Wix.com Ltd. WIX reported a third-quarter 2021 non-GAAP loss of 21 cents per share, narrower than the Zacks Consensus Estimate for a loss of 43 cents per share. However, the figure was wider than the year-ago quarter's loss of 14 cents per share.Total revenues increased 26% year over year to $320.8 million and beat the consensus estimate of $314.8 million.Region-wise, North America, Europe, Asia and others, and Latin America contributed 58%, 25%, 13% and 4% to third-quarter revenues, respectively. Revenues from North America, Europe, Asia and others, and Latin America increased 27%, 28%, 19% and 9% year over year, respectively.Quarter in DetailCreative Subscriptions revenues (75.2% of revenues) increased 19% year over year to $241.3 million. Business Solutions revenues (24.8% of revenues) jumped 55% to $79.5 million.In the third quarter, Creative Subscriptions Annualized Recurring Revenues were $992.3 million, up 18% year over year.Collections were $373.3 million, up 33% year over year. Creative Subscriptions increased 28% year over year to $292.7 million. Business Solutions rose 53% to $80.6 million.Business Solutions Revenues and Collections were up 55% and 53%, year over year, respectively.Operating DetailsNon-GAAP gross margin contracted 700 basis points (bps) to 63%.Non-GAAP research and development expenses, as a percentage of revenues, expanded 40 bps year over year to 25.2%. Non-GAAP selling and marketing expenses were 33.9%, contracting 790 bps year over year.Wix reported a non-GAAP operating loss of $10.9 million compared with a non-GAAP operating loss of $8.5 million in the year-ago quarter.Wix.com Ltd. Price, Consensus and EPS Surprise Wix.com Ltd. price-consensus-eps-surprise-chart | Wix.com Ltd. QuoteBalance Sheet & Cash FlowAs of Sep 30, 2021, Wix's cash and short-term deposits were $828.5 million compared with $927.5 million as of Jun 30, 2021.As of Sep 30, 2021, long-term debt was reported at $922 million compared with $920 million as of Jun 30, 2021.Cash flow from operations amounted to $4.3 million in the third quarter compared with $21.8 million in the previous quarter.Capital expenditure totaled $13 million in the reported quarter. Free cash flow was ($8.7 million).GuidanceFor fourth-quarter 2021, Collections are projected to be $348-$372 million, indicating an improvement of 14-21% from the year-ago quarter's reported figure.Revenues are expected between $324 million and $333 million, suggesting 15-18% growth from the prior-year quarter's reported figure. The Zacks Consensus Estimate for the same is pegged at $328.43 million.Wix raised its 2021 outlook. Collections are now projected to be $1.415-$1.439 billion, indicating an improvement of 28-31% from the prior-year quarter's level. Earlier, the company guided Collections of $1.400-$1.435 billion.Revenues are now expected between $1.265 billion and $1.274 billion, indicating growth of 28-29% from the prior-year quarter's reported figure. Earlier, the company guided revenues of $1.255-$1.27 billion.The Zacks Consensus Estimate for 2021 revenues is projected at $1.26 billion.The company now anticipates a free cash flow of $22-$27 million.Zacks Rank & Stocks to ConsiderCurrently, Wix carries a Zacks Rank #4 (Sell).Some better-ranked stocks in the broader technology sector are ON Semiconductor ON, Advanced Micro Devices AMD and NVIDIA NVDA. While On Semiconductor currently sports a Zacks Rank #1 (Strong Buy), Advanced Micro Devices and NVIDIA carry a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank stocks here.Long-term earnings growth rates of ON Semiconductor, Advanced Micro Devices and NVIDIA are pegged at 53.93%, 46.2% and 19.54%, respectively.ON Semiconductor, Advanced Micro Devices and NVIDIA have gained 77.8%, 59.2% and 132.8%, respectively, on a year-to-date basis. Tech IPOs With Massive Profit Potential In the past few years, many popular platforms and like Uber and Airbnb finally made their way to the public markets. But the biggest paydays came from lesser-known names. For example, electric carmaker X Peng shot up +299.4% in just 2 months. Think of it this way… If you had put $5,000 into XPEV at its IPO in September 2020, you could have cashed out with $19,970 in November. With record amounts of cash flooding into IPOs and a record-setting stock market, this year’s lineup could be even more lucrative.See Zacks Hottest Tech IPOs Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Advanced Micro Devices, Inc. (AMD): Free Stock Analysis Report NVIDIA Corporation (NVDA): Free Stock Analysis Report ON Semiconductor Corporation (ON): Free Stock Analysis Report Wix.com Ltd. (WIX): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research