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Wix revenue soars but stock plummets

by — Domain Registrars 0 Comments

Stock trades lower after first quarter report.

Chart showing revenue growth at Wix

Wix’s revenue was up 41% year over year in Q1 2021.

Website creator Wix (NASDAQ: WIX) reported strong growth and a narrower loss than expected in the first quarter of this year, but its stock is off 15% in trading today.

Revenue in Q1 was $304.1 million, up 41% year over year. Collections (sales) clocked in at $351.1 million, also up 41% year over year.

Wix breaks its revenue into two categories: creative subscriptions, which is basically its website builder product, and business solutions, which includes add-ons such as communications tools, payment services, and marketing products.

Creative made up the bulk of revenue in Q1 ($226.4 million) but grew at 28%, compared to 97% growth for business solutions.

While Wix and other web presence companies benefited from businesses going online during the pandemic, the company also thinks it can capture upside as the pandemic wanes. It noted that over 40% of the gross payment volume it handled in Q1 was from non-retail store businesses such as restaurants, fitness, beauty, and events.

For the second quarter, Wix anticipates year-over-year revenue growth of 30%-32% and collections growth of 29%-32%. It nudged up its full-year guidance for revenue and collections but slightly reduced its expected free cash flow range for the year.

Conspicuously absent from this quarter’s report is data on the number of new registrations and net paying subscribers, a metric included in previous quarterly press releases.

Wix now has 4.5 million paying subscribers

by — Services 2 Comments

Wix’s paying subscriber base inches forward in Q4.

Picture of stock ticker board with words "earnings announcement" below it

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.

 

Wix nets 180k paying subscribers in Q1

by — Services 0 Comments

Wix adds fewer paying customers in Q1 compared to a year ago.

Wix website builder logoWebsite builder Wix (NASDAQ: WIX) added a net 180,000 paying customers in Q1 2019, the company reported in its earnings release today. That brings the total to 4.2 million.

By comparison, it added 231,000 net paying customers in Q1 2018 and 147,000 in Q4 2018.

Wix added 6.6 million new registered users in the quarter, bringing the total to 148 million. Only about 3% of its registered users are paying customers.

Revenue for the quarter was $174.3 million, up 27% year-over-year. Collections (essentially billings) were up 26% to $200.4 million.

The company expects Q2 revenue in the $182 million – $184 million range.

Read the DNW Wix review.

Wix adds 177k paying customer in Q3, revenue up 40% YoY

by — Uncategorized 0 Comments

Website builder is also getting into the payments business.

Wix (NASDAQ: WIX) released Q3 2018 earnings yesterday.

Revenue hit $155.6 million, up 40% year-over-year. The company added 177,000 paying subscribers during the quarter, bringing its total to 3.8 million. 5.5 million users registered with Wix during the quarter. Wix converts some of these registered users into paid subscribers over time.

Collections were $163 million. That’s up 36% year-over-year but just slightly from Q1 and Q2 2018.

Wix also announced the launch of Wix Payments. It has been trialing it in Brazil and will bring it to the United States next year. I suspect adding payments became necessary after payments processor Square (NYSE: SQ) bought Weebly, one of Wix’s competitors.

Here’s a Wix website builder review from my personal experience.

Wix adds 231K paid subscribers, 5.9M registered users in Q1

by — Uncategorized 4 Comments

Site builder now has 3.4 million customers who can use a domain name with their Wix site.

Wix (NASDAQ:WIX) released earnings for the first quarter of 2018 yesterday.

The website builder company reported $137.8 million in revenue for Q1 2018, up 49% YoY. It also generated $21.4 million in free cash flow for the quarter.

The company added 5.9 million registered users during the quarter and added 231,000 net premium (i.e. paying) subscribers.

That brings its total premium base to 3.4 million.

Aside from representing Wix’s paid customer base, premium subscription numbers are important because Wix requires a premium plan in order to connect a domain name to a website. Its most basic $5/month package allows customers to connect to a domain and its $11-and-up packages include a free domain when paid annually.

Revenue from domain name registrations has historically accounted for 7% of Wix’s revenue. This equates to nearly $10 million in domain registration revenue in Q1.

The company is a reseller and does not use its own accreditations for domain registrations.

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