Exhibit 99.1 Wix Reports Third Quarter 2024 Results Strong performance of key product initiatives drove third consecutive quarter of bookings growth acceleration – now expect to exit 2024 with y/y bookings growth of 18% NEW YORK, November 20, 2024 -- Wix.com Ltd. (Nasdaq: WIX), the leading SaaS website builder platform , today reported financial results for the third quarter of 2024. In addition, the Company provided its outlook for the fourth quarter and an updated outlook for full year 2024. Please visit ...

Core Insights - Wix.com Ltd. reported strong financial performance in Q3 2024, with total bookings of $449.8 million, reflecting a 16% year-over-year growth, driven by Studio momentum, AI benefits, and robust commerce activity [1][2] - The company expects to exit 2024 with year-over-year bookings growth of 18%, raising its full-year bookings, revenue, and free cash flow guidance [1][4][7] - Free cash flow margin expanded to approximately 29%, indicating strong operational leverage and bookings strength [1][3] Financial Performance - Total revenue for Q3 2024 reached $444.7 million, up 13% year-over-year, with Creative Subscriptions revenue at $318.8 million (up 10% y/y) and Business Solutions revenue at $125.8 million (up 22% y/y) [2][3][26] - Non-GAAP net income for Q3 2024 was $89.3 million, translating to $1.62 per basic share, while GAAP net income was $26.8 million, or $0.49 per basic share [3][21] - Creative Subscriptions Annualized Recurring Revenue (ARR) increased to $1.31 billion, up 11% year-over-year [2][26] Growth Drivers - The company highlighted the success of its Studio product, with 75% of new Partner bookings coming from Studio accounts, indicating strong adoption among agencies [2] - AI innovations, particularly the AI-powered user onboarding tool, demonstrated a 13% uplift in conversion rates for the Self Creator cohort [1][2] - Wix anticipates further growth acceleration and margin expansion in 2025, supported by ongoing product innovations and a stable operating cost structure [8][10] Updated Guidance - Wix raised its full-year bookings outlook to $1,822 - $1,832 million, reflecting 14-15% year-over-year growth, compared to previous guidance of $1,802 - $1,822 million [4] - The updated revenue outlook for the full year is now $1,757 - $1,764 million, maintaining a 13% year-over-year growth expectation [5][6] - The company expects Q4 2024 revenue to be between $457 - $464 million, representing 13-15% year-over-year growth [6]

The new offering generates dynamic and custom visual sitemaps and wireframe options, providing  more efficient ways for agencies to plan, structure, and build their websites NEW YORK – – Wix.com Ltd. (NASDAQ: WIX), the leading SaaS website builder platform globally1, announced today the launch of its AI-powered visual sitemap and wireframe generator tool for Wix Studio. The new offering allows agencies and enterprises to accelerate site planning with a fully-native, AI-powered visual sitemap tool that can s ...

In its upcoming report, Wix.com (WIX) is predicted by Wall Street analysts to post quarterly earnings of $1.44 per share, reflecting an increase of 30.9% compared to the same period last year. Revenues are forecasted to be $443.27 million, representing a year-over-year increase of 12.6%.Over the last 30 days, there has been no revision in the consensus EPS estimate for the quarter. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.A ...

Wix.com Ltd (WIX) is slated to report third-quarter 2024 results on Nov. 20.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.The company expects third-quarter revenues to be between $440 million and $445 million, implying 12-13% growth from the prior-year quarter's reported figure. The Zacks Consensus Estimate is pegged at $443.3 million, indicating an increase of 12.6% from a year ago.The Zacks Consensus Estimate for earnings is pegged at $1.44 per share, up 30.9% from the year-earl ...

Core Insights - The report emphasizes the importance of storytelling for agencies to showcase innovation and differentiate themselves in the digital landscape [1][2] - It explores how agencies can leverage emerging technologies like VR and AI to enhance storytelling and create immersive, personalized experiences [2][3] Company Overview - Wix.com Ltd. is recognized as the leading SaaS website builder platform globally, providing a comprehensive suite of tools for users to create and manage their digital presence [4] - The company focuses on continuous innovation, offering advanced SEO, marketing tools, and enterprise-grade performance to empower users [4] Industry Trends - The SoDA Report On series addresses pivotal issues and trends in digital marketing and creative industries, highlighting the evolving role of storytelling [6] - Agencies are encouraged to refine their strategies to adapt to the fast-changing digital environment, utilizing storytelling as a strategic asset [3][6]

