Wix.com Ltd. (NASDAQ:WIX) Q3 2024 Earnings Conference Call November 20, 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

Trevor Young - Barclays
Ygal Arounian - Citigroup
Andrew Boone - JMP Securities
Ken Wong - Oppenheimer & Company
Elizabeth Porter - Morgan Stanley
Bernie McTernan - Needham & Company
Robert Coolbrith - Evercore ISI
Clarke Jeffries - Piper Sandler

Operator

Good day and thank you for standing by. Welcome to the Wix Q3 2024 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 that today's conference is being recorded.

I would now like to hand the conference over to Emily Liu, Head of Investor Relations. Please go ahead.

Emily Liu

Thanks. And good morning, everyone. Welcome to Wix's third quarter 2024 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 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.

We are happy to report another consecutive quarter of accelerating growth. Through focused execution of our key strategic initiatives and improved business fundamentals, we were able to deliver impressive year-over-year bookings growth of 16% in the third quarter. The success we've achieved this year is underpinned by our best-in-class innovation, particularly our AI-powered solutions and Wix Studio.

Almost one year ago, we launched our AI Website Builder, which is now available in 20 languages and has been a game-changer in our user onboarding strategy. Today, more than 50% of new users are choosing to create their online presence through our AI-powered onboarding process.