- Wix.com Ltd WIX reported third-quarter FY21 revenue growth of 26% year-on-year to $320.8 million, beating the consensus of $315.2 million.
- Segments: Creative Subscriptions revenue increased 19% Y/Y to $241.3 million. The Creative Subscriptions collections climbed 28% Y/Y to $292.7 million.
- Creative Subscriptions ARR as of the end of Q3 was $992.3 million, up 18% Y/Y.
- Business Solutions' revenue rose 55% to $79.5 million, and the collections jumped 53% Y/Y to $80.6 million.
- The non-GAAP gross margin contracted 700 bps to 63%.
- Non-GAAP EPS loss of $(0.21) beat the consensus loss of $(0.42).
- Wix.com generated $4.3 million in operating cash flow and held $1.03 billion in cash and equivalents.
- "This quarter we recorded collections from several new B2B partnerships, most notably the technology alliance with Vistaprint that we announced in August," COO Nir Zohar said.
- "Outperformance this quarter was driven by better than expected new user additions, conversion of new users to subscriptions and average collections per subscription," noted CFO Lior Shemesh.
- Outlook: Wix.com sees Q4 revenue of $324 million - $333 million versus the consensus of $329.3 million.
- Wix.com raised the FY21 revenue guidance from $1.255 billion - $1.270 billion to $1.265 billion - $1.274 billion versus the consensus of $1.27 billion.
- Price Action: WIX shares closed lower by 1.33% at $198.22 on 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