Market Signal Briefing

Barratt Redrow PLC chief executive David Thomas will retire after 11 years in the role, with former Balfour Beatty divisional boss Dean Banks appointed as his successor.

Banks will join the housebuilder in the final quarter of 2026 and take over as group chief executive once Thomas steps down.

Thomas, who has been at the North East-headquartered company for 17 years, will stay with the business until March 2027 to ensure a smooth transition.

Banks currently runs Ventia, an infrastructure services company operating in Australia and New Zealand. He has been group chief executive there since 2021 and previously held senior roles at Balfour Beatty and De La Rue.

Chair Caroline Silver highlighted Banks's "strong experience as a public company chief executive, with deep knowledge of the construction and infrastructure sectors and a proven track record of value creation".

She also paid tribute to the outgoing chief executive, saying he leaves behind "an industry-leading business with a clear strategy, a strong balance sheet and an exceptional team".

Thomas's time included leading Barratt's £2.5 billion acquisition of Redrow in 2024.

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CrowdStrike Holdings, Inc. (CRWD) Q4 2026 Earnings Call Transcript

The operation in Iran has solidified Palantir's status as the "digital bedrock" of the modern Pentagon. The integration of the Maven Smart System and AIP has enabled the compression of the "sensor-to-shooter" chain to mere seconds. Geopolitical instability is not just a short-term catalyst but a long-term driver for contract expansion.

With Harmony, Base44 and an ambitious roadmap ahead, Wix is reshaping how people create in the AI era and expanding the world of what’s possible online

Finished 2025 with Q4 bookings of $535 million, up 15% y/y, and Q4 revenue of $524 million, up 14% y/y, driven by new cohort momentum and Base44 outperformanceBase44 recently reached $100 million of ARR, powered by a fast-growing community of users building everything from simple apps to fully customized business softwareHealthy mid-teens top-line growth anticipated for 2026 as we drive forward ambitious product roadmaps, including Base44 and Wix Harmony Harmony demonstrating strong early conversion and monetization, driving new core Wix cohort bookings growth acceleration in early 2026Expect FCF1 margin in the low- to mid-20% range in 2026, reflecting the necessary investments to build category-defining products and fully unlock market opportunity Plan to complete majority of $2 billion share repurchase program in 2026$250 million equity investment led by Durable Capital Partners, underscoring shared conviction in Wix’s long-term strategy and vision NEW YORK -- Wix.com Ltd. (Nasdaq: WIX) (the “Company”), today reported financial results for the fourth quarter and full year 2025. In addition, the Company provided its initial outlook for the first quarter and full year 2026. Please visit the Wix Investor Relations website at https://investors.wix.com to view the Q4'25 Shareholder Update and other materials.

“2026 marks a defining new chapter for Wix as we enter an era of the internet that is evolving exponentially faster through AI advancements, with Wix Harmony and Base44 leading our roadmap,” said Avishai Abrahami, Co-founder and CEO of Wix. “Early Wix Harmony performance is better-than-expected, with improved conversion and monetization. In tandem, Base44 recently reached $100 million in ARR, just one year after its founding and 9 months after our acquisition. Together, Wix Harmony and Base44 open up the world of what’s possible on Wix, with Base44 significantly expanding our TAM to include software applications. Importantly, these new flagship products align with our long‑standing vision of making complex technology accessible to everyone.”

Nir Zohar, President and Co-founder at Wix, continued, “We believe deeply that Harmony and Base44 are gamechangers, the first major steps in our mission to reshape how people create in an AI world and the foundational pillars of Wix’s growth ahead. We’re not the only ones with this confidence – Durable Capital Partners has led a $250 million equity investment in Wix with an extended lockup, reinforcing our shared conviction in our long‑term strategy, our ability to execute, and the value we are driving for shareholders. We are backing our conviction with decisive action and intend to execute on our $2 billion share repurchase program aggressively and quickly. We plan to complete the majority of the program before the end of 2026.”

Lior Shemesh, CFO at Wix, added, “We exited 2025 with healthy momentum, setting us up for continued growth in 2026. Our cohort-based business model is stronger than ever and the value of the Wix platform is accelerating. We expect 2026 to be a pivotal year as we make category-defining innovations and expand our leadership across the broader online ecosystem as AI tech increasingly makes the impossible now possible, setting the foundation for long-term growth acceleration. This ambitious strategy demands high-impact investments to fully unlock the market opportunity ahead as top-of-funnel demand continues to strengthen. We are playing to win and we believe our strategic execution in 2026 will position us for sustained profitable growth in the long term.”

Wix Receives $250 million private placement led by Durable Capital Partners

The Company announced today that it has entered into a definitive agreement to sell securities in a private placement to institutional investors led by Durable Capital Partners. The transaction is expected to result in gross proceeds of up to $250 million, before deducting placement agent fees and offering expenses, including up to $150 million of gross proceeds from Durable Capital Partners.

Pursuant to the terms of the securities purchase agreement, the Company will issue $250 million in aggregate purchase price of units to the investors at a purchase price per unit equal to a 5% discount to today’s closing price of the Company’s ordinary shares on the Nasdaq Global Select Market; provided that in no event will the number of units sold by the Company to the investors exceed 6,150,633 unless the Company, in its sole discretion, elects to waive this limitation. Each unit consists of one ordinary share and one warrant to purchase 0.25 of one ordinary share at a 25% premium to the above-mentioned closing price. The warrants will expire on the third anniversary of the closing date. The Company plans to use the net proceeds from the financing for general corporate purposes. The closing of the transaction is subject to certain customary conditions and is expected to occur on March 5, 2026.

