Squarespace falls on annual revenue forecast cut

Squarespace

25/07/2022 11:40

** Shares of website building services provider Squarespace
Inc  SQSP.N  fall 2.2% to $19.50 premarket
    ** Co cuts annual revenue forecast to the range of $857 mln
to $867 mln from prior forecast of $867 mln to $879 mln versus
analysts' est. of $873.9 mln - Refinitiv data
    ** Co also sees Q3 revenue between $213 mln and $218 mln
versus est. of $221.7 mln
    ** Co posts Q2 revenue of $212.7 mln, up 9% y/y 
    ** "Our revenue and unlevered free cash flow results
delivered against our plans; without the impact of FX headwinds,
we would have exceeded our revenue guidance" - CFO Marcela
Martin
    ** Up to last close, SQSP was down over 32% YTD    

 (Reporting by Chavi Mehta in Bengaluru)
 ((Chavi.Mehta@thomsonreuters.com;))