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Earnings/results
WIX Q1 2024 update: Steady revenue growth, new product launches, and partnerships
No-code Software
May 20, 2024
This week:
Funding
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Smart Factory
Yesterday
Funding
Vecna Robotics raises USD 100 million in Series C funding; appoints new COO
Logistics Tech
Yesterday
Funding
Vecna Robotics raises USD 100 million in Series C funding; appoints new COO
Smart Factory
Yesterday
Funding
FairNow raises USD 3.5 million to advance AI governance solutions
Generative AI Infrastructure
Yesterday
Partnerships
Gravitics develops testing gauntlet for larger spacecraft in collaboration with NASA
Space Travel and Exploration Tech
Yesterday
M&A
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Telehealth
Yesterday
Funding
Pomelo Care raises USD 46 million in Series B funding to expand virtual maternal care
Telehealth
Yesterday
Funding
Isar Aerospace raises EUR 65 million, backed by NATO Innovation Fund
Space Travel and Exploration Tech
Yesterday
Product updates
Beyond Meat releases new Beyond Sausage, expanding its Beyond IV product line
Plant-based Meat
Yesterday
Product updates
Funding
SurrealDB raises USD 20 million in Series A; launches beta version of Surreal Cloud
Data Infrastructure & Analytics
Yesterday
No-code Software

No-code Software

May 20, 2024

WIX Q1 2024 update: Steady revenue growth, new product launches, and partnerships

Earnings/results

  • In Q1 2024, Wix reported a quarterly revenue of USD 419.8 million, a 12% increase over the previous year. Moreover, Wix reported a total non-GAAP operating income of USD 24 million, compared to a loss of USD 10.4 million in Q1 of FY2023.

  • During the quarter, Wix announced the launch of three new AI-powered image enhancement tools: AI Image Creator, the Object Eraser, and the AI Image Editor to help users create and customize visual content for their websites.

  • Additionally, the company launched an AI Portfolio Creator, which enables users to create online professional portfolios using natural language prompts. The solution leverages AI image clustering technology to generate project options with clustered images, suggested titles, and descriptions, and customizable layout options.

  • Wix also partnered with Global-e Online, a direct-to-consumer ecommerce platform, to offer its merchants access to the latter’s suite of cross-border selling solutions. These include tools for localized checkout, tax calculation and prepayment, local market insights, and multi-currency support.

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