A cloud-based platform that lets anyone build and manage a website without writing code, using a simple drag-and-drop editor plus tools for online stores, booking, and marketing. It was founded in 2006 in Tel Aviv by three developers—brothers Avishai and Nadav Abrahami and Giora Kaplan—who were frustrated building their own site and dreamed up a way to make it easy for everyone. The name came from a beachside brainstorming session: the founders wanted it to start with "W," a nod to the World Wide Web, and to be short and memorable.
20-F · Fiscal year ended Dec 31, 2025 · SEC filing ↗
Wix reached GAAP profitability and eliminated all long-term debt in 2024, while free cash flow nearly tripled to $478.1M.
Wix delivered its first full year of profitability and paid off every dollar of . rose 13% to $1.76 billion and reached $478.1 million, driven by a 21% increase in Business Solutions and higher Creative Subscriptions . The company enters 2025 debt-free with $660.9 million in cash and a business that is now self-funding.
Key takeaways
reached $138.3 million, up from $33.1 million in 2023, marking the company's first full year of profitability on that basis.
rose to $478.1 million from $182.2 million, driven by a $249.2 million increase in to $497.4 million.
Business Solutions grew 21% to $495.7 million, fueled by greater adoption of Google Workspace and growth in Payments by Wix transaction volume.
Section summaries
Quantitative and Qualitative Disclosures About Market Risk
Main market risks are NIS and multi-currency revenue exposure, hedged partially with forwards/options; a 10% NIS rise would cut net income ~$53.4M.
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About 35% of 2025 revenues were in non-USD currencies (EUR, GBP, JPY, MXN, CAD, AUD, BRL) and ~27% of costs were in NIS, creating FX mismatch.
A 10% appreciation of the NIS vs. USD would have reduced 2025 by ~$53.4M; a 10% concurrent devaluation of the other major currencies would have reduced net income by ~$64.6M.
Creative Subscriptions increased 13% to $1.34 billion, supported by price increases, quality user onboarding, and the new Wix Studio product for professionals.
Total premium subscriptions declined 1% to 6.18 million, reflecting from an early-2024 price increase and the normalization of a large 2023 partner migration.
The company eliminated all , repaying the remaining $569.7 million in , and held $660.9 million in cash and equivalents at year-end.
What changed
The $575M in due 2025 flagged in 2023 were fully repaid in 2024, eliminating all and removing the refinancing risk.
Wix Studio, launched in August 2023, contributed to a 13% increase in Creative Subscriptions , confirming its role in driving higher-value subscriptions.
Business Solutions growth accelerated to 21% from 18% in 2023, confirming the as a material and accelerating driver of .
The Cost-Efficiency Plan flagged in 2022 delivered: swung to positive 5.7% from -1.6% in 2023, and reached $478.1M.
What to watch
Whether premium subscriptions return to growth after the 1% decline in 2024, or if the mix shift toward higher-ARPU users sustains growth without subscriber count increases.
The trajectory of now that the company has reached profitability and carries no debt, with selling and marketing spend already rising 6% in 2024.
The impact of the Israel-Hamas conflict on R&D productivity and costs, given 2,428 employees and contractors in R&D and ongoing military reserve duty.
How the company deploys its $660.9 million cash position after repaying all , particularly whether it initiates share buybacks or pursues acquisitions.
The company hedges forecasted NIS expenses (payroll, suppliers, HQ lease) and a portion of EUR/GBP revenues using with tenors of 1–12 months.
Translation risk arises on non-USD monetary assets/liabilities; at year-end 2025, $402.6M of cash, restricted deposits, and marketable securities were held in non-USD currencies.
The company states it has no material interest rate risk (no long-term borrowings) and no material exposure to inflationary risks.
Key risks include AI technology challenges, geopolitical instability in Israel/Ukraine, cybersecurity threats, and dependence on premium subscription growth.
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The company faces significant risks from developing and deploying AI Technologies, including potential inaccuracies, intellectual property infringement, and uncertain market acceptance, particularly for new offerings like the Base44 'vibe-coding' platform.
Geopolitical conflicts, specifically the war in Ukraine and hostilities involving Israel, materially threaten operations by disrupting personnel, infrastructure, and the global economy, while also increasing cyberattack risks.
Failure to attract and retain premium subscriptions or partners, or to successfully monetize new pricing models like 'AI credits', could directly harm the primary stream.
Cybersecurity incidents and non-compliance with evolving global data privacy laws (like GDPR and CCPA) pose a constant threat of reputational damage, significant fines, and litigation.
The company's substantial liquid assets and investment portfolio are exposed to market volatility, interest rate changes, and potential instability in the financial services industry.
Intense competition, especially from companies integrating AI more effectively, and the need to continuously innovate to serve diverse user segments like partners and enterprises, are critical market risks.
Wix is a global cloud-based web development platform offering AI-powered website building, commerce, and business solutions to millions of users through a freemium SaaS model.
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The platform serves approximately 304.2 million registered users and 6.1 million premium subscriptions as of December 31, 2025, with products ranging from the new AI flagship builder Wix Harmony to the professional agency platform Wix Studio.
Wix generates through premium subscriptions and additional paid services including Payments by Wix, email marketing, and commerce solutions tailored to verticals like retail, restaurants, and fitness.
The company is heavily investing in AI, integrating proprietary and third-party models across its platform for site generation, marketing, and business operations, and acquired AI startups Base44 and Hour One in 2025.
User acquisition relies primarily on organic traffic and brand strength, with marketing expenditures of $243.6 million in 2025, while retention is driven by converting free users to annual or multi-year subscriptions (83% of premium subs).
Wix competes against a fragmented field of DIY website builders, e-commerce platforms, and emerging AI coding tools, differentiating through an integrated suite combining design, commerce, and business management.
The company is subject to evolving global regulations on data privacy (GDPR), content moderation (EU DSA), and artificial intelligence (EU AI Act), which may increase compliance costs and impact operations.
Total revenue grew 13% to $1.99B in 2025, driven by 11% Creative Subscriptions growth and 18% Business Solutions growth, while free cash flow reached $573M.
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Total increased 13% to $1.99 billion, with Creative Subscriptions Revenue up 11% to $1.41 billion and Business Solutions Revenue up 18% to $583.3 million.
Creative Subscriptions grew 13% to $1.52 billion, driven by higher average per premium subscription (ARPS) from higher-priced packages and a 2024 price increase, partially offset by macroeconomic pressure on GPV.
Total operating expenses rose 24% to $1.35 billion, primarily due to a $150.2 million increase in R&D (including Base44 acquisition costs) and an $88.8 million increase in Selling and Marketing (including Base44 user acquisition).
fell to $1.8 million from $100.1 million, while decreased to $50.6 million from $138.3 million, impacted by higher operating costs and a swing to net financial expenses of $5.0 million.
increased 20% to $573.0 million, exceeding the Three-Year Plan target of ~$500 million, and the company achieved the 'Rule of 40' a year earlier than anticipated.
The company issued $1.15 billion in 0.00% Convertible Senior Notes due 2030 and, after year-end, entered into a $500 million and a $260 million private placement, while commencing a $1.75 billion tender offer.