Wix Q3 FY24 #EarningsReport Summary | $WIX (+1.38%)

In Q3 FY24, http://Wix.com sustained strong momentum through strategic AI integrations, robust partner activity, and innovative product launches. These efforts culminated in accelerated bookings growth and increased profitability metrics.

📊 Income Statement Highlights (vs Q3 FY23):

▫️ Net Income: $26.78M vs $6.98M (+283.70%)

▫️ Revenue: $444.67M vs $393.84M (+12.91%)

▫️ Adjusted EPS: $1.50 vs $1.10 (+36.36%)

▫️ Total Bookings: $449.80M vs $389.10M (+15.62%)

▫️ Free Cash Flow (FCF): $127.76M vs $44.77M (+185.46%)

📊 Segment Revenue Highlights:

▫️ Creative Subscriptions: $318.83M (+9.71%)

▫️ Business Solutions: $125.85M (+21.98%)

💼 Balance Sheet Highlights:

▫️ Total Assets: $1.71B

▫️ Cash and Cash Equivalents: $439.43M

▫️ Deferred Revenues: $656.67M

🔮 Future Outlook:

Wix has raised its FY24 revenue outlook to $1.76B, projecting 13% YoY growth. It anticipates continued AI-driven momentum, robust cohort retention, and FCF margin expansion into FY25.