Squarespace (NYSE:SQSP) stock is a hot topic on Monday following news that the business managment company is being taken private in a $6.9 billion deal with global private equity firm Permira.This deal will have investors in SQSP stock receive $44 per share in cash. That represents a 15% premium over the stock’s prior closing price of $38.19. It’s also a 29% premium compared to its 90-day volume-weighted average trading price.A Special Committee of the Squarespace Board of Directors has unanimously approved ...

The New York Stock Exchange welcomes Squarespace, Inc. (NYSE: SQSP), on May 19, 2021, in celebration of its Direct Listing.Squarespace, the website-building platform, announced on Monday it would go private in a $6.9 billion all-cash deal with private-equity firm Permira, after nearly three turbulent years on the public market.Permira agreed to pay $44 per share in cash, a roughly 30% premium to Squarespace's unaffected share price. In recent years, Squarespace struggled to capture public-market support: It ...

Squarespace, a platform used by SMEs and individuals for building websites, blogs, and online stores, is going private in an all-cash deal that values the company on equity basis at $6.6 billion, or a $6.9 billion enterprise valuation. The acquiring company is U.K.-based private equity firm Permira.This is a breaking story, refresh for updates. ...

Stockholders will receive $44.00 per share in cash, which represents a premium of 29% over the 90-day volume weighted average trading price of $34.09 Anthony Casalena is rolling over a substantial majority of his existing equity and will continue to lead Squarespace as Chief Executive Officer Long-term Investors General Atlantic and Accel to re-invest as part of the go-private agreement NEW YORK, May 13, 2024 /PRNewswire/ -- Squarespace, Inc. (NYSE: SQSP), the design-driven platform helping entrepreneurs b ...

Great. Thanks for taking my question. It's just one for you, Anthony. You guys brought up design intelligence. How do you envision customers will engage with that interface? Is this an opt-in? Will this be default upon interacting with Squarespace? How does that potentially roll out over time? Anthony Casalena Sure. So, as mentioned in the letter, people can go and take a look on our front site. It's actually linked from the header, squarespace.com/design-intelligence. It's just a real roundup of how we see ...

Squarespace (SQSP) reported $281.15 million in revenue for the quarter ended March 2024, representing a year-over-year increase of 18.6%. EPS of $0.00 for the same period compares to $0.00 a year ago.The reported revenue represents a surprise of +1.80% over the Zacks Consensus Estimate of $276.19 million. With the consensus EPS estimate being -$0.09, the EPS surprise was +100.00%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to dete ...

Revenue Performance - Total revenue for Q1 2024 was $281.1 million, a 18.6% increase from $237.0 million in Q1 2023[134] - Subscription revenue accounted for 92.9% of total revenue for Q1 2024, up from 91.9% in Q1 2023[133] - Unique subscriptions increased by 15.2% year-over-year, reaching 4.9 million as of March 31, 2024[136] - Commerce revenue for Q1 2024 was $80.3 million, representing a 10.5% increase from the same period in 2023[140] - Total bookings rose by $60.2 million, or 22.6%, totaling $325.9 million for Q1 2024, up from $265.8 million in Q1 2023[217] - Annual run rate revenue (ARRR) increased by $175.8 million, or 18.7%, reaching $1,117.7 million as of March 31, 2024, compared to $941.9 million in Q1 2023[219] Profitability and Expenses - Gross profit for Q1 2024 was $200.4 million, compared to $194.1 million in Q1 2023[159] - Gross profit margin decreased to 71.3% in Q1 2024 from 81.9% in Q1 2023[182] - Operating loss for Q1 2024 was $14.8 million, compared to an operating income of $17.9 million in Q4 2023[180] - Net income for Q1 2024 was $0.1 million, down from $0.5 million in Q1 2023[134] - Research and product development expenses rose to $66.8 million in Q1 2024, a 14.1% increase from $58.6 million in Q1 2023[142] - Marketing and sales expenses increased by $15.9 million, or 15.6%, totaling $101.7 million, largely due to amortization expenses related to the Google Domains Asset Acquisition[173] Cash Flow and Investments - Cash and cash equivalents as of March 31, 2024, totaled $288.9 million, with an additional $17.7 million available under the Revolving Credit Facility[186] - Net cash provided by operating activities increased to $85.2 million in Q1 2024 from $64.2 million in Q1 2023[188] - Net cash used in investing activities for Q1 2024 was $50.4 million, primarily for purchasing marketable securities[195] - Net cash used in financing activities for Q1 2024 was $47.9 million, a decrease of 0.6% from $48.2 million in Q1 2023[198] Growth Metrics - The company processed approximately $1,649.5 million in gross payment volume (GPV) during Q1 2024, a 7.5% increase from Q1 2023[141] - The company experienced a $45.7 million increase in deferred revenue, indicating growth in unique subscriptions[190] - Average revenue per unique subscription (ARPUS) grew by $13.87, or 6.5%, to $226.63 in Q1 2024 from $212.76 in Q1 2023[221] - Unlevered free cash flow increased by $22.2 million, or 33.1%, to $89.3 million in Q1 2024, compared to $67.1 million in Q1 2023[223] Tax and Interest - Interest expense increased by $2.3 million, or 28.3%, totaling $8.1 million, attributed to higher total debt outstanding[175] - The benefit from income taxes increased significantly, driven by a loss before benefit from income taxes of $20.6 million, compared to $7.4 million in the prior year[177] - Total interest expense related to indebtedness was $10.4 million for Q1 2024, up from $8.1 million in Q1 2023[207] Other Notable Events - The company closed an asset purchase agreement with Google for $180.7 million to acquire domain assets[135] - Historical cash retention rate for 2023 was 88.2%, up from 84.1% in 2022[137] - As of March 31, 2024, $559.2 million was outstanding under the Term Loan, with scheduled quarterly principal payments of 7.5% for 2023 and 2024[204] - Approximately $487.8 million remained available for stock repurchase under the new $500 million Stock Repurchase Plan authorized on February 26, 2024[208]

