Wix.com (Nasdaq: WIX) Israeli website builder has announced results for the fourth quarter of 2020 and the full year it exceeded its guidance. Total revenue in the fourth quarter of 2020 was $ 282.5 million, compared to $ 204.6 million in the fourth quarter of 2019, an increase of 38%. On a GAAP basis, the company recorded a net loss of $ 62.8 or $ 1.13 per share during the quarter, compared to a net loss of $ 21.6 million or $ 0.42 per share for the fourth quarter of 2019. On non-GAAP Basically, the net loss was $ 1.6 million, or $ 0.03 per share, which compares to a net profit of $ 19.9 million, or $ 0.39 per share, for the fourth quarter of 2019. The median analyst estimate of loss per share was inconsistent with Generally accepted accounting principles. $ 0.11 on revenue of 270.22 million. For 2020 as a whole, revenue was $ 988.8 million, a 30% increase over $ 761.1 million for the year 2019. On a GAAP basis, Wix reported a net loss of $ 216.5 million (or $ 3.98) per share for the year. 2020, compared to a net loss of $ 86.4 million or $ 1.71 per share for 2019. On a non-GAAP basis, the net loss for 2020 is $ 24.2 million, or $ 0.44 per share, and compares with earnings of $ 59.1 million, or $ 1.17 per share for 2019. Net cash provided from operating activities for the whole of 2020 was $ 148.0 million, while total capital expenditures were $ 18.9 million, resulting in a free cash flow of $ 129.2 million, 1.3% more than the free cash flow of $ 127.5 million for 2019. Wix added 185,000 net premium subscriptions in the fourth quarter of 2020, to reach 5.5 million by the end of the quarter. 22% more than at the end of 2019. It added 7.4 million registered users in the fourth quarter of 2020, reaching 196.7 million at the end of the quarter, up 19% from the end of 2019. Wix CEO and co-founder Avishai Abrahami said We finished the most successful year in our corporate history. In 2020, more than 31 million new registered users joined Wix, we added nearly 1 million net new subscriptions, and we crossed $ 1 billion in annual collections for the first time. Humility really helps raise the profile of millions of companies during a challenging year, and I am particularly proud of our team to maintain focus and dedication throughout the year. ”Obviously, we can now become a dominant player on the Internet, and I expect us to significantly strengthen this position over the next decade. . Wix will now strive to become the main engine of the Internet, democratizing access and providing a place where the majority of people build their web presence. My goal and belief is that at this rate of growth, in the next five to seven years, 50% of anything new that is created online will be executed on Wix. “Wix recently launched its Editor X from beta and introduced a new product set of collaboration tools that allow for simultaneous editing, which it claims makes it the only fully collaborative web creation platform in the world. It says Editor X already has over 200,000 users. “Wix wanted to buy us but missed the opportunity.” Wix launched the venture capital arm Wix Capital for 2021, and Wix expects revenues of $ 1.27 to $ 1.29 billion, representing 29-30% growth over 2020. The current average analyst estimate relates to revenue Wix’s market value is $ 1.26 billion in 2021, and that the company will break even on a non-GAAP basis. The market value of Wix is $ 15.56 billion. Its share price rose sharply between the end of March and the end of June last year, and since then has been reasonably flat. $ 279.46 yesterday, down 4.56% from today Globes, Israel business news – en.globes.co.il – on February 17, 2021 © Copyright Globes Publisher Itonut (1983) Ltd. 2021
Wix results, guidance exceeds estimates
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