Business
Wix Reports Third Quarter 2021 Results
- Collections and revenue growth exceeded expectations as key growth drivers outperformed amidst an improving business environment -- Q3'21 Revenue of $321
About this update from Wix.com Ltd.
[{"type":"text","content":"- Collections and revenue growth exceeded expectations as key growth drivers outperformed amidst an improving business environment\n -- Q3'21 Revenue of $321 million, up 26% y/y\n -- Q3'21 Collections of $373 million, up 33% y/y\n - Increasing number of businesses are relying on Wix as their full operating system\n -- Business Solutions Revenue and Collections up 55% y/y and 53% y/y, respectively\n - B2B partnerships emerging as an incremental sustainable go-to-market strategy and growth driver as companies turn to Wix to deliver technology solutions and add value to their users\n - Increasing full year outlook for revenue and collections due to confidence in recent improvements\n\n\nNEW YORK, Nov. 11, 2021 /PRNewswire/ -- Wix.com Ltd. (Nasdaq: WIX) today reported financial results for the third quarter ended September 30, 2021, highlighted by revenue and collections results ahead of expectations. In addition, the Company provided its initial outlook for the fourth quarter and raised its revenue and collections outlook for the full year. Please visit the Wix investor relations website at https://investors.wix.com/ to view the Q3'21 Shareholder Update.\n\n \n \n \n \n \n \n\n \n\"Our business outperformed our expectations this quarter as we saw improvements in the business environment. Our users are still navigating a great deal of uncertainty, but we believe the impacts have lessened. Despite this volatility, we delivered outstanding results.\" said Avishai Abrahami, Co-founder and CEO of Wix. \"We continue to layer on new monetization opportunities, and I have never been more excited about what we have coming down the pipeline.\"\nNir Zohar, President and COO of Wix, also added, \"This quarter we recorded collections from several new B2B partnerships, most notably the technology alliance with Vistaprint that we announced in August. Companies like Vistaprint are approaching us because they know that our brand and technology platform can bring massive value to their users. We believe these B2B partnerships will deliver sustainable growth over many years to come due to the ongoing financial benefits of renewals, additional new subscriptions above and beyond the agreement, and business solutions such as Ascend or Wix Payments.\"\nLior Shemesh, CFO of Wix, added, \"Outperformance this quarter was driven by better than expected new u...