The offer and sale of the securities described above are being made in a transaction not involving a public offering and the securities have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or applicable state securities laws. The securities being issued in the private placement and upon exercise of the warrants may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy the foregoing securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

J.P. Morgan Securities LLC acted as exclusive placement agent to the Company in connection with the private placement.

Q4 2025 Financial Results

Total revenue in the fourth quarter of 2025 was $524.3 million, up 14% y/y Total ARR was $1.836 billion at the end of the fourth quarter of 2025, up 14% y/y Creative Subscriptions revenue in the fourth quarter of 2025 was $370.4 million, up 12% y/yBusiness Solutions revenue in the fourth quarter of 2025 was $153.8 million, up 18% y/y Transaction revenue2 in the fourth quarter of 2025 was $67.3 million, up 18% y/y Partners revenue3 in the fourth quarter of 2025 was $203.2 million, up 21% y/yTotal bookings in the fourth quarter of 2025 were $534.5 million, up 15% y/y Creative Subscriptions bookings in the fourth quarter of 2025 were $375.8 million, up 16% y/yBusiness Solutions bookings in the fourth quarter of 2025 were $158.7 million, up 14% y/y Total gross margin on a GAAP basis in the fourth quarter of 2025 was 67% Creative Subscriptions gross margin on a GAAP basis was 82%Business Solutions gross margin on a GAAP basis was 33% Total non-GAAP gross margin in the fourth quarter of 2025 was 68% Creative Subscriptions gross margin on a non-GAAP basis was 83%Business Solutions gross margin on a non-GAAP basis was 34% GAAP net loss in the fourth quarter of 2025 was $40.2 million, or $0.73 per basic and diluted shareNon-GAAP net income in the fourth quarter of 2025 was $111.3 million, or $2.03 per basic share and $1.81 per diluted shareNet cash provided by operating activities for the fourth quarter of 2025 was $158.3 million, while capital expenditures totaled $2.8 million, leading to free cash flow of $155.6 millionIn Q4’25, we executed $100 million of share repurchases, repurchasing approximately 750K Wix ordinary shares in total at an approximate volume-weighted average price per share of $133.56Total employee count at the end of Q4’25 was 5,340 Full Year 2025 Financial Results

Total revenue for the full year 2025 was $1.99 billion, up 13% y/y Creative Subscriptions revenue for the full year 2025 was $1.41 billion, up 11% y/yBusiness Solutions revenue for the full year 2025 was $583.3 million, up 18% y/y Transaction revenue for the full year 2025 was $255.0 million, up 19% y/y Partners revenue for the full year 2025 was $750.3 million, up 23% y/yTotal bookings for the full year 2025 were $2.07 billion, up 13% y/y Creative Subscriptions bookings for the full year 2025 were $1.48 billion, up 12% y/yBusiness Solutions bookings for the full year 2025 were $593.4 million, up 15% y/y Total gross margin on a GAAP basis for the full year 2025 was 68% Creative Subscriptions gross margin on a GAAP basis was 83%Business Solutions gross margin on a GAAP basis was 32% Total non-GAAP gross margin for the full year 2025 was 69% Creative Subscriptions gross margin on a non-GAAP basis was 84%Business Solutions gross margin on a non-GAAP basis was 33% GAAP net income for the full year 2025 was $50.6 million, or $0.91 per basic and $0.88 per diluted shareNon-GAAP net income for the full year 2025 was $441.6 million, or $7.95 per basic share and $7.32 per diluted shareNet cash provided by operating activities for the full year 2025 was $582.9 million, while capital expenditures totaled $9.9 million, leading to free cash flow of $573.0 millionExcluding acquisition-related costs, free cash flow for the full year 2025 would have been $605.1 million, or 30% of revenueCompleted $575 million in repurchases of ordinary shares in 2025, underscoring our commitment to share count management and returning value to shareholdersFinished full year 2025 with 6.11 million total premium subscriptions as of December 31, 2025, inclusive of Base44Registered users as of December 31, 2025 were over 304 million ____________________
1        Projected free cash flow excludes acquisition-related costs and the impact of our $2 billion share repurchase program
2        Transaction revenue is a portion of Business Solutions revenue, and we define transaction revenue as all revenue generated through transaction facilitation, primarily from Wix Payments, as well as Wix POS, shipping solutions and multi-channel commerce and gift card solutions.
3        Partners revenue is defined as revenue generated through agencies and freelancers that build sites or applications for other users (“Agencies”) as well as revenue generated through B2B partnerships, such as LegalZoom or Vistaprint (“Resellers”). We identify Agencies using multiple criteria, including but not limited to, the number of sites built, participation in the Wix Partner Program and/or the Wix Marketplace or Wix products used (incl. Wix Studio). Partners revenue includes revenue from both the Creative Subscriptions (including Base44) and Business Solutions businesses.

Financial Outlook

2026 is gearing up to be a foundational year as we drive forward multiple ambitious product roadmaps, including Wix Harmony and Base44. We believe these initiatives will cement Wix’s leadership for the next decade and meaningfully expand our role across the broader online ecosystem as the world increasingly shifts towards AI, with several key launches already demonstrating encouraging results.

Category-defining innovations demand high-impact, though disciplined, investments to fully unlock the market opportunity ahead for both Wix and Base44, especially as top-funnel demand continues to strengthen.

