Wix Announces Details for Upcoming Analyst & Investor Day and Second Quarter 2023 Earnings Release

Wix will release second quarter 2023 results on August 3, 2023

NEW YORK, July 18, 2023 /PRNewswire/ -- Wix.com Ltd. (Nasdaq: WIX), today announced that it will host a two-part virtual Analyst & Investor Day, consisting of prepared management presentations on Wednesday, August 9, 2023 and a live Q&A event on Thursday, August 10, 2023. Additionally, Wix will report its results for the second quarter ended June 30, 2023 on Thursday, August 3, 2023.

During the virtual Analyst & Investor Day, Wix's management team and other business leaders will present Wix's newest product releases, Wix's plans to further incorporate generative AI into its platform, an updated financial framework and commitment to achieving the Rule of 40 in 2025, and planned initiatives to enhance shareholder value.

Prepared video presentations along with accompanying materials will be available after market close on Wednesday, August 9 on https://investors.wix.com/.

The live Q&A event accessible through https://investors.wix.com/ will be held on Thursday, August 10 at 8:30 a.m. ET.  Wix management will answer both live and submitted questions. Upon viewing the prepared presentations, analysts and investors are encouraged to submit questions to [email protected].

Virtual Analyst & Investor Day Q&A Details:

Prior to the Analyst & Investor Day, Wix will report second quarter 2023 financial results on Thursday, August 3, 2023 at 8:30 a.m. ET. Management will host a conference call and webcast to answer questions about the Company's financial results. Before the conference call and webcast, Wix will issue a press release reporting these results, a shareholder update and additional materials at https://investors.wix.com/.

Earnings Call Details:

Live webcasts of the events, replays and accompanying materials will be available at https://investors.wix.com/.

About Wix.com Ltd.

Wix is a leading platform to create, manage and grow a digital presence. What began as a website builder in 2006 is now a complete platform providing users with enterprise-grade performance, security and a reliable infrastructure. Offering a wide range of commerce and business solutions, advanced SEO and marketing tools, Wix enables users to have full ownership of their brand, their data and their relationships with their customers. With a focus on continuous innovation and delivery of new features and products, anyone can build a powerful digital presence to fulfill their dreams on Wix.

For more about Wix, please visit our Press Room

Investor Relations:
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Forward-Looking Statements

This release 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 forward-looking statements may include projections regarding our future performance, including, but not limited to revenue, bookings and free cash flow, and may be identified by words like "anticipate," "assume," "believe," "aim," "forecast," "target" "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "outlook," "future," "will," "seek" and similar terms or phrases. The forward-looking statements contained in this release are based on management's current expectations, which are subject to uncertainty, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Important factors that could cause our actual results to differ materially from those indicated in the forward-looking statements include, among others, our expectation that we will be able to attract and retain registered users and generate new premium subscriptions, in particular as we continuously adjust our marketing strategy and as the macro-economic environment continues to be turbulent; our expectation that we will be able to increase the average revenue we derive per premium subscription, including through our partners; our expectations related to our ability to develop relevant and required products using Artificial Intelligence ("AI"), the regulatory environment impacting AI related activities including privacy and intellectual property aspects, and potential competition from third-party AI tools which may impact our business; our expectation that new products and developments, as well as third-party products we will offer in the future within our platform, will receive customer acceptance and satisfaction, including the growth in market adoption of our online commerce solutions; our assumption that historical user behavior can be extrapolated to predict future user behavior, in particular during the current turbulent macro-economic environment; our expectation regarding the successful impact of our previously announced Cost-Efficiency Plan and other cost saving measures we may take in the future; our prediction of the future revenues generated by our user cohorts and our ability to maintain and increase such revenue growth, as well as our ability to generate and maintain elevated levels of free cash flow and profitability; our expectation to maintain and enhance our brand and reputation; our expectation that we will effectively execute our initiatives to improve our user support function through our Customer Care team, and that the downsizing of our Customer Care team will not affect our ability to continue attracting registered users and increase user retention, user engagement and sales; our plans to successfully localize our products, including by making our product, support and communication channels available in additional languages and to expand our payment infrastructure to transact in additional local currencies and accept additional payment methods; our expectation regarding the impact of fluctuations in foreign currency exchange rates, interest rates, potential illiquidity of banking systems, and other recessionary trends on our business; our expectations relating to the repurchase of our ordinary shares and/or Convertible Notes pursuant to our repurchase program; our expectation that we will effectively manage our infrastructure; changes we expect may occur to technologies used in our solutions, including through newly emerging AI technologies; our expectations regarding the outcome of any regulatory investigation or litigation, including class actions; our expectations regarding future changes in our cost of revenues and our operating expenses on an absolute basis and as a percentage of our revenues, as well as our ability to achieve profitability; our expectations regarding changes in the global, national, regional or local economic, business, competitive, market, and regulatory landscape, including as a result of COVID-19 and as a result of the military invasion of Ukraine by Russia; our planned level of capital expenditures and our belief that our existing cash and cash from operations will be sufficient to fund our operations for at least the next 12 months and for the foreseeable future; our expectations with respect to the integration and performance of acquisitions; our ability to attract and retain qualified employees and key personnel; and our expectations about entering into new markets and attracting new customer demographics, including our ability to successfully attract new partners and large enterprise-level users and to grow our activities with these customer types as anticipated and other factors discussed under the heading "Risk Factors" in the Company's annual report on Form 20-F for the year ended December 31, 2022 filed with the Securities and Exchange Commission on March 30, 2023. The preceding list is not intended to be an exhaustive list of all of our forward-looking statements. Any forward-looking statement made by us in this press release speaks only as of the date hereof. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise.

SOURCE Wix.com Ltd.

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