Squarespace (SQSP) reported break-even quarterly earnings per share versus the Zacks Consensus Estimate of a loss of $0.09. This compares to break-even earnings per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 100%. A quarter ago, it was expected that this a software company would post earnings of $0.16 per share when it actually produced earnings of $0.04, delivering a surprise of -75%.Over the last four quarters, the company ...

Financial Performance - Total revenue grew 19% year over year to $281.1 million in Q1 2024, compared to $237.0 million in Q1 2023[4] - Total bookings increased 23% year over year to $325.9 million in Q1 2024, up from $265.8 million in Q1 2023[4] - Unlevered free cash flow rose 33% to $89.3 million, representing 32% of total revenue for Q1 2024[4] - Cash flow from operating activities increased 33% to $85.2 million for Q1 2024, compared to $64.2 million in Q1 2023[4] - Revenue for the three months ended March 31, 2024, was $281,148,000, representing an 18.6% year-over-year growth compared to $237,028,000 in 2023[34] - Gross profit for the same period was $200,374,000, with total operating expenses amounting to $215,202,000, resulting in an operating loss of $14,828,000[34] - Net income for Q1 2024 was $144,000, down from $502,000 in Q1 2023, with net income per share remaining at $0.00[34] - Adjusted EBITDA for Q1 2024 was $32,011,000, slightly up from $30,863,000 in Q1 2023[32] - Free cash flow for the three months ended March 31, 2024, was $81,834,000, compared to $61,080,000 in the same period last year[32] - The presence revenue for Q1 2024 was $200,884,000, reflecting a 22.2% year-over-year growth from $164,391,000 in Q1 2023[34] Subscriptions and Revenue Metrics - Unique subscriptions increased 15% year over year to over 4.9 million in Q1 2024, compared to 4.3 million in Q1 2023[4] - Average revenue per unique subscription (ARPUS) increased 7% year over year to $226.63 in Q1 2024, compared to $212.76 in Q1 2023[4] - Unique subscriptions increased to 4,912 thousand in Q1 2024, up from 4,264 thousand in Q1 2023, representing a growth of 15%[39] - Total bookings reached $325,946 thousand in Q1 2024, compared to $265,789 thousand in Q1 2023, reflecting a year-over-year increase of 22.6%[39] - Annual run rate revenue (ARRR) grew 19% year over year to $1,117.7 million in 2024, compared to $941.9 million in 2023[5] - Annual run rate revenue (ARRR) for Q1 2024 was $1,117,659 thousand, up from $941,860 thousand in Q1 2023, indicating a growth of 18.7%[39][40] - Average revenue per unique subscription (ARPUS) rose to $226.63 in Q1 2024, compared to $212.76 in Q1 2023, marking an increase of 6.5%[39] Cash and Debt Management - Total current assets increased to $433,678,000 as of March 31, 2024, compared to $374,215,000 at the end of 2023[28] - Total liabilities rose to $1,231,742,000 as of March 31, 2024, up from $1,182,111,000 at the end of 2023[28] - Cash and cash equivalents at the end of the period were $241,905,000, compared to $257,702,000 at the end of 2023[28] - The company reported a total debt outstanding of $556,891,000 as of March 31, 2024, down from $568,793,000 at the end of 2023[32] Business Outlook and Strategy - The company raised its FY24 revenue guidance to 19% growth based on strong business performance[2] - The primary growth driver was the organic business, with strong demand for the ecosystem globally[2] - The company plans to leverage the migration of new Google Domains customers to broaden its customer funnel[2] Growth Indicators - Gross payment volume (GPV) for Q1 2024 was $1,649,457 thousand, up from $1,534,058 thousand in Q1 2023, reflecting a growth of 7.5%[39][41] - Unlevered free cash flow improved to $89,322 thousand in Q1 2024, compared to $67,096 thousand in Q1 2023, representing a significant increase of 33.1%[39]

Revenue Increased 19% in the First Quarter; FY24 Revenue Guidance Raised to 19% NEW YORK, May 7, 2024 /PRNewswire/ -- Squarespace, Inc. (NYSE: SQSP), the design-driven platform helping entrepreneurs build brands and businesses online, today announced results for the first quarter ended March 31, 2024. "We had a strong start to 2024, with Q1 revenue growing 19% and bookings growing 23%" said Anthony Casalena, Founder & CEO of Squarespace. "We see tremendous opportunity to drive long-term growth and profitabi ...