As our business meaningfully evolves, we are updating our guidance philosophy to reflect the wider range of outcomes that accompany significant innovation and allow for flexibility to execute while maintaining transparency with shareholders.

For the full year 2026, we expect both bookings and revenue for the consolidated business to grow at mid-teens percentage on a year-over-year basis.

For the first quarter of 2026, we expect revenue for the consolidated business to grow at a mid-teens percentage on a year-over-year basis.

For the full year 2026, we expect FCF margin assuming current capital structure and excluding acquisition costs to be in the low- to mid-20% range. This wider-than-usual range reflects the dynamic, hyper-growth trajectory of Base44 and the inherent variability that accompanies rapid expansion. In a newly-created space where we are playing to win, we are focused on making the necessary investments to position Base44 as the leader. So the more Base44 top-line growth outperforms, the more pressure on near-term FCF margin.

Our core Wix business remains healthy and profitable. In 2026, we expect solid bookings and revenue performance, with flat to expanding FCF margin in our core business.

Conference Call and Webcast Information

Wix will host a conference call to discuss the results at 8:30 a.m. ET on Wednesday, March 4, 2026. A live and archived webcast of the conference call will be accessible from the "Investor Relations" section of the Company’s website at https://investors.wix.com/.

About Wix.com Ltd.

Wix’s vision is to simplify complex technologies and deliver the best tools for every type of user and business to create online. Powered by advanced AI and enterprise-grade infrastructure, Wix is trusted by hundreds of millions of users worldwide. Founded in 2006 and strengthened by the 2025 acquisition of Base44, the no-code application platform, Wix is continuing to build for the future of the internet.

For more about Wix, please visit our Press Room
Media Relations Contact: [email protected]

Non-GAAP Financial Measures and Key Operating Metrics

To supplement its consolidated financial statements, which are prepared and presented in accordance with U.S. GAAP, Wix uses the following non-GAAP financial measures: bookings, cumulative cohort bookings, bookings on a constant currency basis, revenue on a constant currency basis, non-GAAP gross margin, non-GAAP operating income (loss), non-GAAP operating margin, non-GAAP net income (loss), non-GAAP net income (loss) per share, free cash flow, free cash flow on a constant currency basis, free cash flow, as adjusted, free cash flow margins, non-GAAP R&D expenses, non-GAAP S&M expenses, non-GAAP G&A expenses, non-GAAP operating expenses, non-GAAP cost of revenue expense, non-GAAP financial expense, non-GAAP tax expense (collectively the "Non-GAAP financial measures"). Measures presented on a constant currency or foreign exchange neutral basis have been adjusted to exclude the effect of y/y changes in foreign currency exchange rate fluctuations. Bookings is a non-GAAP financial measure calculated by adding the change in deferred revenues and the change in unbilled contractual obligations for a particular period to revenues for the same period. Bookings include cash receipts for premium subscriptions purchased by users as well as cash we collect from business solutions, as well as payments due to us under the terms of contractual agreements for which we may have not yet received payment. Cash receipts for premium subscriptions are deferred and recognized as revenues over the terms of the subscriptions. Cash receipts for payments and the majority of the additional products and services (other than Google Workspace) are recognized as revenues upon receipt. Committed payments are recognized as revenue as we fulfill our obligation under the terms of the contractual agreement. Non-GAAP gross margin represents gross profit calculated in accordance with GAAP as adjusted for the impact of share-based compensation expense, acquisition-related expenses and amortization, divided by revenue. Non-GAAP operating income (loss) represents operating income (loss) calculated in accordance with GAAP as adjusted for the impact of share-based compensation expense, amortization, acquisition-related expenses and sales tax expense accrual and other G&A expenses (income). Non-GAAP net income (loss) represents net loss calculated in accordance with GAAP as adjusted for the impact of share-based compensation expense, amortization, sales tax expense accrual and other G&A expenses (income), amortization of debt discount and debt issuance costs and acquisition-related expenses and non-operating foreign exchange expenses (income). Non-GAAP net income (loss) per share represents non-GAAP net income (loss) divided by the weighted average number of shares used in computing GAAP loss per share. Free cash flow represents net cash provided by (used in) operating activities less capital expenditures. Free cash flow, as adjusted, represents free cash flow further adjusted to exclude the capital expenditures and other expenses associated with the buildout of our new corporate headquarters, and cash acquisition-related expenses. Free cash flow margins represent free cash flow divided by revenue. Non-GAAP cost of revenue represents cost of revenue calculated in accordance with GAAP as adjusted for the impact of share-based compensation expense, acquisition-related expenses and amortization. Non-GAAP R&D expenses represent R&D expenses calculated in accordance with GAAP as adjusted for the impact of share-based compensation expense, acquisition-related expenses and amortization. Non-GAAP S&M expenses represent S&M expenses calculated in accordance with GAAP as adjusted for the impact of share-based compensation expense, acquisition-related expenses and amortization. Non-GAAP G&A expenses represent G&A expenses calculated in accordance with GAAP as adjusted for the impact of share-based compensation expense, acquisition-related expenses and amortization. Non-GAAP operating expenses represent operating expenses calculated in accordance with GAAP as adjusted for the impact of share-based compensation expense, acquisition-related expenses and amortization. Acquisition-related expenses include transaction costs and retention payments that would not otherwise have been incurred by us in the normal course of our business. Non-GAAP financial expense represents financial expense calculated in accordance with GAAP as adjusted for unrealized gains of equity investments, amortization of debt discount and debt issuance costs and non-operating foreign exchange expenses. Non-GAAP tax expense represents tax expense calculated in accordance with GAAP as adjusted for provisions for income tax effects related to non-GAAP adjustments.

