Wix.com Ltd.

Good morning and thank you for standing by. Welcome to the WIC's second quarter 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, please press star 1-1 on your telephone. You will then hear an automated message advising that your hand is raised. To withdraw your question, please press star 1-1 again. Please be advised that today's conference call is being recorded. I would now like to hand the conference over to your first speaker today, Emily Liu, Investor Relations. Please go ahead.

Thanks, and good morning, everyone. Welcome to WIX's second quarter 2026 earnings call. Joining me today to discuss our results are Avishai Abrahami, CEO and co-founder, Nir Zohar, President and co-founder, 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 20-F 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 except as required by law. 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 Avishai.

Thanks, Emily. As I mentioned in our shareholder letter, Our strategy is centered on deepening our ownership of the technology stack behind our AI products while expanding Wix's role across the AI ecosystem and throughout the entire user journey from ideation online to fully operational businesses and deployed software. We're pursuing this through two distinct purpose-built paths rather than betting on a single outcome for how AI reshapes online creation. Wix Harmony continues to serve self-creators through visual Drag-and-drop creation paired with AI. Base44 serves a different and fast-growing motion. Natural language, vibe-coded app, and software creation. Running both in parallel means we capture demand wherever the market evolves. We achieved a significant product milestone this quarter in support of this strategic priority with the introduction of Base1, the first platform in its category to launch a proprietary LLM. Building this model in-house was a deliberate choice. It gives us tighter control over quality, faster iteration cycles, and a better long-term cost structure. It also means every interaction on the platform continues to compound into a proprietary data asset, one that keeps improving base one rather than benefiting an external vendor's model. On the economics, base one is also driving tangible margin improvement for base 44. As we shift more inference to our own model and continue cost optimization work, We see AI-related costs fall across free and paid users, improving the base 44 gross margin from roughly 0% when we started the year to approximately 60% in the second half of the year. This trajectory reflects a business moving past early-stage hyper-growth economics toward a more sustainable, margin-healthy model with further room to improve. Base 1 also demonstrates what is possible when bringing together Wix's 20 years of The same data science organization that led the development of the Wix Harmony LLM, our first purpose-built AI model introduced earlier this year, was able to support the Base44 team directly with existing research, infrastructure, and experimentation capabilities achieved over years of AI development. This team, which I work closely with, played an invaluable role in the creation of Base One and was a major reason we were able to bring our model into production so quickly. With continued demand strength and now more control over the technology stack powering the platform, we are doubling down on a strategy that has already proven successful. The vision behind Wix Harmony is focused on building AI and human collaboration This reflects a broader principle behind everything we build. As the market, the technology and user expectations keep shifting, our focus is to continuously evolve our platform to the needs of our users. We've continued to make significant advancements in Wix Harmony as part of this ongoing commitment. Our focus now is execution. Leaning into opposition of strength to create products that generate real value for users and durable growth for Wix. With that, I'll turn it over to Nir.