Wix Q4 Bookings Rise 15% to $535M as Base44 ARR Tops $100M
Wix.com reported Q4 bookings of $535 million, up 15% year-over-year, and 2025 revenue of $524 million, up 14%, while non-GAAP operating income reached 15% of revenue. Base44 hit approximately $100 million in ARR about a year after acquisition, contributing to consolidated ARR of $1.836 billion and underpinning mid-teens growth guidance for 2026.
1. Q4 Financial Results
Wix reported Q4 2025 bookings of $535 million, a 15% increase year-over-year, and revenue of $524 million, up 14%. Non-GAAP operating income reached 15% of revenue, adjusted gross margin was 68%, and gross payment volume grew 11% to $3.7 billion, while free cash flow totaled $156 million (30% of revenue).
2. Base44 Momentum and AI Investments
The acquired Base44 platform reached roughly $100 million in ARR about one year post-acquisition, exceeding initial expectations by $59 million. Adoption has been entirely self-serve across CRM, ERP, workflow automation and enterprise use cases, with AI compute costs front-loaded during onboarding and expected margin improvement through caching and model optimization in 2026.
3. Outlook and Capital Allocation
For full-year 2025, Wix generated $605 million of free cash flow (30% of revenue) excluding acquisition costs. Management plans to complete a $2 billion share repurchase program during 2026, deploy a $250 million equity investment, and guide to mid-teens bookings and revenue growth with a 20%+ free cash flow margin for the year.