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  "authorName": "Wix",
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  "presentationDate": "2018-07-01 00:00:00",
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  "notes": "Includes a specific callout on the rationale for using free cash flow as a primary metric.",
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      "kind": "callout",
      "text": "We view free cash flow as the best metric by which to measure the profitability of our business, due to the large amount of deferred revenue we recognize in a given period",
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      "text": "At the end of Q2 2018, our basic weighted average share count was approximately 47.7 million and our weighted average fully diluted share count was approximately 56.3 million.",
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      "text": "Our total employee headcount stood at 2,198 as of the end of the second quarter.",
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      "text": "We ended Q2 2018 with $637M in cash on the balance sheet and $286M in long-term debt. The cash balance at Q2 reflects $336 million in net proceeds from the convertible notes we issued in June.",
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      "text": "Non-GAAP operating income was $12.9M, compared to non-GAAP operating loss of $(0.8)M in Q1 2018 and non-GAAP operating income of $3.5M in Q2 2017.",
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      "text": "Free cash flow rose to $23.9M, compared to $21.4M in Q1 2018 and $17.4M in Q2 2018, an increase of 37% y/y. As we grow collections at high rates, we also continue to grow free cash flow at even greater rates.",
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