Squarespace Fourth Quarter Revenue Growth

Squarespace reported an impressive 18% increase in revenue for the fourth quarter, with bookings, presence revenue, and commerce revenue all experiencing double-digit growth.

Financial Highlights

The New York-based digital publishing and media software company posted a net income of $5.3 million, or 4 cents a share, compared to a loss of $234 million, or $1.72 a share, in the previous year. Analysts had expected earnings of 11 cents a share, demonstrating Squarespace's outperformance.

Sales soared to $270.7 million for the period ending Dec. 31, up from $228.8 million in the year-ago quarter. This exceeded analyst expectations of $263 million.

Future Projections

Looking ahead, Squarespace projects revenue between $274 million and $277 million for the first quarter. Analysts are anticipating $263 million.

For fiscal 2024, the company anticipates revenue between $1.17 billion and $1.19 billion, surpassing analyst expectations of $1.16 billion.

CEO's Perspective

Chief Executive Anthony Casalena expressed pride in Squarespace's achievement of surpassing $1 billion in revenue in 2023, marking a significant milestone in the company's 20-year history. Casalena attributed this success to new customer growth across markets and strong retention, highlighting the company's compelling product offerings.

Share Repurchase Program

In a strategic move, Squarespace announced a $500 million share repurchase program for its Class A common stock, with no fixed expiration date.

For more information, visit Squarespace.