Wix Q4 Net Loss Narrows, Revenues Climb; Sees Growth In Q1, FY19 Revenues

(RTTNews) - Wix.com Ltd. (WIX), a cloud-based website development platform, reported Wednesday that its fourth-quarter net loss was $5.8 million, or $0.12 per share, compared to a net loss of $6.6 million, or $0.14 per share a year ago.

Adjusted net income was $20.8 million, or $0.42 per share, compared to $7.2 million, or $0.16 per share in 2017.

Gross margin was 79%, down from 85% last year. Adjusted gross margin was 80%, compared to 85% in the fourth quarter of 2017.

Revenue grew 39 percent to $164 million from $118.55 million last year.

The company added 147,000 net premium subscriptions in the fourth quarter to reach 4.0 million as of December 31, 2018, a 24% increase over the prior year.

The fourth-quarter collections were $176 million, up 33% from last year.

Looking ahead, for the first quarter, the company expects revenue between $172 million and $173 million, a year-over-year growth of 25% to 26%, and collections between $196 million and $197 million, a growth of 23 percent.

For the full year 2019, the company expects revenue of $755 million to $761 million, up 25% to 26% from last year, and collections of $817 million to $827 million, up 24% to 26%.

Lior Shemesh, CFO of Wix, said, "Our 2019 outlook reflects continued growth from existing and new products as we plan to make additional investments this year to bring these new products to market and expand into new markets.... We believe this new initiative along with new products and the expansion of our addressable market will continue to deliver strong growth for years to come."