Table:
|  |  | Years ended December 31, |  |
| --- | --- | --- | --- |
|  | 2019 | 2018 | 2017 |
|  | (in thousands, except share and per share data) |  |  |
| Revenues: |  |  |  |
| Subscription solutions | $642,241 | $464,996 | $310,031 |
| Merchant solutions | 935,932 | 608,233 | 363,273 |
|  | 1,578,173 | 1,073,229 | 673,304 |
| Cost of revenues(1)(2): |  |  |  |
| Subscription solutions | 128,155 | 100,990 | 61,267 |
| Merchant solutions | 584,375 | 375,972 | 231,784 |
|  | 712,530 | 476,962 | 293,051 |
| Gross profit | 865,643 | 596,267 | 380,253 |
| Operating expenses: |  |  |  |
| Sales and marketing(1)(2) | 472,841 | 350,069 | 225,694 |
| Research and development(1)(2) | 355,015 | 230,674 | 135,997 |
| General and administrative(1) | 178,934 | 107,444 | 67,719 |
| Total operating expenses | 1,006,790 | 688,187 | 429,410 |
| Loss from operations | (141,147) | (91,920) | (49,157) |
| Other income | 45,332 | 27,367 | 9,162 |
| Loss before income taxes | (95,815) | (64,553) | (39,995) |
| Provision for income taxes | 29,027 | — | — |
| Net loss | $(124,842) | $(64,553) | $(39,995) |
| Basic and diluted net loss per share attributable to shareholders | $(1.10) | $(0.61) | $(0.42) |
| Weighted average shares used to compute net loss per share attributable to shareholders | 113,026,424 | 105,671,839 | 95,774,897 |
Paragraphs:
Results of Operations
The following table sets forth our consolidated statement of operations for the years ended December 31, 2019, 2018, and 2017.
(1) Includes stock-based compensation expense and related payroll taxes as follows:
Question:
What financial items does operating expenses consist of?