Global SaaS platform provider to create, manage, and grow an online presence, Wix reported the company’s financial results for the fourth quarter and full-year ended December 31. Wix also shared an outlook for the first quarter of 2022. The company stated that creative subscriptions ARR surpassed $1 billion.
First-quarter financial outlook
The company states that they expect a total revenue between $338 million and $343 million, which represents an 11% to 13% increase year-over-year in the first quarter of 2022. Wix also stated that volatility in demand for services during the last year and a half due to the pandemic made it harder to forecast the business with the same level of confidence.
Fourth-quarter results:
- Total revenue in the fourth quarter of 2021 was $328.3 million, up 16% y/y
- Creative Subscriptions revenue in the fourth quarter of 2021 was $246.7 million, up 15% y/y
- Business Solutions revenue in the fourth quarter of 2021 was $81.7 million, up 19% y/y
- Partners revenue in the fourth quarter of 2021 was $73.3 million, up 53% y/y
- Creative Subscriptions ARR was $1.010 billion as of the end of the fourth quarter of 2021, an increase of 15% y/y
- Total bookings in the fourth quarter of 2021 were $351.6 million, up 15% y/y
Full-year 2021 results:
- Total revenue for the full year 2021 was $1.270 billion, up 29% y/y
- Creative Subscriptions revenue for the full year 2021 was $950.3 million, up 21% y/y
- Business Solutions revenue for the full year 2021 was $319.4 million, up 59% y/y
- Total bookings for the full year 2021 were $1.419 billion, up 29% y/y
- Creative Subscriptions bookings for the full year 2021 were $1.088 billion, up 22% y/y, including a change in unbilled contractual obligations of $66.8 million
- Business Solutions bookings for the full year 2021 were $330.9 million, up 57% y/y
- Added 478 thousand net premium subscriptions in full year 2021 to reach 6.0 million as of December 31, 2021, a 9% increase over the total number of premium subscriptions at December 31, 2020
Avishai Abrahami, Co-founder and CEO of Wix said,
« 2020 and 2021 brought unprecedented changes, challenges, and opportunities for almost every business worldwide due to uncertainty and volatility brought on by the pandemic. Now, as we enter our third year of COVID-19, the world has begun to transition once again. We exited 2021 with fundamentals of our business at much higher levels than when we entered the pandemic, positioning us for success in the coming years, and we are clear on what needs to be done to maintain this momentum. We are putting our best foot forward to increase our growth by expanding our market leadership with self-creators, strengthening our reach through partners, and doubling down on our commerce platform. »