Welcome to our dedicated page for Wix.com news (Ticker: WIX), a resource for investors and traders seeking the latest updates and insights on Wix.com stock.
Wix.com Ltd. develops a software-as-a-service platform for creating, managing and growing a digital presence through websites, business tools and online services. News about WIX commonly covers product development in Wix Harmony, Wix Studio and Base44, AI-enabled creation workflows, integrations such as the Wix app in ChatGPT, and platform capabilities for commerce, scheduling, payments, SEO, accessibility, performance and security.
Company updates also include quarterly and annual results, bookings and revenue commentary, management conference appearances, ordinary-share tender offers, share repurchase programs and other capital-allocation actions.
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.
Wix.com Ltd. (Nasdaq: WIX) reported strong Q2 2020 financial results, surpassing revenue and collections guidance. Total revenue reached $236.1 million, a 27% increase year-over-year. The company added 9.3 million users and 346,000 premium subscriptions, indicating robust demand amid economic disruptions. However, GAAP net loss was $(57.7) million, compared to $(16.7) million in Q2 2019. Looking ahead, Wix projects Q3 revenue between $247 - 250 million and collections of $270 - 275 million, reflecting continued growth momentum despite uncertainty related to COVID-19.
On July 30, 2020, Wix.com, Ltd. (NASDAQ: WIX) announced a collaboration with the Philippines Department of Education to launch the "Digital Rise Program." This initiative aims to transition schools to e-learning by creating 43,000 digital learning sites accessible to students. With a focus on assisting teachers in creating these platforms without coding experience, Wix supports the education sector's adaptation to remote learning due to COVID-19. The program is viewed as a model for enhancing education in developing countries.
Wix.com Ltd. (Nasdaq: WIX) will announce its Q2 2020 financial results on August 6, 2020, before market opens. A conference call will follow at 8:30 a.m. ET to discuss the results and field investor questions. Prior to this, Wix will release a detailed press release and shareholder update. Investors can access the call through a toll-free number and view a webcast on the Wix Investor Relations site. This announcement marks a significant event for stakeholders as it provides insights into the company’s performance during a key financial quarter.
Wix.com, a leader in website creation, announced the opening of a new office in Denver, Colorado, set to launch in the fall of 2020. This expansion follows significant growth, with plans to enhance customer support by increasing its Customer Care team to over 200 employees. The Denver office will also accommodate roles in sales and account management as part of a strategy to serve over 170 million users. This move is expected to strengthen Wix's operations and support its continued growth trajectory.
Wix.com (Nasdaq: WIX) has launched an extended eCommerce solution aimed at empowering merchants and entrepreneurs across various sectors. Key features include customizable storefronts, multi-channel sales, dropshipping, and integrated payment processing via Wix Payments. Enhanced offerings come with Ascend by Wix, a complete CRM suite, and Corvid by Wix, a web development platform. The new solution is designed to support business owners in navigating the growing online shopping demand, providing tools for finance management, sales, fulfillment, and analytics.