Wix.com Ltd. (NASDAQ:WIX) Q4 2022 Earnings Conference Call February 22, 2023 8:30 AM ET

Company Participants

Emily Liu – Investor Relations

Avishai Abrahami – Chief Executive Officer and Co-Founder

Nir Zohar – President and Chief Operating Officer

Lior Shemesh – Chief Financial Officer

Conference Call Participants

Matthew Pfau – William Blair

Mark Mahaney – Evercore ISI

Elizabeth Porter – Morgan Stanley

Brad Erickson – RBC Capital Markets

Ygal Arounian – Citi

Andrew Boone – JMP Securities

John Byun – Jefferies

Ken Wong – Oppenheimer & Company

Trevor Young – Barclays

Deepak Mathivanan – Wolfe Research

Chris Zhang – Credit Suisse

Operator

Good day and thank you for standing by. Welcome to the Wix.com Conference Call. At this time all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today's conference is being recorded.

I would now like to hand the conference over to your speaker today, Emily Liu, Investor Relations Analyst. Emily, please go ahead.

Emily Liu

Thanks, Chris, and good morning, everyone. Welcome to Wix's fourth quarter and full year 2022 earnings call. Joining me today to discuss our results are Avishai Abrahami, CEO and Co-Founder; Nir Zohar, our President and COO; 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. In addition, we will comment on non-GAAP financial results and key operating metrics. You can find all reconciliations between our GAAP and non-GAAP results in the earnings materials and in our Interactive Analyst on the Investor Relations website – section of our website, investors.wix.com.

With that, I'll turn the call over to Avishai.

Avishai Abrahami

Thanks, Emily, and good morning, everyone. 2022 certainly was a challenging year, but I'm happy to say that we finished on a strong note and we are entering 2023, a more efficient company with a clear path to increasing profitability. Our Q4 results illustrated our ability to respond to the changing environment. We generated $52 million in free cash flow in Q4, our highest quarter ever and ahead of our guidance. Revenue in Q4 grew to $355 million, also ahead of our guidance. Our increased focus on finding efficiency closely managing cost growth allowed us to drive considerable operating leverage during the quarter. We will maintain this focus for the coming years and I believe it will enable us to emerge from this time as an even stronger company.