Wix.com Ltd.

Good day and thank you for standing by. Welcome to the WIC's fourth quarter and full year earnings 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 need to press star 1-1 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press star 1-1 again. Please be advised, today's conference is being recorded. I would now like to end the conference over to your speaker. Bye. Today's conference is being recorded. I would now like to end the conference over to your speaker today. Emily Liu, please go ahead.

Thanks, and good morning, everyone. Welcome to WIX's fourth quarter and full year 2024 earnings call. Joining me today to discuss our results are Abhishek Abrahami, CEO and co-founder, Nir Zohar, our president and COO, and Lior Shemesh, or 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 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. 2024 was a fantastic year for Wix, marked by substantial growth and continued innovation that reaffirms our leadership position in the web creation space. We exceeded our plan quarter after quarter, showcasing our strong execution and deep commitment to users. In 2022, we set out an ambitious plan to achieve Rule of 40 by 2025. I am excited to announce that not only have we now achieved the rule of 40 milestone, but the tremendous commitment and execution of our team allowed us to reach this target a full year ahead of our goal. Now, naturally, we're not going to just stop there. We're continuing to aim even higher in 2025 with new goals and targets. Impressively, we are now setting up to achieve the rule of 45 in 2025, which Leo will discuss in a few minutes. As we reflect on the past year, it's clear that our key product initiatives are yielding great results, We exited 2024 with Booking's growth of 18% year-over-year, fueled by acceleration in our self-creator's business and strong sustained partner's momentum. Partner's revenue grew a lofty 30% year-over-year. This growth reflects our continued success in winning share of the professional market, particularly among agencies, as well as the ramping adoption and strong enthusiasm for our studio platforms. We now have over 2 million studio accounts that represent a vibrant community of creative professionals with over 75% of these accounts created by partners new to Wix. Feedback has been positive and engagement remains high, which are testaments to the value we are providing with our differentiated platform. Additionally, our self-created business saw steady revenue growth acceleration through 2024, driven by growing tailwinds from our AI product suite. We introduced a number of new creation, marketing, and design AI tools last year. Notably, we also rolled out our AI website builder, our new generation AI site builder. This is the evolution of Wix Artificial Design Intelligence, or ADI, which was our first AI-powered website creation tool introduced in 2016. The new AI website builder is the linchpin in our suite of AI products and is revolutionizing web creations. Available to all users today, over 1 million sites have been created and published with the Website Builder. As I discussed last quarter, the AI Website Builder continues to drive demonstrably stronger conversion and purchase behavior as well. Looking ahead, I'm excited about the product roadmap for 2025. Our 2023 launch of Studio was a major landmark in our product strategy. With incredible reception and strong adoption, Studio has revolutionized web creation for professionals and has proven to be a key growth driver for our partners' business. This year, we're channeling that same enthusiasm and focus to reimagine the self-creator experience. We have two major products that I believe will change how self-creators build and grow online. The first will be a new solution that expands powerful design capabilities beyond just websites. We expect this to launch around spring. The second will be a transformative new way for self-creators to build their presence on the internet. This is planned for launch in the early fall. I strongly believe that these two products will drive tremendous value for self-creators and accelerate growth in this business to double digits. On the other hand, we also have a number of exciting new products and features planned for partners this year. We remain dedicated to evolving the Studio platform into the go-to canvas for professionals where creativity meets functionality. We will introduce new advanced design tools that will enable professionals to push limits and achieve spectacular and powerful results efficiently, ultimately driving further market share gains. This means that by the end of 2025, we will have an unmatched offering with two clearly differentiated and best-in-class products for self-creators and partners. Finally, AI remains a major part of our product roadmap. In December, we introduced our first monetized AI product, the AI Sight Chat. This tool provides a 24-7 AI-powered chat between businesses and their customers, answering questions and directing customers to relevant products and services. In 2025, our focus is on AI assistants and agents. We've recently started to test our AI assistant in the Wix Business Manager, which adds a seamless chat interface to the dashboard. This chat guides users and helps to execute tasks such as creating bookings, purchasing domain names, and much more, all from a single entry point. We are also currently in the early rollout phase of our specialized AI marketing agent. The marketing agent analyzes user website data to generate tailored marketing plans, complete with actionable recommendations, content schedules, and SEO insights, helping users enhance online visibility and reach target audiences. We continue to test monetization opportunities as adoption and usage ramps. As we close out the year, I want to reiterate our commitment to continually enhance our platform and make online creation management and growth effortless and impactful for all our users. Thank you for your ongoing trust and support. With that, Nir, over to you.