Squarespace Announces Fourth Quarter and Full Year 2023 Financial Results and $500 Million Share Repurchase Authorization
Revenue Increased 18% in the Fourth Quarter and 17% for the Full Year 2023, Topping
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Fourth Quarter 2023 Financial Highlights
- Total revenue grew 18% year over year to
$270.7 million in the fourth quarter, compared with$228.8 million in the fourth quarter of 2022, and 16% in constant currency.- Presence revenue grew 20% year over year to
$188.4 million and 18% in constant currency. - Commerce revenue grew 14% year over year to
$82.3 million and 13% in constant currency.
- Presence revenue grew 20% year over year to
- Net income totaled
$5.3 million , compared with a net loss of$234.0 million in the fourth quarter 2022. The 2022 result included a$225.2 million non-cash goodwill impairment charge. Excluding the impairment charge, net loss for the fourth quarter of 2022 was$8.8 million . - Earnings per share totaled
$0.04 based on 136,153,002 basic and 139,387,350 dilutive weighted average shares in the fourth quarter, compared with a loss per share of$1.72 based on 136,340,283 basic and dilutive weighted average shares in the fourth quarter of 2022. - Cash flow from operating activities increased 56% to
$61.1 million for the three months endedDecember 31, 2023 , compared with$39.1 million for the three months endedDecember 31, 2022 . - Total bookings grew 23% year over year to
$286.1 million in the fourth quarter, compared to$232.1 million in the fourth quarter of 2022. - Unlevered free cash flow increased 57% to
$65.0 million representing 24% of total revenue for the three months endedDecember 31, 2023 , compared with$41.5 million for the three months endedDecember 31, 2022 . - Adjusted EBITDA increased to
$64.7 million in the fourth quarter, compared with$63.1 million in the fourth quarter of 2022.
Full Year 2023 Financial Highlights
- Total revenue grew 17% year over year to
$1,012.3 million in 2023, compared with$867.0 million in 2022, and 16% in constant currency.- Presence revenue grew 18% year over year to
$704.3 million and 17% in constant currency. - Commerce revenue grew 14% year over year to
$308.0 million and 14% in constant currency.
- Presence revenue grew 18% year over year to
- Net loss was
$7.1 million , compared with a net loss of$252.2 million in 2022. The 2022 result included a$225.2 million non-cash goodwill impairment charge. Excluding the impairment charge, net loss for the full year 2022 was$27.1 million . - Loss per share of
$0.05 based on 135,531,363 basic and dilutive weighted average shares in 2023, compared with a loss per share of$1.82 based on 138,409,491 basic and dilutive weighted average shares in 2022. - Cash flow from operating activities increased 41% to
$231.1 million in 2023, compared with$164.2 million in 2022. - Total bookings grew 19% year over year to
$1,075.1 million in 2023, compared to$906.1 million in 2022. - Unlevered free cash flow increased 46% to
$241.0 million representing 24% of total revenue in 2023, compared with$165.6 million in 2022. - Adjusted EBITDA increased to
$235.4 million in 2023, compared with$147.5 million in 2022. - Cash and cash equivalents at year-end 2023 of
$257.7 million ; total debt was$568.8 million , of which$49.0 million is current, debt net of cash and investments totaled$311.1 million . - Total unique subscriptions increased 10% year over year to over 4.6 million in 2023, compared to 4.2 million in 2022.
- Average revenue per unique subscription ("ARPUS") increased 9% year over year to
$228.02 in 2023, compared to$209.16 in 2022. - Annual run rate revenue ("ARRR") grew 19% year over year to
$1,105.7 million in 2023, compared to$931.7 million in 2022.
A reconciliation of GAAP to non-GAAP financial measures has been provided in the tables included in this press release. An explanation of these measures is also included below under the heading "Non-GAAP Financial Measures."
