Business
Wix Reports Fourth Quarter and Full Year 2019 Results
- Successful year topped by accelerating growth in Q4 collections, up 29% Y/Y and up 30% Y/Y on an FX-neutral basis, and record free cash flow -- Q4'19
About this update from Wix.com Ltd.
[{"type":"text","content":"- Successful year topped by accelerating growth in Q4 collections, up 29% Y/Y and up 30% Y/Y on an FX-neutral basis, and record free cash flow\n -- Q4'19 revenue of $204.6 million, up 25% Y/Y; FY'19 revenue of $761.1 million, up 26% Y/Y\n -- Q4'19 collections of $226.7 million, up 29% Y/Y; FY'19 collections of $832.5 million, up 26% Y/Y\n -- FY'19 collections on a Y/Y FX-neutral basis were $844.5 million, up 28% Y/Y\n -- Q4'19 free cash flow of $37.5 million, up 15% Y/Y; FY'19 free cash flow of $127.5 million, up 25% Y/Y\n - Expected to surpass $1 billion in collections in 2020 -- guidance reflects success of investments in growth and strong momentum of new product initiatives\n - Introduced Editor X, the most innovative web design and creation platform giving web agencies and designers the most advanced design and layouting capabilities available today\n - Now presenting revenue, collections and cost of revenue in two segments and introducing a new KPI to provide better transparency regarding our business\n\n\nNEW YORK, Feb. 20, 2020 /PRNewswire/ -- Wix.com Ltd. (Nasdaq: WIX) today reported strong financial results for the fourth quarter and full year ended December 31, 2019. In addition, the Company provided its initial outlook for the first quarter and full year 2020.\n\n \n \n\n \n\"The fourth quarter was the culmination of a phenomenal year at Wix. We continue to evolve from a website builder to a comprehensive web creation and business solutions platform,\" said Avishai Abrahami, Co-founder and CEO of Wix. \"The unveiling of Editor X was a major milestone for Wix and has laid the groundwork for expanding our reach in the professional market in 2020. We believe that we have never been better positioned for the future.\"\nLior Shemesh, CFO of Wix, said, \"Our results in the fourth quarter closed out a record year of revenue, collections and free cash flow generation for Wix. The guidance we are providing reflects that momentum continuing into 2020 and our confidence in our ability to continue to deliver strong growth for years to come.\"\nNew Financial DisclosuresFor increased transparency, beginning this quarter we will present revenue, collections and cost of revenue in two segments: Creative Subscriptions and Business Solutions. \nIn addition, for the first time we are providing Annualized Recurring Revenue (ARR)1 as the ...