SQSP - Squarespace Inc. (SQSP) Q1 2024 Earnings Call Transcript

2024-05-07 13:41:14 ET

Squarespace, Inc. (SQSP)

Q1 2024 Earnings Conference Call

May 07, 2024 08:30 AM ET

Company Participants

Clare Perry - Head, IR

Anthony Casalena - Founder and CEO

Nathan Gooden - CFO

Conference Call Participants

Vikram Kesavabhotla - Baird

Andrew Boone - JMP Securities

Ken Wong - Oppenheimer

Josh Beck - Raymond James

Trevor Young - Barclays

Ygal Arounian - Citi Group

Naved Khan - B. Riley

Chris Zhang - UBS

Ella Smith - JP Morgan

Presentation

Operator

Good morning. My name is Alyssa and I will be your operator today. At this time I would like to welcome everyone to Squarespace's First Quarter 2024 Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the prepared remarks there will be a question-and-answer session. [Operator Instructions] Thank you.

I will now hand the call over to your host at Squarespace, Clare Perry. Clare, please go ahead.

Clare Perry

Good morning and thank you for joining Squarespace's first quarter 2024 earnings conference call. This is Clare Perry, Head of Investor Relations. I'm joined by Anthony Casalena, Squarespace's founder and CEO and Nathan Gooden, CFO. After their prepared remarks we will open the call to your questions.

Earlier today we posted a press release and shareholder letter to the Investor Relations section of our website. On today's call we will be referencing both GAAP and non-GAAP financial results and operating metrics. You can find additional information on how we calculate these metrics, including a reconciliation of GAAP to non-GAAP measures in today's press release and shareholder letter. These measures should not be considered in isolation from nor substitute for our GAAP reporting.

We will make forward-looking statements pursuant to the safe harbor provisions of the Private Security Litigation Reform Act of 1995, which include but are not limited to statements related to our future financial performance, our strategies, and our ability to integrate new technology into our core platform. These forward-looking statements are subject to risks and uncertainties that could cause our actual results to differ materially.

These risks are further defined in our most recent filings with the Securities and Exchange Commission. Any forward-looking statements that we make on this call are based on assumptions as of this day, May 7, 2024. We undertake no obligation to update these statements as a result of new information or future events, except we're required by law. Please note that all comparisons are on a year-over-year basis unless we state otherwise.

I will now turn the call over to Anthony.

Anthony Casalena

Thanks, Clare, and good morning everyone. I'm pleased to share that Squarespace's Q1 was a strong one, with our revenue up 19% and bookings up 23%, beating the high end of our guidance on both metrics....

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