2023 Business Highlights
Product Innovation
- Relaunched Squarespace Domains with a more complete domain management experience for domain-first customers following our acquisition of
Google Domains Assets. - Launched Squarespace Payments, which fully integrates with our customers' online stores to accept fast and secure payments and provides a seamless purchase experience for their customers all in one place.
- Unveiled Squarespace Blueprint, our guided website design system that provides professionally-curated layouts and styling options.
- Advanced Acuity Scheduling's platform technologies and introduced new branding to help streamline the client booking experience with a centralized dashboard, mobile app tools, and payment features.
- Invested in Squarespace AI to make it easier than ever for users to generate custom content. Generative AI integrations help populate websites, email campaigns, and commerce store descriptions, enabling customers to efficiently publish and specialize content for their brand identity.
- Released our annual compilation of new products and features, Squarespace Refresh, where we showcased new tools spanning commerce, client invoicing, courses, email marketing, enterprise customer collaboration, and more.
- Enhanced Tock's User System with a new iOS app and new reservation features, and integrated Reserve with
Google to help Tock customers increase their visibility and drive diners to their businesses. - Established a partnership with SoundCloud to bring SoundCloud Next Pro artists the opportunity to create a beautiful website with unique, music-themed domains.
Marketing & Brand
Our marketing investments, design-centric ethos, and go-to-market channels bolster our brand recognition and keep
- Continued to globalize our product suite by increasing our currency options by 5x.
- Introduced the second edition of Squarespace Collection (formerly Squarespace Icons) with Magnum Photos, where we partnered with six world renowned photographers to create signature website designs inspired by each photographer's creativity and built on our website editor, Fluid Engine™.
- Teamed up with
Adam Driver for our 9th Big Game campaign, "The Singularity," where we honored Squarespace's founding history as a pioneer in website building. - Hosted our second Circle Day where we engaged thousands of members of our Circle partner program from around the world. Members shared advice and strategies on how to leverage strengths, skills, and connections to expand every web designer's professional toolkit.
- Received multiple
Fast Company awards, includingFast Company's Most Innovative Companies and Innovation by Design, won two Webby Awards and our Big Game commercial won top honors from ADC, AICP,Cannes Lions , Ciclope, D&AD and the One Show.
Corporate
- Acquired
Google 's Domains business, representing millions of domains, and established an exclusive reseller agreement for any customer purchasing a domain along with theirGoogle Workspace subscription fromGoogle directly. - Won multiple awards recognizing the excellence of our organization including Comparably's Best Places to Work in
New York . - Celebrated our 20th anniversary; across two decades the
Squarespace platform has been used by millions to build beautiful brands and businesses online. - Returned approximately $26.0 million to shareholders under our share repurchase program as of
December 31, 2023 , which represents approximately 1.3 million shares.
Share Repurchase Program
Outlook & Guidance
For the first quarter of fiscal year 2024,
- Revenue of
$274 million to$277 million , or year-over-year growth of 16% to 17%. - Non-GAAP unlevered free cash flow of
$83 million to$86 million . This is the result of:- Cash flow from operating activities of
$77 million to$81 million , minus - Capital expenditures, expected to be approximately
$2 million to$3 million ; plus - Cash paid for interest expense net of associated tax benefit, expected to be approximately
$8 million .
- Cash flow from operating activities of
For the full fiscal year 2024,
- Revenue of
$1,170 million to$1,190 million , or year-over-year growth of 16% to 18%, which includes contributions in the range of$85 million to$88 million related to our acquisition ofGoogle Domains Assets. - Non-GAAP unlevered free cash flow of
$290 million to$310 million . This is the result of:- Cash flow from operating activities of
$266 million to$288 million , minus - Capital expenditures, expected in the range of
$4 million to$6 million ; plus - Cash paid for interest expense net of associated tax benefit, expected to be approximately
$28 million .
