Wix
cloud platform maps and as well as furthering our joint efforts with cloud media via the media platform change in recognition of collections and revenue due to the updated terms of our agreement we are required to change the method by which we recognize collections and revenue from the sale of the applications as an agent to date we have recognized only our net portion of the collections and revenue from sales however due to the change in our agreement we are now considered a principal in these transactions as such we must now recognize collections and revenue from these sales on a gross basis this change to will have two impacts on our financial statements we will recognize of the amount our users pay us increasing both revenue and collections we expect this change in accounting to generate roughly million in additional collections and revenue in we will recognize share of the sale in cost of revenue lowering our gross margin we expect our gross margin will decline approximately between and as a result this accounting change itself will have no impact on operating expenses operating income net cash from operating activities or free cash flow other than the benefits we will realize from the improved commercial terms our guidance for revenue collections gross margin and free cash flow reflect the increased share we will receive as part of this revised arrangement and our anticipated growth in sales of this product we also include the impact of the accounting change from net to gross recognition | Wix
Company
Wix
Deck Type
Sector
Industry
Deck date
March 2018
Slide
14 of 25
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