Wix.com Ltd.

Ladies and gentlemen, thank you for standing by, and welcome to the WIC's Q1 2021 Earnings Conference Call. At this time, all participant lines are in a listen-only mode. After the speaker's remarks, there will be a question-and-answer session. To ask a question during the session, you will need to press star 1 on your telephone. Please be advised that today's conference is being recorded. If you require any further assistance, please press star 0. I would now like to hand the conference over to your speaker today, Maggie O'Donnell, Director of Investor Relations. Thank you. Please go ahead.

Thank you, Cindy. Good morning, everyone, and welcome to WIX's first quarter 2021 earnings call. Joining me today to discuss our results are Avishai Abrahami, our CEO and co-founder, Nir Zohar, our President and COO, and Lior Shemesh, our CFO. During this call, we may make forward-looking statements, and these statements are based on current expectations and assumptions. Please consider the risk factors included in our press release and most recent Form 20F that could cause our actual results to differ materially from these forward-looking statements. We do not undertake any obligation to update these forward-looking statements. In addition, we will comment on non-GAAP financial results and key operating metrics. You can find all reconciliation between our GAAP and non-GAAP results in the earnings materials and our interactive analyst center on the investor relations section of our website, investors.wix.com. With that, I will now turn the call over to Abhishek.

Hi, and thank you for joining us today. I'm sure you all heard the situation here in the last 24 hours, and I want to report that everybody in WIX is safe at this moment, and and nobody got hurt. Obviously, in this country, we are all very well aware and have the knowledge of how to keep ourselves safe, and so we do that, and we know how to work in those situations, so I don't see any or predict any disruption to our business because of the situation, wishing everybody that we'd actually be resolved as quickly and as safely as possible. I want to say that in WICs, we have Jewish, Muslims, Israelis, Palestinians, all working together to deliver a product. And we think that this is the best way to create peace, by working together to do amazing things. And going back to business, I want to mention something else. About a year ago, we were asked, how will weeks do after coronavirus has passed? And we are starting to be at the end of that. And we predicted that we think we're actually going to grow faster at the end of the period of coronavirus. And today we can say that we've probably been correct. You see that the numbers actually show that we're actually growing faster. And a lot of it is due to the diversified nature of our business. We don't just serve one specific segment that is all about online. We actually serve many different things from restaurants to events to restaurants and fitness centers. And as the offline world is coming back, we also grow faster. Another factor, I think, is that the more time, as time passes, we can continue to learn about the advantages of a SaaS model compared to a bunch of hosting companies coming together, open source software where you don't have any way to maintain it, you need to spend a lot of energy just to have it running. And, of course, security risk and very hard to modify. So this old model, I think, compared with our new model, I think the gaps are growing and the knowledge of how much more value you get with it is also spreading. And I think all of that is contributing to our continuous growth. I'm very excited about 2021 and, again, wishing everybody to keep safe. And with that, let's go to your questions.