Wix.com sees FY22 revenue up 9%, consensus $1.38B

The company said, "Our updated outlook reflects foreign exchange, or FX, rates that have created stronger headwinds to results since we last issued guidance. For the full year, we now expect revenue to grow 9% y/y. This updated full year guidance reflects the impact of FX rates, which worsened through the third quarter and into November. Assuming FX rates remained constant from July, we would expect revenue growth for the full year to be 10%, consistent with the high end of our previous guidance.We now expect FCF excluding HQ capex for the full year to be approximately 2% of revenue, within our previous guidance range. Assuming FX rates remained constant since July, we expect FCF (excluding HQ capex) would be ~3% of revenue for the full year, consistent with the high end of our guidance range last quarter. This improvement will be driven by a combination of increased leverage from our completed cost reduction plan and lower marketing spend as we refocus on higher-intent users. Changes in FX rates have had a significant impact on our reported results to date and on our expectations for the full year."