Wix.com Ltd. reported fourth-quarter FY21 revenue growth of 16 percent year-on-year to $328.3 million, missing the consensus of $331.2 million.
Wix.com is a global SaaS platform to create, manage, and grow an online presence.
Creative Subscriptions revenue increased 15 percent Y/Y to $246.7 million. The Creative Subscriptions bookings climbed 12 percent Y/Y to $264 million.
Creative Subscriptions ARR was $1.01 billion, up 15 percent Y/Y.
Business Solutions’ revenue rose 19 percent to $81.7 million, and the bookings jumped 25 percent Y/Y to $87.5 million.
The non-GAAP gross margin contracted 300 bps to 62 percent as costs surged 24.7 percent Y/Y.
Non-GAAP EPS loss of $(0.37) beat the consensus loss of $(0.38).
Wix.com generated $21 million in operating cash flow and held $1.3 billion in cash and equivalents.
Wix.com sees Q1 2022 revenue to grow 11 percent – 13 percent Y/Y to $338 million – $343 million, below the consensus of $355.3 million. The company’s Q1 2021 saw revenue grow 41 percent y/y.
Wix.com expects the Y/Y growth of total revenue to accelerate each quarter through the end of 2022.
Avishai Abrahami, Co-founder and CEO, said, “We are putting our best foot forward to increase our growth by expanding our market leadership with self-creators, strengthening our reach through partners, and doubling down on our commerce platform.”
By Anusuya Lahiri
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