Wix Results Presentation Deck
Financial Performance
The following financial results for Q1 2018 are presented under ASC 606 as well
as ASC 605 for comparability purposes. First quarter of 2017 financial results are
presented under ASC 605. A reconciliation of the first quarter 2018 results under
ASC 606 and ASC 605, as well as a reconciliation of other non-GAAP measures
discussed in this document, are presented in the tables of our Q1 2018 earnings
press release.
The following results are also presented, unless noted, using the change in
accounting we announced last quarter related to our revised agreement with
Google. Beginning in Q1 2018, we changed our method of accounting for
revenue and collections from net (agent) to gross (principal). Throughout this
document, we refer to this change as the "Google agreement accounting
change".
Revenue in Q1 was $137.8M, up 49% y/y, exceeding the high end of our
guidance range of $135-136M. Under ASC 605, Q1 revenue would have been
$134.6 million, an increase of 45% y/y
Revenue as reported in the first quarter includes a $7.3 million benefit due to
the Google agreement accounting change
Collections in Q1 were $159.7M, up 39% y/y, and exceeded the high end of our
guidance range of $157-158M.
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Higher than expected conversion and renewal rates as well as
marketing execution and brand strength were the primary drivers
of the outperformance of collections and revenue this quarter
Collections also include a $7.3 million benefit related to Google agreement
accounting change
Changes in currency rates positively impacted collections in Q1 by
approximately $4 million as the Euro and British Pound strengthened on
a y/y basis relative to the US Dollar
WIX.com
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Revenue (in millions)
$84.2
Q4'16
$92.5
$97.7
$103.5
Collections (in millions)
$111.0
$118.5
Q1'17 Q2'17 Q3'17 Q4'17 Q1'18
$114.5 $117.1 $120.1
$137.8
$132.2
$159.7
Q4'16 Q1'17 Q2'17 Q3'17 Q4'17 Q1'18View entire presentation