Wix.com Ltd. Files 20-F for Fiscal Year Ended December 31, 2023

TL;DR

<b>Wix.com Ltd. has submitted its annual 20-F filing for the fiscal year 2023, detailing its business operations and financial standing.</b>

AI Summary

Wix.com Ltd. (WIX) filed a Foreign Annual Report (20-F) with the SEC on March 22, 2024. Wix.com Ltd. filed its annual report on Form 20-F for the fiscal year ending December 31, 2023. The filing covers the period from January 1, 2023, to December 31, 2023. The company's principal executive offices are located at 5 Yunitzman St., Tel Aviv, Israel. Wix.com Ltd. was formerly known as Wixpress Ltd., with a name change effective May 13, 2013. The SIC code for Wix.com Ltd. is 7370, related to computer programming and data processing services.

Why It Matters

For investors and stakeholders tracking Wix.com Ltd., this filing contains several important signals. This 20-F filing provides a comprehensive overview of Wix.com Ltd.'s business, financial performance, and risk factors for the fiscal year 2023, which is crucial for investors to assess the company's current health and future prospects. The filing includes detailed financial information, executive compensation, and risk disclosures, offering insights into the company's strategic direction and operational challenges in the competitive web development and e-commerce market.

Risk Assessment

Risk Level: medium — Wix.com Ltd. shows moderate risk based on this filing. The company operates in the highly competitive online presence and website development market, facing risks from evolving technology and competitor actions, as indicated by its SIC code and business description.

Analyst Insight

Investors should review the detailed financial statements and risk factors within the 20-F to understand Wix.com Ltd.'s performance and strategic positioning.

Key Numbers

• 2023-12-31 — Fiscal Year End (The end date of the reporting period.)
• 2024-03-22 — Filing Date (The date the 20-F was filed.)
• 7370 — SIC Code (Standard Industrial Classification for computer programming and data processing.)

Key Players & Entities

• Wix.com Ltd. (company) — Filer of the 20-F report.
• Wixpress Ltd. (company) — Former name of Wix.com Ltd.
• Tel Aviv, Israel (location) — Location of Wix.com Ltd.'s principal executive offices.

FAQ

Risk Factors

• Competition [high — market]: The company faces intense competition in the website development and digital solutions market from various players, which could impact its market share and profitability.
• Technological Changes [medium — operational]: Rapid technological advancements and changes in user preferences require continuous innovation and adaptation of its platform and services.
• Currency Fluctuations [medium — financial]: As a global company, Wix.com Ltd. is exposed to risks associated with fluctuations in foreign currency exchange rates, which can affect its financial results.

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 20-F filing.
• 2024-03-22: Filing Date — Date Wix.com Ltd. submitted its 20-F annual report.

Glossary

20-F

An annual report required by the U.S. Securities and Exchange Commission (SEC) for foreign private issuers. (Provides a comprehensive overview of the company's business, financial performance, and risk factors for the fiscal year.)

SIC Code

Standard Industrial Classification code used to classify businesses by industry. (Helps categorize Wix.com Ltd.'s primary business activities in computer programming and data processing.)

Filing Documents

• wix-20231231.htm (20-F) — 2805KB
• a20-fxexhibit121x2023.htm (EX-12.1) — 8KB
• a20-fxexhibit122x2023.htm (EX-12.2) — 8KB
• a20-fxexhibit131x2023.htm (EX-13.1) — 3KB
• a20-fxexhibit132x2023.htm (EX-13.2) — 3KB
• a20-fxexhibit151x2023.htm (EX-15.1) — 5KB
• a20-fxexhibit21x2023.htm (EX-2.1) — 38KB
• a20-fxexhibit42x2023.htm (EX-4.2) — 315KB
• a20-fxexhibit43x2023.htm (EX-4.3) — 154KB
• a20-fxexhibit81x2023.htm (EX-8.1) — 42KB
• a20-fxexhibit971x2023.htm (EX-97.1) — 32KB
• wix-20231231_g1.jpg (GRAPHIC) — 5KB
• wix-20231231_g2.jpg (GRAPHIC) — 14KB
• wix-20231231_g3.jpg (GRAPHIC) — 20KB
• wix-20231231_g4.jpg (GRAPHIC) — 20KB
• wix-20231231_g5.jpg (GRAPHIC) — 31KB
• wix-20231231_g6.jpg (GRAPHIC) — 109KB
• wix-20231231_g7.jpg (GRAPHIC) — 23KB
• wix-20231231_g8.jpg (GRAPHIC) — 18KB
• wix-20231231_g9.jpg (GRAPHIC) — 12KB
• wix-20231231_g10.jpg (GRAPHIC) — 14KB
• wix-20231231_g11.jpg (GRAPHIC) — 9KB
• wix-20231231_g12.jpg (GRAPHIC) — 9KB
• wix-20231231_g13.jpg (GRAPHIC) — 15KB
• wix-20231231_g14.jpg (GRAPHIC) — 8KB
• wix-20231231_g15.jpg (GRAPHIC) — 13KB
• wix-20231231_g16.jpg (GRAPHIC) — 3KB
• 0001576789-24-000011.txt (&nbsp;) — 13268KB
• wix-20231231.xsd (EX-101.SCH) — 65KB
• wix-20231231_cal.xml (EX-101.CAL) — 107KB
• wix-20231231_def.xml (EX-101.DEF) — 347KB
• wix-20231231_lab.xml (EX-101.LAB) — 792KB
• wix-20231231_pre.xml (EX-101.PRE) — 564KB
• wix-20231231_htm.xml (XML) — 1945KB

