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Card class: Sensitive • Category: Revenue & Sales

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At a glance

The money you actually keep from Amazon after Amazon’s fees and customer refunds are taken out. Where Total Revenue is the gross top line (ordered product sales before deductions), this card subtracts referral fees, FBA / fulfilment fees, and refunded order value to land on a closer-to-banked figure. It is the number finance should trend, because gross sales can grow while net shrinks if fees creep or returns climb.
What it countsGross ordered product sales for the period, minus Amazon’s fees (referral fees, FBA / fulfilment fees, and the storage and other selling fees that apply), minus refunded order value. It is a net-of-fees, net-of-refunds view, not the gross top line.
What it is notIt is not your true profit. It does not subtract your cost of goods, advertising spend, or overheads. It is “revenue you keep from Amazon after Amazon’s cut and customer refunds”, which is the right top line for unit-economics analysis, not the bottom line.
Why net, not grossGross sales can rise while net falls. A fee-mix shift, a Sponsored Products spend increase reported elsewhere, or a returns spike on a high-value ASIN can all erode the keep-rate. Net is the figure that catches that.
Fees includedReferral fees and FBA / fulfilment fees are the big two. See Referral Fees, FBA Fees, FBA Storage Fees, and Fees % of Revenue for the components.
RefundsRefunded order value is subtracted. A fully refunded order that contributed to gross sales is removed here. Cross-check Return Rate.
Ads framingSponsored Products / Brands spend is reported in the ads cards, not deducted here. To get to a marketing-adjusted view, subtract ad spend separately. See Organic vs Ad Sales Share.
Time window30D vsP (trailing 30 days vs the prior 30 days)
Alert triggerdrop >10% vsP, driven by the revenue detection layer. A 10%+ net drop versus the prior period flags margin erosion or a returns spike.
Rolesowner, finance

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Calculation

Calculated automatically from your Amazon Seller Central data. Net Revenue takes gross ordered product sales for the period and subtracts Amazon’s fees and refunded order value. See the At a glance summary above for what is included and the worked example below for a typical reading.

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Worked example

A UK beauty brand on amazon.co.uk running FBA. Period: trailing 30 days to 14 Mar 26, compared against the prior 30 days.
LineThis 30 daysPrior 30 days
Gross ordered product sales (Total Revenue)£120,000£118,000
less Referral fees(£18,000)(£17,600)
less FBA / fulfilment fees(£14,400)(£14,000)
less Refunded order value(£9,600)(£5,900)
Net Revenue (this card)£78,000£80,500
This 30 days net   =  120,000 - 18,000 - 14,400 - 9,600   =  £78,000
Prior 30 days net  =  118,000 - 17,600 - 14,000 - 5,900   =  £80,500
Change vs prior    =  (78,000 - 80,500) / 80,500          =  -3.1% vsP
Gross moved        =  (120,000 - 118,000) / 118,000        =  +1.7% vsP (UP)
Five things to notice:
  1. Gross went up while net went down. Total Revenue rose 1.7%, but net fell 3.1%. Anyone reading only the gross top line would think the month was fine. The net view exposes that the keep-rate eroded.
  2. Refunds did the damage. Refunded value jumped from £5,900 to £9,600, a £3,700 swing that more than wiped out the £2,000 gross gain. The next move is to open Return Rate and find which ASINs drove the returns.
  3. Fees were roughly proportional. Referral and FBA fees rose in line with gross sales, so the fee ratio held. That tells finance the problem this month was returns, not a fee-mix shift. In a different month the reverse can be true; read Fees % of Revenue to tell them apart.
  4. This is still not profit. The £78,000 has not had cost of goods, ad spend, or overheads taken out. It is the right figure for unit economics and keep-rate, not the bottom line.
  5. The drop here was under the alert. A 3.1% fall sits below the drop >10% vsP threshold, so Nerve Centre stays quiet, but the trend is visible on the card. A bigger returns spike would have tripped it.
A 3.1% decline is below the alert threshold, so Vortex IQ Nerve Centre does not raise it, but the divergence between rising gross and falling net is exactly the pattern the net card exists to make visible to finance.

