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This document contains forward-looking statements, within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. Such forward-looking statements may include projections regarding our future performance, including, but not limited to revenue, bookings and free cash flow, and may be identified by words like “anticipate,” “assume,” “believe,” “aim,” “forecast,” “indication,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “outlook,” “future,” “will,” “seek” and similar terms or phrases. The forward-looking statements contained in this document, including the quarterly and annual guidance, are based on management’s current expectations, which are subject to uncertainty, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Important factors that could cause our actual results to differ materially from those indicated in the forward-looking statements include, among others, our expectation that we will be able to attract and retain registered users and generate new premium subscriptions; our expectation that we will be able to increase the revenue we derive from the sale of premium subscriptions and business solutions, through our partners; our expectation that new products and developments, as well as third-party products we will offer in the future within our platform, will receive customer acceptance and satisfaction, including the growth in market adoption of our online commerce solutions; our assumption that historical user behavior can be extrapolated to predict future user behavior; our expectations regarding execution of our multi-year strategic plan and cost reduction plan; our prediction of the future revenues generated by our user cohorts and our ability to maintain and increase such revenue growth; our expectation to maintain and enhance our brand and reputation; our expectation that we will effectively execute our initiatives to scale and improve our user support function through our Customer Care team, and thereby increase user retention, user engagement and sales; our expectation that our products created for markets outside of North America will continue to generate growth in those markets; our plans to successfully localize our products, including by making our product, support and communication channels available in additional languages and to expand our payment infrastructure to transact in additional local currencies and accept additional payment methods; our expectations regarding the extent of the impact on our business and operations of the COVID-19 pandemic, including uncertainty relating to expected consumer dynamics after the COVID-19 pandemic subsides, the effectiveness of government policies, vaccine administration rates and other factors; our expectation regarding the impact of fluctuations in foreign currency exchange rates on our business; our expectations relating to the repurchase of our ordinary shares and/or Convertible Notes pursuant to our repurchase program; our expectation that we will effectively manage the growth of our infrastructure; changes we expect may occur to technologies used in our solutions; our expectations regarding the outcome of any regulatory investigation or litigation, including class actions; our expectations regarding future changes in our cost of revenues and our operating expenses on an absolute basis and as a percentage of our revenues, as well as our ability to achieve profitability; our expectations regarding changes in the global, national, regional or local economic, business, competitive, market, and regulatory landscape, including as a result of increasing interest rates and inflationary pressures, lasting effects of COVID-19, and as a result of the military invasion of Ukraine by Russia; our planned level of capital expenditures and our belief that our existing cash and cash from operations will be sufficient to fund our operations for at least the next 12 months and for the foreseeable future; our expectations with respect to the integration and performance of acquisitions; our ability to attract and retain qualified employees and key personnel; our expectations about entering into new markets and attracting new customer demographics, including our ability to successfully attract new partners and grow our partner activities as anticipated and other factors discussed under the heading “Risk Factors” in the Company’s annual report on Form 20-F for the year ended December 31, 2021 filed with the Securities and Exchange Commission on April 1, 2022. Any forward-looking statement made by us in this press release speaks only as of the date hereof. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise.

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Wix.com Ltd.

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands)

		Period ended
		June 30,				December 31,
		2022				2021
		(unaudited)				(audited)
Assets
Current Assets:
Cash and cash equivalents		$	241,886			$	451,355
Short-term deposits			568,840				411,687
Restricted cash and deposits			9,737				7,012
Marketable securities			353,350				456,515
Trade receivables			40,800				30,367
Prepaid expenses and other current assets			34,059				32,877
Total current assets			1,248,672				1,389,813
Long-Term Assets:
Prepaid expenses and other long-term assets			23,320				41,554
Property and equipment, net			64,955				50,437
Marketable securities			291,572				387,341
Intangible assets and goodwill, net			86,384				89,547
Operating lease right-of-use assets			243,526				101,095
Total long-term assets			709,757				669,974
Total assets		$	1,958,429			$	2,059,787
Liabilities and Shareholders' Equity (deficiency)
Current Liabilities:
Trade payables		$	127,113			$	114,584
Employees and payroll accruals			78,169				83,251
Deferred revenues			522,570				484,446
Current portion of convertible notes, net			360,579				-
Accrued expenses and other current liabilities			83,053				62,816
Operating lease liabilities			25,052				29,201
Total current liabilities			1,196,536				774,298
Long-term deferred revenues			67,125				59,966
Long-term deferred tax liability			24,509				72,803
Convertible notes, net			564,998				922,974
Other long-term liabilities			2,090				2,267
Long-term operating lease liabilities			192,735				81,764
Total long-term liabilities			851,457				1,139,774
Total liabilities			2,047,993				1,914,072
Shareholders'  Equity (deficiency)
Ordinary shares			114				111
Additional paid-in capital			1,137,242				994,795
Treasury Stock			(199,997	)			(199,997	)
Accumulated other comprehensive income			(40,258	)			(1,056	)
Accumulated deficit			(986,665	)			(648,138	)
Total shareholders' equity (deficiency)			(89,564	)			145,715
Total liabilities and shareholders' equity		$	1,958,429			$	2,059,787