The presentation of this financial information is not intended to be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP. The Company uses these non-GAAP financial measures for financial and operational decision making and as a means to evaluate period-to-period comparisons. The Company believes that these measures provide useful information about operating results, enhance the overall understanding of past financial performance and future prospects, and allow for greater transparency with respect to key metrics used by management in its financial and operational decision making.

For more information on the non-GAAP financial measures, please see the reconciliation tables provided below. The accompanying tables have more details on the GAAP financial measures that are most directly comparable to non-GAAP financial measures and the related reconciliations between these financial measures. The Company is unable to provide reconciliations of free cash flow, free cash flow margin, free cash flow margin, excluding acquisition-related costs and the impact of our repurchase program, free cash flow, as adjusted, bookings, cumulative cohort bookings, non-GAAP gross margin, non-GAAP operating expenses, non-GAAP operating expenses as a percentage of revenue, and non-GAAP tax expense to their most directly comparable GAAP financial measures on a forward-looking basis without unreasonable effort because items that impact those GAAP financial measures are out of the Company's control and/or cannot be reasonably predicted. Such information may have a significant, and potentially unpredictable, impact on our future financial results.

Wix also uses Creative Subscriptions Annualized Recurring Revenue (ARR) as a key operating metric. Creative Subscriptions ARR is calculated as Creative Subscriptions Monthly Recurring Revenue (MRR) multiplied by 12. Creative Subscriptions MRR is calculated as the total of (i) the total monthly revenue of all Creative Subscriptions (including Base44) in effect on the last day of the period, other than domain registrations; (ii) the average revenue per month from domain registrations multiplied by all registered domains in effect on the last day of the period; and (iii) monthly revenue from other partnership agreements including enterprise partners, in effect in the last month of the period. Business Solutions Annualized Recurring Revenue (ARR) is calculated as Business Solutions Monthly Recurring Revenue (MRR) multiplied by 12. Business Solutions MRR is calculated as the total monthly value of Business Solutions subscriptions in effect on the last day of the period. Business Solutions subscriptions include, but are not limited to, subscriptions such as Google Workspace, Email Marketing, and recurring paid ads.

Forward-Looking Statements

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,” “subject,” “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 partners to our various offerings, and generate new paid subscriptions, in particular as we continuously adjust our marketing strategy and as the macro-economic environment continues to be turbulent; our expectation that we will be able to increase the average revenue we derive per paid subscription, including through our partners; our expectation that new products and developments (such as Wix Harmony), 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 and our Wix Studio product, as well as our vibe coding product and Base44 offering; our expectations regarding our ability to develop relevant and required products using artificial intelligence (“AI”), the regulatory environment impacting AI and AI-related activities including cybersecurity, including privacy and intellectual property, and potential competitive impacts from AI tools, and other risks associated with AI technologies; our assumption that historical user behavior can be extrapolated to predict future user behavior, in particular during turbulent macro-economic environments; our prediction of the future revenues and/or bookings generated by our user cohorts and our ability to maintain and increase such revenue growth, as well as our ability to generate and maintain elevated levels of free cash flow and profitability; our expectation to maintain and enhance our brand and reputation; our expectation that we will effectively execute our initiatives to improve our user support function through our Customer Care team, and continue attracting registered users and partners, and increase user retention, user engagement and sales; our ability 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 expectation regarding the impact of fluctuations in foreign currency exchange rates, interest rates, potential illiquidity of banking systems, and other recessionary trends on our business; our expectations relating to the repurchase of our ordinary shares and/or convertible notes pursuant to our repurchase program, or as required; our expectation that we will comply with the restrictions under our Credit Agreement; our expectation that we will effectively manage our infrastructure; our expectation to comply with AI, cybersecurity, privacy, and data protection laws and regulations as well as contractual privacy and data protection obligations; our expectation that we will efficiently and successfully manage cybersecurity risks and incidents; 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, including as a result of elevated costs related to AI, as well as our ability to achieve and maintain profitability; our expectation with respect to future sales of our ordinary shares by directors, officers or large shareholders; our expectations regarding changes in the global, national, regional or local economic, business, competitive, market, and regulatory landscape, including as a result of the war and hostilities between Israel and Hamas, Hezbollah, Iran and the Houti movement in Yemen and/or the Ukraine-Russia war and any escalations thereof and potential for wider regional instability and conflict; 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; and our expectations about entering into new markets and attracting new customer demographics, including our ability to successfully attract new partners, large enterprise-level users and to grow our activities, including through the adoption of our Wix Studio product, with these customer types as anticipated other factors discussed under the heading “Risk Factors” in the Company’s annual report on Form 20-F for the year ended December 31, 2024 filed with the Securities and Exchange Commission on March 21, 2025. The preceding list is not intended to be an exhaustive list of all of our forward-looking statements. 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.

