The bet on Base44 pays off: Wix beats forecasts in the third quarter and appoints Nir Zohar as co-CEO
Wix surpassed analyst expectations in the third quarter with revenues of $570 million and adjusted profit of $69.3 million, and announced the appointment of Nir Zohar as co-CEO alongside Avishai Abrahami. Base44, acquired in 2025, is approaching an annual recurring revenue run rate of $250 million.
Wix exceeded analyst forecasts in its third-quarter 2026 results, with revenues of $570 million (13% growth) and adjusted profit of $69.3 million ($1.42 per share), $0.07 above estimates. Concurrently, the company announced the appointment of president Nir Zohar as co-CEO alongside founder Avishai Abrahami. The standout growth engine is Base44, acquired in June 2025, which is approaching an annual recurring revenue run rate of $250 million. CEO Abrahami stated, "Base44, our biggest bet, continues to exceed expectations." The company left its annual revenue guidance unchanged but updated its free cash flow forecast to 16% due to accelerated investments in Base44. Wix's stock has fallen 31.6% since the start of the year amid investor concerns over the impact of generative AI tools on the business model.