- Cash flow from operating activities of
Webcast Conference Call & Shareholder Letter Information
Non-GAAP Financial Measures
Revenue growth in constant currency is being provided to increase transparency and align our disclosures with companies in our industry that receive material revenues from international sources. Revenue constant currency has been adjusted to exclude the effect of year-over-year changes in foreign currency exchange rate fluctuations. We believe providing this information better enables investors to understand our operating performance irrespective of currency fluctuations.
We calculate constant currency information by translating current period results from entities with foreign functional currencies using the comparable foreign currency exchange rates from the prior fiscal year. To calculate the effect of foreign currency translation, we apply the same weighted monthly average exchange rate as the comparative period. Our definition of constant currency may differ from other companies reporting similarly named measures, and these constant currency performance measures should be viewed in addition to, and not as a substitute for, our operating performance measures calculated in accordance with GAAP.
Adjusted EBITDA is a supplemental performance measure that our management uses to assess our operating performance. We calculate adjusted EBITDA as net income/(loss) excluding interest expense, other income/(loss), net (provision for)/benefit from income taxes, depreciation and amortization, stock-based compensation expense and other items that we do not consider indicative of our ongoing operating performance.
Unlevered free cash flow is a supplemental liquidity measure that
Adjusted EBITDA, unlevered free cash flow and revenue constant currency are not prepared in accordance with generally accepted accounting principles in
Further information on these non-GAAP items and reconciliation to their closest GAAP measure is provided below under, "Reconciliation of Non-GAAP Financial Measures."
Definitions of Key Operating Metrics
On
Annual run rate revenue ("ARRR"). We calculate ARRR as the monthly revenue from subscription fees and revenue generated in conjunction with associated fees (fees taken or assessed in conjunction with commerce transactions) in the last month of the period multiplied by 12. We believe that ARRR is a key indicator of our future revenue potential. However, ARRR should be viewed independently of revenue, and does not represent our GAAP revenue on an annualized basis, as it is an operating metric that can be impacted by subscription start and end dates and renewal rates. ARRR is not intended to be a replacement or forecast of revenue.
Unique subscriptions represent the number of unique sites, standalone scheduling subscriptions, Unfold (social) and hospitality subscriptions, as of the end of a period. A unique site represents a single subscription and/or group of related subscriptions, including a website subscription and/or a domain subscription, and other subscriptions related to a single website or domain. Every unique site contains at least one domain subscription or one website subscription. For instance, an active website subscription, a custom domain subscription and a Google Workspace subscription that represent services for a single website would count as one unique site, as all of these subscriptions work together and are in service of a single entity's online presence. Unique subscriptions do not account for one-time purchases in Unfold or for hospitality services nor do they account for our Acquired Domain Assets. The total number of unique subscriptions is a key indicator of the scale of our business and is a critical factor in our ability to increase our revenue base.
Average revenue per unique subscription ("ARPUS"). We calculate ARPUS as the total revenue during the preceding 12-month period divided by the average of the number of total unique subscriptions at the beginning and end of the period. ARPUS does not account for Acquired Domain Assets or the revenue from Acquired Domain Assets. We believe ARPUS is a useful metric in evaluating our ability to sell higher-value plans and add-on subscriptions.
Total bookings represents cash receipts for all subscriptions purchased, as well as payments due under the terms of contractual agreements for obligations to be fulfilled.
