Company reports earnings and says it is revamping its domain platform ahead of Google Domains acquisition.
Squarespace (NYSE: SQSP) reported 16% year-over-year revenue growth in Q2—image courtesy Squarespace.
Squarespace (NYSE: SQSP) reported Q2 earnings this morning.
Both revenue and bookings (sales) were up 16% year over year. Revenue came in at $247.5 million, and bookings at $256.1 million.
At the time of the Q1 earnings release, the company guided to 13%-15% revenue growth in Q2 and 12%-13% for the full year. For Q3, it is estimating 15%-16% revenue growth, and it is now guiding to 14%-15% revenue growth for the full year. The guidance does not include the impact of acquiring Google’s domain business, which it hopes to close by the end of the year.
Some of the growth has come from price increases, with total subscriptions increasing just 3% year over year. However, the company reported a record number of free website trials in Q2, which bodes well for the future.
In preparation for acquiring the Google Domains assets, the company says it will re-launch Squarespace Domains. The company claims, “Whether you use Squarespace for your website or not, we want to be the best place on the internet to purchase, park, and manage your domain.”
It will be interesting to see what changes it makes.
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