Shares of Wix.com Ltd (NASDAQ:WIX) jumped about 9% on Wednesday after the company unveiled a sizable $2 billion share repurchase program approved by its board.
The authorization covers a two-year period spanning fiscal 2026 and 2027 and gives Wix flexibility to buy back ordinary shares and/or convertible notes. Repurchases may be carried out through a mix of open-market transactions and privately negotiated deals.
The move underscores the board’s confidence in Wix’s longer-term cash generation prospects. The company said it expects to fund the program using existing cash balances and future operating cash flow, while also retaining the option to raise additional capital if needed.
Wix emphasized that the program does not commit the company to repurchase a fixed amount of securities and may be paused or terminated at any time. The buyback will commence after a mandatory 30-day creditor objection period, in line with Israeli regulatory requirements.
Management added that the pace and scale of any repurchases will depend on factors such as market conditions, financial performance and the outcome of the creditor review process, marking a significant step in returning capital to shareholders.