Squarespace revenue rises as it boosts its commerce efforts

Squarespace has released its financial results for its third quarter revealing that its website builder and ecommerce platform were boosted by its recent commerce efforts.

According to CFO Marcela Martin who was appointed to the role last month, commerce represents an increasingly important part of the company's business as as commerce revenue brought in $59.8m during Q3 which is up 55 percent year-over-year. Additionally, at the end of the third quarter, Squarespace was able to achieve $210m in trailing twelve-month commerce revenue.

Founder and CEO of Squarespace, Anthony Casalena provided further insight on the company's recent commerce efforts in a press release, saying:

"Squarespace had another outstanding quarter as we continued to achieve strong revenue growth and introduce new solutions that give our millions of customers around the world the competitive advantages they need to succeed. We launched Everything to Sell Anything, our new brand vision that aims to disrupt the traditional ecommerce model by offering new and dynamic ways to sell any type of product or service in parallel."

Unique Subscriptions

During its fiscal third quarter, Squarespace was able to bring in a total of 201.m in revenue which is up 24 percent year-over-year and was likely boosted by the company's latest push into ecommerce. Meanwhile, its total annual run rate revenue (ARRR) increased to 788.6m (up 21% year-over-year).

When it came to subscribers to its website building service, Squarespace's Unique Subscriptions reached 4m in Q3, up 13.5 percent year-over-year. At the same time, the company's existing subscribers are spending more on new services as the average revenue per unique subscription (ARPUS) grew to $198, up 5.7 percent year-over-year.

Going forward, Squarespace expects revenue of $203-206m during the fourth quarter of fiscal year 2021 and this will equate to year-over-year growth of 18 percent to 20 percent.

Whether you're looking to create an online presence or open an online store, Squarespace provides all of the tools you need to build a website and start selling your products online.

Looking to build an online store? Check out our lists of the best ecommerce website builder, best ecommerce platforms and best ecommerce hosting

source https://www.techradar.com/news/squarespace-revenue-rises-as-it-boosts-its-commerce-efforts/