STOXPO
  • Latest News
  • Technology
    • Software
    • Semiconductors
  • Healthcare
    • Biotechnology
    • Pharmaceuticals
  • Crypto
    • Altcoins
    • Bitcoin
    • Ethereum
  • Companies
    • Micro-Cap
    • Small-Cap
    • Mid-Cap
    • Large-Cap
    • Mega-Cap
  • Q&A’s
  • Contributions
No Result
View All Result
  • Latest News
  • Technology
    • Software
    • Semiconductors
  • Healthcare
    • Biotechnology
    • Pharmaceuticals
  • Crypto
    • Altcoins
    • Bitcoin
    • Ethereum
  • Companies
    • Micro-Cap
    • Small-Cap
    • Mid-Cap
    • Large-Cap
    • Mega-Cap
  • Q&A’s
  • Contributions
No Result
View All Result
STOXPO
No Result
View All Result
Home Technology Software
trading-chart

Wix Reports Stellar Q1 2024 Results, Anticipates Significant Revenue Growth in 2025

byLiliana Vida
May 20, 2024
in Software
Reading Time: 2 mins read
Share on TwitterShare on LinkedIn

Record Performance Drives Strong Future Outlook

Wix has announced its Q1 2024 financial results, showcasing impressive performance and setting the stage for substantial revenue growth in the coming year. The company reported a total revenue of $419.8 million for the first quarter, reflecting a robust 12% year-over-year (y/y) increase. This growth is expected to accelerate further in 2025, with confidence high that Wix will significantly exceed the Rule of 40, a key performance metric for software companies.

Key highlights from Q1 2024 include:

  • Creative Subscriptions: Revenue reached $304.3 million, a 9% y/y increase, with an annual recurring revenue (ARR) of $1.24 billion, up 10% y/y.
  • Business Solutions: Revenue surged by 20% y/y to $115.5 million, with transaction revenue contributing $49.5 million, up 17% y/y.
  • Partners Revenue: Grew substantially by 33% y/y to $138.4 million.

Total bookings in Q1 2024 were $457.3 million, marking a 10% y/y increase. Notably, Business Solutions bookings grew by 21% y/y to $122.6 million. The company’s gross margin remained solid, with a GAAP basis margin of 67% and a non-GAAP margin of 68%.

Financially, Wix reported a GAAP net income of $24.0 million ($0.43 per basic share) and a non-GAAP net income of $77.3 million ($1.38 per basic share). The company generated $113.8 million in net cash from operating activities, with free cash flow reaching $105.7 million.

Wix’s strategic initiatives and product offerings have positioned it well for continued growth. The company has raised its full-year bookings outlook to $1,796-$1,826 million, expecting 12-14% y/y growth. This increase is driven by stronger-than-expected performance and higher customer retention following a recent price increase.

The outlook for the second half of 2024 includes anticipated bookings growth acceleration to 16%, propelled by AI products enhancing conversion rates and the ramp-up of Wix Studio. As Wix continues to innovate and expand its market reach, it is well-poised for a strong financial trajectory heading into 2025.

You might like this article:Biotech and Tech Stocks Surge Amid Promising Developments

Tags: EarningsGrowthMovers
Previous Post

Biotech and Tech Stocks Surge Amid Promising Developments

Next Post

Macy’s Outperforms Q1 Expectations Amid Strategic Shifts and Buyout Speculations

Related Posts

investing

Intel Shares Climb After CEO Lip-Bu Tan Meets with President Trump

byLuca Blaumann
August 12, 2025
0

Meeting marks a shift in tone after Trump’s call for Tan’s resignation over China ties Intel (INTC) stock rose more...

LegalZoom Soars as Bank of America Upgrades Rating on AI Momentum and Subscription Growth

byLuca Blaumann
August 8, 2025
0

BofA sees LegalZoom’s strategic shift toward subscriptions and AI partnerships as key drivers of long-term value LegalZoom (LZ) shares jumped...

trading-chart-2

Palantir Surges Past $1 Billion Quarterly Revenue, Lifts Guidance Amid AI Boom

byLiliana Vida
August 4, 2025
0

AI-driven growth, strong U.S. contracts, and Trump’s cost-cutting push propel Palantir into the top 10 U.S. tech companies by market...