Wix.com Ltd. CONSOLIDATED STATEMENTS OF OPERATIONS - GAAP (In thousands, except income per share data)                    Three Months Ended Year Ended  December 31, December 31,   2025   2024   2025   2024   (unaudited) (unaudited) Revenues        Creative Subscriptions$370,421  $329,732  $1,409,727  $1,264,975  Business Solutions 153,848   130,723   583,317   495,675    524,269   460,455   1,993,044   1,760,650           Cost of Revenues        Creative Subscriptions 67,989   52,671   237,288   213,422  Business Solutions 103,304   90,965   399,065   351,213    171,293   143,636   636,353   564,635           Gross Profit 352,976   316,819   1,356,691   1,196,015           Operating expenses:        Research and development 211,244   127,186   645,501   495,281  Selling and marketing 152,134   106,629   514,280   425,457  General and administrative 62,186   46,984   195,158   175,136  Impairment, restructuring and other costs -   -   -   -  Total operating expenses 425,564   280,799   1,354,939   1,095,874  Operating income (loss) (72,588)  36,020   1,752   100,141  Financial income (expenses), net 12,604   16,355   (5,015)  51,820  Other income (expenses), net 29   (94)  4,352   (36) Income (loss) before taxes on income (59,955)  52,281   1,089   151,925  Income tax expenses (benefit) (21,211)  4,257   (51,047)  13,603  Loss from equity method investment 1,490   -   1,490   -  Net income (loss)$(40,234) $48,024  $50,646  $138,322           Basic net income (loss) per share$(0.73) $0.86  $0.91  $2.49  Basic weighted-average shares used to compute net income (loss) per share 54,944,944   55,786,201   55,550,762   55,579,368           Diluted net income (loss) per share$(0.73) $0.80  $0.88  $2.36  Diluted weighted-average shares used to compute net income (loss) per share 54,944,944   60,648,791   57,716,592   59,953,371            Wix.com Ltd.CONDENSED CONSOLIDATED BALANCE SHEETS(In thousands)     Period ended December 31, December 31,  2025   2024 Assets(unaudited) (audited)Current Assets:   Cash and cash equivalents$311,356  $660,939 Restricted cash 5,520   - Short-term deposits 385,280   106,844 Restricted deposits 222   773 Marketable securities 483,859   338,593 Trade receivables 41,525   44,674 Prepaid expenses and other current assets 96,252   128,577  Total current assets 1,324,014   1,280,400     Long-Term Assets:   Prepaid expenses and other long-term assets 33,847   27,021 Property and equipment, net 114,419   128,155 Equity method investment 4,851   - Deferred tax asset 94,549   - Marketable securities 474,198   6,135 Intangible assets, net 31,810   22,141 Goodwill 135,021   49,329 Operating lease right-of-use assets 398,265   399,861  Total long-term assets 1,286,960   632,642      Total assets$2,610,974  $1,913,042     Liabilities and Shareholders' Deficiency   Current Liabilities:   Trade payables$74,811  $47,077 Employees and payroll accruals 110,526   143,131 Deferred revenues 737,346   661,171 Current portion of convertible notes, net -   572,880 Accrued expenses and other current liabilities 146,716   63,246 Operating lease liabilities 43,262   27,907 Total current liabilities 1,112,661   1,515,412 Long Term Liabilities:   Deferred revenues 116,991   89,271 Deferred tax liability 3,923   1,965 Convertible notes, net 1,125,769   - Other long-term liabilities 200,054   16,021 Operating lease liabilities 417,578   369,159 Total long-term liabilities 1,864,315   476,416      Total liabilities 2,976,976   1,991,828     Shareholders' Deficiency   Ordinary shares 104   107 Additional paid-in capital 2,067,407   1,840,574 Treasury shares (1,600,156)  (1,025,167)Accumulated other comprehensive loss 17,539   7,242 Accumulated deficit (850,896)  (901,542)Total shareholders' deficiency (366,002)  (78,786)    Total liabilities and shareholders' deficiency$2,610,974  $1,913,042      Wix.com Ltd.
 CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
 (In thousands)
                    Three Months Ended Year Ended  December 31, December 31,   2025   2024   2025   2024   (unaudited) (unaudited) OPERATING ACTIVITIES:        Net income (loss)$(40,234) $48,024  $50,646  $138,322  Adjustments to reconcile net loss to net cash provided by operating activities:        Depreciation 6,065   6,278   24,491   25,246  Amortization 2,885   1,460   6,962   5,869  Share based compensation expenses 58,111   61,801   237,376   240,721  Amortization of debt discount and debt issuance costs 1,283   793   3,831   3,166  Changes in accrued interest and exchange rate on short term and long term deposits 294   (635)  (308)  852  Amortization of premium and discount and accrued interest on marketable securities, net (14,741)  (7,007)  (41,243)  (13,381) Loss from equity method investment 1,490   -   1,490   -  Remeasurement gain on marketable equity securities and investments in privately held companies (68)  -   (110)  (2,536) Changes in deferred income taxes, net (24,829)  (7)  (91,742)  (5,196) Changes in operating lease right-of-use assets 5,476   4,351   19,921   24,246  Changes in operating lease liabilities 9,414   (2,821)  45,449   (33,086) Loss (gain) on foreign exchange, net (511)  2,471   (18,225)  3,906  Decrease in trade receivables 13,163   5,550   3,219   12,720  Decrease (increase) in prepaid expenses and other current and long-term assets 3,478   (66,205)  39,004   (79,484) Increase in trade payables 41,974   16,403   26,962   11,967  Increase (decrease) in employees and payroll accruals (1,542)  67,531   (32,955)  86,550  Increase in short term and long term deferred revenues 14,985   1,609   103,874   74,450  Increase (decrease) in accrued expenses and other current liabilities 81,640   (5,860)  204,216   3,083  Net cash provided by operating activities 158,333   133,736   582,858   497,415  INVESTING ACTIVITIES:        Proceeds from short-term deposits and restricted deposits 10,046   97,051   188,475   276,697  Investment in short-term deposits and restricted deposits (10,027)  (25,540)  (467,837)  (170,332) Investment in available-for-sale marketable debt securities (639,888)  -   (639,888)  -  Proceeds from available-for-sale marketable debt securities 9,111   15,000   68,921   125,176  Investment in trading marketable debt securities -   -   (278,038)  (267,209) Proceed from trading marketable debt securities -   -   277,249   -  Purchase of property and equipment and lease prepayment (2,515)  (1,562)  (8,553)  (17,813) Capitalization of internal use of software (249)  (401)  (1,348)  (1,523) Proceeds from (investment in) other assets -   -   (10,458)  550  Proceeds from sale of equity securities -   -   -   22,148  Payment for Businesses acquired, net of acquired cash (5,335)  -   (23,880)  -  Proceed from realization of investments in privately held companies -   -   417   -  Purchases of investments in privately held companies (2,150)  (1,000)  (7,208)  (3,160) Net cash provided by (used in) investing activities (641,007)  83,548   (902,148)  (35,466) FINANCING ACTIVITIES:        Proceeds from exercise of options and ESPP shares 200   6,692   54,818   59,576  Purchase of treasury stock (99,999)  -   (574,999)  (466,302) Proceeds from issuance of convertible senior notes -   -   1,150,000   -  Repayment of convertible notes -   -   (575,000)  -  Payments of debt issuance costs (8)  -   (25,942)  -  Purchase of capped call -   -   (71,875)  -  Net cash provided by (used in) financing activities (99,807)  6,692   (42,998)  (406,726) Effect of exchange rates on cash, cash equivalent and restricted cash 511   (2,471)  18,225   (3,906) INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH (581,970)  221,505   (344,063)  51,317  CASH, CASH EQUIVALENTS AND RESTRICTED CASH—Beginning of period 898,846   439,434   660,939   609,622  CASH, CASH EQUIVALENTS AND RESTRICTED CASH—End of period$316,876  $660,939  $316,876  $660,939            Wix.com Ltd.KEY PERFORMANCE METRICS(In thousands)         Three Months Ended Year Ended December 31, December 31,  2025  2024  2025  2024 (unaudited) (unaudited)Creative Subscriptions$370,421 $329,732 $1,409,727 $1,264,975Business Solutions 153,848  130,723  583,317  495,675Total Revenues$524,269 $460,455 $1,993,044 $1,760,650        Creative Subscriptions$375,841 $325,203 $1,476,531 $1,315,445Business Solutions 158,676  139,389  593,358  514,607Total Bookings$534,517 $464,592 $2,069,889 $1,830,052        Free Cash Flow$155,569 $131,773 $572,957 $478,079        Free Cash Flow excluding HQ build out and acquisition costs$155,569 $131,773 $605,085 $488,404        Total consolidated ARR$1,836,426 $1,607,277 $1,836,426 $1,607,277                 Wix.com Ltd.RECONCILIATION OF REVENUES TO BOOKINGS(In thousands)         Three Months Ended Year Ended December 31, December 31,  2025   2024   2025   2024  (unaudited) (unaudited)Revenues$524,269  $460,455  $1,993,044  $1,760,650 Change in deferred revenues 14,985   1,609   103,895   74,450 Change in unbilled contractual obligations (4,737)  2,528   (27,050)  (5,048)Bookings$534,517  $464,592  $2,069,889  $1,830,052         Y/Y growth 15%    13%                                           Three Months Ended Year Ended December 31, December 31,  2025   2024   2025   2024  (unaudited) (unaudited)Creative Subscriptions Revenues$370,421  $329,732  $1,409,727  $1,264,975 Change in deferred revenues 10,157   (7,057)  93,854   55,518 Change in unbilled contractual obligations (4,737)  2,528   (27,050)  (5,048)Creative Subscriptions Bookings$375,841  $325,203  $1,476,531  $1,315,445         Y/Y growth 16%    12%                                   Three Months Ended Year Ended December 31, December 31,  2025   2024   2025   2024  (unaudited) (unaudited)Business Solutions Revenues$153,848  $130,723  $583,317  $495,675 Change in deferred revenues 4,828   8,666   10,041   18,932 Business Solutions Bookings$158,676  $139,389  $593,358  $514,607         Y/Y growth 14%    15%           Wix.com Ltd.RECONCILIATION OF TOTAL CONSOLIDATED ARR(In thousands)         Three Months Ended Year Ended December 31, December 31, 2025 2024 2025 2024 (unaudited) (unaudited)Creative subscription ARR$  1,524,025 $    1,343,071 $    1,524,025 $    1,343,071Business solution ARR312,401 264,206 312,401 264,206Total consolidated ARR$  1,836,426 $    1,607,277 $    1,836,426 $    1,607,277        Y/Y growth 14%              Wix.com Ltd.RECONCILIATION OF COHORT BOOKINGS(In millions)     Year Ended     December 31,     2025 2024     (unaudited)Q1 Cohort revenues    $                 44 $                 45Q1 Change in deferred revenues    21 16Q1 Cohort Bookings    $                 65 $                 61         Wix.com Ltd. RECONCILIATION OF REVENUES AND BOOKINGS EXCLUDING FX IMPACT (In thousands)  Three Months Ended
     December 31,
     2025  2024     (unaudited)