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Sibling cards merchants should reference together

Net Revenue is the keep-rate top line. These cards show what moves it:
CardWhy pair it with Net Revenue
Total RevenueThe gross figure this card nets down from. Reading both side by side shows whether growth is real or being eaten by fees and refunds.
Referral FeesA primary deduction. A category-mix shift toward higher-fee categories cuts net even at flat gross.
FBA FeesThe other big deduction. Fee changes or a shift in size tiers erode net.
Fees % of RevenueThe ratio view that tells you whether a net drop is a fee problem or a refunds problem.
Return RateThe refunds driver. A returns spike subtracts directly from this card.
Net Revenue After Fees + Refunds vs grossThe keep-rate is net divided by gross; trend it to catch slow margin erosion before it is large.

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Reconciling against Amazon Seller Central

Where to look in Seller Central: The closest native views are:
Seller Central → Reports → Payments (the Date Range / Summary report) for the fee and refund breakdown that nets gross down to disbursed funds, and Reports → Business Reports for the gross ordered-product-sales side.
The Payments summary is the best reconciliation point, since it lists product sales, refunds, and each fee category for the period. Net Revenue on this card is conceptually “product sales minus fees minus refunds” from that report, before any cost of goods or ad spend you account for separately. Timing, settlement, and reporting-lag table:
TopicDetail
Order date vs settlement dateThis card nets on order/period basis. The Payments report can be read on a settlement basis, so the two will not match exactly at the period edge because some fees and refunds settle in a later disbursement.
Fee posting lagSome fees (notably storage and certain adjustments) post on Amazon’s schedule rather than at order time, so a given window can pick up fees that belong to earlier orders.
Refund timingA refund is subtracted when processed, which can be after the original order’s period. A late refund pulls a later window down even though the sale was earlier.
Marketplace scope and currencyComputed per marketplace in that marketplace’s currency. Multi-marketplace sellers should read per region rather than summing across currencies.
Why our number may legitimately differ from the Payments report:
ReasonDirectionWhy
Order basis vs settlement basisEither direction at the edgeThe card nets on the order period; the Payments report can settle fees and refunds in a later disbursement window.
Which fees are includedPossible gapIf a fee category is posted late or classified differently, the netting differs until it posts. Confirm referral, FBA, and storage are all captured.
Refund recognition timingOurs can differ by a few daysA refund processed just after period end lands in different windows on the two views.
Ad spend treatmentOurs excludes itThis card does not subtract Sponsored Products / Brands spend; if your internal net deducts ads, your figure will be lower.
Cross-connector reconciliation against other connectors the same seller may run:
CardExpected relationshipWhat causes legitimate divergence
shopify.net_revenueIndependent channels, same concept. Each channel nets its own gross down by its own fees and refunds. Summing the two net figures gives a cross-channel keep-rate.Different fee structures (Amazon referral and FBA vs Shopify payment and app fees) mean the keep-rate differs by channel even for the same product.
amazon-share-of-total-revenueContext. Net Revenue tells you how much of Amazon’s gross you keep; share tells you how big Amazon is in the mix.Share is computed on gross, so a high-share, low-keep-rate Amazon channel is a margin risk that share alone will not reveal.

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Known limitations / merchant FAQs

Is this my profit? No. Net Revenue subtracts Amazon’s fees and customer refunds, but not your cost of goods, advertising spend, or overheads. It is the revenue you keep from Amazon after Amazon’s cut and refunds, which is the right top line for unit-economics and keep-rate analysis, not your bottom line. Why is my net falling when gross is flat or rising? The usual culprits are a returns spike (more refunded value subtracted) or a fee-mix shift (a move toward higher-referral-fee categories or larger FBA size tiers). Read Return Rate and Fees % of Revenue to tell which one is driving it. Does this include my Sponsored Products spend? No. Advertising spend is reported in the ads cards, not deducted here. To get to a marketing-adjusted view, subtract your ad spend separately. The keep-rate on this card is before advertising. Why does it not match my Payments report exactly? The card nets on the order period, while the Payments report can settle fees and refunds in a later disbursement. Late-posting fees (like storage) and refunds processed just after period end land in different windows on the two views. Over a full settlement cycle they converge. Should finance trend gross or net? Both, side by side. Gross shows demand; net shows what you keep. The most dangerous pattern is gross rising while net falls, which means fees or returns are eating the growth. That divergence is exactly why this card exists.

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Tracked live in Vortex IQ Nerve Centre

Net Revenue (after fees + refunds) is one of hundreds of KPI pulses Vortex IQ tracks across Amazon Seller Central and 70+ other ecommerce connectors. Nerve Centre runs the detection layer; Vortex Mind investigates the cause when something moves; Ask Viq lets you interrogate any number in plain English. Start for free or book a demo to see this metric running on your own data.