Profit is only as good as the costs underneath it, so each input is named.
- Shopify orders
- Net revenue, discounts and refunds for the period.
- Shopify unit costs
- The cost per item you keep in Shopify, reversed on refunds and restocks.
- P&L import
- A Finaloop XLSX export, mapped line by line and reviewed by you.
- Fixed costs
- Fixed OpEx you enter or import, shown against revenue.
Where it stops · CM3 and net profit need ad spend, which arrives once Meta Ads connects. Meta Ads is not generally available yet, so those two layers stay empty until it is. Keel HQ reports margin; it is not accounting software.
// faq
Questions about profit in Keel HQ
What is the difference between CM1, CM2 and CM3?
CM1 is net revenue less the cost of goods. CM2 also takes out your variable costs. CM3 takes out ad spend. Keel HQ shows CM1 and CM2 today; CM3 needs Meta Ads, which is not generally available yet.
Where do my product costs come from?
From the unit costs on your Shopify products. If an item has no cost, Keel HQ says so and lists it instead of assuming one.
Why is my margin hidden?
A margin on partial costs is misleading. Until 90% of the period's revenue has a unit cost, the margin is held back and the products to fix are listed.
Is the monthly report written by AI?
The numbers are computed from your data. Only the narrative that explains what moved is drafted by AI, and AI features run on your own Anthropic or OpenAI key.
Does it replace my accountant or bookkeeping?
No. It is a management view of margin from your store data. You can import a Finaloop P&L export so your accounting costs flow in, but the books stay where they are.
// next
Cash. Profit is what you keep; cash is when you can spend it. See the 14-week forecast behind the margin.
Join the waitlist.
Currently in private beta. We're onboarding DTC operators one at a time. Drop your email and we'll reach out when a seat opens.