Wix.com Ltd. Reports Q2 2024 Results

Ticker: WIX · Form: 6-K · Filed: 2024-08-07T00:00:00.000Z

Sentiment: neutral

Topics: earnings, results, sec-filing

Related Tickers: WIX

TL;DR

WIX dropped Q2 results on 8/7, check the 6-K for details.

AI Summary

Wix.com Ltd. (NASDAQ: WIX) filed a Form 6-K on August 7, 2024, to report its second quarter 2024 results. The filing includes a press release detailing the company's financial performance for the period.

Why It Matters

This filing provides investors with the latest financial performance data for Wix.com Ltd., crucial for understanding the company's current operational health and future prospects.

Risk Assessment

Risk Level: low — This is a routine earnings report filing, not indicating new or unusual risks.

Key Players & Entities

FAQ

What is the purpose of this Form 6-K filing?

The Form 6-K is filed by Wix.com Ltd. to report its second quarter 2024 results, attaching a press release with the details.

When was this Form 6-K filed with the SEC?

This Form 6-K was filed on August 7, 2024.

What is the stock ticker for Wix.com Ltd.?

The stock ticker for Wix.com Ltd. is WIX, traded on NASDAQ.

Where are Wix.com Ltd.'s principal executive offices located?

Wix.com Ltd.'s principal executive offices are located at 5 Yunitsman St., Tel Aviv, Israel.

Does Wix.com Ltd. file annual reports under Form 20-F or 40-F?

Wix.com Ltd. files annual reports under Form 20-F, as indicated by the checkmark in the filing.

From the Filing

0001576789-24-000024.txt : 20240807 0001576789-24-000024.hdr.sgml : 20240807 20240807083053 ACCESSION NUMBER: 0001576789-24-000024 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20240807 FILED AS OF DATE: 20240807 DATE AS OF CHANGE: 20240807 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Wix.com Ltd. CENTRAL INDEX KEY: 0001576789 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMPUTER PROGRAMMING, DATA PROCESSING, ETC. [7370] ORGANIZATION NAME: 06 Technology IRS NUMBER: 000000000 STATE OF INCORPORATION: L3 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-36158 FILM NUMBER: 241181699 BUSINESS ADDRESS: STREET 1: 5 YUNITSMAN ST. CITY: TEL AVIV STATE: L3 ZIP: 000000 BUSINESS PHONE: 97235454900 MAIL ADDRESS: STREET 1: 5 YUNITSMAN ST. CITY: TEL AVIV STATE: L3 ZIP: 000000 FORMER COMPANY: FORMER CONFORMED NAME: Wixpress Ltd. DATE OF NAME CHANGE: 20130513 6-K 1 wix-6xkxsecondquarter2024.htm 6-K Document UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________ FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER Pursuant to Rule 13a-16 or 15d-16 of the Securities Exchange Act of 1934 For the month of August 2024 Commission File Number: 001-36158 Wix.com Ltd. (Translation of registrant’s name into English) 5 Yunitsman St., Tel Aviv, Israel, 6936025 (Address of principal executive offices) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Form 20-F ☒ Form 40-F ☐ EXPLANATORY NOTE On August 7, 2024, Wix.com Ltd. (NASDAQ: WIX) issued a press release titled “Wix Reports Second Quarter 2024 Results”. A copy of this press release is attached to this Form 6-K as Exhibit 99.1 . SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Date: August 7, 2024 WIX.COM LTD. By: /s/ Naama Kaenan Name: Naama Kaenan Title: General Counsel EXHIBIT INDEX The following exhibit is filed as part of this Form 6-K: Exhibit Description 99.1 Press release dated August 7 , 2024 titled “Wix Reports Second Quarter 2024 Results”. EX-99.1 2 secondquarter2024results.htm EX-99.1 Document Exhibit 99.1 Wix Reports Second Quarter 2024 Results Accelerated bookings growth, driven by key product initiatives, and FCF margin expansion in Q2 builds momentum for 2H • Meaningful bookings growth acceleration with total bookings of $458.4 million, up 15% y/y, as a result of strong Wix Studio uptake, benefits from growing AI capabilities and commerce platform expansion as well as positive response to the price increase implemented earlier this year ◦ Bookings growth accelerated across both Self Creators and Partners ◦ Continue to expect bookings growth acceleration to 16% y/y in 2H at the high end of full year guidance range • Total revenue of $435.7 million exceeded expectations, up 12% y/y, driven by strong Partners growth of 29% y/y • Record take rate of 1.68%, driven by transaction revenue growth of 21% y/y as we added a new payment partner to Wix Payments • Continued margin expansion with Q2 FCF 1 margin of 27%, driven by additional operating leverage ◦ High end of increased full year FCF 1 outlook positions us to achieve the Rule of 40 milestone this year, one full year ahead of plan NEW YORK, August 7, 2024 -- Wix.com Ltd. (Nasdaq: WIX), the leading SaaS website builder platform globally 2 , today reported financial results for the second quarter of 2024. In addition, the Company provided its outlook for the third quarter and an updated outlook for full year 2024. Please visit the Wix Investor Relations website at https://investors.wix.com/ to view the Q2'24 Shareholder Update and other materials. “Exc

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