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 1 70 ITEM 12.

DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES

DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES 1 7 2 PART II 1 7 3 ITEM 13. DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES 1 7 3 ITEM 14. MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS 1 7 3 ITEM 15.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 1 7 3 ITEM 16A. AUDIT COMMITTEE FINANCIAL EXPERT 1 7 4 ITEM 16B. CODE OF ETHICS 1 7 4 ITEM 16C. PRINCIPAL ACCOUNTANT FEES AND SERVICES 1 7 5 ITEM 16D. EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES 1 7 5 ITEM 16E. PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS 1 7 6 ITEM 16F. CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT 1 7 7 ITEM 16G. CORPORATE GOVERNANCE 1 7 7 ITEM 16H. MINE SAFETY DISCLOSURE 1 7 7 ITEM 16I. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS. 1 7 7 I TEM 16K . CYBERSECURITY 1 7 8 PART III 1 80 ITEM 17.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 1 80 ITEM 18.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 1 80 ITEM 19. EXHIBITS 1 80 3 INTRODUCTION In this annual report, the terms "Wix," "we," "us," "our" and the "company" refer to Wix.com Ltd. and its subsidiaries. This annual report may include statistical, market and industry data and forecasts which we obtained from publicly available information and independent industry publications and reports that we believe to be reliable sources. These publicly available industry publications and reports generally state that they obtain their information from sources that they believe to be reliable, but they do not guarantee the accuracy or completeness of the information. Although we believe that these sources are reliable, we have not independently verified the information contained in such publications. Certain estimates and forecasts involve uncertainties and risks and are subject to change based on various factors, including those discussed under the headings "—Special Note Regarding Forward-Looking Statements" and Item 3.D. "Key Information—Risk Factors" in this annual report. Throughout this annual report, we refer to various trademarks, service marks and trade names that we use in our business. The "Wix.com" design logo is the property of Wix.com Ltd. Wix is our registered trademark in the United States. We have several other trademarks, service marks and pending applications relating to our solutions. Other trademarks and service marks appearing in this annual report are the property of their respective holders. We define certain terms used in this Annual Report as follows: "Bookings" or "bookings" is a non-GAAP financial measure calculated by adding the change in deferred revenues and the change in unbilled contractual obligations for a particular period to revenues for the same period. Bookings include cash receipts for premium subscriptions purchased by users as well as cash we collect from Business Solutions, as well as payments due to us under the terms of contractual agreemen

IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS

ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS Not applicable.

OFFER STATISTICS AND EXPECTED TIMETABLE

ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE Not applicable.

KEY INFORMATION

ITEM 3. KEY INFORMATION A. [Reserved] B. Capitalization and Indebtedness Not applicable. C. Reasons for the Offer and Use of Proceeds Not applicable. D. Risk Factors Our business faces significant risks. You should carefully consider all of the information set forth in this annual report and in our other filings with the United States Securities and Exchange Commission, or SEC, including the following risk factors that could materially and adversely affect our business, financial condition, operating results and growth. Our business, financial condition and results of operations could be materially and adversely affected by any of these risks. In that event, the trading price of our ordinary shares would likely decline and you might lose all or part of your investment. See "Special Note Regarding Forward-Looking Statements" starting on page 5. Risk Factors Summary The following is a summary of the principal risks that could materially and adversely affect our business, financial condition, operating results and growth prospects. Risks Related to Our Business and Our Industry We may be unable to attract new registered users from which we can generate new premium subscriptions and additional business solutions, attract partners that will sell our solutions to, or purchase our solutions on behalf of, their customers, retain existing premium subscriptions, or increase the adoption of our business solutions, among others, due to pricing decisions we may make. We may be unable to maintain and enhance the strength of our brand. Our selling and marketing activities, and any adjustments we may make to our marketing strategy, may fail to generate new users or partners or fail to increase the revenue we generate from premium subscriptions to the levels we anticipate. We may be unable to maintain a consistently high level of Customer Care. 8 We may be unable to generate significant revenues from sources other than our premium subscriptions, such as from o

View Full Filing

View this 20-F filing on SEC EDGAR