Wix.com Stock Price, News & Analysis

Wix.com Ltd. reported robust Q3 2020 financial results, with total revenue reaching $254.2 million, up 29% year-over-year. Creative Subscriptions revenue increased by 23% to $203.0 million, while Business Solutions revenue surged by 60% to $51.2 million. Despite strong demand, the company faced a GAAP net loss of $(56.8) million. Free cash flow decreased by 34% to $19.4 million. Looking ahead, Wix anticipates Q4 revenue between $266-271 million, reflecting continued strong demand for online presence services.

Wix.com Ltd (Nasdaq: WIX) announced the appointment of Ferran Soriano to its board of directors. Soriano, CEO of City Football Group since 2012, brings extensive experience in building businesses and brands across various international markets. His prior role as Vice Chairman and CEO of FC Barcelona contributed significantly to the club's transformation. Wix aims to leverage Soriano's expertise to drive growth in its expanding platform, which currently serves over 189 million users globally.

Wix (Nasdaq: WIX) expands its Wix Playground Academy to Europe, launching in January 2021. The program aims to enhance design skills for aspiring designers through workshops and mentorship at no cost. Transitioning to a digital format due to COVID-19, the Academy has successfully adapted, allowing greater accessibility. The European session runs from January 4 to January 29, 2021, with applications open until mid-December. Graduates have found employment at top design firms globally, indicating the program's effectiveness in bridging education and industry.

Wix.com Ltd. (Nasdaq: WIX) will report its third-quarter financial results for 2020 on November 12, 2020, before market opening. A conference call will take place at 8:30 a.m. ET on the same day to discuss the results. The call will also include a shareholder update and additional materials. Investors can access the information via Wix's investor relations website.

Wix has announced a partnership with Vodafone, aimed at assisting UK-based small and medium-sized businesses (SMBs) in establishing an online presence. Through the Vodafone Business Marketplace, customers can choose Wix subscription packages to create professional websites and online stores. The initiative includes personalized support from a technician to guide users through the setup. This collaboration marks a significant milestone for Wix's Channels initiative, enhancing its global reach. The service is expected to expand to other Vodafone markets soon.

Wix (NASDAQ: WIX), the leader in website creation, introduced a new digital-first typeface called Madefor. Developed in collaboration with Dalton Maag, this custom typeface will replace Wix's legacy font, aiming to enhance the brand's identity and usability across various digital platforms. Madefor features five design concepts with a minimalist and geometric style, optimized for online readability. It includes three display weights and three text weights, designed to provide clarity and aesthetic appeal for Wix's global audience.

Wix.com has launched Wix Capital, a venture capital initiative aimed at investing in technology innovators in the web space. The fund will focus on early-stage investments in sectors like online design, commerce, and AI. To date, Wix Capital has invested over $5.6 million in startups such as Spike and Oriente, expanding Wix's reach in communication tools and fintech. This initiative aims to leverage Wix’s experience as a successful growth company to support emerging startups that align with its strategic goals.

Wix.com Ltd. (Nasdaq: WIX) has announced the pricing of a $500 million private offering of 0% Convertible Senior Notes due 2025. The offering includes an option for initial purchasers to buy an additional $75 million in Notes. The Notes will mature on August 15, 2025, and have an initial conversion rate of 2.4813 shares per $1,000 principal amount. Wix expects to net approximately $486.3 million from this offering, which will be used for capped call transactions and potential acquisitions.

Wix.com Ltd. plans to offer $500 million of Convertible Senior Notes due 2025 in a private offering to qualified institutional buyers. An additional $75 million may be issued for over-allotments. The notes, which will be unsecured obligations, will have an interest rate paid semi-annually and mature on August 15, 2025. Convertible at specific conditions, they can be repurchased or redeemed under certain circumstances. Funds may be used for capped call transactions, strategic acquisitions, or general corporate purposes, enhancing financial flexibility.