Israeli web building company Wix.com Ltd. (Nasdak: WixI reported) about positive results for the fourth and 2024 quarter of the entire year, with GAAP profit for the first time and a high profit that is generally accepted by analysts' expectations. However, the company provided cautious revenue instructions for 2025 due to the negative impact of the exchange rate, but WIX expects a 30 % increase in free cash flow throughout the year.
The price of the WIX share increased by more than 300 % since its low points in 2022 and is currently trading near its peak peak in 2021, although it is still less than the record price. After publishing the results of this morning, the company's share price is traded by 6.7 % on the Nasdaq Stock Exchange, giving the maximum market $ 11.5 billion.
“In the face of great difficulties, in a company where two -thirds of the workforce in the war areas – Ukraine and Israel – we are very happy with our achievements on the work aspect in 2024. This was a record year in several ways, in terms of continuous growth And in terms of acceleration in the growth we saw during the year, which also translates into expectations for 2025. “
The company, which is run by the CEO of Avishai Abrahami, recorded $ 1.76 billion in 2024, an increase of 12.7 % from 2023, including $ 460 million in the fourth quarter, an increase of 14 % over the corresponding quarter of 2023. A loss of 24.4 million Dollar in 2023. The net profit of the principles of accounting generally reached 138 million dollars – four Times of 2023. The total net profit other than the principles of accounting generally accepted in 2023 was $ 383 million (including $ 117 million in the fourth quarter), or profits per share $ 6.39.
“Profitability will continue to grow in 2025.”
Zohar told reporters that Wix entered “base 40 in 2024 and will enter the base of 45 in 2025.” The principle that the company's joint growth rate and profit margin must exceed 45 %. He added: “profitability will continue to grow in terms of percentage and absolute numbers in 2025. We expect an acceleration in the rate of revenue growth, despite somewhat difficult currency data for us. We are in a very healthy place like the company, and we must remember that this is possible Because of the improvements in our 2025 products, we will issue two important products to our second largest sector, those who build web sites for themselves, We believe that this will help accelerate the growth in this part of the work. “With regard to reaching the operational profitability on the basis of the principles of accounting in general, Zohar said:” This is good news for Israel, that we will start paying taxes, in addition to our inaccurate contribution to the tax level Income. “
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Zohar said: “Most of our adult shareholders are developed and they carry stocks in the long run, and discussions with them are not about the semester or even public level, but about long -term plans. I think it is very pleased with us. The latter. They have been beaten in recent years due to slowdown and instability in the global economy, and they have not yet tested a complete recovery.
It was published by Globes, Israel Business News – En.globes.co.il – on February 19, 2025.
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