diff --git a/client/src/pages/Analytics.tsx b/client/src/pages/Analytics.tsx
index ec65cfd..42a2a99 100644
--- a/client/src/pages/Analytics.tsx
+++ b/client/src/pages/Analytics.tsx
@@ -1,7 +1,7 @@
 import { useState, useMemo } from 'react';
 import { useSelector } from 'react-redux';
 import { RootState } from '../store';
-import { calculateOrderPrintingCost, enrichOrderItemsWithCosts } from '../utils/orderCalculations';
+import { calculateOrderPrintingCost, enrichOrderItemsWithCosts, orderNetRevenue } from '../utils/orderCalculations';
 import { formatAustralianDate } from '../utils/dateFormatter';
 import { TrendingUp, DollarSign, Package, Users, ShoppingCart, Download, Printer } from 'lucide-react';
 
@@ -253,7 +253,9 @@ const Analytics = () => {
   }, [expenses, dateRange]);
 
   // Calculate metrics with filtered data
-  const totalRevenue = filteredOrders.reduce((sum, order) => sum + (order?.total || 0), 0);
+  // Revenue is net of buyer refunds
+  const totalRevenue = filteredOrders.reduce((sum, order) => sum + orderNetRevenue(order), 0);
+  const totalRefunds = filteredOrders.reduce((sum, order) => sum + (order?.refundTotal || 0), 0);
   const totalPrintingCosts = filteredOrders.reduce((sum, order) => {
     return sum + getUpdatedPrintingCost(order);
   }, 0);
@@ -313,7 +315,7 @@ const Analytics = () => {
         const monthKey = `${months[monthIndex]} ${year}`;
         const current = monthlyMap.get(monthKey);
         if (current) {
-          current.revenue += order.total || 0;
+          current.revenue += orderNetRevenue(order);
         }
       }
     });
@@ -557,15 +559,18 @@ const Analytics = () => {
             <div>
               <p className="text-sm font-medium text-gray-500">Total Revenue</p>
               <p className="text-2xl font-semibold text-gray-900">${totalRevenue.toFixed(2)}</p>
+              <p className="text-xs text-gray-400 mt-0.5">net of refunds</p>
             </div>
             <div className="flex-shrink-0">
               <DollarSign className="h-8 w-8 text-green-500" />
             </div>
           </div>
           <div className="mt-2 flex items-center text-sm">
-            <TrendingUp className="w-4 h-4 text-green-500 mr-1" />
-            <span className="text-green-600 font-medium">12.5%</span>
-            <span className="text-gray-600 ml-1">vs last period</span>
+            {totalRefunds > 0 ? (
+              <span className="text-red-600">−${totalRefunds.toFixed(2)} refunded</span>
+            ) : (
+              <span className="text-gray-500">No refunds</span>
+            )}
           </div>
         </div>
 
diff --git a/client/src/store/slices/orderSlice.ts b/client/src/store/slices/orderSlice.ts
index b583f1c..67dbb2f 100644
--- a/client/src/store/slices/orderSlice.ts
+++ b/client/src/store/slices/orderSlice.ts
@@ -4,7 +4,8 @@ export interface Order {
   _id: string;
   orderNumber: string;
   total: number;
-  status: 'pending' | 'processing' | 'shipped' | 'delivered' | 'cancelled';
+  refundTotal?: number;
+  status: 'pending' | 'processing' | 'shipped' | 'delivered' | 'cancelled' | 'refunded';
   dateOrdered: string;
   customer?: {
     name: string;
diff --git a/client/src/utils/orderCalculations.ts b/client/src/utils/orderCalculations.ts
index 16fe1a5..b23ce85 100644
--- a/client/src/utils/orderCalculations.ts
+++ b/client/src/utils/orderCalculations.ts
@@ -17,6 +17,10 @@ export interface Product {
   sku?: string;
 }
 
+// Net revenue kept on an order after buyer refunds (gross total - refunds)
+export const orderNetRevenue = (order: { total?: number; refundTotal?: number }): number =>
+  Math.max(0, (order.total || 0) - (order.refundTotal || 0));
+
 // Calculate total printing cost for an order
 export const calculateOrderPrintingCost = (items: OrderItem[]): number => {
   return items.reduce((total, item) => {
diff --git a/client/src/utils/profitAnalysisService.ts b/client/src/utils/profitAnalysisService.ts
index e641619..d36bd98 100644
--- a/client/src/utils/profitAnalysisService.ts
+++ b/client/src/utils/profitAnalysisService.ts
@@ -1,10 +1,11 @@
 import { Order } from '../store/slices/orderSlice';
 import { Product } from '../store/slices/productSlice';
 import { Expense } from '../store/slices/expenseSlice';
-import { calculateOrderPrintingCost, calculateOrderProfit, enrichOrderItemsWithCosts } from './orderCalculations';
+import { calculateOrderPrintingCost, calculateOrderProfit, enrichOrderItemsWithCosts, orderNetRevenue } from './orderCalculations';
 
 export interface ProfitMetrics {
-  totalRevenue: number;
+  totalRevenue: number; // Net of buyer refunds
+  totalRefunds: number;
   totalPrintingCosts: number;
   totalExpenses: number; // Added: All expenses excluding transaction fees
   totalProfit: number;
@@ -75,6 +76,7 @@ export class ProfitAnalysisService {
     if (!orders || orders.length === 0) {
       return {
         totalRevenue: 0,
+        totalRefunds: 0,
         totalPrintingCosts: 0,
         totalExpenses: 0,
         totalProfit: 0,
@@ -87,18 +89,20 @@ export class ProfitAnalysisService {
     }
 
     let totalRevenue = 0;
+    let totalRefunds = 0;
     let totalPrintingCosts = 0;
     let profitableOrderCount = 0;
 
