EARNINGS: Squarespace Q2’24 Revenue Up 20% YoY to $296.8M; Adjusted EBITDA Declines 1.8% to $72.1M

Relevant Document: Press Release Squarespace reported a 20% year-over-year increase in total revenue for the second quarter ended June 30, 2024, amounting to $296.8 million, up from $247.5 million in the same period of 2023. The company’s Presence revenue saw 25% growth to $215.4 million, while Commerce revenue rose by 8% to $81.4 million. The adjusted EBITDA decreased 1.8% to $72.1 million in the second quarter, compared to $73.4 million in the same period of 2023. The company’s annual run rate revenue saw a 20% year-over-year growth to $1.18 billion in 2024, up from $983.3 million in 2023. The company’s cash flow from operating activities for the quarter increased by 15% to $60.6 million, compared to $52.5 million in the same period of 2023. The company’s unlevered free cash flow increased by 19% to $65.4 million, representing 22% of total revenue for the quarter, compared to $54.8 million in the same period of 2023. Squarespace reported cash and cash equivalents of $270.4 million, investments in marketable securities of $52 million, and total debt of $545 million, of which $57.1 million is current. The company’s debt net of cash and investments amounted to $222.6 million. In the second quarter, total bookings[...]