By Will Feuer
Squarespace posted higher sales in the third quarter, fueled by demand for its online-creator tools.
The company, which sells website-building and online-commerce tools, reported a third-quarter loss of $16.5 million, or 12 cents a share, compared with a profit of $10.1 million, or 7 cents a share, in the same period last year. Analysts surveyed by FactSet had expected a non-adjusted profit of 13 cents a share.
Revenue rose 18% to $257.1 million, topping the $251.9 million that analysts were expecting. Bookings also rose 18% to $267.0 million.
The company’s quarterly loss was driven by a $41.2 million provision for income taxes.
Squarespace is pacing to exceed $1 billion in annual revenue this year, Chief Executive Anthony Casalena said. Chief Financial Officer Nathan Gooden said demand and customer retention is fueling growth.
The company’s commerce business posted revenue of $77.6 million, up 15% from a year ago, while the digital-presence business reported revenue of $179.5 million, up 20%.
Write to Will Feuer at [email protected]
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