Wix.com Ltd.

Good day and thank you for standing by. Welcome to the WICS Q3 2023 conference call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you will need to press star 1 1 on your telephone. You will then hear an automated message advising you your hand is raised. To withdraw your question, please press star 1 1 again. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your first speaker today, Emily Liu with Investor Relations. Emily, please go ahead.

Thanks, Stacey, and good morning, everyone. Welcome to Wix's third quarter 2023 call. Joining me today to discuss our results are Avishai Abrahami, our CEO and co-founder. Mir Zohar, our president and COO, and Lior Shemesh, our CFO. During the 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 reconciliations between our GAAP and non-GAAP results in the earnings materials and in our interactive analyst center on the investor relations section of our website, investors.wix.com. With that, I'll turn the call over to Abhishek.

Thanks, Emily, and good morning, everyone. We delivered... a tremendous third quarter that exceeds both growth and profitability expectation for another consecutive quarter. Revenue in Q3 grew to $394 million, which is $3 million above the high end of our guidance. We generated more than $62 million of free cash flow, or 16% of revenues, ahead of our expectations. As a result of our outperformance even today we are again raising revenue and free cash flow guidance for the year. And we now expect to finish 2023 ahead of the margin target set at our analyst day in August. As we begin to wrap up an outstanding year, I want to spend most of my time today talking about products that we expect will be our primary growth engine going into 2024 and the years to come. WIC Studio and AI. Like prior quarters, our partners' business was a meaningful driver of our strong top-line performance in Q3, drawing 38% year-over-year. We continue to find success with professionals through ongoing dialogue to better understand their needs and best-in-class product innovation that resonates with the community. As we spoke about at our Analyst Day in August, we took all that we have learned from partners over the years that created Wix Studio, a new cornerstone product for partners. The reception, feedback, and early KPIs have been incredible. The resounding consensus is that Studio provides agencies with everything they want and more for all of their web creation and project management needs. Users particularly love Studio responsive AI technology that simplifies high touch and time sensitive tasks such ensuring consistent design across web pages on different screen sizes. They are also enjoying their AI code assistant inside the new Wix IDE, which allows them to write cleaner code and detect errors easily. More importantly, Studio optimized partners' workflow and productivity while elevating their own client offerings, ultimately helping them scale their business. Features like workflow management, dashboard-enabled agencies to easily manage all of their clients, projects, and teams in one place. And client kits allow partners to provide seamless hand-off experience with built-in tutorials for their end clients, saving time and resources. We already have thousands of studio sites live and many active generating GPP. The total number of registered studio accounts and conversion of existing sites to Studio have exceeded our own expectations. All of this early sign of success could not have been possible without the team that traveled across 12 cities over two months to bring Studio to life for countless educational workshops, Q&A forums, and onboarding sessions. This tool gave us the opportunity to hear directly from hundreds of partners around the globe, and it allowed partners to learn from each other. WIC Studio is now fully live to all partners. We have a strong team that continues to execute well and a growing community of professionals excited about WIX. These factors are what give me confidence in the long period of growth in this business. We did not let off the gas in terms of product innovation as we continue to add our own industry-leading AI and GenAI product offering. As we spoke about at an analyst's We have nearly a decade of working with AI and machine learning to reduce friction and enable better creation by leveraging AI for co-creation for our users. Earlier this week, we released our latest AI products. The first was AI MetaTag Creator, a groundbreaking SEO tool powered by AI, and our first AI powerful feature within our collection of SEO tools. Safe creators looking to generate SEO-friendly tags for each of their pages and professionals looking to enhance their efficiency and make real-time adjustments will benefit from this product. The second was our conventional AI chat experience for businesses. This feature, which is now live, paves the way to accelerate onboarding using AI in order to get businesses online more quickly and efficiently. These new tools continue to demonstrate our leadership in utilizing AI to help users of all types to succeed online. It has been a busy year at Wix, filled with many product and financial milestones, but we are not done yet. We expect to continue this strong momentum into the fourth quarter and accelerate profitable growth even further. Finally, before I turn it over to Neil, I'd like to end with a quick thought. The terrorist attack in Israel a month ago was terrible beyond imagination. But we have navigated unprecedented challenges before and ultimately emerged stronger from them. This war is no different, even against the current backdrop. I am more confident than ever in the strength of our global team and the execution of our strategy and growth trajectory. With that, I will hand it over to Neil.