Q1 2026 Wix.Com Ltd Earnings Call Transcript
Key Points
- Wix.com Ltd (WIX) achieved a significant milestone by deploying its first proprietary LLM, which is faster and more efficient than alternatives, enhancing the Harmony platform.
- The company reported a 46% increase in bookings from the new Q1 2026 user cohort compared to the previous year, indicating strong demand for its offerings.
- BASE44, acquired by Wix.com Ltd (WIX), achieved $150 million in ARR by mid-May, demonstrating robust growth and market leadership in North America.
- Wix.com Ltd (WIX) successfully completed a $1.6 billion share repurchase program, returning significant value to shareholders.
- The company is leveraging AI to optimize internal processes, such as reducing customer care headcount by over 40% while maintaining service quality.
- Wix.com Ltd (WIX) experienced slower-than-expected growth in its partners' business due to a deliberate pullback in marketing efforts.
- The ongoing conflict in the Middle East has impacted productivity, delaying product timelines for the partners' audience.
- The company faces elevated AI compute costs as it scales BASE44 to meet demand, impacting gross margins.
- Wix.com Ltd (WIX) is dealing with a $64 million FX headwind due to the strengthening of the Israeli shekel against the US dollar.
- The company is now in a net debt position following the completion of its share repurchase program, impacting its cash flow outlook.
Good day, and thank you for standing by. Welcome to the Wix's first quarter 2026 earnings conference call. (Operator Instructions) Please note that today's conference is being recorded.
I will now hand the conference over to your speaker host for today, Emily Liu, Head of Investor Relations. Please go ahead.
Thanks, and good morning, everyone. Welcome to Wix's first quarter 2026 earnings call. Joining me today to discuss our results, Nir Zohar, President and Co-Founder; and Lior Shemesh, our CFO.
During this call, we may make forward-looking statements, and these statements are based on current expectations and assumptions. Please consider the risk factors included in our press release and most recent Form 20-F that could cause our actual results to differ materially from these forward-looking statements. We do not undertake any obligation to update these forward-looking statements, except as required by law.
In addition, we will comment on non-GAAP financial results and key
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