Gross merchandise value ("GMV") represents the value of physical goods, content and time sold, including hospitality services, net of refunds, on our platform over a given period of time.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are forward-looking statements. These statements include, but are not limited to, statements regarding
About
Contacts
Investors
investors@squarespace.com
Media
press@squarespace.com
CONSOLIDATED STATEMENTS OF OPERATIONS |
|||||||
|
|||||||
|
Three Months Ended |
|
Years Ended |
||||
|
2023 |
|
2022 |
|
2023 |
|
2022 |
Revenue |
$ 270,718 |
|
$ 228,812 |
|
$ 1,012,336 |
|
$ 866,972 |
Cost of revenue(1) |
69,650 |
|
40,106 |
|
207,520 |
|
152,655 |
Gross profit |
201,068 |
|
188,706 |
|
804,816 |
|
714,317 |
Operating expenses: |
|
|
|
|
|
|
|
Research and product development(1) |
61,715 |
|
56,828 |
|
242,188 |
|
227,297 |
Marketing and sales(1) |
91,513 |
|
66,154 |
|
349,574 |
|
322,051 |
General and administrative(1) |
29,922 |
|
37,942 |
|
129,326 |
|
151,620 |
Impairment charge |
— |
|
225,163 |
|
— |
|
225,163 |
Total operating expenses |
183,150 |
|
386,087 |
|
721,088 |
|
926,131 |
Operating income/(loss) |
17,918 |
|
(197,381) |
|
83,728 |
|
(211,814) |
Interest expense |
(10,718) |
|
(7,230) |
|
(36,768) |
|
(18,207) |
Other (loss)/income, net |
(4,163) |
|
(9,567) |
|
3,362 |
|
5,030 |
Income/(loss) before benefit from/(provision for) income |
3,037 |
|
(214,178) |
|
50,322 |
|
(224,991) |
Benefit from/(provision for) income taxes |
2,219 |
|
(19,784) |
|
(57,403) |
|
(27,230) |
Net income/(loss) |
$ 5,256 |
|
$ (233,962) |
|
$ (7,081) |
|
$ (252,221) |
|
|
|
|
|
|
|
|
Net income/(loss) per share, basic and dilutive |
$ 0.04 |
|
$ (1.72) |
|
$ (0.05) |
|
$ (1.82) |
Weighted-average shares used in computing net income/ |
136,153,002 |
|
136,340,283 |
|
135,531,363 |
|
138,409,491 |
Weighted-average shares used in computing net income/ |
139,387,350 |
|
136,340,283 |
|
135,531,363 |
|
138,409,491 |
|
|||||||
(1) Includes stock-based compensation as follows: |
|||||||
|
Three Months Ended |
|
Years Ended |
||||
|
2023 |
|
2022 |
|
2023 |
|
2022 |
Cost of revenue |
$ 1,451 |
|
$ 944 |
|
$ 5,536 |
|
$ 3,414 |
Research and product development |
13,868 |
|
11,099 |
|
54,806 |
|
42,237 |
Marketing and sales |
2,921 |
|
2,450 |
|
10,856 |
|
8,696 |
General and administrative |
9,587 |
|
12,989 |
|
36,551 |
|
48,186 |
Total stock-based compensation |
$ 27,827 |
|
$ 27,482 |
|
$ 107,749 |
|
$ 102,533 |
CONSOLIDATED BALANCE SHEETS |
|||
|
|||
|
|
|
|
Assets |
|
|
|
Current assets: |
|
|
|
Cash and cash equivalents |
$ 257,702 |
|
$ 197,037 |
Restricted cash |
36,583 |
|
35,583 |
Investment in marketable securities |
— |
|
31,757 |
Accounts receivable |
24,894 |
|
10,748 |
Due from vendors |
6,089 |
|
4,442 |
Prepaid expenses and other current assets |
48,947 |
|
48,326 |
Total current assets |
374,215 |
|
327,893 |
Property and equipment, net |
58,211 |
|
51,633 |
Operating lease right-of-use assets |
77,764 |
|
86,824 |
|
210,438 |
|
210,438 |
