Wix.com Ltd. (NASDAQ:WIX) Q1 2022 Earnings Conference Call May 16, 2022 8:30 AM ET

Company Participants

Emily Liu - Investor Relations Analyst

Avishai Abrahami - Chief Executive Officer and Co-Founder

Nir Zohar - President & Chief Operating Officer

Lior Shemesh - Chief Financial Officer

Joe Pollaro - General Manager, U.S.

Conference Call Participants

Elizabeth Porter - Morgan Stanley

Ron Josey - Citigroup

Ygal Arounian - Wedbush Securities

Trevor Young - Barclays

Matthew Pfau - William Blair

Naved Khan - Truist Securities

Andrew Boone - JMP Securities

Operator

Good day. Thank you for standing by, and welcome to the Wix First Quarter 2022 Earnings 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, today's conference is being recorded. [Operator Instructions]

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

Emily Liu

Thanks, Michelle, and good morning, everyone. Welcome to Wix's first quarter 2022 earnings call. Joining me today to discuss the results are Avishai Abrahami, CEO and Co-Founder; Nir Zohar, our President and COO; Lior Shemesh, our CFO; and Joe Pollaro, our GM of the U.S.

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 Center on the Investor Relations section of our website, investors.wix.com.

Now I'm going to turn the call to Joe, who will be moderating the Q&A with the team. Joe?

Joe Pollaro

Thanks, Emily. So Avishai, you opened the shareholder letter this quarter with why you believe the Internet will continue to grow. Can you explain a little bit more about your conviction around this growth?

Avishai Abrahami

Yes, Joe. Thank you. I think it's based on a few things. First of all, I want to -- if you look right in the United States, in Q1, the GDP actually went down, right, while the Internet has still grown. We've grown at around 14%, and we see that most of our peers have also grown, right? So that’s showing that the Internet is still growing and probably when the GDP growth will go back to normal, towards 1% or a bit more than that, they're probably going to see another acceleration in the Internet.