Wix.Com For 2024 Expects Total Bookings Of $1.78B-$1.81B; Sees Revenue Of $1.73B-$1.76B Vs. $1.75B Consensus. It Expects Q1 Revenue Of $415M-$419M Vs. $416.55M Consensus.
Portfolio Pulse from Benzinga Newsdesk
Wix.com forecasts for 2024 include total bookings of $1.78B-$1.81B and revenue of $1.73B-$1.76B, surpassing the consensus of $1.75B. Q1 revenue is expected to be $415M-$419M, aligning with the $416.55M consensus. The company anticipates a 12-14% year-over-year growth in bookings, with a stronger acceleration in the second half, particularly in Creative Subscription bookings. Revenue growth is expected to be 11-13% year-over-year. Wix.com also projects significant operating leverage, gross profit growth due to margin improvements, and expects to achieve GAAP profitability with a second consecutive year of GAAP net income. Free cash flow is forecasted at $370M-$400M, with capital expenditures of $7M-$10M, excluding new headquarters costs.
February 21, 2024 | 6:28 am
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Wix.com projects higher 2024 bookings and revenue, with Q1 revenue expected to align with consensus. The company anticipates year-over-year growth, operational efficiency, and profitability, including GAAP net income and strong free cash flow.
Wix.com's positive outlook for 2024, including higher bookings and revenue forecasts, operational efficiency, and expected profitability, is likely to be viewed positively by investors. The alignment of Q1 revenue with consensus and the anticipation of GAAP profitability and strong free cash flow signal a strong financial position and operational efficiency, which could lead to increased investor confidence and potentially a positive impact on the stock price in the short term.
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