WIX - This Website Maker Is Finally Profitable. Is It Time to Add More Shares?
2023-08-24 08:44:00 ET
Drag-and-drop website building platform Wix.com (NASDAQ: WIX) has reported a GAAP operating loss every single quarter since coming public in 2013. This quarter, that changed. For the first time in its public history, Wix reported $13 million of positive operating income during its recent second-quarter financial report. Let's see what this shift in profits means for investors.
Before jumping into what's changed with the financials, it's probably best to take a look at the actual underlying business improvement going on at Wix.
Wix.com is a website-building company that's grown over the last decade, thanks primarily to the success of its do-it-yourself (DIY) platform. With its intuitive website-making software, any person or business can quickly and easily establish the internet presence they desire without needing to know how to code. Today, despite seeing slower growth coming out of the pandemic, Wix's revenue from this self-creator segment still makes up the majority of the top line at more than 60% of its subscription revenue.
For further details see:
This Website Maker Is Finally Profitable. Is It Time to Add More Shares?