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Wix at 7.5x Free Cash Flow: Deep Value or Value Trap?
Wix took on $1.1B in 0% convertible notes priced near $210/share, then bought back $1.6B of stock, all with shares trading around $75. Is management seeing value the market is missing, or is WIX a value trap?
Wix (WIX) has been one of the hardest-hit names in this year’s SaaSpocalypse. The market has been pricing software companies as if the AI labs will absorb everything. The numbers tell a more complicated story. Revenue re-accelerated 15% year over year to $563 million in Q2 2026, driven by price increases and by Base44, the vibe coding app builder Wix acquired in June 2025. Base44 crossed…
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