Why Are Squarespace Shares Trading Lower Today

Squarespace Inc SQSP reported fourth-quarter FY21 revenue growth of 20% year-on-year to $207.4 million, beating the consensus of $205.4 million.
The commerce revenue rose 45% Y/Y to $64.2 million.
Squarespace generated $15 million in operating cash flow and held $265.1 million in cash and equivalents.
"2021 was an incredible year for Squarespace that exceeded our guidance, as we delivered record revenue and total unique subscriptions," said Anthony Casalena, Founder and CEO.
"In 2021, we processed nearly $5.8 billion of GMV on our platform, a result of the selling of services, physical goods, and digital content by our diverse customer base," added Marcela Martin, CFO.
Outlook: Squarespace sees Q1 FY22 revenue of $203 million - $205 million,up 13% - 14% Y/Y, below the consensus of $216.75 million.
Squarespace sees FY22 revenue of $862 million - $878 million, up 10% - 12% Y/Y, below the consensus of $934.56 million.
Price Action: SQSP shares traded lower by 20.8% at $18.03 in the premarket on the last check Monday.