WIX.com Ltd. - WIX STOCK NEWS

Wix reported strong Q2 2024 results with total bookings of $458.4 million, a 15% y/y increase, driven by the success of Wix Studio, AI capabilities, and commerce platform expansion. Total revenue was $435.7 million, up 12% y/y, exceeding expectations. The company's Q2 FCF margin expanded to 27% due to operating leverage.

Partners revenue saw a 29% y/y growth, with a record take rate of 1.68% due to transaction revenue increasing by 21% y/y. Q2 GAAP net income stood at $39.5 million, while non-GAAP net income reached $99.6 million.

Wix raised its full-year FCF outlook to $460 - $470 million and updated its full-year bookings outlook to $1,802 - $1,822 million. The company expects to achieve the Rule of 40 milestone this year, driven by strong top-line growth and margin improvements.

Wix.com (NASDAQ: WIX) has expanded its strategic partnership with Google, becoming the first reseller of Gemini for Workspace. This advanced generative AI solution integrates seamlessly with Google Workspace apps, enabling Wix users to enhance productivity and creativity across various tasks. Gemini empowers users to write documents, design slideshows, manage emails, and organize projects more efficiently.

The collaboration aims to provide Wix users with cutting-edge tools to streamline their work processes. Initially, Gemini for Google Workspace with Wix will be available to US-based users in English. This partnership underscores both companies' commitment to innovation and supporting growing businesses in maximizing their resources through AI-powered solutions.

Wix.com (NASDAQ: WIX) has unveiled a comprehensive suite of AI-powered tools for blog creation and ideation. These tools are designed to suggest relevant topics, generate content and images, and streamline the blogging process. Key features include:

1. AI-generated drafts and outlines
2. Topic suggestions based on existing site content
3. Automatic blog post creation about specific products or services
4. Customization options for personalized content
5. SEO optimization tools
6. AI-driven image generation

Wix reports that sites with blogs receive 86% more organic traffic compared to those without. The new AI tools aim to help users produce high-quality content more efficiently while maintaining authenticity. The features are currently available to English users and are integrated with Wix's business solutions for enhanced functionality.

Wix.com (Nasdaq: WIX), the leading SaaS website builder platform globally, has announced it will report its second quarter 2024 results on August 7, 2024, before the market opens. The company will host a conference call and webcast at 8:30 a.m. ET to discuss the financial results. Prior to the call, Wix will issue a press release with the results, a shareholder update, and additional materials on their investor relations website.

Wix, founded in 2006, has evolved from a website builder to a complete platform offering enterprise-grade performance, security, and reliable infrastructure. The company provides a wide range of commerce and business solutions, advanced SEO, and marketing tools, enabling users to fully control their brand, data, and customer relationships.

On July 10, 2024, Wix announced that its Board approved a $200 million share repurchase program, adding to the $1 billion already repurchased since 2021.

This demonstrates confidence in the company's cash flow generation and commitment to increasing shareholder value. The repurchase will be executed through various methods, including open market and private transactions, compliant with U.S. securities laws. The program, starting after a 30-day creditor review period, can be halted at any time. Funding will come from cash on hand and operational cash flow.

Wix has announced new features aimed at developers during their annual DevStudio Conference, held this year in Bangalore, India. These updates are designed to streamline the app development process, enhance extensibility, and provide new revenue opportunities within the Wix App Market. Highlights include the Wix Command-line Interface (CLI), which supports TypeScript, React, and Node.js for efficient development, and the Wix Design System, which includes reusable components and Figma kits for consistent app design. Additionally, new templates expedite the app creation process, while new plugins extend the functionality of existing Wix apps. The conference also introduced tools for improved app discoverability and certification, offering developers a potential revenue boost with a 100% revenue share in the first year.

Wix.com announced the launch of a new Figma to Wix Studio plugin, enabling users to convert Figma designs into interactive websites seamlessly. This plugin leverages Wix Studio's no-code animations, CMS, AI tools, and business solutions to streamline the web development process. Launched in 2023, Wix Studio provides features such as a redesigned editor, multi-site management, and monetization opportunities. According to Gali Erez, Head of Product at Wix Studio, the plugin aims to enhance design efficiency and boost conversions.

Wix.com has announced that its AI Website Builder is now available in multiple languages, allowing users to create business-ready websites in their preferred language. The builder uses conversational AI to guide users through the website creation process, asking questions to understand their goals and preferences. It then creates a professional website with customized layout, text, and images, fully optimized for security, performance, and marketing. Since its initial launch, the tool has been used to create hundreds of thousands of websites. The languages supported include English, Portuguese, Spanish, French, German, Italian, Japanese, Korean, and Turkish.

Wix has launched an AI-driven feature for its mobile app builder, enabling users to create professional, fully customizable native mobile applications for iOS and Android without any coding. This tool uses a conversational AI chat experience to gather the user's intent and goals, and then generates a uniquely designed app that can be further customized using Wix's Mobile App Editor. Users have full ownership of their apps, including branding and synchronization with their Wix dashboard. This feature is available to global users in English with the premium Branded App plan, starting at $99 per month.