-    // Calculate revenue and printing costs from orders
+    // Calculate revenue (net of refunds) and printing costs from orders
     orders.forEach(order => {
-      const revenue = order.total || 0;
+      const revenue = orderNetRevenue(order);
       const enrichedItems = enrichOrderItemsWithCosts(order.items || [], products || []);
       const printingCost = calculateOrderPrintingCost(enrichedItems);
-      
+
       totalRevenue += revenue;
+      totalRefunds += order.refundTotal || 0;
       totalPrintingCosts += printingCost;
-      
+
       // Count profitable orders based on printing costs only (before expenses)
       const orderProfit = calculateOrderProfit(enrichedItems, revenue);
       if (orderProfit > 0) profitableOrderCount++;
@@ -118,6 +122,7 @@ export class ProfitAnalysisService {
 
     return {
       totalRevenue,
+      totalRefunds,
       totalPrintingCosts,
       totalExpenses,
       totalProfit,
@@ -193,7 +198,7 @@ export class ProfitAnalysisService {
       const monthKey = `${orderDate.getFullYear()}-${String(orderDate.getMonth() + 1).padStart(2, '0')}`;
       const monthName = orderDate.toLocaleDateString('en-AU', { year: 'numeric', month: 'long' });
 
-      const revenue = order.total || 0;
+      const revenue = orderNetRevenue(order);
       const enrichedItems = enrichOrderItemsWithCosts(order.items || [], products || []);
       const costs = calculateOrderPrintingCost(enrichedItems);
 
@@ -441,7 +446,7 @@ export class ProfitAnalysisService {
 
     return orders.map(order => {
       const enrichedItems = enrichOrderItemsWithCosts(order.items || [], products);
-      const revenue = order.total || 0;
+      const revenue = orderNetRevenue(order);
       const printingCosts = calculateOrderPrintingCost(enrichedItems);
       const profit = calculateOrderProfit(enrichedItems, revenue);
       const margin = revenue > 0 ? (profit / revenue) * 100 : 0;
diff --git a/server/src/models/Order.ts b/server/src/models/Order.ts
index d766d67..8e2fdad 100644
--- a/server/src/models/Order.ts
+++ b/server/src/models/Order.ts
@@ -20,6 +20,7 @@ export interface IOrder extends Document {
   shipping: number;
   tax: number;
   total: number;
+  refundTotal: number;
   status: 'pending' | 'processing' | 'shipped' | 'delivered' | 'cancelled' | 'refunded';
   paymentStatus: 'pending' | 'paid' | 'refunded' | 'failed';
   shippingAddress?: {
@@ -69,6 +70,8 @@ const OrderSchema: Schema = new Schema({
   shipping: { type: Number, default: 0 },
   tax: { type: Number, default: 0 },
   total: { type: Number, required: true, min: 0 },
+  // Amount refunded to the buyer; net revenue for the order is total - refundTotal
+  refundTotal: { type: Number, default: 0, min: 0 },
   status: {
     type: String,
     enum: ['pending', 'processing', 'shipped', 'delivered', 'cancelled', 'refunded'],
diff --git a/server/src/services/etsyApi.ts b/server/src/services/etsyApi.ts
index 73a6018..006fdf7 100644
--- a/server/src/services/etsyApi.ts
+++ b/server/src/services/etsyApi.ts
@@ -195,9 +195,15 @@ const matchProduct = (
   return undefined;
 };
 
-const mapStatus = (receipt: any): string => {
+// Sum all refunds on a receipt (each refund.amount is a Money object)
+const refundTotalOf = (receipt: any): number =>
+  (receipt.refunds || []).reduce((sum: number, r: any) => sum + money(r.amount), 0);
+
+const mapStatus = (receipt: any, refundTotal: number, total: number): string => {
   const status = String(receipt.status || '').toLowerCase();
   if (status === 'canceled') return 'cancelled';
+  // A refund covering (nearly) the whole order marks it refunded
+  if (refundTotal > 0 && refundTotal >= total - 0.01) return 'refunded';
   if (status === 'completed') return 'delivered';
   if (receipt.is_shipped) return 'shipped';
   return 'processing';
@@ -280,15 +286,18 @@ const upsertOrderFromReceipt = async (
   });
 
   const shipment = (receipt.shipments || [])[0];
+  const total = money(receipt.grandtotal);
+  const refundTotal = refundTotalOf(receipt);
 
   const orderData: any = {
     orderNumber,
     etsyOrderId: orderNumber,
-    total: money(receipt.grandtotal),
+    total,
+    refundTotal,
     subtotal: money(receipt.subtotal),
     shipping: money(receipt.total_shipping_cost),
     tax: money(receipt.total_tax_cost),
-    status: mapStatus(receipt),
+    status: mapStatus(receipt, refundTotal, total),
     paymentStatus: receipt.is_paid ? 'paid' : 'pending',
     dateOrdered: new Date((receipt.created_timestamp || receipt.create_timestamp) * 1000),
     customer: { name: receipt.name || 'Etsy Customer', email: '' },