Intangible assets, net |
190,103 |
|
42,808 |
Other assets |
11,028 |
|
10,921 |
Total assets |
$ 921,759 |
|
$ 730,517 |
Liabilities, Redeemable Convertible Preferred Stock and Stockholders' Deficit |
|
|
|
Current liabilities: |
|
|
|
Accounts payable |
$ 12,863 |
|
$ 12,987 |
Accrued liabilities |
99,435 |
|
64,360 |
Deferred revenue |
333,191 |
|
269,689 |
Funds payable to customers |
42,672 |
|
38,845 |
Debt, current portion |
48,977 |
|
40,758 |
Operating lease liabilities, current portion |
12,640 |
|
11,514 |
Total current liabilities |
549,778 |
|
438,153 |
Deferred income taxes, non-current portion |
1,039 |
|
788 |
Debt, non-current portion |
519,816 |
|
473,167 |
Operating lease liabilities, non-current portion |
97,714 |
|
110,169 |
Other liabilities |
13,764 |
|
11,231 |
Total liabilities |
1,182,111 |
|
1,033,508 |
Commitments and contingencies |
|
|
|
Redeemable convertible preferred stock, par value of |
— |
|
— |
Preferred stock, par value of |
— |
|
— |
Stockholders' deficit: |
|
|
|
Class A common stock, par value of |
9 |
|
8 |
Class B common stock, par value of |
5 |
|
5 |
Class C common stock (authorized |
— |
|
— |
Class C common stock (authorized |
— |
|
— |
Additional paid in capital |
924,634 |
|
875,737 |
Accumulated other comprehensive loss |
(843) |
|
(1,665) |
Accumulated deficit |
(1,184,157) |
|
(1,177,076) |
Total stockholders' deficit |
(260,352) |
|
(302,991) |
Total liabilities, redeemable convertible preferred stock and stockholders' deficit |
$ 921,759 |
|
$ 730,517 |
CONSOLIDATED STATEMENTS OF CASH FLOWS |
|||
|
|||
|
Years Ended |
||
|
2023 |
|
2022 |
OPERATING ACTIVITIES: |
|
|
|
Net loss |
$ (7,081) |
|
$ (252,221) |
Adjustments to reconcile net loss to net cash provided by operating activities: |
|
|
|
Depreciation and amortization |
43,927 |
|
31,617 |
Stock-based compensation |
107,749 |
|
102,533 |
Impairment charge |
— |
|
225,163 |
Deferred income taxes |
251 |
|
788 |
Non-cash lease (income)/expense |
(2,286) |
|
2,227 |
Other |
831 |
|
832 |
Changes in operating assets and liabilities: |
|
|
|
Accounts receivable and due from vendors |
(15,678) |
|
(5,461) |
Prepaid expenses and other current assets |
(458) |
|
3,699 |
Accounts payable and accrued liabilities |
33,519 |
|
(2,215) |
Deferred revenue |
61,364 |
|
39,464 |
Funds payable to customers |
3,827 |
|
8,707 |
Other operating assets and liabilities |
5,152 |
|
9,086 |
Net cash provided by operating activities |
231,117 |
|
164,219 |
INVESTING ACTIVITIES: |
|
|
|
Proceeds from the sale and maturities of marketable securities |
39,664 |
|
27,193 |
Purchases of marketable securities |
(7,824) |
|
(27,681) |
Cash paid for acquisitions, net of acquired cash |
(176,721) |
|
— |
Purchase of property and equipment |
(16,998) |
|
(11,543) |
Net cash used in operating activities |
(161,879) |
|
(12,031) |
FINANCING ACTIVITIES: |
|
|
|
Borrowings on Term Loan |
99,444 |
|
— |
Payments of debt issuance costs |
(637) |
|
— |
Principal payments on debt |
(44,867) |
|
(13,586) |
