Wix Results Presentation Deck
For 2017, we expect the following:
Revenue in the range of $409 to $411 million, an increase of 41% to
42% year over year
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Collections in the range of $452 to $458 million, representing annual
growth of 32% to 34%
Free Cash Flow of $71 to $72 million. As a percent of collections, free
cash flow is expected to be 16% in 2017 compared to 11% in 2016.
We will no longer report adjusted EBITDA beginning in Q1 2017. We will
provide guidance for free cash flow and other cash flow items for the
full year and may update our full year guidance each quarter as
necessary. We believe evaluating our business based on our ability to
generate top line growth and free cash flow is most appropriate
Non-GAAP gross margin of approximately 87% of collections
Non-GAAP S&M expense to be approximately 40% to 41% of
collections, and total non-GAAP operating expenses to be
approximately 70% to 71% of collections for the full year
Annual stock-based compensation expense of approximately $39
million for the full year, capex of roughly $6 million, acquisition-related
costs of roughly $2 million, and depreciation expense of approximately
1% of collections
We expect our basic share count will be approximately 48 to 49 million
shares outstanding at year end and our fully diluted share count will be
roughly 57 to 58 million shares outstanding
2017 Non-GAAP Financial Outlook
2016A
$290
43%
$342
42%
87%
44%
76%
1%
$43
12%
$4
$3
$36
11%
$28
GAAP Revenue
% Y/Y
Collections
% Y/Y
Gross Margin (% collections)
S&M (% collections)
OpEx (% collections)
Depreciation (% collections)
Adjusted EBITDA
% Collections
Less: CapEx
Less: Acq. Related Costs
Free Cash Flow
% Collections
SBC Expense
Basic Shares O/S
Fully Diluted Shares O/S
(In $ millions)
44mn
2017E Q1'17E
$409-411 $89-90
45-46%
41-42%
$452-458 $107-109
41-44%
32-34%
~87%
40-41%
70-71%
~1%
$79-80¹
17%
~$6-7
~$2
$71-72
16%
~$39-40
48-49mn
57-58mn
~46%
¹ Going forward after this earnings release, we will no longer report Adjusted EBITDA as a key
metric. Going forward, we will report and provide annual guidance for Free Cash Flow only.
The Adjusted EBITDA figure provided here will be done so for the last time and is by reference
only in order to aid investors in the transition between our use of Adjusted EBITDA and Free
Cash Flow
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