- Squarespace Inc (NYSE: SQSP) reported fourth-quarter FY21 revenue growth of 20% year-on-year to $207.4 million, beating the consensus of $205.4 million.
- The commerce revenue rose 45% Y/Y to $64.2 million.
- Squarespace generated $15 million in operating cash flow and held $265.1 million in cash and equivalents.
- "2021 was an incredible year for Squarespace that exceeded our guidance, as we delivered record revenue and total unique subscriptions," said Anthony Casalena, Founder and CEO.
- "In 2021, we processed nearly $5.8 billion of GMV on our platform, a result of the selling of services, physical goods, and digital content by our diverse customer base," added Marcela Martin, CFO.
- Outlook: Squarespace sees Q1 FY22 revenue of $203 million - $205 million,up 13% - 14% Y/Y, below the consensus of $216.75 million.
- Squarespace sees FY22 revenue of $862 million - $878 million, up 10% - 12% Y/Y, below the consensus of $934.56 million.
- Price Action: SQSP shares traded lower by 20.8% at $18.03 in the premarket on the last check Monday.
Read at Benzinga