Payments for repurchase and retirement of Class A common stock |
(25,989) |
|
(120,193) |
Taxes paid related to net share settlement of equity awards |
(36,366) |
|
(21,268) |
Proceeds from exercise of stock options |
228 |
|
2,211 |
Net cash used in financing activities |
(8,187) |
|
(152,836) |
Effect of exchange rate changes on cash, cash equivalents and restricted cash |
614 |
|
(412) |
Net increase/(decrease) in cash, cash equivalents and restricted cash |
61,665 |
|
(1,060) |
Cash, cash equivalents and restricted cash at the beginning of the period |
232,620 |
|
233,680 |
Cash, cash equivalents and restricted cash at the end of the period |
$ 294,285 |
|
$ 232,620 |
|
|
|
|
Reconciliation of cash, cash equivalents and restricted cash: |
|
|
|
Cash and cash equivalents |
$ 257,702 |
|
$ 197,037 |
Restricted cash |
36,583 |
|
35,583 |
Cash, cash equivalents and restricted cash at the end of the period |
$ 294,285 |
|
$ 232,620 |
|
|
|
|
SUPPLEMENTAL DISCLOSURE OF CASH FLOW |
|
|
|
Cash paid during the year for interest |
$ 35,668 |
|
$ 17,088 |
Cash paid during the year for income taxes, net of refunds |
$ 41,747 |
|
$ 10,664 |
|
|
|
|
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES |
|
|
|
Purchases of property and equipment included in accounts payable and accrued liabilities |
$ 129 |
|
$ 1,784 |
Accrued taxes related to net share settlement of equity awards |
$ 377 |
|
$ 176 |
Non-cash leasehold improvements |
$ — |
|
$ (5,864) |
Capitalized stock-based compensation |
$ 3,940 |
|
$ 980 |
RECONCILIATIONS OF NON-GAAP FINANCIAL MEASURES |
|||||||
|
|||||||
The following tables reconcile each non-GAAP financial measure to its most directly comparable GAAP financial |
|||||||
|
|||||||
|
Three Months Ended |
|
Years Ended |
||||
|
2023 |
|
2022 |
|
2023 |
|
2022 |
Net income/(loss) |
$ 5,256 |
|
$ (233,962) |
|
$ (7,081) |
|
$ (252,221) |
Interest expense |
10,718 |
|
7,230 |
|
36,768 |
|
18,207 |
(Benefit from)/provision for income taxes |
(2,219) |
|
19,784 |
|
57,403 |
|
27,230 |
Depreciation and amortization |
18,952 |
|
7,844 |
|
43,927 |
|
31,617 |
Stock-based compensation expense |
27,827 |
|
27,482 |
|
107,749 |
|
102,533 |
Other loss/(income), net |
4,163 |
|
9,567 |
|
(3,362) |
|
(5,030) |
Impairment charge |
— |
|
225,163 |
|
— |
|
225,163 |
Adjusted EBITDA |
$ 64,697 |
|
$ 63,108 |
|
$ 235,404 |
|
$ 147,499 |
|
|||||||
|
Three Months Ended |
|
Years Ended |
||||
|
2023 |
|
2022 |
|
2023 |
|
2022 |
Cash flows from operating activities |
$ 61,090 |
|
$ 39,102 |
|
$ 231,117 |
|
$ 164,219 |
Cash paid for capital expenditures |
(3,857) |
|
(2,691) |
|
(16,998) |
|
(11,543) |
Free cash flow |
$ 57,233 |
|
$ 36,411 |
|
$ 214,119 |
|
$ 152,676 |
Cash paid for interest, net of the associated tax |
7,788 |
|
5,105 |
|
26,894 |
|
12,874 |
Unlevered free cash flow |
$ 65,021 |
|
$ 41,516 |
|
$ 241,013 |
|
$ 165,550 |
|
|||||||
|
|
|
|
|
|
|
|
Total debt outstanding |
|
|
|
|
$ 568,793 |
|
$ 513,925 |
Less: total cash and cash equivalents and marketable securities |
|
|
257,702 |
