Wix.com (WIX) Citi’s 2026 Global TMT Conference summary

Industry trends and platform evolution

• AI is transforming website creation and interaction, with agentic traffic now exceeding human traffic online.

• The role of websites is evolving, not diminishing, as AI enables more complex and personalized experiences.

• Integration of AI tools like Harmony and Gemini streamlines user intent recognition and content creation.

• Complexity in online transactions is increasing, requiring seamless synchronization across platforms and agents.

• The shift to an AI-driven internet presents both significant risks and massive opportunities for growth.

Product strategy and customer adoption

• Users gravitate toward different solutions: Harmony for simplicity, Base44 for applications, and headless for professionals.

• Base44's ARR grew from $100M to $150M in just over two months, with continued momentum.

• Expansion of Vibe coding and natural language tools is expected to drive broader adoption as awareness increases.

• Enterprise sales efforts are ramping up, aiming to widen the customer funnel and category reach.

• Retention trends for Base44 are positive, especially among business users, with expectations for further improvement.

Financial performance and operational efficiency

• Proprietary AI models (Harmony LLM, Base 1) have reduced inference costs to 5% of frontier alternatives.

• Cost savings are significant, but protecting IP and tailoring models to specific use cases are seen as even more valuable.

• Gross margins for Base44 are improving, with expectations for further gains next year.

• Marketing investment will be balanced against profitability, with guidance to provide more detail on strategy.

• The mix between Base44 and core products will influence consolidated margins going forward.