Nov. 20 at 3:31 PM
$WIX
Bookings grew 16% year-over-year to
$515 million, marking the third consecutive quarter of accelerating growth
Revenue reached
$505 million, exceeding guidance
Achieved free cash flow margin of 29%, surpassing the "Rule of 40" for the first time since early 2021
Raised full-year 2024 bookings outlook to
$2.062-
$2.078 billion (13-14% YoY growth)
AI and Product Innovation:
AI-powered website builder adoption is strong, with over 50% of new users choosing this onboarding method
Wix Studio (professional platform) showed exceptional growth - 75% of new partner bookings came from Studio accounts
Partners revenue accelerated to 30% year-over-year growth
Strategic Success:
Successfully implemented price increases contributing to higher average revenue per user (ARPU)
Added nearly 5 million new users in Q3, the first quarterly growth since 2020
Benefiting from WordPress challenges as agencies increasingly move to Wix
