- Wix.com Ltd WIX reported second-quarter FY21 revenue growth of 34% year-on-year to $316.4 million, beating the analyst consensus of $311.7 million.
- Segments: Creative Subscriptions revenue increased 24% Y/Y to $235.9 million. The ARR grew 22% Y/Y to $967.3 million, and the collections climbed 21% Y/Y to $263.0 million.
- Business Solutions' revenue rose 75% Y/Y to $80.5 million. The collections jumped 66% Y/Y to $79.8 million.
- The non-GAAP gross margin contracted 800 bps to 63% as the costs escalated 72.3% Y/Y. Creative Subscriptions' margin contracted 400 bps to 77%. Business Solutions' margin declined 900 bps to 23%.
- Non-GAAP EPS loss of $(0.28) beat the analyst consensus loss of $(0.37).
- Wix.com generated $21.8 million in operating cash flow and held $1.3 billion in cash and equivalents.
- CEO Avishai Abrahami emphasized the pandemic-induced uncertainty that led to a mild slowdown in creating new web presences, reflected in its financials, where it came in at the low end of its expectations.
- Outlook: Wix.com sees Q3 revenue between $311 million - 317 million, implying a 22%-25% Y/Y growth.
- It lowered the FY21 revenue guidance from $1.28 billion - 1.29 billion to $1.255 billion - 1.270 billion implying a Y/Y growth of 27%-28% versus a $1.29 billion consensus.
- Price Action: WIX shares traded lower by 8.39% at $237.72 in the premarket session on the last check Wednesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Date | ticker | name | Actual EPS | EPS Surprise | Actual Rev | Rev Surprise |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in