Wix Reports 15% Bookings Growth to $585M and $1.6B Share Buyback
Q1 bookings rose 15% to $585 million and revenue climbed 14% to $541 million, with new user cohort bookings surging 46% year-over-year. The company achieved $1.903 billion in ARR, launched its proprietary AI-powered Harmony model and repurchased 30% of shares via a $1.6 billion tender offer.
1. Q1 Financial Performance
Wix delivered first-quarter revenue of $541.2 million, up 14% year-over-year, and bookings of $585 million, up 15%. Total ARR reached $1.903 billion, driven by 13% growth in Creative Subscriptions and 17% growth in Business Solutions segments.
2. Proprietary AI Model Launch
The company migrated Wix Harmony to its own large language model, enabling faster AI inference and cost control. New AI features include Superagents, a native assistant, and a Figma-to-Base44 integration to streamline design workflows.
3. Share Repurchase Program
In early April, Wix repurchased approximately 17.5 million shares at $92 each, totaling $1.6 billion. This modified Dutch auction tender offer reduced outstanding share count by roughly 30%, enhancing shareholder value.
4. Outlook and Guidance
Management reiterated full-year 2026 targets and provided second-quarter guidance, expecting stable non-GAAP gross margins near 66% and continued investment in AI innovations while controlling costs.