Wix: the renewal cohort is converting above plan
Renewal cohorts are converting at higher realised pricing than management guided. The churn everyone feared has appeared in seat counts and not in dollars.
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Discussion · 7
I came in sceptical. The margin bridge is doing more work here than is acknowledged. What is the base rate on this kind of setup working?
Finally someone put numbers on this. The installed base argument is stronger than the cycle argument here. Any view on how the read-across affects the rest of the group?
Thanks for showing the workings. The installed base argument is stronger than the cycle argument here. Where does this break if rates back up another 50bp?
This is the one I get most. I would size it smaller at a higher entry rather than skip it, because the asymmetry degrades gradually rather than cliff-edges.
Useful framing. The comp table did more work for me than the narrative did. Does the thesis survive a soft guide next quarter?
I have been waiting for someone to make this argument. The comp table did more work for me than the narrative did. How much of this do you think is already in the buy side's numbers?
Not convinced, but well argued. The installed base argument is stronger than the cycle argument here. Interested in what the kill switch looks like in practice.