Leveraging Wix's powerful AI, users can create a fully designed, business-ready website within minutesNEW YORK, March 4, 2024 /PRNewswire/ -- Wix.com Ltd. (NASDAQ: WIX), the leading SaaS website builder platform globally1, today announced the launch of its highly anticipated AI Website Builder. Through a conversational AI chat experience, Wix users describe their intent and goals, instantly resulting in a professional and uniquely designed website, including relevant pages, and business solutions such as sc ...

Wix.com (WIX) stock is continuing its upward trajectory with a gain of 55.5% in the past year compared with 44.3% and 26.5% growth of the sub-industry and S&P Composite, respectively.Headquartered in Tel Aviv, Israel, and founded in 2006, WIX is a cloud-based web development platform. It offers solutions that enable businesses, organizations, professionals and individuals to develop customized websites and application platforms, and grow their online presence.The increase in stock price can be attributed to ...

Momentum investing revolves around the idea of following a stock's recent trend in either direction. In the 'long' context, investors will be essentially be "buying high, but hoping to sell even higher." With this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving that way. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.While many investors like to look for moment ...

When deciding whether to buy, sell, or hold a stock, investors often rely on analyst recommendations. Media reports about rating changes by these brokerage-firm-employed (or sell-side) analysts often influence a stock's price, but are they really important?Let's take a look at what these Wall Street heavyweights have to say about Wix.com (WIX) before we discuss the reliability of brokerage recommendations and how to use them to your advantage.Wix.com currently has an average brokerage recommendation (ABR) o ...

Wix.com (WIX) has been one of the most searched-for stocks on Zacks.com lately. So, you might want to look at some of the facts that could shape the stock's performance in the near term.Over the past month, shares of this cloud-based web development company have returned +4.4%, compared to the Zacks S&P 500 composite's +3.8% change. During this period, the Zacks Computers - IT Services industry, which Wix.com falls in, has gained 2.8%. The key question now is: What could be the stock's future direction?Whil ...

Shares of website building company Wix.com (WIX 8.33%) jumped on Wednesday after the company reported completed financial results for 2023. The company just capped off a good year that was better than what investors expected. That's why Wix stock was up about 9% as of 10 a.m. ET.How Wix turned things aroundWix generated record revenue of almost $1.6 billion in 2023, which was up 13% year over year. But I think the market is more impressed with its free cash flow of $182 million, which was nearly a 12% margi ...

Wix.com Ltd. (NASDAQ:WIX) Q4 2023 Earnings Conference Call February 21, 2024 8:30 AM ET Company Participants Emily Liu - IR Avishai Abrahami - CEO and Co-Founder Nir Zohar - President and COO Lior Shemesh - CFO Conference Call Participants Elizabeth Porter - Morgan Stanley Ygal Arounian - Citi Mark Mahaney - Evercore ISI Trevor Young - Barclays Operator Good day, and thank you for standing by. Welcome to the Wix Q4 2023 Earnings Conference Call. At this time, all participants are in a listen-only mode. Afte ...

Wix.com Ltd (WIX) reported non-GAAP diluted earnings per share (EPS) of $1.22 for fourth-quarter 2023, exceeding the Zacks Consensus Estimate of 98 cents. The company had reported EPS of 61 cents in the year-ago quarter.Total revenues increased 14% year over year to $403.8 million and beat the Zacks Consensus Estimate of $402.6 million.At the end of Dec 31, 2023, registered users were 263 million.Quarter in DetailCreative Subscriptions’ revenues (73.3% of total revenues) increased 12% year over year to $296 ...

Wix.com (WIX) reported $403.77 million in revenue for the quarter ended December 2023, representing a year-over-year increase of 13.7%. EPS of $1.22 for the same period compares to $0.61 a year ago.The reported revenue represents a surprise of +0.29% over the Zacks Consensus Estimate of $402.61 million. With the consensus EPS estimate being $0.98, the EPS surprise was +24.49%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determin ...

