Squarespace 10-K (FY2023, filed Feb 2024) — verbatim warning that subscription retention is not assured

Claim: Squarespace's 10-K for FY2023 (filed February 2024) states verbatim:

"there can be no assurance that we will be able to retain unique subscriptions beyond the existing annual or monthly subscription periods"

and references historical "customer turnover."

Source: SEC EDGAR — Squarespace Inc. Form 10-K, FY2023.

Confidence: Verified (primary SEC document).

Caveat: Squarespace was taken private by Permira in October 2024 (Squarespace — design-forward DIY builder; taken private by Permira October 2024 for $7.2B). Future 10-K disclosure is no longer available.

Why this matters for Candid: A vendor conceding churn risk in a regulatory filing establishes that the phenomenon is real. The 10-K does not quantify it — Squarespace, like Wix, withholds the actual churn percentage. Establishes existence; magnitude lives in SMB-focused SaaS churn benchmark — 3–7% monthly logo churn (≈31–58% annually); DIY builders fit this reference class / 2025 Recurly Churn Report — median B2B SaaS annual churn 3.5% (2.6% voluntary, 0.8% involuntary); SMB 3–7% monthly; consumer 6.5–8%.