Squarespace raises FY24 revenue view to $1.19B-$1.21B from $1.17B-$1.19B

Consensus $1.18B. Sees FY24 free cash flow $298M-$318M. Sees FY24 capital expenditures $5M-$7M. “In Q1, we delivered revenue and unlevered free cash flow at the high end or above our guidance range, generating strong operating leverage,” said Nathan Gooden, CFO of Squarespace. “The primary growth driver in the quarter was our organic business. We are seeing profitable growth at scale with our growing customer base of millions and strong demand for our ecosystem globally. We raise our FY24 guidance today based on the strength we see in the business.”