Earnings release
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Wix Reports Third Quarter 2021 Results Collections and revenue growth exceeded expectations as key growth drivers outperformed amidst an improving business environment Q3'21 Revenue of $ 321 million , up 26 % y / y ○ Q3'21 Collections of $ 373 million , up 33 % y / y Increasing number of businesses are relying on Wix as their full operating system ○ Business Solutions Revenue and Collections up 55 % y / y and 53 % y / y , respectively B2B partnerships emerging as an incremental sustainable go - to - market strategy and growth driver as companies turn to Wix to deliver technology solutions and add value to their users • Increasing full year outlook for revenue and collections due to confidence in recent improvements NEW YORK , November 11 , 2021 -- Wix.com Ltd. ( Nasdaq : WIX ) today reported financial results for the third quarter ended September 30 , 2021 , highlighted by revenue and collections results ahead of expectations . In addition , the Company provided its initial outlook for the fourth quarter and raised its revenue and collections outlook for the full year . Please visit the Wix investor relations website at https://investors.wix.com/ to view the Q3'21 Shareholder Update . " Our business outperformed our expectations this quarter as we saw improvements in the business environment . Our users are still navigating a great deal of uncertainty , but we believe the impacts have lessened . Despite this volatility , we delivered outstanding results . ” " said Avishai Abrahami , Co - founder and CEO of Wix . " We continue to layer on new monetization opportunities , and I have never been more excited about what we have coming down the pipeline . " Nir Zohar , President and COO of Wix , also added , " This quarter we recorded collections from several new B2B partnerships , most notably the technology alliance with Vistaprint that we announced in August . Companies like Vistaprint are approaching us because they know that our brand and technology platform can bring massive value to their users . We believe these B2B partnerships will deliver sustainable growth over many years to come due to the ongoing financial benefits of renewals , additional new subscriptions above and beyond the agreement , and business solutions such as Ascend or Wix Payments . " Lior Shemesh , CFO of Wix , added , “ Outperformance this quarter was driven by better than expected new user additions , conversion of new users to subscriptions and average collections per subscription . We are increasing our revenue and collections guidance for FY 2021 to reflect the improvements we are experiencing . " Q3'21 Financial Results Total revenue in the third quarter of 2021 was $ 320.8 million , up 26 % y / y ○ Creative Subscriptions revenue in the third quarter of 2021 was $ 241.3 million , up 19 % y / y Business Solutions revenue in the third quarter of 2021 was $ 79.5 million , up 55 % y / y