Wix.com Q4 Loss Widens, But Loss Per Share Narrows; Guides Q1, FY14

(RTTNews) - Wix.com Ltd. (WIX), a global web development platform, reported a wider loss in the fourth-quarter ended December 31, 2013. It also provided its financial outlook for 2014.

Net loss for the quarter was $10.9 million, or $0.45 per share, compared to a net loss of $3.4 million, or $0.63 per share, for the fourth quarter of 2012.

Non-GAAP net loss was $7.0 million, or $0.29 per share, compared to a non-GAAP net loss of $3.0 million, or $0.56 per share, for the fourth quarter of 2012.

Collections increased 82% to $30.6 million compared to $16.8 million for the fourth quarter of 2012.

Revenues increased 88% to $24.9 million compared to $13.3 million for the fourth quarter of 2012.

Analysts polled by Thomson Reuters expected the company to report a loss of $0.15 per share and revenues of $23.55 million for the fourth-quarter. Analysts' estimates typically exclude special items.

For the first quarter of 2014, revenues are expected to be in the range of $26 million to $27 million, representing year-over-year growth of 68% to 74%. Four analysts have consensus revenue estimate of $25.70 million for the quarter. Collections are expected to be in the range of $33 million to $34 million, representing year-over-year growth of 68% to 73%.

Looking ahead for the full year 2014, the company expects revenues to be in the range of $127 million to $130 million, representing year-over-year growth of 58% to 62%. Collections are expected to be in the range of $145 million to $150 million, representing year-over-year growth of 47% to 52%. Analysts project annual revenues of $122.60 million for fiscal 2014.