Wix +1% on Q1 revenue beat, raised outlook

|About: Wix.com Ltd. (WIX)|By:, SA News Editor

Wix (NASDAQ:WIX+1.1% after Q1 results that beat revenue estimates with 27% Y/Y growth and missed on EPS. Collections revenue grew 26% Y/Y to $200.4M.

In-line Q2 guidance has revenue of $182-184M (consensus: $183.72M) and Collections of $197M to $199M. Raised FY19 guidance has $758-763M in revenue (consensus: $759.83M) with Collections revenue of $822-830M.

Registered user growth was 6.6M with a net add of 180K premium subscriptions.

Cash from operating activities totaled $35M (+42%) with FCF of $30M (+40%).

Non-GAAP gross margin was 78%, down two percentage points on the year.

Wix will increase its investments in its Customer Solutions to build out the infrastructure and extend the service internationally. Wix expects the push to drive incremental collections growth of 5% in 2020, or 3x the investment.

Earnings call starts at 8:30 AM with a webcast here.

Press release.

Previously: Wix.com misses by $0.05, beats on revenue (May 16)

Subscribe for full text news in your inbox