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Squarespace Subscriber and Revenue Statistics

Backlinko Team

Written by Backlinko Team

Squarespace Subscriber and Revenue Statistics

Squarespace is a popular website building platform.

Launched publicly in 2004, the company hit a milestone of $100 million in bookings in 2015.

Today, Squarespace has 4.91 million unique subscriptions and generates $1.12 billion in annual revenue run rate.

Here’s an overview of the stats on this page:

Important Stats about Squarespace

  • Squarespace has 4.91 million unique subscriptions.
  • Squarespace generated $1.01 billion in revenue in 2023.
  • Squarespace’s current annual revenue run rate is $1.12 billion.
  • Squarespace operating expenses reached $721.09 million in 2023.
  • Squarespace has 1,749 full and part-time employees worldwide.

Squarespace Unique Subscriptions

Squarespace counts each unique website built with the platform as a separate subscription. The total subscriber count also encompasses standalone scheduling subscriptions, Unfold (app for creating social content) and hospitality subscriptions.

Taking all this into account, Squarespace has 4.91 million unique subscriptions. The company has added 708 thousand new subscriptions since December 2022.

Squarespace Unique Subscriptions

We’ve charted the number of Squarespace subscriptions since 2018:

Year Squarespace Unique Subscriptions
2018 2.34 million
2019 2.98 million
2020 3.66 million
2021 4.09 million
2022 4.2 million
2023 4.63 million
Q1 2024 4.91 million

Source: Squarespace

Squarespace ARRR

Squarespace’s annual revenue run rate is $1.12 billion as of March 2024. That’s up from $941.86 million in March 2023.

Squarespace ARRR

Here’s a table with Squarepace’s annual revenue run rate since 2018. Yearly figures are calculated by multiplying quarterly subscription revenue by 4.

Year Squarespace ARRR
2018 $425.85 million
2019 $549.16 million
2020 $709.06 million
2021 $835.19 million
2022 $931.71 million
2023 $1.11 billion
Q1 2024 $1.12 billion

Source: Squarespace

Squarespace Annual Revenue

Squarespace generated $1.01 billion in 2023, showing a 16.77% year-over-year growth.

Squarespace Annual Revenue

Squarespace’s revenue has grown by 29.12% since 2021.

Here’s a table showing Squarespace’s revenue since 2018:

Year Squarespace Revenue
2018 $389.86 million
2019 $484.75 million
2020 $621.15 million
2021 $784.04 million
2022 $866.97 million
2023 $1.01 billion
Q1 2024 $281.15 million

Source: Squarespace

Squarespace Revenue by Region

Squarespace generates 71.51% of its revenue from US customers. As of Q1 2024, that amounts to a quarterly revenue of $201.04 million.

Squarespace US Revenue

Here’s a table showing Squarespace’s US revenue since 2019:

Year Squarespace US Revenue (Share of Total Revenue)
2019 $343.05 million (70.77%)
2020 $430.12 million (69.24%)
2021 $544.5 million (69.45%)
2022 $622.8 million (71.84%)
2023 $726.03 million (71.72%)
Q1 2024 $201.04 million (71.51%)

Squarespace revenue from non-US markets reached $80.11 million in Q1 2024, representing 28.49% of the company’s total revenue.

Squarespace International Revenue

Here’s a table with Squarespace’s international revenue since 2019:

Year Squarespace International Revenue (Share of Total Revenue)
2019 $141.7 million (29.23%)
2020 $191.03 million (30.76%)
2021 $239.54 million (30.55%)
2022 $244.18 million (28.16%)
2023 $286.31 million (28.28%)
Q1 2024 $80.11 million (28.49%)

Source: Squarespace

Squarespace Revenue Sources

Squarespace provides a revenue breakdown by product type, which includes “presence” and “commerce.”

Presence revenue refers to core platform subscriptions, domain-managed services, and other fees related to third-party solutions.

Commerce revenue mainly consists of subscription plans containing additional commerce and marketing tools. The category also covers costs
associated with Squarespace Scheduling, revenue share with partners, and transaction fees from purchases made on Squarespace sites.

Squarespace brought in $200.88 million in presence revenue in Q1 2024, accounting for 71.45% of total revenue.

Squarespace Presence Revenue

Squarespace’s presence revenue has increased by 18.43% since Q1 2023.

We’ve charted Squarespace’s “presence” revenue since 2019:

Year Squarespace Presence Revenue (Share of Total Revenue)
2019 $404.16 million (83.37%)
2020 $477.83 million (76.93%)
2021 $554.52 million (70.73%)
2022 $597.3 million (68.89%)
2023 $704.35 million (69.58%)
Q1 2024 $200.88 million (71.45%)

By comparison, Squarespace generated $80.26 million in commerce revenue in Q1 2024. That’s a 10.5% year-over-year increase.

Squarespace Commerce Revenue

Commerce revenue now accounts for 28.55% of the company’s total revenue.

Here’s a table with Squarespace’s “commerce” revenue since 2019:

Year Squarespace Commerce Revenue (Share of Total Revenue)
2019 $80.59 million (16.63%)
2020 $143.32 million (23.07%)
2021 $229.52 million (29.27%)
2022 $269.67 million (31.11%)
2023 $307.99 million (30.42%)
Q1 2024 $80.26 million (28.55%)

Source: Squarespace

Squarespace Revenue per Unique Subscription

Each Squarespace subscription generates an average of $226.63 per year in revenue.

Squarespace Revenue per Unique Subscription

The company’s average revenue per unique subscription has been gradually increasing each year since 2018:

Year Squarespace Average Revenue per Unique Subscription
2018 $178
2019 $181
2020 $186
2021 $202.54
2022 $209.16
2023 $228.02
Q1 2024 $226.63

Source: Squarespace

Squarespace Gross Merchandise Value

Gross merchandise value (GMV) refers to the total value of orders placed through Squarespace-enabled eCommerce sites.

GMV on the Squarespace platform reached $6.21 billion in 2023.

Squarespace Gross Merchandise Value

Here’s a table with Squarespace’s gross merchandise value since 2019:

Year Squarespace GMV
2019 $2.04 billion
2020 $3.9 billion
2021 $5.78 billion
2022 $6.06 billion
2023 $6.21 billion
Q1 2024 $1.65 billion

Source: Squarespace

Squarespace Operating Expenses

Squarespace’s operating expenses reached $721.09 million in 2023.

Squarespace’s operating expenses reached $721.09 million in 2023

Marketing and sales costs account for the majority (48.48%) of Squarespace’s expenses. In 2023, that amounted to $349.57 million.

Here’s a full breakdown of Squarespace’s operating expenses by category in 2023:

Category Squarespace Operating Expenses (Share)
Marketing and sales $349.57 million (48.48%)
Research and product development $242.19 million (33.59%)
General and administrative $129.33 million (17.93%)

Source: Squarespace

How Many People Work at Squarespace?

Squarespace has 1,749 full and part-time employees worldwide.

Squarespace has 1,749 full and part-time employees worldwide

The majority of employees (1,530) are based in the United States, while the remaining 219 are based in the European Union, Australia, United Kingdom.

Region Squarespace Employees
United States 1,530
European Union 185
Australia 30
United Kingdom 4

Employees on a work-based H-1B visa receive a median salary of $183,000.

Sources: Squarespace, H1B Salary Database

Conclusion

That’s all for my list of Squarespace stats in 2024.

It’s clear from the numbers included here that Squarespace is growing steadily.

Squarespace plans to go private in a $6.9 billion cash transaction with a private equity firm.