WIX.com Ltd. - WIX STOCK NEWS

Wix.com Ltd. (NASDAQ: WIX) has announced the relaunch of its hotel management solution, Wix Hotels, in partnership with HotelRunner. This enhanced platform is designed to support various accommodation types, enabling users to create websites and manage properties, bookings, and sales channels effectively. Key features include integrations with major booking channels, real-time inventory updates, and front desk management capabilities. The solution is currently in beta and aims to meet the rising demand for digitalization in the hospitality industry, especially post-pandemic.

Wix reported Q1'22 revenues of $341.6 million, up 14% year-over-year, with total bookings reaching $393.2 million, an increase of 12% y/y. Creative Subscriptions revenue was $255 million, growing 13%. The company is targeting 20% free cash flow margins by 2025, despite facing macroeconomic headwinds. A projected revenue of $342 - $346 million for Q2'22 reflects 8-10% growth y/y. Wix continues its partnership growth, highlighted by a new collaboration with LegalZoom, while managing costs effectively.

Wix.com Ltd. (Nasdaq: WIX) announced details for its upcoming conference call on May 16, 2022, to discuss first-quarter results ending March 31, 2022. This will include a shareholder update and registration for the virtual Analyst & Investor Day on May 19, 2022. The conference call starts at 8:30 a.m. ET, with live and replay options available. Wix aims to outline key growth initiatives and a three-year financial plan during the Analyst & Investor Day. More information and access to both events will be available on their investor relations website.

Wix.com Ltd (NASDAQ: WIX) has partnered with LegalZoom.com, Inc (NASDAQ: LZ) to support small business owners in creating and managing their online presence. This collaboration will integrate services allowing entrepreneurs to form their businesses legally in the U.S. while building their website simultaneously. LegalZoom's legal and compliance tools combined with Wix's website-building capabilities aim to streamline small business startups, providing tailored solutions at various stages of business development. The joint offering is expected to launch in the second half of 2022.

Wix.com Ltd. (Nasdaq: WIX) has launched a new Seating Map Builder for businesses and venues, allowing them to create customized seating maps for events. This tool enables customers to select and purchase assigned seats easily. The builder accommodates various seating arrangements, and businesses can price tickets based on seat locations. Since its release, average ticket sales and prices have increased. Wix Events has seen an 88% year-over-year rise in gross payments volume, with 75% more tickets sold online in Q1 2022 compared to Q1 2021. The builder is available to all Wix premium users at no additional cost.

Wix has partnered with DoorDash Drive to enhance delivery services for restaurants using the Wix Restaurants platform. This integration allows restaurant owners to manage delivery directly through their websites and branded apps, thereby reducing logistics challenges without the need to establish their own delivery fleets. The partnership aims to improve profitability with flat-rate delivery fees and provide valuable customer insights. DoorDash Drive's scalable fleet will support restaurants in reaching more customers and enhancing service efficiency.

Wix.com Ltd. (Nasdaq: WIX) will announce its first quarter 2022 results on May 16, 2022, followed by a virtual Analyst & Investor Day on May 19, 2022, at 8:30 AM ET. Key management will discuss growth initiatives and present a three-year financial plan. Additionally, Wix's board has approved a $500 million securities repurchase program, pending court approval in Israel. The repurchase will comply with SEC regulations and may be paused at Wix's discretion. Live webcasts of the events will be accessible via Wix's investor relations site.

Wix.com Ltd. (Nasdaq: WIX) has announced a new integration with Amazon's Multi-Channel Fulfillment (MCF) to help Wix eCommerce merchants in the US streamline order fulfillment. This app allows merchants to access Amazon's logistics network for fast shipping options, with delivery in as little as one day. Key benefits include improved sales conversion through upfront delivery promises and competitive pricing with no upfront fees. The goal is to alleviate operational complexities for merchants, enabling them to focus on growth by leveraging Amazon's robust fulfillment capabilities.