Squarespace reports earnings and predicts slower growth in 2022

Squarespace reports earnings and predicts slower growth in 2022

No surprise as Squarespace points to slower growth.

Picture of stock chart with the words earnings report

The problem for public companies that have a great year is that they have higher benchmarks to clear the following year. For website building companies, that means the Covid-induced boom has set a high bar that will inevitably be tough for comps.

Squarespace’s (NYSE: SQSP) Q4 2021 earnings and 2022 guidance is a case in point. The company posted $207.4 million revenue in Q4. That’s up 20% compared to Q4 2021, but that’s a slower pace than its full-year 2021 growth of 26% with $784.0 million revenue.

And for 2022, the company expects annual revenue growth of just 10%-12%.

Unique subscriptions were up 12% during 2021 to reach 4.1 million at the end of the year. Unique subscriptions include a website package or standalone scheduling, or social package.

The market has expected this drop ever since Wix reported earnings last month. Since then, Squarespace shares have fallen from about $35 to $23, so shares are fairly flat on the news today.

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