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Wix.com Ltd. (NASDAQ: WIX) is a leading global software platform that empowers millions of users to create, manage, and grow their online presence. Founded in 2006, Wix has grown exponentially and now serves millions of small businesses, organizations, professionals, and individuals across 190 countries. The company offers a robust cloud-based platform that includes a range of products like Wix Editor and Wix Studio, catering to users with various levels of technical expertise.
Wix operates on a freemium model, providing both free and premium subscription plans. The platform's core features include an intuitive drag-and-drop editor, a highly curated app market, mobile-optimized websites, and advanced SEO tools. These features enable users to build and manage fully integrated and dynamic digital presences without needing extensive technical skills.
Recently, Wix launched several innovative products to enhance user experience further. Wix Proposals, powered by Prospero, offers seamless proposal creation and management. The newly released AI Portfolio Creator utilizes advanced AI technologies to streamline the creation of professional online portfolios. Additionally, Wix introduced AI-powered image enhancement tools like the AI Image Creator, Object Eraser, and AI Image Editor, which assist users in creating high-quality, customized visual content.
Wix's financial outlook remains strong, with robust growth in revenue and free cash flow. As of Q1 2024, the company reported a significant increase in revenue and an optimistic forecast for the rest of the year. The company continues to innovate and expand its offerings, recently making its AI Website Builder available in multiple languages to cater to a global audience.
Wix's commitment to making the internet accessible to everyone has resonated well, resulting in a substantial user base and strong financial performance. The company also engages in strategic partnerships and acquisitions to continually enhance its platform. For more about Wix, visit their Press Room.
DeviantArt has launched a new subscription service allowing artists to monetize their work directly on the platform, catering to Core Members. This service enables artists to create exclusive content tiers and communicate with fans, enhancing their income potential. Additionally, the platform introduces competitive Core Membership plans with fees as low as 2.5%. DeviantArt has also integrated BitPay for cryptocurrency payments, allowing artists to receive earnings in Bitcoin and other digital currencies. The company continues innovating with features like DeviantArt Protect to safeguard artists' works.
Wix.com Ltd. (Nasdaq: WIX) will announce its third quarter 2021 financial results on November 11, 2021, prior to the market opening. A conference call is scheduled for 8:30 a.m. ET on the same day to discuss the results and provide a shareholder update. Interested parties can join the call via US/Canada Toll-Free number +1-877-667-0467 or access it through a live webcast available on Wix's investor relations page.
Wix has partnered with BitPay to introduce cryptocurrency payment options for its eCommerce platform, allowing Wix merchants to accept payments in over 12 cryptocurrencies, including Bitcoin and Ethereum. This integration enables businesses to tap into the vast cryptocurrency market, which has a total cap exceeding
Wix.com has completed a $200 million share repurchase program authorized in May 2021. The company repurchased 895,136 shares, approximately 1.6% of total outstanding shares, at a volume-weighted average price of $223.41 per share. CFO Lior Shemesh stated that this reflects confidence in Wix's business strength and aims to return value to shareholders while pursuing growth. The decision comes as Wix shares are trading below their perceived intrinsic value.
Wix.com Ltd. (Nasdaq: WIX) announced that Joe Pollaro, General Manager, US, will speak at the Wolfe Inaugural TMT Conference on September 8, 2021, at 11:05 a.m. ET. The event will be available through a live audio webcast on Wix's investor relations site. Wix is a leading website development platform with over 210 million registered users globally, helping businesses establish their online presence through various tools and services.
Wix.com Ltd. (Nasdaq: WIX) reported Q2 2021 revenues of $316.4 million, up 34% year-over-year, attributed to growth in both Creative Subscriptions and Business Solutions. Despite these gains, the company noted a mild slowdown in user growth due to pandemic uncertainty. Non-GAAP net loss was $(15.8) million, with GAAP net profit at $38 million, boosted by unrealized gains in equity. Wix updated its 2021 guidance for revenue and cash flow, reflecting ongoing pandemic challenges. A strategic partnership with Vistaprint aims to empower small businesses.
On August 11, 2021, Vistaprint announced a partnership with Wix (Nasdaq: WIX) to enhance small businesses' online presence. Wix will provide the technology for website creation, allowing Vistaprint's 17 million customers to build and manage websites easily. The integration aims to synchronize online and offline marketing efforts. Existing Vistaprint users will migrate to Wix, with expectations of hundreds of thousands of new Wix subscriptions over five years. The collaboration will also position Vistaprint as Wix's primary print partner for physical marketing solutions.
Wix (Nasdaq: WIX) launched the Branded App by Wix, a no-code mobile app builder, enabling users to create tailored native apps for their businesses. This addition supports business owners in enhancing their brand experience with integrated features like booking services and customer engagement tools. Wix data shows that businesses using native apps may experience up to a 510% increase in mobile service bookings. The Branded App is available for an additional cost, but customers can download it for free from app stores.
Wix.com Ltd. (Nasdaq: WIX) announced it will release its second quarter results for the period ending June 30, 2021, before market open on August 11, 2021. A conference call and webcast will follow at 8:30 a.m. ET, where management will discuss the financial outcomes. A press release with results and shareholder updates will precede the call. Investors and interested parties can access additional information through Wix's investor relations page.
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