{"id":526387,"date":"2021-08-11T01:03:15","date_gmt":"2021-08-11T05:03:15","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/wix-reports-second-quarter-2021-results\/"},"modified":"2021-08-11T01:03:15","modified_gmt":"2021-08-11T05:03:15","slug":"wix-reports-second-quarter-2021-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/wix-reports-second-quarter-2021-results\/","title":{"rendered":"Wix Reports Second Quarter 2021 Results"},"content":{"rendered":"
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– Growth of revenue and collections in Q2’21 reflect continued demand for creation and success of -businesses on Wix<\/h2>\n

— Q2’21 Revenue of $316 million, up 34% y\/y<\/h2>\n

— Q2’21 Collections of $343 million, up 29% y\/y<\/h2>\n

– Sustained user cohort collections growth driven by continued high levels of new users, strong retention and higher conversion and monetization<\/h2>\n

– More businesses continue to use Wix to create, manage and grow their online presence, with an increasing number depending on us as their full operating system<\/h2>\n

— Online commerce accounted for 35% of Q2’21 total collections, up from 33% in Q1’21<\/h2>\n

— Business Solutions Revenue and Collections up 75% y\/y and 66% y\/y, respectively<\/h2>\n

– Announced significant partnership with Vistaprint, becoming the technology layer for millions of Vistaprint customers globally to create, manage and grow their businesses online, demonstrating Wix’s product innovation leadership and bringing Wix a step closer to its goal of becoming the primary platform for online creation<\/h2>\n

PR Newswire<\/p>\n<\/p><\/div>\n

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\n NEW YORK<\/span>, Aug. 11, 2021<\/span> \/PRNewswire\/ —\u00a0Wix.com<\/a><\/u>\u00a0Ltd. (Nasdaq: WIX) today reported financial results for the second quarter ended June 30, 2021<\/span>. In addition, the Company provided its initial outlook for the third quarter. Please visit the Wix investor relations website at https:\/\/investors.wix.com\/<\/a><\/u> to view the Q2’21 Shareholder Update.<\/p>\n

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“As the story of the pandemic continues to evolve, there is an uncertainty whether we are at the end of it, or if there is a massive new wave coming again. For our users, this uncertainty means that they don’t know if they should create new online or offline stores, services and events. The result of this uncertainty, for us, is a mild slowdown in the creation of new web presences, which is reflected in our financials, where we came in at the low end of our expectations,” said Avishai Abrahami<\/span>, Co-founder and CEO of Wix. “As our users and the world are navigating a great deal of uncertainty, it is more essential than ever that we remain focused on our north star goal of becoming the main engine of the internet, democratizing access and providing a place for the majority of people to build their online presence.” <\/p>\n

\n Lior Shemesh<\/span>, CFO of Wix, added, “Our second quarter results showed stronger growth than pre-pandemic quarters, although we did face more headwinds in the back half of the quarter than we expected. User growth remained elevated compared to 2019, renewals remained strong and conversion and monetization per subscription were solid – all encouraging signs of strong underlying fundamentals.<\/p>\n

We are adjusting our expectations for the remainder of this year to account for continued uncertainty around the pandemic as well as the timing of B2B partnership agreements. Our ambitions have not changed, and we remain well-positioned to become the primary online platform for all users and businesses.” <\/p>\n

Regarding the recently announced technology alliance with Vistaprint, Nir Zohar, President and COO, said, “We are excited to join Vistaprint in empowering small businesses to build a complete, professional digital presence with capabilities to manage, grow and succeed. This partnership demonstrates the robustness of Wix’s products for all types of users and all types of businesses and is a testament to our many years of investing in technology, product development and our brand. Just as Amazon and Google have become the technology layer for the cloud, Wix is striving to become the technology layer for online creation, and this alliance is evidence that we are on our way to achieving this goal.”<\/p>\n

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\n Q2’21 Financial Results<\/p>\n

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