|
228,794 |
||
Total net debt |
|
|
|
|
$ 311,091 |
|
$ 285,131 |
|
|||||||
|
Three Months Ended |
|
Years Ended |
||||
|
2023 |
|
2022 |
|
2023 |
|
2022 |
Revenue, as reported |
$ 270,718 |
|
$ 228,812 |
|
$ 1,012,336 |
|
$ 866,972 |
Revenue year-over-year growth rate, as reported |
18.3 % |
|
10.3 % |
|
16.8 % |
|
10.6 % |
Effect of foreign currency translation ( |
$ 4,664 |
|
$ (8,252) |
|
$ 7,010 |
|
$ (28,318) |
Effect of foreign currency translation (%)(1) |
2.0 % |
|
(4.0) % |
|
0.8 % |
|
(3.6) % |
Revenue constant currency growth rate |
16.3 % |
|
14.3 % |
|
16.0 % |
|
14.2 % |
|
|||||||
|
Three Months Ended |
|
Years Ended |
||||
|
2023 |
|
2022 |
|
2023 |
|
2022 |
Commerce revenue, as reported |
$ 82,285 |
|
$ 71,983 |
|
$ 307,987 |
|
$ 269,672 |
Revenue year-over-year growth rate, as reported |
14.3 % |
|
12.1 % |
|
14.2 % |
|
17.5 % |
Effect of foreign currency translation ( |
$ 796 |
|
$ (1,451) |
|
$ 1,204 |
|
$ (4,960) |
Effect of foreign currency translation (%)(1) |
1.1 % |
|
(2.3) % |
|
0.4 % |
|
(2.2) % |
Commerce constant currency growth rate |
13.2 % |
|
14.4 % |
|
13.8 % |
|
19.7 % |
|
|||||||
|
Three Months Ended |
|
Years Ended |
||||
|
2023 |
|
2022 |
|
2023 |
|
2022 |
Presence revenue, as reported |
$ 188,433 |
|
$ 156,829 |
|
$ 704,349 |
|
$ 597,300 |
Revenue year-over-year growth rate, as reported |
20.2 % |
|
9.5 % |
|
17.9 % |
|
7.7 % |
Effect of foreign currency translation ( |
$ 3,867 |
|
$ (6,801) |
|
$ 5,806 |
|
$ (23,358) |
Effect of foreign currency translation (%)(1) |
2.5 % |
|
(4.7) % |
|
1.0 % |
|
(4.2) % |
Presence constant currency growth rate |
17.7 % |
|
14.2 % |
|
16.9 % |
|
11.9 % |
|
|||||||
(1) To calculate the effect of foreign currency translation, we apply the same weighted monthly average exchange |
|||||||
|
|||||||
Amounts may not sum due to rounding. |
SUMMARY OF SHARES OUTSTANDING |
|||
|
|||
|
Years Ended |
||
|
2023 |
|
2022 |
Shares outstanding: |
|
|
|
Class A common stock |
88,545,012 |
|
87,754,534 |
Class B common stock |
47,844,755 |
|
47,844,755 |
Class C common stock |
0 |
|
0 |
Total shares outstanding |
136,389,767 |
|
135,599,289 |
KEY PERFORMANCE INDICATORS AND NON-GAAP FINANCIAL MEASURES |
|||||||
|
|||||||
|
Three Months Ended |
|
Years Ended |
||||
|
2023 |
|
2022 |
|
2023 |
|
2022 |
Unique subscriptions (in thousands) |
4,631 |
|
4,204 |
|
4,631 |
|
4,204 |
Total bookings (in thousands) |
$ 286,123 |
|
$ 232,145 |
|
$ 1,075,096 |
|
$ 906,056 |
ARRR (in thousands) |
$ 1,105,743 |
|
$ 931,708 |
|
$ 1,105,743 |
|
$ 931,708 |
ARPUS |
$ 228.02 |
|
$ 209.16 |
|
$ 228.02 |
|
$ 209.16 |
Adjusted EBITDA (in thousands) |
$ 64,697 |
|
$ 63,108 |
|
$ 235,404 |
|
$ 147,499 |
Unlevered free cash flow (in thousands) |
$ 65,021 |
|
$ 41,516 |
|
$ 241,013 |
|
$ 165,550 |
GMV (in thousands) |
$ 1,654,126 |
|
$ 1,556,004 |
|
$ 6,211,823 |
|
$ 6,058,832 |
|
|||||||
Unique subscriptions and average revenue per unique subscription ("ARPUS") do not account for single domain |
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