Wix’s Q4 Growth Accelerates as Base44 Adoption Surges

Overview

• Lakehouse Global Growth Fund reported that Q4 bookings and revenue in constant currency each rose 13% year over year to $515 million and $504 million, helped by more partner-led customers buying higher-tier plans and using payments.
• Wix said Q4 2025 revenue was $524 million, up 14% from a year earlier.
• Base44, the visual no‑code tool Wix bought in 2025 to let people build standalone apps, grew users about sevenfold to more than 2 million and lifted annual recurring revenue more than tenfold, with the fund expecting about $50 million in ARR by year‑end 2025.
• Management kept underlying operating profit roughly flat as it reinvested to scale Base44, while free‑cash‑flow margin excluding acquisition transaction costs expanded to about 32% and the fund characterized the stock at roughly 10 times projected 2026 free cash flow.
• Despite these operating gains, Wix shares recently traded near $81.95 with a roughly 45% 52‑week decline, and Insider Monkey counted hedge‑fund holders down to 45 portfolios in Q4 from 71 the prior quarter.