Wix.com Reports Q1 Miss, Revenue Slightly Above Expectations
<p><a href='https://financialmodelingprep.com/financial-summary/WIX'>Wix.com Ltd. (NASDAQ:WIX) </a>reported its Q1 results, with EPS of ($0.72) coming in worse than the Street estimate of ($0.64). Revenue was $342 million, compared to the Street estimate of $340.55 million.</p>
<p>The company provided its Q2/22 outlook, expecting revenue in the range of $342-346 million, missing the consensus estimate of $356.2 million. The FCF margin for 2022 is likely to depend on the revenue growth rate, nonetheless, the company expects it to be positive. In advance of its investor day on May 19, the company announced a target of 20% FCF margin by 2025. This, according to the analyst at Berenberg Bank, should alleviate investors’ concerns regarding profitability.</p>
<p>The company continues to see a slowdown at the top of the funnel, which may weigh on subscription growth. Moreover, in Q1, Wix Stores users were experiencing softer growth compared to a year ago due to the tough macro environment, with EU users relatively more affected than those in the U.S. </p>

NASDAQ:WIX