Wix.com Ltd. (NASDAQ:WIX) Q4 2023 Earnings Conference Call February 21, 2024 8:30 AM ET

Company Participants

Emily Liu - IR

Avishai Abrahami - CEO and Co-Founder

Nir Zohar - President and COO

Lior Shemesh - CFO

Conference Call Participants

Elizabeth Porter - Morgan Stanley

Ygal Arounian - Citi

Mark Mahaney - Evercore ISI

Trevor Young - Barclays

Operator

Good day, and thank you for standing by. Welcome to the Wix Q4 2023 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speaker's 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, Emily Liu, Investor Relations. Please go ahead.

Emily Liu

Thanks, and good morning, everyone. Welcome to Wix's fourth quarter and full year 2023 earnings call. Joining me today to discuss the 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 Center on the Investor Relations 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.

2023 was a milestone year for Wix. We maintained a leadership position as the go-to web creation platform, for any user and any business, grew market share for the best-in-class innovation, executed successfully on key initiatives, and achieved strong growth with record profitability. The incredible progress we made this year, positioned us to accelerate growth in 2024.

And we now expect to exceed the targets applying in the three years plan we provided at the August Analyst Day. Lior will work through the details, around our updated expectation in a few minutes. For me, 2023 will be remembered as the year of a pivotal advance in our product suite. We started off the year labeled by others as a company facing potential AI disruption.