For the quarter ended March 2024, Wix.com (WIX) reported revenue of $419.78 million, up 12.2% over the same period last year. EPS came in at $1.29, compared to $0.91 in the year-ago quarter. The reported revenue compares to the Zacks Consensus Estimate of $417.71 million, representing a surprise of +0.50%. The company delivered an EPS surprise of +25.24%, with the consensus EPS estimate being $1.03. Here is how Wix.com performed in the just reported quarter in terms of the metrics most widely monitored and ...

Wix earned $24 million, 41 cents per share fully diluted, on revenue of almost $420 million during the quarter. Israeli website creator Wix (NASDAQ:WIX) beat earnings estimates, sending WIX stock up 20%. WIX stock opened today at $150 per share, a market cap of over $8 billion. That means shares are now up 27% for 2024. Wix competes with Squarespace (NASDAQ:SQSP), Shopify (NASDAQ:SHOP) and WordPress, among others. Website Builder rates it 4.9 out of 5, praising its diverse set of features and intuitive edit ...

It is not too yet too late to build a position in Wix.com Ltd (NASDAQ: WIX), says Mark Zgutowicz – a Benchmark analyst. Are you looking for signals & alerts from pro-traders? Sign-up to Invezz Signals™ for FREE. Takes 2 mins. Wix stock could climb further to $175 Copy link to section Wix stock is up 10% this morning after beating Street estimates in its fiscal first quarter. But shares of the website creator could extend their rally all the way up to $175, as per Zgutowicz. His price objective suggests anot ...

What's Next for Wix.com? While Wix.com has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near ...

Financial Performance - Total revenue for Q1 2024 was $419.8 million, up 12% year-over-year, driven by strong performance in the Partners business and increased Wix Studio uptake[10]. - Total bookings in Q1 2024 reached $457.3 million, reflecting a 10% year-over-year growth, with Creative Subscriptions bookings at $334.6 million, up 7% year-over-year[10]. - GAAP net income for Q1 2024 was $24.0 million, or $0.43 per basic share, while non-GAAP net income was $77.3 million, or $1.38 per basic share[10]. - Net income for Q1 2024 was $24.0 million, compared to a net loss of $10.4 million in Q1 2023, indicating a turnaround in profitability[30]. - Basic net income per share for Q1 2024 was $0.43, compared to a loss of $0.18 per share in Q1 2023[30]. - Operating income for Q1 2024 was $9.7 million, a significant improvement from an operating loss of $33.3 million in Q1 2023[30]. - Non-GAAP operating income increased to $69,421,000 in Q1 2024, compared to $48,518,000 in Q1 2023, resulting in a non-GAAP operating margin of 17% versus 13%[50]. - Non-GAAP net income rose to $77,287,000 in Q1 2024, up from $51,099,000 in Q1 2023, with basic non-GAAP net income per share increasing to $1.38 from $0.91[52]. Cash Flow and Margins - Free cash flow (FCF) margin for Q1 2024 was a record 26%, significantly ahead of the three-year plan, with FCF of $105.7 million[4]. - The company anticipates generating free cash flow of $445 - $455 million for 2024, or approximately 26% of revenue, up from previous expectations of 21-23%[17]. - Free cash flow for Q1 2024 was $105,711 thousand, significantly higher than $25,029 thousand in Q1 2023[38]. - Non-GAAP gross margin improved to 68% in Q1 2024, compared to 67% in Q1 2023[49]. - Non-GAAP total gross margin is expected to be 68-69% for the full year 2024, with Business Solutions gross margin projected to exceed 30%[15]. Revenue Breakdown - Creative Subscriptions annual recurring revenue (ARR) increased to $1.24 billion as of the end of Q1 2024, up 10% year-over-year[10]. - Creative Subscriptions revenue increased to $304.3 million in Q1 2024 from $278.1 million in Q1 2023, representing a growth of 9%[30]. - Business Solutions revenue rose to $115.5 million in Q1 2024, up from $95.9 million in Q1 2023, marking a growth of 20%[30]. - Total revenues for Q1 2024 reached $419,776 thousand, a 12% increase from $374,076 thousand in Q1 2023[38]. Future Outlook - The company raised its full-year bookings outlook to $1,796 - $1,826 million, representing 12-14% year-over-year growth, with an acceleration to 16% expected in the second half of 2024[12]. - The company expects to achieve positive GAAP operating income for the full year 2024, marking a second consecutive year of GAAP net income[16]. - The strong performance in Q1 2024 is attributed to robust product traction, particularly in AI offerings and Wix Studio, which are expected to drive growth in 2024 and beyond[3]. Assets and Liabilities - Total current assets decreased to $999.9 million as of March 31, 2024, down from $1,070.2 million at the end of 2023[32]. - Total assets as of March 31, 2024, were $1.69 billion, a decrease from $1.80 billion at the end of 2023[32]. - Total liabilities increased to $1.89 billion as of March 31, 2024, compared to $1.86 billion at the end of 2023[32]. - Total shareholders' deficiency was reported at $(194,206) thousand, compared to $(54,485) thousand in the previous period[33].

Record increase to FCF outlook driven by Q1 outperformance and expected 2H bookings acceleration – now anticipating 26% FCF margin in FY2024, one year ahead of plan and within clear sight of hitting Rule of 40 milestone already this year NEW YORK, May 20, 2024 /PRNewswire/ -- Wix.com Ltd. (Nasdaq: WIX), the leading SaaS website builder platform globally2, today reported financial results for the first quarter of 2024. In addition, the Company provided its outlook for the second quarter and an increased outl ...

Wix.com (WIX) introduced three new AI-based image enhancement and creation tools to assist users in improving, customizing, and personalizing visual content for their websites. These tools include the AI Image Creator, Object Eraser and AI Image Editor. In May, the company launched the AI Portfolio Creator, a groundbreaking tool that leverages the power of artificial intelligence (AI) to aid users in crafting and showcasing an online professional portfolio. WIX highlighted that the new AI Portfolio Creator ...

Growth in the number of registered users and premium subscriptions are key revenue drivers. At the end of fourth-quarter 2023, registered users were 263 million. Average revenue per subscription is likely to have been driven by the shift to higher-tier packages, high pricing, and increased adoption and usage of business solution products. Healthy adoption of WIX Studio is likely to have driven the overall monetization of partner cohorts. In the last reported quarter, revenues from Partners business grew nea ...

The new AI-powered tools include a new image generator, an object eraser, and an image editor with the ability to add and replace objects, empowering users to level up their site's visual content NEW YORK, May 16, 2024 /PRNewswire/ -- Wix.com Ltd. (NASDAQ: WIX), the leading SaaS website builder platform to create, manage, and grow a global, digital presence1, today announced the launch of three new AI-powered image enhancement and creation tools to help users create and display high-quality images that impr ...

Analysts on Wall Street project that Wix.com (WIX) will announce quarterly earnings of $1.03 per share in its forthcoming report, representing an increase of 13.2% year over year. Revenues are projected to reach $417.71 million, increasing 11.7% from the same quarter last year. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe. Ahead of a company's earni ...