WIX.com Ltd. - WIX STOCK NEWS

Forter, the Trust Platform for digital commerce, has partnered with Wix.com Ltd. (Nasdaq: WIX), enhancing transaction security for Wix merchants. This collaboration aims to increase approval rates, reduce fraud, and improve customer experience. In 2022, Forter decisioned over $300 billion in transactions and serves more than 200,000 merchants. The integration enables Wix users to maximize conversions, minimize chargebacks, and better manage transaction risk. The partnership is effective immediately and will expand its rollout in the coming months.

Wix announces a significant change to its Board of Directors, effective March 8, 2023, aimed at enhancing its strategic direction. Gavin Patterson, formerly of Salesforce, and Francesco de Mojana, previously of Permira, will join the board, bringing extensive experience in enterprise software and operational efficiencies. These appointments aim to bolster Wix's focus on product-led growth while maintaining profitability, targeting the "Rule of 40" by 2025. Concurrently, board members Yuval Cohen and Roy Saar have resigned after years of service. This strategic refresh is expected to strengthen Wix's leadership as it navigates its next growth phase.

Wix.com Ltd. (NASDAQ: WIX) has announced an expansion of its partnership with Stripe, introducing Tap to Pay on iPhone for U.S.-based merchants. This feature allows Wix users to accept secure, contactless payments directly through their iPhones, eliminating the need for additional hardware. Merchants can process payments from credit/debit cards and digital wallets using the Wix Owner App. This offering enhances Wix's point-of-sale solutions, providing more flexibility and enabling merchants to accept payments anywhere, thereby optimizing their multichannel strategies and potentially increasing sales.

Wix.com Ltd. reported Q4 2022 total revenue of $355 million, up 6% year-over-year, and achieved the highest free cash flow in its history at $52 million. The company expects to generate an additional $50 million in cost savings in 2023, accelerating its path to profitability. Wix aims for positive GAAP net income by FY 2025 and anticipates a free cash flow margin of 10-11% for 2023, improving to 12-13% by year-end. Despite reducing acquisition marketing by 50%, new cohort bookings remained stable, showcasing brand strength. The company executed $243 million in share repurchases, indicating management's confidence in future performance.

Wix.com Ltd. (Nasdaq: WIX) will participate in a fireside chat at the Morgan Stanley Technology, Media & Telecom Conference on March 6, 2023, at 12:15 PM PST. CFO Lior Shemesh will represent the company during this event, which will be held at The Palace Hotel in San Francisco. The discussion will be available via live audio webcast and later as an archived replay on Wix's investor relations website.

Wix helps users create, manage, and grow their digital presence with a comprehensive platform offering business solutions, advanced SEO, and marketing tools.

Wix.com Ltd. (NASDAQ: WIX) has launched its AI Text Creator, integrated within the Wix Editor, on February 14, 2023. This feature employs OpenAI's GPT-3 technology, allowing users to generate high-quality, tailored content for their websites.

The AI Text Creator streamlines content generation by asking targeted questions to produce creative titles, taglines, and paragraphs quickly. This innovation aims to enhance user experience in website building, providing nearly ready-to-use content. The feature is initially available to English-speaking users, with plans for a broader rollout.

Wix.com Ltd. (NASDAQ: WIX) has launched the SEO Dashboard, a comprehensive tool integrating resources from Google Search Console to enhance user SEO strategies. Available in English, the dashboard offers advanced tools, insights, and educational materials tailored for varying skill levels. Users can analyze site performance, view top search queries, and track their site’s visibility on Google. This initiative aims to democratize access to valuable SEO data, aligning with Wix's mission to facilitate seamless workflows for its users.

Wix.com Ltd. (Nasdaq: WIX) will report its fourth quarter and full year results for the period ending December 31, 2022, on February 22, 2023. A conference call and webcast will take place at 8:30 a.m. ET on the same day to discuss the financial outcomes. Prior to this event, a press release will be issued alongside a shareholder update. Wix continues to be a leading platform for creating digital presence, offering various business solutions and tools for users.

Wix.com Ltd. (Nasdaq: WIX) announced on January 4, 2023, that an Israeli court has approved an extension of its share repurchase program by six months, now ending on July 4, 2023. The program allows for the repurchase of up to $110 million in ordinary shares and convertible notes. As of December 31, 2022, Wix repurchased 2,928,611 shares for a total of $243 million under a previously authorized $300 million program. The continuation reflects management's confidence in generating free cash flow and aims to enhance shareholder value.