Wix Results Presentation Deck
Deferred revenue
The changes in short term and long term deferred revenues on our statement of
cash flows for the six months ended June 30, 2018 will not match the differences
in these deferred revenue accounts on our balance sheet. The reason is due to
our transition to ASC 606 for revenue recognition using the modified
retrospective approach in our financial statements. Under this approach, we
allocated ~$28M in deferred revenue to retained earnings on our balance sheet
on January 1, 2018. Because this reclassification has no impact on our cash, it
does not appear in the statement of cash flows.
Financial Income and Expense
Financial income and expense is primarily comprised of two items: 1) income
related to interest earned from the investment of our cash and 2) income and
expense related to our hedging activities and exchange rate differences. Through
H1 2018, we generated ~$1.5M in interest income, and there was a net ~$0
income or expense related to hedging activities and rate differences.
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