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Wix.com revenue growth continues, PaySign beats Q1 management guidance, and more...
Wix.com reported a 14% year-over-year rise in first-quarter revenue to $541 million, with bookings growing 15%. Despite increasing AI competition, management projects mid-teens percentage growth in bookings and revenue for 2026. The company repurchased about 30% of its shares in April following a stock price dip. CEO Avishai Abraham highlighted their proprietary LLM, Wix Harmony, and noted that coding platform Base44 is advancing AI-powered innovation. However, rival Anthropic's Claude Design, capable of creating polished visual work, poses a competitive threat similar to some Wix offerings, contributing to recent share price weakness.
PaySign achieved a record first quarter with revenue soaring 50.8% year-over-year to $28 million, surpassing management guidance. Earnings per share were 9 cents, beating analysts' 7-cent expectation. Despite the closure of 19 plasma donor centers in May, CFO Jeff Baker anticipates minimal revenue impact due to donor transfers. Alibaba's CEO Eddie Wu emphasized the company's full-stack AI investments moving from incubation to commercialization, showcasing accelerated breakthroughs in models and cloud infrastructure. However, Alibaba's Q4 revenue grew only 3% year-over-year, and non-GAAP EBITDA plunged 84%, leading to a 2% dip in its stock during pre-market trading.
Doximity is expected to release its fourth-quarter figures, with analysts predicting a 4.8% year-over-year revenue growth, a slowdown from its 10% gain in Q3 and 17% in the same quarter last year. Karooooo will provide its Q4 update for fiscal 2026, following strong top- and bottom-line beats in Q3 and operating in an expanding market. Cisco is set to post Q3 earnings, with investors watching for continued double-digit revenue and earnings growth, particularly focusing on its AI infrastructure revenue, targeted at over $3 billion for the full year, and new security offerings.
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