Wix Results Presentation Deck
Third Quarter Highlights
Our third quarter results reflect our continued ability to drive growth through
attracting new users to Wix and improving the conversion of registered users to
premium subscriptions. Revenue and Collections both exceeded the top
end of our guidance range this quarter.
We continue to capitalize on a very large and global market opportunity with a
data driven marketing strategy that produced nearly 5.2 million new registered
users in the quarter.
Conversion reached all time high levels in the third quarter. Improvements
can be attributed to new products we have released and the ongoing
improvements to existing products throughout the year. We added 188,000 net
premium subscriptions in the third quarter.
Most notably, the combination of the Wix Editor and Wix ADI drove
meaningful conversion improvements throughout the third quarter. Wix
Artificial Design Intelligence, or Wix ADI, was released roughly one year ago and
was the first product to market that uses the power of Al in website design. Users
of ADI can create a complete, stunning website, customized to their business and
needs, within minutes. Since its release, we have made several improvements to
the technology and overall product experience, and these efforts are now
showing meaningful results.
With the progress we have made with ADI, we are now actively working on
localizing it for non-English geographies. We continue to improve this product and
believe that it will continue to be a growth driver going forward.
The Wix Code beta has also been a huge success as nearly 7,000 users
participated and provided us with valuable feedback. This product, which mainly
targets designers and developers, will significantly expand our addressable
market and improve conversion as we bring efficiency to the workflow and deliver
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Third Quarter Financial Highlights
GAAP Revenue
$111.0 Million (+47% y/y)
Collections
$120.1 Million (+38% y/y)
Net Cash Provided by Operating Activities
$22.1 Million (+111% y/y)
Free Cash Flow
$18.9 Million (+101% y/y)
Registered Users
114 Million (+23% y/y)
Premium Subscriptions
3.1 Million (+33% y/y)
Results vs. Guidance
Actual Results
GAAP
Revenue $111.0 million
Collections $120.1 million
Prior Guidance
$109-110 million
$117-118 million
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