- Wix.com press release (NASDAQ:WIX): Q3 Non-GAAP EPS of $0.06 beats by $0.16.
- Revenue of $345.8M (+7.8% Y/Y) beats by $2.33M.
- Total revenue on a y/y constant currency basis was $350.8 million, up 10% y/y.
- Total bookings in the third quarter of 2022 were $352.5 million, down (6)% y/y.
- Total bookings on a y/y constant currency basis were $366.5 million, down (2)% y/y.
- Total non-GAAP gross margin in the third quarter of 2022 was 65%.
- Expecting a return to non-GAAP operating income profitability in Q4'22, positioning company to achieve FY23 FCF margin targets as well as full year non-GAAP operating income profitability outlined in three-year plan.
- For Q4, we expect total revenue to be $349 to $354 million vs. consensus of $351.77M, representing approximately 5 - 6% y/y growth.
- For the full year, we now expect revenue to grow 9% y/y vs. estimated growth of 8.9% Y/Y.
- We expect to generate positive non-GAAP operating income and FCF (excluding HQ capex) to meaningfully ramp to $47 to $50 million in Q4.
- We now expect FCF excluding HQ capex for the full year to be approximately 2% of revenue, within our previous guidance range.
- Our full year total revenue outlook would be ~$20 million higher, or 10-11% y/y growth.
- Our full year total bookings outlook would be ~$43 million higher.
Our full year free cash flow (excluding HQ capex), would be ~$43 million higher or ~5% of revenue, consistent with the high end of the range provided in May.