Zinger Key Points
- Wix beats Q4 estimates with $460.46M revenue and $1.93 EPS, as AI-driven innovations boost growth and market share.
- Wix stock surges 82% in 12 months, with analysts bullish on Studio upgrades and gains against WordPress.
- Get real-time earnings alerts before the market moves and access expert analysis that uncovers hidden opportunities in the post-earnings chaos.
On Wednesday, SaaS website builder platform Wix.com Ltd WIX reported its fiscal fourth-quarter 2024 results. Revenue grew 14% year over year to $460.46 million, marginally missing the analyst consensus estimate of $461.75 million. Adjusted EPS of $1.93 beat the analyst consensus estimate of $1.59.
Also Read: Baidu Q4 Earnings: AI Cloud Grows, Margin Slides, Expects AI Investments To Bear Fruit In 2025
Creative Subscription revenue increased 11% Y/Y to $329.7 million. The Creative Subscriptions bookings climbed 15% Y/Y to $325.2 million. Creative Subscriptions ARR was $1.34 billion, up 13% Y/Y.
Partners revenue in the quarter was $168.1 million, up 29% Y/Y. Business Solutions’ revenue rose 21% Y/Y to $130.7 million, and bookings jumped 25% Y/Y to $139.4 million.
The adjusted gross margin remained firm at 70%. As of December end, Wix.com generated $133.74 million in operating cash flow and held $999.53 million in cash and equivalents.
Co-founder and CEO Avishai Abrahami said 2024 was one of the exciting innovations as Wix introduced revolutionary AI solutions such as the new generation AI Website Builder. Wix also made meaningful enhancements to the Studio platform, including the AI visual sitemap, wireframe generator, and Figma integration.
The year 2025 is poised to reimagine and expand the Self Creator experience by launching two transformative products planned for the spring and early fall.
Outlook: Wix.com expects fiscal 2025 revenue of $1.970 billion—$2.000 billion vs. the consensus of $2.018 billion. Wix.com projects 2025 bookings of $2.025 billion—$2.060 billion.
The company expects to generate free cash flow, excluding headquarters costs, of $590 million—$610 million.
Wix.com expects first-quarter fiscal 2025 revenue of $469 million—$473 million versus a consensus of $481.47 million.
Wix.Com stock surged 82% in the last 12 months. Raymond James’ Josh Beck and JMP Securities’ Andrew Boone noted Wix is gaining market share and will likely continue doing so through 2025, backed by Studio product improvements and potential benefits from the lawsuit and negative headlines surrounding rival WordPress.
Price Action: WIX stock traded higher by 6.51% at $242.60 premarket last check Wednesday.
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