WIX.com Ltd. - WIX STOCK NEWS

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.

Usercentrics has partnered with Wix to introduce Cookiebot™ for Wix by Usercentrics, a consent management solution available on the Wix App Market.

This plug-and-play tool helps website owners comply with privacy regulations like the GDPR.

Key features include an easy setup, customizable banners, automated scan reports, auto-categorization of apps, and support for 47+ languages. This initiative aims to enhance privacy compliance and empower Wix users with advanced consent management capabilities.

Usercentrics currently manages over 5.2 billion monthly consents, serving over 2 million websites and apps globally. The partnership aims to provide Wix customers with a competitive edge in a privacy-conscious market.

Wix.com (NASDAQ: WIX) has issued its 2023 Environmental, Social, and Governance (ESG) Report, detailing the company's commitment to corporate responsibility. The report covers Wix's efforts to support its users, employees, and local communities, and highlights the company's focus on building sustainable plans and maintaining high standards of corporate governance. CEO Avishai Abrahami emphasized the importance of these initiatives, presenting both qualitative and quantitative data to showcase Wix's accomplishments and future goals. The full ESG report is available online for further details.

Wix (Nasdaq: WIX) announced the completion of a $225 million share repurchase program authorized by its Board of Directors in August 2023. The company repurchased 1,676,623 outstanding shares, approximately 3% of total shares, at an average price of $134.20 per share.

Wix, a leading SaaS website builder, offers a comprehensive platform for creating, managing, and growing a digital presence with advanced SEO, marketing tools, and secure infrastructure.

The repurchase indicates Wix's confidence in its financial health and commitment to enhancing shareholder value.

Usercentrics, a leader in data privacy solutions, has partnered with Wix (NASDAQ: WIX) to launch Cookiebot™ for Wix by Usercentrics on the Wix App Market. This plug-and-play solution simplifies the implementation of consent management for website owners, ensuring compliance with regulations like GDPR. Notable features include a streamlined setup, customizable user experience in over 47 languages, automated scan reports, and auto-categorization of apps.

The launch positions Wix customers as leaders in privacy compliance. The partnership aims to enhance Wix's strategy of broadening its product offerings with leading technology partners, potentially driving increased user engagement on Wix platforms.

Wix reported strong Q1 2024 results, with total revenue of $419.8 million, up 12% year-over-year (y/y), and total bookings of $457.3 million, a 10% y/y increase. The company's Creative Subscriptions revenue rose by 9% to $304.3 million, while Business Solutions revenue surged by 20% to $115.5 million. Wix achieved a record free cash flow (FCF) margin of 26%, driven by stable costs and robust product traction, particularly from AI offerings and Wix Studio. GAAP operating income reached $9.7 million, marking the second consecutive quarter of GAAP operating profit. Looking ahead, Wix raised its full-year bookings outlook to $1,796-$1,826 million and revenue forecast to $1,738-$1,761 million. The company anticipates strong bookings growth in the second half of 2024, driven by AI products and Wix Studio.