Wix (WIX) Net Retention Rate

How revenue from existing customers grows or shrinks over time after accounting for upgrades, downgrades, and churn. A high net retention rate indicates strong product stickiness and effective upselling; a low rate warns that churn is offsetting new sales.

Net retention fell from the mid‑110s in 2021 to ~104–106 since late‑2022, signalling the installed base still grows but with a much weaker expansion tail than before. That drop aligns with SMB macro pressure and partner slowdown, while management’s current playbook — heavy acquisition (BASE44), higher‑price plan monetization and a proprietary LLM — is explicitly aimed at restoring cohort expansion. BASE44’s fast ARR and stronger new‑cohort monetization provide upside, but elevated marketing/AI costs and partner headwinds keep meaningful NRR reacceleration uncertain near term.