Group 1: Brokerage Recommendations for Wix.com - Wix.com has an average brokerage recommendation (ABR) of 1.52, indicating a consensus between Strong Buy and Buy based on 21 brokerage firms' recommendations [2] - Out of the 21 recommendations, 14 are Strong Buy and 3 are Buy, accounting for 66.7% and 14.3% of all recommendations respectively [2] - Despite the positive ABR, caution is advised as studies show limited success of brokerage recommendations in predicting stock price increases [3][8] Group 2: Limitations of Brokerage Recommendations - Brokerage firms often exhibit a strong positive bias in their ratings due to vested interests, leading to a disproportionate number of favorable ratings compared to negative ones [4][8] - The interests of brokerage firms may not align with those of retail investors, providing little insight into future stock price movements [5] - Analysts' recommendations are often overly optimistic, which can mislead investors [8] Group 3: Zacks Rank as an Alternative Indicator - Zacks Rank categorizes stocks into five groups based on earnings estimate revisions, which have shown a strong correlation with near-term stock price movements [6][9] - The Zacks Rank is updated more frequently than the ABR, making it a timely tool for predicting future stock prices [10] - Wix.com currently holds a Zacks Rank 3 (Hold), with an unchanged consensus earnings estimate of $5.85 for the current year [11][12]

Company Performance - Wix.com shares increased by 6.5% to close at $183.64, with notable trading volume compared to typical sessions, and a 2.9% gain over the past four weeks [1] - The rise in share price is attributed to strong topline performance driven by higher adoption of AI products and WIX Studio, which are significant growth drivers for the company [2] Product Development - The addition of new features and enhancements to WIX Studio is contributing to its increased uptake, with management noting better-than-expected growth in Studio accounts and new Partners joining the platform [3] Financial Outlook - Following a strong second quarter, management raised the 2024 outlook for bookings, revenues, and free cash flow, with revenues now expected to be between $1,747 million and $1,761 million, and total bookings projected between $1,802 million and $1,822 million [4] - The upcoming quarterly earnings are projected at $1.44 per share, reflecting a year-over-year increase of 30.9%, with revenues expected to reach $443.27 million, a 12.6% increase from the previous year [5] Earnings Estimates - The consensus EPS estimate for Wix.com has remained unchanged over the last 30 days, indicating that stock price movements may not continue without trends in earnings estimate revisions [6]

Company Performance - Wix.com closed at $165.80, with a gain of +1.46% on the most recent trading day, outperforming the S&P 500's gain of 1.23% [1] - Over the past month, Wix.com shares increased by 3.37%, while the Computer and Technology sector experienced a loss of 0.04% and the S&P 500 lost 0.54% [1] Upcoming Earnings - Wix.com is set to release its earnings report on November 20, 2024, with projected EPS of $1.44, indicating a 30.91% increase year-over-year [2] - Revenue is expected to reach $443.27 million, reflecting a 12.55% increase compared to the same quarter last year [2] Full Year Projections - For the full year, earnings are projected at $5.85 per share and revenue at $1.75 billion, representing increases of +33.26% and +12.37% respectively from the prior year [3] - Changes in analyst estimates for Wix.com are important indicators of near-term business trends, with positive revisions suggesting a favorable business outlook [3] Valuation Metrics - Wix.com has a Forward P/E ratio of 27.94, which is higher than the industry average of 27.21, indicating a premium valuation [6] - The company has a PEG ratio of 1.25, compared to the industry average PEG ratio of 2.79, suggesting a more favorable growth outlook relative to its valuation [6] Industry Context - The Computers - IT Services industry, part of the Computer and Technology sector, holds a Zacks Industry Rank of 37, placing it in the top 15% of over 250 industries [7] - The Zacks Industry Rank is based on the average Zacks Rank of individual stocks, with top-rated industries outperforming lower-rated ones by a factor of 2 to 1 [7]

Wix.com (WIX) closed at $167.88 in the latest trading session, marking a -1.01% move from the prior day. This move lagged the S&P 500's daily loss of 0.33%. At the same time, the Dow lost 0.22%, and the tech-heavy Nasdaq lost 0.56%.The cloud-based web development company's shares have seen an increase of 7.68% over the last month, surpassing the Computer and Technology sector's gain of 2.83% and the S&P 500's gain of 1.83%.Analysts and investors alike will be keeping a close eye on the performance of Wix.co ...