Wix makes good money paying subscribers

Digital Pandit

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Wix adds fewer paying customers in Q1 compared to a year ago.

Website builder Wix (NASDAQ: WIX) added a net 180,000 paying customers in Q1 2019, the company reported in its earnings release today. That brings the total to 4.2 million.

By comparison, it added 231,000 net paying customers in Q1 2018 and 147,000 in Q4 2018.

Wix added 6.6 million new registered users in the quarter, bringing the total to 148 million. Only about 3% of its registered users are paying customers.

Revenue for the quarter was $174.3 million, up 27% year-over-year. Collections (essentially billings) were up 26% to $200.4 million.

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