Wix.com Ltd

WIX

Equity

ISIN IL0011301780 / Valor 22510221

NASDAQ (2024-09-18)

USD 159.54-0.38%

Wix.com Ltd
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About company

Wix.com Ltd is a website development platform founded by Avishai Abrahami, Nadav Abrahami, and Giora Kaplan. The company was created to provide a user-friendly solution for individuals and businesses to easily create their own websites without the need for coding or design skills. The platform aims to empower users to build professional-looking websites at an affordable cost, eliminating the frustrations and high expenses typically associated with website creation.

Summarized from source with an LLMView SourceSector: Technology

Revenue Growth

Wix.com Ltd reported a strong revenue growth for Q2 2024, with total revenue reaching $436 million, marking a 12% increase year over year. This growth was driven by robust performance in their commerce business and strategic initiatives.

Transaction Revenue

In Q2 2024, Wix.com Ltd's transaction revenue saw a significant increase, growing by 21% year over year to $54 million. This was attributed to healthy Gross Payment Volume (GPV) growth and improved monetization strategies.

Bookings Performance

Wix.com Ltd experienced standout bookings performance in Q2 2024, with total bookings amounting to $458 million, reflecting a 15% growth year over year. This acceleration was driven by strong user absorption of price increases and contributions from strategic initiatives.

Operating Margin

Wix.com Ltd reported an impressive improvement in operating margins for Q2 2024. Both GAAP and non-GAAP operating margins increased by more than 400 basis points sequentially, primarily due to lower operating expenses and payroll efficiencies.

Free Cash Flow

For Q2 2024, Wix.com Ltd's free cash flow, excluding headquarter buildout costs, totaled nearly $118 million, representing 27% of revenue. This was a result of continued strong top-line growth and a more efficient operating cost base.

Summarized from source with an LLMView Source

Key figures

68.5%1Y

-24.6%3Y

28.1%5Y

Performance

39.2%1Y

58.4%3Y

59.6%5Y

Volatility