Wix.com (WIX) Investor presentation summary

Strategic and product highlights

• Launched proprietary LLM powering Harmony, enabling faster, more accurate website creation at 5% of third-party model costs and reducing vendor dependency.

• Expanded Harmony and Base44 integration into major AI platforms, allowing users to build sites and apps directly within ChatGPT, Copilot, and Claude.

• Introduced Superagents in Base44, enabling no-code autonomous AI agent creation and deployment, with seamless messaging integration.

• Enhanced Base44 with new design tools, Figma-to-app conversion, and URL-to-app features, streamlining onboarding and app development.

• Collaborated with Microsoft to make Wix sites agentic-optimized, improving real-time AI-driven site data accessibility.

Financial performance

• Q1'26 revenue grew 14% y/y to $541.2M; bookings up 15% y/y to $585.0M; ARR reached $1.903B, up 15% y/y.

• Creative Subscriptions revenue rose 13% y/y to $382.4M; Business Solutions revenue up 17% y/y to $158.8M.

• Base44 ARR surged from $100M in March to $150M in May, driven by strong demand and user monetization.

• Partners revenue grew 19% y/y to $203.4M, but growth slowed due to reduced marketing and delayed product rollouts.

• Non-GAAP gross margin was 66%, down from 69% y/y, with Creative Subscriptions at 80% and Business Solutions at 32%.

Profitability, cash flow, and capital allocation

• Non-GAAP net income was $42.5M (8% of revenue); GAAP net loss was $57.5M due to acquisition-related expenses.

• Free cash flow (ex-acquisition costs) was $112.3M (21% of revenue), down 21% y/y due to higher S&M spend.

• Completed $1.6B Dutch tender offer, repurchasing nearly 30% of shares outstanding at $92/share, funded by cash and a $500M credit facility.

• Ended Q1'26 with $2.02B in cash and $1.13B in long-term debt; net debt post-tender was ~$700M.

• Employee count was 5,277, down 63 from the previous quarter.