Wix.com (WIX) Tops Q4 EPS by 54c, Beats on Revenue; Offers FY23 Revenue Guidance
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Wix Reports Fourth Quarter and Full Year 2022 Results
February 22, 2023 1:00 AM ESTFinished 2022 ahead of guidance, with total revenue of $355.0 million in the fourth quarter, up 6% y/y; total revenue was $361.4 million and up 8% y/y on a constant currency basisQ4'22 was the most profitable FCF quarter in Wix history with FCF1 of $52.0 million, ahead of guidanceCost efficiencies expected to generate an additional $50 million of savings in 2023 (~$65 million annualized), accelerating path to profitabilityCreative Subscriptions non-GAAP gross margin expected to reach 80% in FY 2023Expecting FCF1 margin of 10-11% of revenue for full year 2023, increasing each quarter and... More