Next Post
macy's-storefront

Macy's Outperforms Q1 Expectations Amid Strategic Shifts and Buyout Speculations

Latest News

Professional Diversity Network Partners with OOKC Group to Build Web3.0 Banking Platform

Ulta Beauty Posts Strong Q2 Results with 9.3% Sales Growth

Tesla’s European Sales Slide Deepens Amid Rising Competition

Nvidia Surpasses Earnings Expectations as AI Demand Fuels Growth

Cracker Barrel Reverts to Classic Logo After Backlash and Trump Pressure

Based on Your Interest

Large-Cap

U.S. Secures 10% Stake in Intel Amid Tumultuous Turnaround

August 25, 2025
Large-Cap

Casual Dining’s Comeback: Why Sit-Down Chains Are Beating Fast Casual

August 21, 2025
Large-Cap

Intel Seeks More Equity Infusions Amid Mounting Financial Strains

August 20, 2025

Recommended

Mid-Cap

Viking Therapeutics Shares Plunge After High Dropout Rate in Weight-Loss Pill Trial

August 19, 2025
Large-Cap

Intel Shares Surge After $2 Billion SoftBank Investment

August 19, 2025
Bitcoin

Strategy Expands Bitcoin Holdings With $51 Million Purchase

August 18, 2025
Aerospace & Defense

Amphenol Expands Defense Portfolio With $1 Billion Trexon Acquisition

August 18, 2025
Insurance

Buffett Bet Sends UnitedHealth Shares Soaring

August 18, 2025
Stoxpo

Follow us on social media:

Highlights

  • Professional Diversity Network Partners with OOKC Group to Build Web3.0 Banking Platform
  • Ulta Beauty Posts Strong Q2 Results with 9.3% Sales Growth
  • Tesla’s European Sales Slide Deepens Amid Rising Competition
  • Nvidia Surpasses Earnings Expectations as AI Demand Fuels Growth
  • Cracker Barrel Reverts to Classic Logo After Backlash and Trump Pressure

Category

  • Blog
  • Communication Services
    • Entertainment
    • Internet
    • Telecommunications
  • Companies
    • Large-Cap
    • Mega-Cap
    • Micro-Cap
    • Mid-Cap
    • Small-Cap
  • Consumer Cyclical
    • Auto Manufacturers
    • Casinos & Gambling
    • Ground Transportation
    • Hospitality
      • Casinp
      • Resorts & Lodging
      • Restaurants
      • Travel
        • Airlines
    • Retail
    • Textiles, Apparel & Luxury Goods
  • Consumer Defensive
    • Beverages
    • Discount Stores
    • Distributor
    • Ecommerece
    • Electrical Equipment
    • Foods
    • Household & Personal Products
    • Leisure Products
    • Tobacco
  • Contributions
  • Crypto
    • Altcoins
    • Bitcoin
    • Ethereum
  • Economy
  • Energy
    • Electric
    • Oil & Gas
    • Renewables
  • Financial Services
    • Asset Management
    • Banks
    • Brokerages
    • Credit Services
    • Insurance
  • Healthcare
    • Biotechnology
    • Medical Devices
    • Pharmaceuticals
  • Industrials
    • Aerospace & Defense
    • Construction
    • Industrial Machinery
  • Materials
    • Building Materials
    • Chemicals
    • Gold
    • Mining
    • Silver
    • Steel
  • Q&A's
  • Real Estate
  • Technology
    • Artificial Intelligence
    • Computer Hardware
    • Consumer Electronics
    • Cybersecurity
    • IT Services
    • Semiconductors
    • Software
  • Utilities

Latest News

Professional Diversity Network Partners with OOKC Group to Build Web3.0 Banking Platform

August 29, 2025
virtual makeup

Ulta Beauty Posts Strong Q2 Results with 9.3% Sales Growth

August 28, 2025
tesla-2

Tesla’s European Sales Slide Deepens Amid Rising Competition

August 28, 2025
  • About
  • Privacy Policy
  • Contact

© 2024 All Rights Reserved: STOXPO.

No Result
View All Result
  • Latest News
  • Healthcare
    • Biotechnology
    • Pharmaceuticals
  • Technology
    • Software
    • Semiconductors
  • Crypto
    • Bitcoin
    • Ethereum
    • Altcoins
  • Companies
    • Micro-Cap
    • Small-Cap
    • Mid-Cap
    • Large-Cap
    • Mega-Cap
  • Q&A’s
  • Contributions

© 2024 All Rights Reserved: STOXPO.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Read More

In case of sale of your personal information, you may opt out by using the link Do Not Sell My Personal Information

Accept Cookie Settings
Cookies are small text files that can be used by websites to make a user's experience more efficient. The law states that we can store cookies on your device if they are strictly necessary for the operation of this site. For all other types of cookies we need your permission. This site uses different types of cookies. Some cookies are placed by third party services that appear on our pages.
  • Always Active
    Necessary
    Necessary cookies help make a website usable by enabling basic functions like page navigation and access to secure areas of the website. The website cannot function properly without these cookies.
  • Marketing
    Marketing cookies are used to track visitors across websites. The intention is to display ads that are relevant and engaging for the individual user and thereby more valuable for publishers and third party advertisers.
  • Analytics
    Analytics cookies help website owners to understand how visitors interact with websites by collecting and reporting information anonymously.
  • Preferences
    Preference cookies enable a website to remember information that changes the way the website behaves or looks, like your preferred language or the region that you are in.
  • Unclassified
    Unclassified cookies are cookies that we are in the process of classifying, together with the providers of individual cookies.
Cookie Settings

Do you really wish to opt-out?