    Revenues$     524,269  $       460,455    FX  impact on Q4/25 using Y/Y rates(5,800) -    Revenues excluding FX impact$     518,469  $       460,455             Y/Y growth13%                Three Months Ended
     December 31,
     2025  2024     (unaudited)
    Bookings$     534,517  $       464,592    FX  impact on Q4/25 using Y/Y rates(10,100) -    Bookings excluding FX impact$     524,417  $       464,592             Y/Y growth13%                Wix.com Ltd.TOTAL ADJUSTMENTS GAAP TO NON-GAAP(In thousands)                 Three Months Ended Year Ended December 31, December 31, 2025 2024 2025 2024(1) Share based compensation expenses:(unaudited) (unaudited)Cost of revenues$         3,584  $           3,466 $         13,915  $         14,146 Research and development31,681  32,320 127,503  126,462 Selling and marketing9,300  9,625 36,971  38,755 General and administrative13,546  16,390 58,987  61,358 Total share based compensation expenses58,111  61,801 237,376  240,721 (2) Amortization2,923  1,834 7,009  6,243 (3) Acquisition related expenses90,044  - 131,563  6 (4) Amortization of debt discount and debt issuance costs1,283  793 3,831  3,166 (5) Sales tax accrual and other G&A expenses2,694  881 3,400  1,464 (6) Unrealized gain on equity and other investments(1,118) - (1,090) (2,536)(7) Non-operating foreign exchange expenses (income)(4,129) 3,767 7,154  (4,703)(8) Provision for income tax effects related to non-GAAP adjustments257  - 257  583 (9) Loss from equity method investment1,490  - 1,490  - Total adjustments of GAAP to Non GAAP$     151,555  $         69,076 $       390,990  $       244,944             Wix.com Ltd.
 RECONCILIATION OF GAAP TO NON-GAAP GROSS PROFIT
 (In thousands)
                          Three Months Ended
  Year Ended
  December 31,
  December 31,
  2025  2024  2025  2024  (unaudited)
  (unaudited)
 Gross Profit$352,976  $316,819  $1,356,691  $1,196,015 Share based compensation expenses3,584  3,466  13,915  14,146 Acquisition related expenses22  -  205  - Amortization2,170  667  4,420  2,669 Non GAAP Gross Profit$358,752  $320,952  $1,375,231  $1,212,830             Non GAAP Gross margin68% 70% 69% 69%                         Three Months Ended
  Year Ended
  December 31,
  December 31,
  2025  2024  2025  2024  (unaudited)
  (unaudited)
 Gross Profit - Creative Subscriptions$302,432  $277,061  $1,172,439  $1,051,553 Share based compensation expenses2,532  2,482  9,835  10,232 Acquisition related expenses22  -  205  - Amortization1,553  -  1,553  - Non GAAP Gross Profit - Creative Subscriptions$306,539  $279,543  $1,184,032  $1,061,785             Non GAAP Gross margin - Creative Subscriptions83% 85% 84% 84%                         Three Months Ended
  Year Ended
  December 31,
  December 31,
  2025  2024  2025  2024  (unaudited)
  (unaudited)
 Gross Profit - Business Solutions$50,544  $39,758  $184,252  $144,462 Share based compensation expenses1,052  984  4,080  3,914 Amortization617  667  2,867  2,669 Non GAAP Gross Profit - Business Solutions$52,213  $41,409  $191,199  $151,045             Non GAAP Gross margin - Business Solutions34% 32% 33% 30%             Wix.com Ltd.
 RECONCILIATION OF OPERATING INCOME (LOSS) TO NON-GAAP OPERATING INCOME
 (In thousands)
              Three Months Ended
  Year Ended
  December 31,
  December 31,
  2025  2024  2025  2024  (unaudited)   (unaudited)  Operating income (loss)$     (72,588) $         36,020  $           1,752  $       100,141 Adjustments:           Share based compensation expenses58,111  61,801  237,376  240,721 Amortization2,923  1,834  7,009  6,243 Sales tax accrual and other G&A expenses2,694  881  3,400  1,464 Acquisition related expenses90,044  -  131,563  6 Total adjustments153,772  64,516  379,348  248,434             Non GAAP operating income$       81,184  $       100,536  $       381,100  $       348,575             Non GAAP operating margin15% 22% 19% 20%                         Wix.com Ltd.
RECONCILIATION OF NET INCOME (LOSS) TO NON-GAAP NET INCOME AND NON-GAAP NET INCOME PER SHARE
(In thousands, except  per share data)
          Three Months Ended
 Year Ended December 31,
 December 31, 2025  2024 2025 2024 (unaudited)
 (unaudited)Net income (loss)$(40,234) $48,024 $50,646 $138,322Share based compensation expenses and other Non GAAP adjustments151,555  69,076 390,990 244,944Non-GAAP net income$111,321  $117,100 $441,636 $383,266         Basic Non GAAP net income per share$2.03  $2.10 $7.95 $6.90Weighted average shares used in computing basic Non GAAP net income per share54,944,944  55,786,201 55,550,762 55,579,368         Diluted Non GAAP net income per share$1.81  $1.93 $7.32 $6.39Weighted average shares used in computing diluted Non GAAP net income per share61,612,590  60,648,791 60,313,538 59,953,371                   Wix.com Ltd.
 RECONCILIATION OF NET CASH PROVIDED BY OPERATING ACTIVITIES TO FREE CASH FLOW
 (In thousands)
              Three Months Ended
  Year Ended
  December 31,
  December 31,
  2025  2024  2025  2024  (unaudited)
  (unaudited)
 Net cash provided by operating activities$     158,333  $       133,736  $       582,858  $       497,415 Capital expenditures, net(2,764) (1,963) (9,901) (19,336)Free Cash Flow$     155,569  $       131,773  $       572,957  $       478,079             Cash paid for acquisition-related costs-  -  32,128  - Capex related to HQ build out-  -  -  10,325 Free Cash Flow excluding HQ build out and acquisition costs$     155,569  $       131,773  $       605,085  $       488,404                         

