Wix
cash flow while maintaining investment in the business to drive growth our losses narrowed and we generated positive operating income of million on a non basis our total cash balance increased million to million at the end of reaffirming financial guidance for the success we experienced in carried into and we are anticipating the momentum to continue through the second half of the year we materially raised our guidance after strong results and reaffirm that same guidance for the year financial performance revenue of million was a new record and also exceeded the high end of our prior guidance of million revenue growth accelerated to year over year from last quarter collections were a record million in above the high end of our guidance range of million and higher than the strong growth in collections was primarily the result of continued improvements in conversion of registered users to premium subscriptions and due to continued improvement in our strong renewal activity collections per new subscription remained in an increase over users continue to purchase subscriptions with a vertical application attached stores and bookings continue to be our most popular vertical applications new premium subscription purchased with a vertical application in increased over the year ago quarter non gross margin was of revenue compared to in the year ago quarter and in the slight decline in gross margin was attributed to primarily increased hosting costs associated with over time we anticipate hosting costs associated to will decline as its infrastructure sere bales | Wix
Company
Wix
Deck Type
Sector
Industry
Deck date
July 2017
Slide
4 of 15
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general and administrative expenses were million in compared to million in a expenses were down million sequentially a expenses in were down from march down in may and down another in june year to date our monthly a expense has declined at an average of per month since this decline throughout the quarter was a direct result of the cost control initiatives we discussed on last quarter earnings call we plan to stay vigilant with cost control throughout the remainder of the year and beyond as we focus on continuing to leverage this line item | SmileDirectClub
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