Wix posts $146.1 million revenue, 205k net fresh paying clients in Q2

Firm posts impressive year-over-year numbers but net paying client growth rate lower than in Q1.

Website builder Wix (NASDAQ:WIX) released earnings for the second quarter of 2018 today.

The firm noted $146.1 million revenue for the quarter, up 41% year-over-year. It was up from $137.8 million in Q1.

Collections–a measure of sales not considering subscription revenue recognition practices–were $159.9 million.

Free cash flow hit $23.9 million, up 37% year-over-year and a fresh record.

Wix added a net 205,000 paying clients in the quarter. That brings the total to 3.7 million paying clients. The net adds were lower than in Q1, but many people start fresh businesses at the beginning of the year.

The firm also added 5.8 million registered users in the quarter, bringing the total to 131 million. Comparing the 3.7 million clients to the total registered user base gives an idea of conversion rates from free to paid accounts.

Yesterday, I wrote a Wix review regarding my experience building a website on Wix.