Wix, a website-building software company founded in Israel, said third-quarter revenue reached US$570.2 million, while total annual recurring revenue hit US$2.02 billion.

Base44, its AI app-building platform, is nearing US$250 million in annual recurring revenue. Wix also appointed president Nir Zohar as co-CEO alongside founder Avishai Abrahami.

Wix reported a GAAP net loss of US$13.7 million and free cash flow of US$74.5 million. The company cut its full-year free-cash-flow margin forecast, excluding acquisition-related and restructuring costs, to about 16%.

It said the lower forecast mainly reflected higher sales and marketing spending on Base44. Wix also expects a US$10 million working-capital impact in the fourth quarter from graphics processing unit capacity prepayments.

Base44, which Wix acquired in 2025, posted a 58% non-GAAP gross margin in the third quarter. Wix expects that figure to exceed 60% in the fourth quarter, helped by lower AI inference costs after it developed its Base 1 model.

Wix had previously projected Base44 would reach US$50 million in annual recurring revenue by the end of 2025.

🔗 Source: Calcalist