SaaS website builder platform $Wix.com (WIX.US)$ was trading more than 12% higher just before 10.00 am ET after the company reported its fiscal third-quarter 2024 results. Revenue grew 13% year over year to $444.7 million, beating the analyst consensus estimate of $444.0 million. Adjusted EPS of $1.50 beat the analyst consensus estimate of $1.43.
Creative Subscription revenue increased 10% Y/Y to $318.8 million. The Creative Subscriptions bookings climbed 15% Y/Y to $326.6 million. Creative Subscriptions ARR was $1.31 billion, up 11% Y/Y.
Partners revenue in the quarter was $155.2 million, up 30% Y/Y. Business Solutions' revenue rose 22% Y/Y to $125.8 million, and bookings jumped 17% Y/Y to $123.1 million.
The adjusted gross margin increased by 100 bps to 69%. As of September end, Wix.com generated $129.8 million in operating cash flow and held $961.2 million in cash and equivalents.
Wix Co-founder and CEO Avishai Abrahami highlighted the company's continued success this year, attributing it to a sharp focus on innovation and the strong performance of key growth initiatives. Studio, a significant growth driver, delivered outstanding results, with bookings from Studio subscriptions showing notable quarter-over-quarter acceleration. New purchases and renewals were particularly robust, with 75% of new Partner bookings coming from Studio accounts, up from the prior quarter.
Additionally, the AI onboarding process, featuring the AI Website Builder, significantly improved user experience, driving a 13% increase in conversion rates among recent Self Creator cohorts. Early results from the expanding AI business assistant suite also showed promise, enhancing conversion rates and customer care efficiency.
CFO Lior Shemesh reported another strong quarter of accelerating growth and expanding free cash flow (FCF) margins, driven by the effective execution of strategic priorities. Bookings grew to 16% year-over-year, fueled by Studio's momentum, the expanding AI product suite, solid commerce activity, and strong fundamentals. Stable operations supported sequential FCF margin growth to 29% of revenue.
Building on this solid performance, Shemesh announced an improved full-year outlook for bookings, revenue, and FCF. Second-half bookings growth is expected to reach 17% year-over-year, with an 18% growth rate anticipated by the end of 2024. These improvements reflect the success of product investments and strong customer cohorts. While surpassing the Rule of 40 this year, Shemesh expressed confidence in further growth acceleration and margin expansion in 2025 and beyond.
Wix.com expects fiscal 2024 revenue of $1.757 billion—$1.764 billion (prior $1.747 billion—$1.761 billion) vs. the consensus of $1.76 billion. Wix.com projects 2024 bookings of $1.822 billion—$1.832 billion (prior $1.802 billion—$1.822 billion).
The company expects to generate free cash flow, excluding headquarters costs, of $483 million—$488 million (prior view $460 million—$470 million).
Wix.com expects fourth-quarter revenue of $457 million—$464 million versus consensus $457.08 million.
Wix.com stock gained 56% year-to-date.
SaaS建站平台Wix.com公司(纳斯达克股票代码:WIX)公布了其2024年第三财季业绩。收入同比增长13%,达到4.447亿美元,超过了分析师普遍预期的4.44亿美元。调整后的每股收益为1.50美元,超过了分析师普遍预期的1.43美元。
创意订阅收入同比增长10%,达到3.188亿美元。创意订阅预订量同比增长15%,至3.266亿美元。创意订阅年利率为13.1亿美元,同比增长11%。
合作伙伴本季度收入为1.552亿美元,同比增长30%。商业解决方案的收入同比增长22%,至1.258亿美元,预订量同比增长17%,至1.231亿美元。
调整后的毛利率增加了100个基点至69%。截至9月底,Wix.com创造了1.298亿美元的运营现金流,并持有9.612亿美元的现金及等价物。
Wix联合创始人兼首席执行官Avishai Abrahami强调了该公司今年的持续成功,将其归因于对创新的高度关注以及关键增长计划的强劲表现。Studio是重要的增长动力,取得了优异的业绩,工作室订阅的预订量同比明显加速。新购买和续订尤其强劲,75% 的新合作伙伴预订来自工作室账户,比上一季度有所增加。
此外,以人工智能建站神器为特色的AI入门流程显著改善了用户体验,推动了最近Self Creator群体的转化率提高了13%。不断扩展的人工智能业务助手套件的早期结果也显示出希望,可以提高转化率和客户服务效率。
首席财务官Lior Shemesh报告称,在战略优先事项的有效执行的推动下,又一个强劲的季度增长加速,自由现金流(FCF)利润率扩大。受Studio的势头、不断扩展的人工智能产品套件、稳健的商务活动和强劲的基本面推动,预订量同比增长16%。稳定的运营支持FCF利润率连续增长至收入的29%。
在这一稳健表现的基础上,Shemesh宣布全年预订量、收入和FCF前景有所改善。下半年的预订量预计将同比增长17%,预计到2024年底将增长18%。这些改进反映了产品投资的成功和强大的客户群。在今年超越了40条规则的同时,谢梅什表示对2025年及以后的进一步增长加速和利润扩张充满信心。
展望:Wix.com预计2024财年的收入为17.57亿美元至17.64亿美元(之前为17.47亿美元至17.61亿美元),而市场预期为17.6亿美元。Wix.com预计,2024年的预订量为18.22亿至18.32亿美元(之前为18.02亿美元至18.22亿美元)。
该公司预计产生的自由现金流(不包括总部成本)为4.83亿美元至4.88亿美元(前值为4.6亿美元至4.7亿美元)。
Wix.com预计第四季度收入为4.57亿美元至4.64亿美元,而市场普遍收入为4.5708亿美元。
迄今为止,Wix.com的股票上涨了56%。
价格走势:WIX股价上涨12%,上周三盘前206美元。