Wix.com Ltd. · NASDAQ:WIX

Wix.com — Q1 2024 Earnings Presentation

28 slides from Wix.com's earnings presentation, May 20, 2024

  1. Slide 1: Company Overview First Quarter 2024

    Company Overview First Quarter 2024

  2. Slide 2: Safe Harbor: Forward Looking Statements

    Safe Harbor Forward Looking Statements ‘This document contains forward-looking statements, within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties, Such forwarclooking statements may include projections regarding o

  3. Slide 3: Safe Harbor: Non-GAAP Financial Measures and Key Operating Metrics

    Safe Harbor Non-GAAP Financial Measures and Key Operating Metrics ‘To supplement its consolidated financial statements, which are prepared and presented in accordance with U.S. GAAP, Wik uses the following non-GAAP financial measures: bookings, cumulative cohort bookings, bookings on a constant curr

  4. Slide 4: Company Overview

    Company Overview Total registered users1 Creative Subscriptions Employees1 % of revenue from outside North Annualized Recurring Revenue1 America 2 >268M ~$1.2B ~5,200 ~40% Q1’24 GPV Q1’24 Transaction Revenue Q1’24 Partners Revenue Q1’24 FCF Margin3 $3.1B $50M $138M (+14% y/y) (+17% y/y) (+33% y/y) 2

  5. Slide 5: Our Vision

    Our Vision Where any business, community or person can create their dreams online.

  6. Slide 6: Wix becoming the primary platform for every type of online presence

    We believe that Wix is becoming the primary platform for every type of online presence around the world. Our goal is to offer products and services that are simply the best option for any type of user and for any type of business.

  7. Slide 7: Financial Overview and Update

    Financial Overview and Update

  8. Slide 8: Total Revenue

    Total Revenue $1,738 – $1,761 $1,562 $420 $450 $1,388 $404 $390 $394 $410 $400 $374 $1,270 $342 $345 $346 $355 $115 $348 $350 $103 $108 $103 $319 $96 $87 $85 $90 $300 $87 $250 $200 $1,152 $296 $304 $1,039 $150 $278 $287 $291 $950 $255 $258 $261 $265 $100 $50 $0 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3

  9. Slide 9: Consistent Creative Subscriptions ARR Expansion

    Consistent Creative Subscriptions ARR Expansion $1,182 $1,193 $1,244 $1,135 $1,160 $1,071 $1,081 $1,038 $1,053 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24

  10. Slide 10: Total Bookings

    Total Bookings $1,796 - $1,826 $457 $1,598 $415 $398 $395 $1,472 $393 $389 $1,419 $372 $123 $355 $352 $423 $101 $351 $93 $105 $105 $112 $331 $90 $85 $83 $335 $1,175 $300 $313 $294 $1,088 $1,121 $270 $270 $282 $284 $284 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 2021 2022 2023 2024E

  11. Slide 11: Tremendous Partners Momentum

    Tremendous Partners Momentum Q1'22 Q1'23 Q1'24 2021 2022 2023

  12. Slide 12: Transaction Revenue Growth

    Transaction Revenue Growth Q1'22 Q1'23 Q1'24 2021 2022 2023

  13. Slide 13: Increasing Monetization of User Cohorts

    Increasing Monetization of User Cohorts $278 $270 $268 $257 $240 $233 $241 $210 $207 $208 $199 $180 $150 $145 $126 $120 $83 $90 $70 $60 $32 $58 $41 $30 $- 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 5

  14. Slide 14: Efficient Marketing Based on TROI

    Efficient Marketing Based on TROI $233 $207 $126 $83 $81 $64 $57 $36 $32 $33 Q1'24 Cohort Q1'23 Cohort Q1'22 Cohort Q1'21 Cohort Q1'20 Cohort

  15. Slide 15: Existing Cohorts are a Growing Source of Future Bookings

    Existing Cohorts are a Growing Source of Future Bookings ~$16.2 Billion Q1'10 Q1'11 Q1'12 Q1'13 Q1'14 Q1'15 Q1'16 Q1'17 Q1'18 Q1'19 Q1'20 Q1'21 Q1'22 Q1'23 Q1'24 Q1'25 Q1'26 Q1'27 Q1'28 Q1'29 Q1'30 Q1'31 Q1'32 Q1'33

  16. Slide 16: Broad Geographic Reach

    Broad Geographic Reach FX-Neutral Revenue by Geography (% of total) and Q1'24 Y/Y Growth North America +11% Y/Y 60% of total as Europe +13% Y/Y 25% of total Asia and others +12% Y/Y 11% of total Latin America +9% Y/Y 4% of total Note: @1'24 Revenue by Geography and Y/Y change based on constant FX ra