Revenue Growth and Performance - Total revenue in Q4 2023 was $403.8 million, up 14% y/y, driven by Partners revenue growth of 38% y/y to $130.1 million[7] - Full year 2023 revenue reached $1.56 billion, up 13% y/y, with Partners revenue growing 35% y/y to $468.5 million[8] - Wix expects 2024 bookings growth of 12-14% y/y, accelerating to 15% y/y in 2H24, with full year revenue growth of 11-13% y/y[3][13] - Creative Subscriptions revenue for Q4 2023 reached $296.154 million, a year-over-year increase from $265.268 million in Q4 2022[30] - Business Solutions revenue for Q4 2023 was $107.617 million, up from $89.772 million in Q4 2022[30] - Total revenue for Q4 2023 was $403.771 million, compared to $355.040 million in Q4 2022[30] - Total revenues for the year ended December 31, 2023, increased to $1,561,665 thousand, up from $1,387,666 thousand in 2022, representing a growth of 12.5%[38] - Creative Subscriptions revenues for the year ended December 31, 2023, reached $1,152,007 thousand, compared to $1,039,479 thousand in 2022, a growth of 10.8%[38] - Business Solutions revenues for the year ended December 31, 2023, were $409,658 thousand, up from $348,187 thousand in 2022, a growth of 17.6%[38] - Business Solutions Revenues for Q4 2023 increased to $107.6 million, up from $89.8 million in Q4 2022, representing a 19.9% year-over-year growth[41] - Revenues excluding FX impact for Q4 2023 were $402.3 million, with a 13% year-over-year growth[44] Profitability and Margins - Wix anticipates 2024 free cash flow margin of 21-23%, driven by growth and operational efficiency[3][17] - Wix achieved positive GAAP net income in 2023, two years ahead of plan, with a Q4 FCF margin of 22%[3][7] - Gross profit for Q4 2023 increased to $277.658 million from $226.276 million in Q4 2022[30] - Operating income for Q4 2023 was $1.769 million, a significant improvement from an operating loss of $32.603 million in Q4 2022[30] - Net income for Q4 2023 was $2.954 million, compared to a net loss of $38.975 million in Q4 2022[30] - Basic net income per share for Q4 2023 was $0.05, up from a loss of $0.67 per share in Q4 2022[30] - Wix expects 2024 non-GAAP gross margin of 68-69%, with business solutions gross margin exceeding 30%[16] - Non-GAAP Gross Profit for Q4 2023 was $282.0 million, with a Gross Margin of 70%, up from 65% in Q4 2022[48] - Non-GAAP Operating Income for Q4 2023 was $64.7 million, with an Operating Margin of 16%, compared to 9% in Q4 2022[49] - Non-GAAP Net Income for Q4 2023 was $74.0 million, with Basic Non-GAAP Net Income per Share of $1.29[51] - Non-GAAP Gross Profit for Creative Subscriptions in Q4 2023 was $246.1 million, with a Gross Margin of 83%, up from 79% in Q4 2022[48] Cash Flow and Financial Position - Free Cash Flow for the year ended December 31, 2023, improved significantly to $182,197 thousand from a negative $33,512 thousand in 2022[38] - Cash and cash equivalents increased to $609,622 thousand as of December 31, 2023, from $244,686 thousand in 2022, a growth of 149.2%[36] - Net cash provided by operating activities for the year ended December 31, 2023, was $248,246 thousand, compared to $37,152 thousand in 2022, a significant increase[35] - Free Cash Flow for Q4 2023 was $80.4 million, up from $38.6 million in Q4 2022[52] Share Repurchase and Capital Allocation - Wix completed a $300 million share repurchase plan in February 2024 and is pursuing approvals for an additional $225 million repurchase[3] AI and Product Engagement - Wix's AI products, including AI Site Generator, have seen strong user engagement, with most new users interacting with at least one AI tool[4] Partner and User Growth - Wix Studio attracted over 500,000 agencies and freelancers in six months, with nearly half being new Partners[2] Future Expectations and Guidance - Wix expects 2025 revenue acceleration and to significantly surpass the Rule of 40, driven by 2024 bookings growth[6][13] - The company expects to maintain and enhance its brand and reputation, and plans to localize products and expand payment infrastructure[28] - The company anticipates fluctuations in foreign currency exchange rates, interest rates, and potential illiquidity of banking systems to impact its business[28] Bookings and Recurring Revenue - Total bookings for the year ended December 31, 2023, were $1,597,503 thousand, compared to $1,472,119 thousand in 2022, a growth of 8.5%[38] - Creative Subscriptions ARR (Annual Recurring Revenue) as of December 31, 2023, was $1,192,814 thousand, up from $1,080,824 thousand in 2022, a growth of 10.4%[38] - Total Bookings for Q4 2023 reached $395.0 million, with a 5% year-over-year growth when excluding FX impact[44] - Q1 Cohort Bookings for 2023 were $56 million, compared to $60 million in 2022[43] Share-Based Compensation and Dilution - Share-based compensation expenses for Q4 2023 totaled $58.2 million, slightly down from $59.9 million in Q4 2022[46] - Basic weighted-average shares used to compute net income (loss) per share for Q4 2023 were 57,317,815, compared to 58,189,246 in Q4 2022[54] - Diluted weighted-average shares used to compute net income (loss) per share for Q4 2023 were 59,085,757, compared to 58,189,246 in Q4 2022[54] - Effect of dilutive securities for Q4 2023 was 1,767,942, compared to none in Q4 2022[54] - Stock options excluded from diluted weighted-average shares for Q4 2023 were 2,245,872, compared to 4,332,022 in Q4 2022[54] - Restricted share units excluded from diluted weighted-average shares for Q4 2023 were 818,288, compared to 3,123,019 in Q4 2022[54] - Convertible Notes excluded from diluted weighted-average shares for Q4 2023 were 1,426,728, compared to 3,969,514 in Q4 2022[54] - Total diluted weighted-average shares outstanding for Q4 2023 were 63,576,645, compared to 69,613,801 in Q4 2022[54] - Basic weighted-average shares used to compute net income (loss) per share for FY 2023 were 56,829,962, compared to 57,993,364 in FY 2022[54] - Diluted weighted-average shares used to compute net income (loss) per share for FY 2023 were 58,408,331, compared to 57,993,364 in FY 2022[54] - Effect of dilutive securities for FY 2023 was 1,578,369, compared to none in FY 2022[54] Assets and Liabilities - Total assets increased to $1,805,280 thousand as of December 31, 2023, from $1,758,367 thousand in 2022, a growth of 2.7%[32] - Total liabilities decreased to $1,859,765 thousand as of December 31, 2023, from $2,021,609 thousand in 2022, a reduction of 8.0%[33]