Wix Results Presentation Deck slide image

Wix Results Presentation Deck

Free cash flow during the quarter grew to $14.8 million, or $17.5 million excluding acquisition related expenses, a significant increase from negative $2.1 million in Q1 2016. This quarter was our second highest quarterly free cash flow ever, and we generated more cash this quarter than in any prior Q1 period. Q1 is historically the low point of our fiscal year for free cash flow as we typically deploy the majority of annual investment in branding activities during the quarter - including our Super Bowl campaign in each of the past three years. We continue to generate positive free cash flow at scale due to our ability to efficiently acquire new subscriptions. Leveraging managed hosting limits our capex needs relative to our peers and provides our management greater flexibility to focus on developing the products and services that differentiate our platform. Our cash balance at the end of Q1 was $165 million compared to $172 million at the end of Q4 2016. We ended Q1 with $1.2 million in long-term debt as we transferred the balance of a long term business loan from flok as part of our acquisition agreement with the company. We ended Q1 with 1,556 employees of which 66 are from acquisitions of flok and DeviantArt made during the quarter. Our basic share count at the end of Q1 was approximately 45.2 million, and our fully diluted share count was approximately 56 million shares. This share count includes shares granted to employees from flok and DeviantArt upon the acquisition. -7- $8.4 Free Cash Flow (in $ Mn) ($2.1) Q4'15 Q1'16 $10.2 $9.4 $18.7 $14.8 Q2'16 Q3'16 Q4'16 Q1'17 Wix.com
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