Reports Q4 revenue $355.04M, consensus $351.98M. "In the face of a dynamic macroeconomic environment this year, we shifted our focus toward tightening spending and becoming more efficient in the execution of our priorities. Through all of this, we continued to lead through innovation. We released hundreds of new products and features throughout 2022 to improve our platform for self creators and partners. Among the most notable releases this year were Wix Blocks for developers, our new Wix Editor, Wix Portfolio and our new AI Text Creator," said Avishai Abrahami, Wix Co-founder and CEO. "We enter 2023 with great confidence that we are creating a best-in-class platform that will bring forth innovation and create lasting value for our users and shareholders. The actions and strategies implemented this past year position us well to weather this uncertain period, emerge a stronger and more profitable software company, and achieve ‘Rule of 40’ in 2025. While internet growth is currently reverting back to the pre-pandemic trendline, we believe there are still many years of significant expansion ahead. The potential for Wix in 2023 and beyond is enormous, and I am excited about what is to come."
Published first on TheFly
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