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  "documentTitle": "Wix | Results Presentation Deck | 25 slides",
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  "authorName": "Wix",
  "documentKindSlug": "shareholder-letter",
  "documentKindLabel": "Shareholder letter",
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  "sourceTypeLabel": "Investor relations",
  "presentationDate": "2018-03-01 00:00:00",
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  "notes": "The slide provides specific percentage-based guidance for key financial metrics and outlines the impact of FX rates on cash flow.",
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      "text": "Non-GAAP Operating Expenses: Total non-GAAP operating expenses as a % of collections are expected to be 66% - 67% of collections for FY 2018.",
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      "text": "Non-GAAP Sales and Marketing Expenses: S&M expense on a non-GAAP basis as % of collections of 35% - 36% of collections for the full year 2018. We estimate non-GAAP S&M expenses will be approximately 41% of collections in Q1 2018.",
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      "text": "FX rates: Our guidance for operating expenses and free cash flow assumes current FX rates between the New Israeli Shekel (NIS) and the US Dollar. We have hedges on the NIS in place through June 2018.",
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      "text": "Non-GAAP gross margin: we expect non-GAAP gross margin of approximately 80% of revenue. Assuming we would continue to recognize revenue from our revised Google partnership agreement using net or agent recognition, we anticipate non-GAAP gross margin would be approximately 85% of revenue.",
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