Wix Announces Board Authorization of $200 Million Share Repurchase Program
27 2월 2025 - 11:00PM
NEW YORK --Wix.com
Ltd. (NASDAQ: WIX) ("Wix," the
"Company," "we" or "our"), today announced that its Board of
Directors (the "Board") authorized a program to repurchase the
Company's securities (ordinary shares and/or convertible notes) in
an amount up to $200 million.
This repurchase program demonstrates the Board's continued
confidence in the Company's ability to drive strong cash flow
generation and ongoing commitment to increasing shareholder
value.
Under the Board authorized repurchase program, Company
securities may be repurchased from time to time using a variety of
methods, which may include open market purchases, privately
negotiated transactions or otherwise, all in accordance with U.S.
securities laws and regulations, including Rule 10b-18 under the
U.S. Securities Exchange Act of 1934, as amended (the
"Exchange Act"). The Company may also, from
time to time, enter into plans that are compliant with Rule 10b5-1
of the Exchange Act to facilitate repurchases of its securities
under this authorization. The repurchase program does not
obligate the Company to acquire any particular amount of
securities, and the repurchase program may be suspended or
discontinued at any time at the Company's discretion.
Repurchases under the repurchase program may begin after conclusion
of the 30-day period for creditors of the Company to object to the
Company's intent to perform the distribution by way of repurchase
in accordance with the Israeli Companies Regulations (Relief for
Public Companies Whose Securities are Traded on Stock Exchanges
Outside of Israel), 5760-2000 and the Israeli Regulations (Approval
of Distribution), 5761–2001. The actual timing, number and
value of securities repurchased depend on a number of factors,
including the market price of the Company's ordinary shares,
general market and economic conditions, any objections received by
the Company from its creditors, the Company's financial results and
liquidity, and other considerations. The Company expects to
fund repurchases with cash on hand and future cash generated from
its operations.
About Wix.com Ltd.
Wix is the leading SaaS website builder platform1 to create,
manage and grow a digital presence. Founded in 2006, Wix is a
comprehensive platform providing users - self-creators, agencies,
enterprises, and more - with industry-leading performance,
security, AI capabilities and a reliable infrastructure. Offering a
wide range of commerce and business solutions, advanced SEO and
marketing tools, the platform enables users to take full ownership
of their brand, their data and their relationships with their
customers. With a focus on continuous innovation and delivery of
new features and products, users can seamlessly build a powerful
and high-end digital presence for themselves or their
clients.
For more about Wix, please visit our Press RoomMedia Relations
Contact: PR@wix.com
1 Based on number of active live sites
as reported by competitors' figures, independent third-party data
and internal data as of H1 2024.
Forward-Looking Statements
This document contains forward-looking
statements, within the meaning of the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995 that involve risks
and uncertainties. Such forward-looking statements may be
identified by words like “anticipate,” “assume,” “believe,” “aim,”
“forecast,” “indication,” “continue,” “could,” “estimate,”
“expect,” “intend,” “may,” “plan,” “potential,” “predict,”
“project,” “outlook,” “future,” “will,” “seek,” “confidence,” and
similar terms or phrases. The forward-looking statements contained
in this document, are based on management’s current expectations,
which are subject to uncertainty, risks and changes in
circumstances that are difficult to predict and many of which are
outside of our control. Important factors that could cause our
actual results to differ materially from those indicated in the
forward-looking statements include, among others, our expectation
that we will be able to attract and retain registered users and
partners, and generate new premium subscriptions, in particular as
we continuously adjust our marketing strategy and as the
macro-economic environment continues to be turbulent; our
expectation that we will be able to increase the average revenue we
derive per premium subscription, including through our partners;
our expectation that new products and developments, as well as
third-party products we will offer in the future within our
platform, will receive customer acceptance and satisfaction,
including the growth in market adoption of our online commerce
solutions and our Wix Studio product; our expectations regarding
our ability to develop relevant and required products using
artificial intelligence (“AI”), the regulatory environment
impacting AI and AI-related activities, including privacy and
intellectual property, and potential competitive impacts from AI
tools; our assumption that historical user behavior can be
extrapolated to predict future user behavior, in particular during
turbulent macro-economic environments; our prediction of the future
revenues and/or bookings generated by our user cohorts and our
ability to maintain and increase such revenue growth, as well as
our ability to generate and maintain elevated levels of free cash
flow and profitability; our expectation to maintain and enhance our
brand and reputation; our expectation that we will effectively
execute our initiatives to improve our user support function
through our Customer Care team, and continue attracting registered
users and partners, and increase user retention, user engagement
and sales; our ability to successfully localize our products,
including by making our product, support and communication channels
available in additional languages and to expand our payment
infrastructure to transact in additional local currencies and
accept additional payment methods; our expectation regarding the
impact of fluctuations in foreign currency exchange rates, interest
rates, potential illiquidity of banking systems, and other
recessionary trends on our business; our expectations relating to
the repurchase of our ordinary shares and/or Convertible Notes
pursuant to our repurchase program; our expectation that we will
effectively manage our infrastructure; our expectation to comply
with AI, privacy, and data protection laws and regulations as well
as contractual privacy and data protection obligations; our
expectations regarding the outcome of any regulatory investigation
or litigation, including class actions; our expectations regarding
future changes in our cost of revenues and our operating expenses
on an absolute basis and as a percentage of our revenues, as well
as our ability to achieve and maintain profitability; our
expectations regarding changes in the global, national, regional or
local economic, business, competitive, market, and regulatory
landscape, including as a result of Israel-Hamas war and/or the
Israel-Hezbollah hostilities and/or the Ukraine-Russia war and any
escalations thereof and potential for wider regional instability
and conflict; our planned level of capital expenditures and our
belief that our existing cash and cash from operations will be
sufficient to fund our operations for at least the next 12 months
and for the foreseeable future; our expectations with respect to
the integration and performance of acquisitions; our ability to
attract and retain qualified employees and key personnel; and our
expectations about entering into new markets and attracting new
customer demographics, including our ability to successfully
attract new partners large enterprise-level users and to grow our
activities, including through the adoption of our Wix Studio
product, with these customer types as anticipated and other factors
discussed under the heading “Risk Factors” in the Company’s annual
report on Form 20-F for the year ended December 31, 2023, filed
with the Securities and Exchange Commission on March 22, 2024. The
preceding list is not intended to be an exhaustive list of all of
our forward-looking statements. Any forward-looking statement made
by us in this press release speaks only as of the date hereof.
Factors or events that could cause our actual results to differ may
emerge from time to time, and it is not possible for us to predict
all of them. We undertake no obligation to publicly update any
forward-looking statements, whether as a result of new information,
future developments or otherwise.
Wix com (NASDAQ:WIX)
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Wix com (NASDAQ:WIX)
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