Wix.com Ltd.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

		Three Months Ended								Six Months Ended
		June 30,								June 30,
		2022				2021				2022				2021
		(unaudited)								(unaudited)
OPERATING ACTIVITIES:
Net income (loss)		$	(111,238	)		$	37,633			$	(338,527	)		$	(24,481	)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation			4,022				3,378				7,557				6,810
Amortization			1,580				846				3,154				1,445
Share based compensation expenses			59,139				50,396				120,123				97,027
Amortization of debt discount and debt issuance costs			1,302				1,296				2,603				2,703
Changes in accrued interest and exchange rate on short term and long term deposits			(210	)			(63	)			(165	)			(48	)
Amortization of premium and discount and accrued interest on marketable securities, net			1,256				2,082				2,805				4,405
Revaluation on Marketable equity securities			54,920				(73,186	)			206,565				(73,186	)
Deferred income taxes, net			(12,644	)			32,752				(48,219	)			40,103
Changes in operating lease right-of-use assets			9,737				8,379				18,575				13,060
Changes in operating lease liabilities			(15,525	)			(7,578	)			(25,172	)			(13,613	)
Decrease (increase) in trade receivables			1,216				875				(10,433	)			(5,301	)
Increase in prepaid expenses and other current and long-term assets			(15,032	)			(26,929	)			(27,345	)			(100,845	)
Increase (decrease) in trade payables			(9,573	)			2,234				12,113				(1,028	)
Increase (decrease) in employees and payroll accruals			(342	)			(27,407	)			(5,082	)			13,147
Increase in short term and long term deferred revenues			7,731				19,266				45,283				69,596
Increase (decrease) in accrued expenses and other current liabilities			20,974				(2,141	)			19,816				10,527
Net cash provided by (used in) operating activities			(2,687	)			21,833				(16,349	)			40,321
INVESTING ACTIVITIES:
Proceeds from short-term deposits and restricted deposits			126,259				40,000				231,259				178,015
Investment in short-term deposits and restricted deposits			(240,972	)			(171,529	)			(390,972	)			(172,131	)
Investment in marketable securities			(92,408	)			-				(164,563	)			-
Proceeds from marketable securities			78,870				90,562				140,250				180,659
Purchase of property and equipment and payment of prepaid expenses			(12,629	)			(6,657	)			(31,912	)			(10,377	)
Capitalization of internal use of software			(588	)			(462	)			(1,229	)			(591	)
Proceeds from sale of marketable equity securities			-				-				3,193				-
Payment for Businesses acquired, net of acquired cash			-				(37,217	)			-				(42,803	)
Purchases of investments in privately held companies			(1,000	)			(1,500	)			(1,160	)			(1,500	)
Net cash provided by (used in) investing activities			(142,468	)			(86,803	)			(215,134	)			131,272
FINANCING ACTIVITIES:
Proceeds from exercise of options and ESPP shares			432				11,380				22,014				21,802
Net cash provided by financing activities			432				11,380				22,014				21,802
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS			(144,723	)			(53,590	)			(209,469	)			193,395
CASH AND CASH EQUIVALENTS—Beginning of period			386,609				415,843				451,355				168,858
CASH AND CASH EQUIVALENTS—End of period		$	241,886			$	362,253			$	241,886			$	362,253

Wix.com Ltd.

RECONCILIATION OF REVENUES TO CONSTANT CURRENCY REVENUES

(In thousands)

		Three Months Ended
		June 30,
		2022
		(unaudited)
Revenues		$	345,224
Adjustment for FX changes			3,744
Y/Y Constant Currency Revenues		$	348,968

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