Wix.com reported third quarter results on Tuesday in a Form 6-K filing. Revenue was 570 million dollars, up 13 percent year on year, and bookings were 573 million dollars, up 11 percent. Non-GAAP gross margin was 69 percent, flat year on year and up two points sequentially, which the company attributed to its proprietary AI model, Base 1.
The growth engine is Base44, the AI app building product Wix acquired and has made its biggest bet. Base44 is nearing 250 million dollars of annual recurring revenue. Its non-GAAP gross margin reached 58 percent in the third quarter, from near zero in the first quarter, and Wix still expects second half margin near 60 percent, with the fourth quarter above 60 percent, driven by reductions in AI inference costs from Base 1. Finance chief Lior Shemesh said retention of the earliest Base44 cohort at the twelve month mark was above expectations, renewal rates are improving across subsequent cohorts, and annual plans accounted for more than 20 percent of subscriptions in the September 2026 cohort, up from about 5 percent a year earlier.
Wix also launched Studio Two, which it called a first of its kind AI powered open ecosystem creation platform for professional designers and agencies, rebuilding the editor so AI generation, visual design and standard React code operate in one workflow.
The filing carried a leadership change: co-founder and president Nir Zohar has been appointed co-chief executive alongside Avishai Abrahami, effective immediately. Zohar, chief operating officer since 2008 and president since 2013, will lead business strategy, go to market and operations, while Abrahami leads product, AI and technology.