SQSP reports: Squarespace hits 3.9 million unique subscriptions

Web presence company reports earnings for the first time as a public company.

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Squarespace (NYSE: SQSP) issued its quarterly results today for the first time after going public in May.

The company reported that it had 3.9 million unique subscriptions at the end of Q2, up 15% from a year ago. This doesn’t represent the total number of sites; customers with a standalone scheduling subscription, social service, or hospitality account are included in the numbers even if they don’t have a website.

Revenue was up 31% year over year to $196.0 million. $58.7 million of this was categorized as commerce revenue, which includes subscriptions to plans that include e-commerce capabilities as well as revenue share on payment processing and third-party apps. Over 90% of the company’s revenue comes from subscriptions.

The company turned in a hefty net loss due to stock-based compensation expenses of $229.3 million and listing costs of $25.3 million associated with going public through a direct listing.

Squarespace’s adjusted EBITDA number increased slightly in Q2 to $42.6, compared to $39.5 million in Q2 2020.

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