growth and product of Thanks, We business XXXX well as strong and up driven fantastic successful Nir. map as with our strong strategy execution profitability, wrapped pricing road fundamentals. a by
all the targeting [ basis outperformed squarely full above for us XXXX, maintaining XX rule as X-year Our XX XXXX. in of and an ] weeks speed are as-reported put year on performance of targets we the for Venit our full fronts a Rule of we on ahead significant are Still, milestone plan.
well as key Before walking environment and increase consecutive year XXXX our execution year results. benefit of our the implemented a want quarter, AI from XXXX for growth and both earlier through to studio QX summarize growth fourth strong and our quickly as accelerated demand Bookings commerce full and positive initiatives revenue by outlook, price driven continued QX. I in this
the was an FX, Google in of creative QX Workspace. Total FX began $XXX robust up top $XXX which the new was in modest quarter which late the total year, expectations. negative fourth volatility continuing bookings quarter, strong applications, Business year-over-year, driven due adoption QX subscriptions resulted particularly through and We experience was million in recent the over business Solutions the most acceleration excluding in an bookings impact segment in FX performance to of by in elevated incredible million to a XX% at
in acceleration $XXX self XX% we $XXX year-over-year, to business in our adoption partner Total was expanded Partners step business as GPV QX Payments and year-over-year very a revenue attach meaningful million, new we in applications million partners a strength. XX% creators XX% in grew strong the rate $XX partners. take Studio revenue remained up by increase year-over-year, increasingly continued and QX compounded up sustained driven year-over-year to GPV by QX grew up year-over-year revenue Wix transaction as and platform. million, in and driven in XX% onboarded
in service-focused those We home drove fourth this services GPV the days saw across which week, to to due week falling the initial merchants growth merchants. stay families for the was of of fewer to some we in compared celebrate and our in lower expectations. verticals selling slightly resulting the In middle many with XXXX, entire Christmas believe quarter, our their
GPV to the than FX headwinds in revenue basis. year-over-year arose in QX. impact up This headwinds the situational currency revenue quarter, on late constant GPV also in Adjusting GPV immediate was had was expected by a and on XX% bookings transaction impacted that the lower finish which drove quarter. for FX, fourth
stable, continued expansion we and XX% to in year revenue. to of costs with We cash of We growth kept our as the free increase and flow margins. or able profitability Turning QX margin exited were resulting margins. in better drive $XXX million operating
of ARR Total was Total revenue of in up billion an year-over-year. of billion, XX% of full over year-over-year, bookings XXXX with creative XXXX to on subscriptions XXXX increase year in up billion XX% year, Moving $X.XXX results. $X.XXX the to grew $X.XXX as end year-over-year. the XX%
million Non-GAAP to operating revenue basis growth operating XX% stable year of XXX of first operating compared GAAP to history. X% revenue. of momentum. We free maintained top end we an income in the was in as revenue or cash XXXX income margin above XXXX, a flow of or line marks GAAP Wix' of income base $XXX This positive expanded XX% cost generated strong Notably, high $XXX our amid increase million expectations. nearly of and points operating the of
flow double momentum. to testament as sustained focused This drive we in growth generated a our cash free and management is nearly cost the XXXX
to thoughts about my XXXX. now Turning
by against initiatives demand well a powered standout growth a product are as we environment. key ongoing with another existing product other year XXXX, Following positive enhancements the robust you as expect familiar of
to the growth. continue conversion bigger be suite benefits anticipate ramp We're usage growth community First, and AI as these to offering will by market products so trends even share in and XXXX. professional the continues capture we today, see studio and engines encouraged of our we
initiatives enhancements strategic product rolled Second, which many of for XXXX, out slotted have have of number or tested. we we a already and new
tailwinds already direct are enhancements seeing these we this expect into and ARPS initiatives We translate conversion value to which delivering year. and to users today
as in those year subscription top line currently business in contribution a through progress we ours. to increasingly underway like expect and from the initiatives We as does it typically layer enhancements model
This bookings through benefit As as to in XXXX, anticipated the bookings year. year. a is the particularly the midway to continue impressive result, see price growth half and through fully we acceleration lap the entire revenue we expect QX while tailwind in accelerate increase we'll revenue second of
almost factoring heard I you want new to Avishai the about know are we products from that into no expectations. contribution just
expectations fully While launched outlook medium-term around these I'm offerings build early confident are not new include do growth, and drive plan can will usage we better they we them until to in data.
to I that revenue January I has volatility with turn anticipate impact XX% a late outside our we headwinds to assuming new began approximately to which in XXXX company the the beginning adverse through everyone global before want U.S., the to of we rates FX strong derived of Finally, mid-QX, numbers, outsized spot remind rates as year, FX outlook. from experience continued
will currency be providing full as basis. for quarter on and constant reported and we So first the year guidance both
full the bookings of For XXXX basis, [ to ] year, XX% on $X,XXX expect to year-over-year. we as-reported total an up million XX%
We following dollar British to FX changes for expect exchange approximately euro million headwind the pound of year an and in U.S. $XX primarily rates. full
basis. a bookings year-over-year total XX% of expect We constant currency on growth XX% to
million the $XX year-over-year full $X,XXX of as-reported constant million impact total currency of excluding on a up basis. total We from revenue to an estimated we for XX% FX, negative an XX% to expect growth revenue on million approximately XX% XX% year-over-year year, expect be basis. $X,XXX to to
revenue expect $XXX QX as-reported up to in to $XXX on total million We of XX% XXXX an basis, XX% million year-over-year.
total constant expect currency growth basis. to XX% a on of We year-over-year revenue XX%
on year ahead. years Following the we stable remain focused structure leverage the past the meaningful operating managing generated cost operating in a over X
As in anticipate improve line top through to profitability such, strength flow we to XXXX.
We expect the XX% year. full margin to improve non-GAAP gross to total for
is cost as occur in initiatives implemented back our organization. Most improvement half across care incremental AI of efficiencies anticipated of to expected a drive the margin the newly
This for in the we XX% expect additional expect NOLs full of anticipated year. pay leverage taxes be revenue also of utilization with approximately our expenses XX% following We year, full cash million the non-GAAP to of operating operating to $XX to XXXX.
of to of or XXXX. This translates XX% $XX to free in anticipate X% to in CapEx million revenue also We million of $XXX million approximately $XXX million $XX to flow XXXX. expectations approximately cash or revenue XX% of
dollar of to top our line, FX net in anticipated be expense margin XXXX. headwind significant cash we non-U.S. $XX currencies, I free the a portion strengthening currency as on a with is we earlier, line, on a our translating operating XX% constant in million the are of expenses, to a particularly FX to U.S. denominated payroll from While modeling headwind a expect discussed benefit to XX% flow basis from the
in The incredible driving both profitability our that progress XXXX, recent revenue expectations focus high positions top new to cash milestone target end of and on a our Wix flow underscores years. made free and of improvements Rule the relentless in on achieve XX of growth
Finally, plans capital I want to touch quickly on allocation for the year ahead.
$XXX point plan comes which cash. this convertible due down shares. remain note to pay or Our August, million we million value we We and managing year. outstanding were by returning to time, shareholders to at committed completion repurchase in with in to as responsibly able X.X% of program share approximately of demonstrated our $XXX earlier this XXX,XXX shares dilution, repurchase the Nevertheless,
flow in generation cash free focus translate cash XXXX. expect diluted to per combination careful management free higher with count to strong in share on flow We our share
to Operator, questions. new We things the for milestones ready for planned we're I now and forward look horizon. on this the exciting have year, many
