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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.
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.
Name.com has partnered with Wix to offer customers direct access to Wix's platform. This integration allows users to register domains and build professional websites seamlessly. With various Wix plans available, users can select domain names and connect to business email solutions like Google Workspace. Notably, a promotion offers a free domain registration and Google Workspace for one year with an annual Wix plan purchase. This collaboration aims to streamline the online presence establishment process for professionals and small business owners.
Wix.com Ltd. (Nasdaq: WIX) reported Q3 2022 revenue of $345.8 million, an 8% year-over-year increase. Notably, constant currency revenue rose to $350.8 million, marking a 10% gain. The company successfully implemented a cost reduction plan, improving gross margins and generating positive non-GAAP net income. Wix forecasts a return to non-GAAP operating income in Q4 2022, with expected free cash flow between $47-50 million. The board has authorized a $300 million share repurchase plan, reinforcing its commitment to shareholder value.
Wix.com Ltd. (NASDAQ: WIX) announced that CFO Lior Shemesh and US GM Joe Pollaro will participate in a fireside chat at the 2022 RBC Global Technology, Internet, Media and Telecom Conference on November 15, 2022, at 3:10 p.m. ET. The event will be held at the InterContinental Barclay New York Hotel and will be available via live audio webcast on Wix's investor relations website.
Wix is recognized for its comprehensive platform enabling users to create and manage their digital presence effectively.
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