  17. Slide 17: Increasing Revenue Retention

    Increasing Revenue Retention 2016 2017 2018 2019 2020 2021 2022 2023

  18. Slide 18: Operational efficiency driving increasing gross profit and marketing leverage

    Global strength of the Wix brand and focus on operational efficiency driving increasing gross profit and leverage of sales and marketing investments $1,200 200% $1,067 180% $1,000 160% $882 $799 140% $800 $300 $282 $287 200% $266 $269 120% $250 180% $250 $232 $216 $223 160% $600 100% $212 140% $200

  19. Slide 19: Efficiencies across operating cost structure drove profitability improvements

    Efficiencies across operating cost structure from completed cost reduction efforts drove profitability improvements in 2023 and continues into 2024 83% 83% 83% 83% 82% ~83% 77% 79% 80% 78% 77% 76% 76% 70% 68-69% 68% 68% 68% 68% 67% 65% 65% 62% 64% 62% 66% 66% 65% 57% 33% 54% 54% 54% 53% 30% 29% >30%

  20. Slide 20: Free cash flow

    Free cash flow $400 $445 - 455 90% $350 80% 70% $300 $246 60% $250 50% $200 40% $150 $128 $132 30% ~26% $100 16% 20% 17% $51 $50 13% $32 10% 4% $- 2% 0% 2019 2020 2021 2022 2023 2024E

  21. Slide 21: Progressing Towards Rule of 40 Ahead of Plan

    Progressing Towards Rule of 40 Ahead of Plan 43% 43% 37%-39% 33% 29% ~32% ~26% 11% Current expectations August 2023 plan 2019 2020 2021 2022 2023 2024

  22. Slide 22: Appendix

    Appendix Company Overview | First Quarter 2024 22. ~WIX

  23. Slide 23: Reconciliation of GAAP to Non-GAAP Financial Measures

    Reconciliation of GAAP to Non-GAAP Financial Measures 2022 2023 2024 FY FY FY Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2021 2022 2023 $341,597 $345,224 $345,805 $355,040 $374,076 $389,977 $393,841 $403,771 $419,776 $1,269,657 $1,387,666 $1,561,665 $37,552 $7,731 $6,023 $4,081 $60,975 $12,043 $387 $2,788 $41,319 $

  24. Slide 24: Reconciliation of GAAP to Non-GAAP Financial Measures

    Reconciliation of GAAP to Non-GAAP Financial Measures 2022 2023 2024 FY FY FY Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2021 2022 2023 $206,848 $210,367 $217,948 $226,276 $244,598 $262,083 $264,798 $277,658 $282,479 $781,078 $861,439 $1,049,137 $4,231 $4,555 $4,418 $4,607 $4,238 $3,479 $3,621 $3,675 $3,590 $15,462

  25. Slide 25: Reconciliation of GAAP to Non-GAAP Financial Measures

    Reconciliation of GAAP to Non-GAAP Financial Measures 2022 2023 2024 FY FY FY Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2021 2022 2023 $119,865 $121,618 $120,384 $120,994 $114,943 $115,490 $125,117 $125,743 $124,245 $424,937 $482,861 $481,293 $28,720 $29,919 $29,606 $32,335 $28,294 $28,778 $30,428 $31,982 $31,102

  26. Slide 26: Reconciliation of GAAP to Non-GAAP Financial Measures

    Reconciliation of GAAP to Non-GAAP Financial Measures FY FY FY FY FY in 000s 2019 2020 2021 2022 2023 Net cash provided (used) by operating activities $149,564 $148,049 $65,685 $37,152 $248,246 Capital expenditures, net ($22,066) ($18,853) ($37,700) ($70,664) ($66,049) Free Cash Flow $127,498 $129,1

  27. Slide 27: Reconciliation of GAAP to Non-GAAP Financial Measures

    Reconciliation of GAAP to Non-GAAP Financial Measures in millions Q1’10 Q1’11 Q1’12 Q1’13 Q1’14 Q1’15 Q1’16 Q1’17 Q1’18 Q1’19 Q1’20 Q1’21 Q1’22 Q1'23 Q1'24 Cumulative Cohort Revenue $40 $56 $67 $139 $190 $197 $228 $252 $259 $236 $210 $178 $101 $58 $9 Cumulative Cohort change in $1 $2 $3 $6 $9 $11 $1

  28. Slide 28: Partners and Transaction Revenue

    Partners and Transaction Revenue 2022 2023 2024 FY FY FY in 000s Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2021 2022 2023 Partners Revenue $81,996 $84,893 $86,696 $94,584 $103,862 $115,163 $119,382 $130,114 $138,428 $269,955 $348,169 $468,521 y/y growth 41% 31% 24% 23% 27% 36% 38% 38% 33% 75% 29% 35% 2-year CAGR 6

Wix.com — Q1 2024 Earnings Presentation on 6ix