Wix.com Q4 loss narrows, revenue jumps on new subscriptions
TEL AVIV Feb 12 (Reuters) - Israel-based Wix.com, which helps companies build and operate websites, reported a narrower adjusted loss in the fourth quarter as revenue surged on a jump in premium subscriptions.
The company, which raised over $122 million in an initial public offering on Nasdaq in November, posted a quarterly loss excluding one time items of 29 cents per share compared with a loss of 56 cents a share a year earlier. Revenue rose 88 percent to $24.9 million, it said on Wednesday.
Analysts were expecting the company to lose 14 cents per share on revenue of $23.6 million, according to Thomson Reuters I/B/E/S.
Wix, which sells its cloud-based templates to design websites to small business owners, forecast revenue of $127-$130 million in 2014, up 58-62 percent. It expects adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) to be a loss of $38 million to $42 million.
Analysts are forecasting revenue of $122.6 million in 2014, according to Thomson Reuters I/B/E/S.
For the first quarter of 2014 Wix estimates revenue will rise 68-74 percent to $26-$27 million and adjusted EBITDA to be a loss of $13-$14 million.