Welcome to our dedicated page for Squarespace news (Ticker: SQSP), a resource for investors and traders seeking the latest updates and insights on Squarespace stock.
Squarespace, Inc. (NYSE: SQSP) is a leading provider of subscription-based website building and hosting services, primarily catering to entrepreneurs and small businesses. Since its inception, the company has empowered millions of users in over 200 countries and territories with comprehensive tools necessary to create an online presence, build an audience, monetize content, and scale their businesses.
Squarespace's core products include websites, domains, e-commerce solutions, and marketing tools. Additionally, it offers specialized functionalities such as scheduling through Acuity, social media management via Bio Sites and Unfold, and hospitality business management through Tock. The company has significantly expanded its capabilities following the acquisition of Tock in 2021, which allowed Squarespace to serve hospitality customers by providing reservation, take-out, and event management software.
In 2023, Squarespace achieved a milestone by surpassing $1 billion in revenue for the first time in its 20-year history. This growth was driven by strong customer retention and new customer acquisition across diverse markets. Key developments during the year included the acquisition of Google Domains, the launch of Squarespace Payments, and the introduction of new AI capabilities aimed at enhancing the user experience and expanding accessibility for entrepreneurs at various stages of their journey.
Financially, Squarespace demonstrated robust performance with consistent execution and innovation. The company has been actively repurchasing its Class A common stock, with a $500 million authorization underscoring its financial momentum and commitment to delivering shareholder value. In line with its growth strategy, Squarespace continues to focus on increasing profitability and leveraging its ecosystem to further attract and retain users.
Looking ahead, Squarespace has announced its intention to go private through an all-cash transaction valued at approximately $6.9 billion, led by global private equity firm Permira. This move aims to provide more flexibility and resources to invest in the company's long-term growth and further support its mission of helping entrepreneurs build better online brands and transact more efficiently with their customers. Upon completion, Squarespace's common stock will no longer be publicly listed, marking a significant transition in the company's journey.
On November 9, 2022, Squarespace announced that Anthony Casalena, Founder & CEO, will present at two major investor conferences. The first is the RBC Capital Markets Global Technology Conference on November 16, 2022, at 3:45 p.m. ET. The second is the Barclays Global Technology Conference on December 7, 2022, at 12:15 p.m. ET. A live audio webcast and archived replay will be available on the Squarespace Investor Relations website.
Squarespace (NYSE: SQSP) reported third-quarter 2022 results with total revenue of $217.7 million, an 8% year-over-year growth, and 13% growth in constant currency. Commerce revenue increased 13% to $67.7 million. Net income surged to $10.1 million from $2.8 million last year, equating to earnings per share of $0.07. Adjusted EBITDA rose to $43.7 million. Cash flow from operations was $41.4 million. The company forecasts Q4 revenue between $219 million and $224 million, with full-year guidance of $857 million to $862 million.
Squarespace (NYSE: SQSP) has launched the Squarespace Refresh, introducing over 100 new product features aimed at empowering entrepreneurs to enhance their online presence and monetize audiences. Key updates include video monetization, custom merchandise capabilities via Printful, and improved ecommerce tools that facilitate sales on platforms like Facebook and Instagram. Additionally, the company has partnered with artist Björk to release a limited-edition Fluid Engine template, showcasing innovative design integration. The updates emphasize streamlined business management tools and enhanced user experience.
Squarespace, Inc. (NYSE: SQSP) has announced the appointment of Nathan Gooden as its new Chief Financial Officer and Treasurer, effective October 18, 2022. Gooden, previously CFO of Amazon Alexa WorldWide, brings over two decades of experience in financial leadership within the tech sector. Founder & CEO Anthony Casalena expressed enthusiasm about Gooden's addition to the leadership team, praising his financial expertise and strategic insight. Gooden aims to leverage his experience to enhance Squarespace's growth and deliver long-term value to shareholders.
Squarespace, Inc. (NYSE: SQSP) will announce its financial results for the third quarter ending September 30, 2022, on November 8, 2022, before market open. A conference call is scheduled for 8:30 a.m. ET on the same day to discuss these results. Investors can register for the call via the company's Investor Relations website. Squarespace continues to be a leading all-in-one platform, offering integrated tools for website building and ecommerce, serving customers in over 200 countries.
Squarespace, Inc. (NYSE: SQSP) announced the appointment of Neela Montgomery to its board of directors, effective August 3, 2022. Montgomery brings over 20 years of leadership experience in global retail, having held significant positions at CVS Health and Crate & Barrel Holdings. Her expertise is expected to contribute to Squarespace's long-term growth strategy, as stated by CEO Anthony Casalena. This strategic move aims to enhance the company's market presence and operational effectiveness.
Squarespace reported second-quarter 2022 results, achieving $213 million in revenue, a 12% year-over-year growth in constant currency. The company saw a 13% increase in commerce revenue to $66.2 million. Unique subscriptions rose to 4.2 million, and average revenue per unique subscription grew to $204. The net income was $64.5 million, a significant improvement from a $234.5 million loss last year. For Q3, Squarespace projects revenues of $213-$218 million, and for the full year, expectations are $857-$867 million.
Squarespace (NYSE: SQSP) has launched Fluid Engine, an innovative website design system enhancing drag-and-drop functionality for users. This system, described as providing Unbreakable Creativity, allows for extensive customization and precise control over content layout on both desktop and mobile platforms. Key features include improved mobile design capabilities, design efficiency, and guided customization through an advanced smart grid. Fluid Engine is currently available on Squarespace 7.1 in English, with plans for additional language support.
Squarespace (NYSE: SQSP) will announce its Q2 2022 financial results on July 25, 2022, before the market opens. A conference call and live webcast to discuss the results will occur at 8:30 a.m. ET on the same day. The event can be accessed via the Investor Relations website. Squarespace continues to serve customers in over 200 countries with an integrated platform for selling various products and services.
Squarespace, Inc. (NYSE: SQSP) announced that Founder & CEO Anthony Casalena will present at the 50th Annual J.P. Morgan Global Technology, Media and Communications Conference in Boston on May 25, 2022, at 10:40 a.m. ET. A live audio webcast and archived replay will be accessible on the Squarespace Investor Relations website. Squarespace is a comprehensive platform that provides tools for website building and ecommerce for customers in over 200 countries. Their services include website management, domains, marketing tools, and social media management.
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