Wix Reports Fourth Quarter and Full Year 2024 Results

Core Insights - Wix.com Ltd. reported strong financial results for Q4 and FY 2024, with significant growth in bookings and revenue, and is on track to achieve Rule of 45 in 2025 [1][4][14] Financial Performance - Q4 2024 bookings reached $465 million, an 18% increase year-over-year (y/y), while revenue was $460 million, up 14% y/y [4][5] - For the full year 2024, total revenue was $1.761 billion, reflecting a 13% y/y growth, with Creative Subscriptions revenue at $1.265 billion, up 10% y/y [10][6] - Free cash flow (FCF) nearly doubled in 2024 compared to the previous year, achieving a Q4 FCF margin of 29% and a full-year margin of 28% [4][10] Product and Innovation - The company introduced innovative AI solutions, including a new generation AI Website Builder and enhancements to the Studio platform, which are expected to drive future growth [2][17] - Wix anticipates that the launch of two transformative products in 2025 will significantly enhance the Self Creator experience and contribute to double-digit growth [2][11] Market Dynamics - The company experienced strong momentum in key product areas, particularly in Studio, AI, and commerce, alongside a stable operating cost base [4][17] - Partners revenue grew by 30% y/y in FY 2024, indicating robust performance in the agency and freelancer segment [4][10] Future Outlook - Wix expects bookings for FY 2025 to be between $2.025 billion and $2.060 billion, representing an 11-13% growth, with revenue projected between $1.970 billion and $2.000 billion, a 12-14% increase [13][12] - The company is incorporating minimal contributions from new products into its 2025 forecast, focusing instead on existing growth initiatives [11][12]