Wix raises 2015 guidance

Wix

The DIY website company now sees EBITDA adjusted profit of $5-8 million in 2015.

Just five weeks after publishing its quarterly and annual outlook, DIY website company Wix.com Ltd. (Nasdaq: WIX) has raised its 2015 guidance. The company now seens higher revenue and collections and narrower EBITDA adjusted losses in the first quarter.

Wix sees first quarter collections of $55-56 million, up from its previous prediction of $52-53 million, and revenue of $44-45 million, up from $43-44 million. The company sees EBITDA adjusted loss of $1-2 million, up from $3-4 million.

For full year 2015, Wix sees collections of $239-246 million, up from $235-242 million, and revenue of $200-204 million, up from $198-202 million. The company sees EBITDA adjusted profit of $5-8 million, up from $2-5 million.

Wix CFO Lior Shemesh said, "We generated strong growth in collections to date in the first quarter, and as a result, we are increasing our outlook for the first quarter and full year 2015. The first quarter is typically our strongest quarter of the year, and this year, our performance to date has exceeded our expectations. Product improvements as well as greater visibility of our brand have contributed to the strong results in the first quarter. These results include an acceleration in the operating leverage we are seeing in our model, which brings us closer to realizing our previously stated objective of becoming profitable on an adjusted EBITDA basis this year."

Published by Globes [online], Israel business news - www.globes-online.com - on March 18, 2015

© Copyright of Globes Publisher Itonut (1983) Ltd. 2015

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