Wix’s paying subscriber base inches forward in Q4.
Website builder Wix (NASDAQ: WIX) reported Q4 and full-year 2019 earnings today.
The company posted revenue of $204.6 million for the quarter and $761.1 million for 2019. That’s up 25% and 26% year-over-year, respectively.
Collections, which is basically a measure of cash receipts, hit $226.7 million in the fourth quarter and $832.5 million for the year. That’s up 29% and 26% year-over-year, respectively.
Numbers were stunted by the strong dollar.
Wix’s paying customer base increased by 89,000 during the fourth quarter and measured 4.5 million at the end of the year. 5.8 million people registered to use Wix services during the fourth quarter. There are now 165 million registered users, so less than 3% of registered users are active paying users.
Looking ahead to 2020, Wix forecasts revenue to increase to $946-$956 million and collections to reach $1.02-$1.035 billion.