Item 1 of 2 A Tesla logo is pictured at a Tesla dealership, after Tesla, Inc. released its financial results for the first quarter of 2025, in Berlin, Germany April 23, 2025. REUTERS/Annegret Hilse/File Photo

[1/2]A Tesla logo is pictured at a Tesla dealership, after Tesla, Inc. released its financial results for the first quarter of 2025, in Berlin, Germany April 23, 2025. REUTERS/Annegret Hilse/File Photo Purchase Licensing Rights, opens new tab

CompaniesBERLIN, March 4 (Reuters) - Germany's top industrial union is fighting for more influence at Tesla's (TSLA.O), opens new tab gigafactory outside Berlin, where ​staff are voting for a new works council after ‌a campaign marked by mud-slinging and legal challenges.

Voting began on Monday at Tesla's Gruenheide plant, the U.S. electric car maker's only European production ​site, with results expected later Wednesday.

The Reuters Iran Briefing newsletter keeps you informed with the latest developments and analysis of the Iran war. Sign up here.

The current council is ​dominated by non-union members. The IG Metall union is ⁠fielding 116 candidates in a bid to win a ​simple majority - 19 of 37 seats. The union secured 16 in ​the last election two years ago, when the council had 39 seats.

IG Metall has accused management of stoking anti-union sentiment. Plant director Andre ​Thierig has countered that the union is focused solely on ​boosting IG Metall membership.

"We are very satisfied with our election campaign. We ‌are ⁠running with a great team and our issues are clearly striking a chord with our colleagues," IG Metall's lead candidate Laura Arndt said in a statement to Reuters.

Works councils, elected ​by staff, are ​a cornerstone of ⁠German labour relations, representing employees in talks with management.

IG Metall dominates councils across German carmakers - ​including Volkswagen , BMW (BMWG.DE), opens new tab and Mercedes (MBGn.DE), opens new tab - but remains the ​underdog ⁠at Tesla, whose CEO Elon Musk is outspoken in his criticism of unions.

Tensions peaked in February when Tesla accused an IG Metall ⁠trade ​unionist of secretly filming a works ​council meeting and filed a criminal complaint.

IG Metall dismissed the allegation as a "calculated ​lie".

Reporting by Rachel More and Christina Amann. Editing by Mark Potter

Our Standards: The Thomson Reuters Trust Principles., opens new tab

STAAR Surgical Company (STAA) Q4 2025 Earnings Call Transcript

New Multi‑Port Charging Architecture Signals a Potential Leap Toward Ultra‑Fast EV Refueling - Designed to Accelerate Adoption, Improve Infrastructure Efficiency, and Transform the Global Charging Experience

SUNNY ISLES BEACH, FLORIDA / ACCESS Newswire / March 4, 2026 / Elektros Inc. (OTC Pink:ELEK) today announced that the United States Patent and Trademark Office (USPTO) has issued U.S. Patent No. 12,522,100 B1, titled "Multi-Port Charging Assembly for Electric Vehicles."

This newly issued patent represents a potential breakthrough in electric vehicle charging technology. The patented multi-port charging architecture is engineered to combine multiple independent power inputs and intelligently manage them through a single charging interface. By addressing structural limitations inherent in traditional single-port charging systems, the technology introduces a new infrastructure model that could significantly enhance how electric vehicles are recharged around the world.

The Company believes this multi-port charging approach has the potential to dramatically reduce overall EV charging times while maintaining compatibility with existing vehicle standards, positioning the technology as a scalable solution for the next generation of global EV infrastructure.

"Our primary objective with this patented technology is to fundamentally redefine the electric vehicle charging experience," said Shlomo Bleier, Chief Executive Officer of Elektros Inc. "We are working toward a future where recharging an electric vehicle from empty to full is comparable to refueling a gasoline vehicle - approximately three to four minutes. With our multi-port charging architecture, our goal is to enable full EV battery recharging in roughly seven minutes, a transformative advancement compared to the approximately one hour required by today's fastest supercharging solutions."

The patent was officially issued on January 13, 2026, includes 20 claims, and benefits from a 713-day patent term extension under 35 U.S.C. §154(b). The invention was developed by Shlomo Bleier and is assigned to Elektros Inc.

Elektros Inc. believes the technology may be applicable across a broad range of electric vehicle platforms, including passenger vehicles, commercial fleets, and specialty electric vehicles worldwide.

Patent Details:

Title: Multi-Port Charging Assembly for Electric Vehicles

Patent Number: US 12,522,100 B1

Issue Date: January 13, 2026

Assignee: Elektros Inc.

Inventor: Shlomo Bleier

Cautionary Statement Regarding Forward-Looking Information:

This press release contains forward-looking statements regarding potential applications, anticipated performance capabilities, and future commercialization of the patented technology. These statements are subject to risks and uncertainties, and actual results may differ materially. This release does not constitute an offer to sell or a solicitation of an offer to buy any securities.

Contact:

Elektros Inc. - IR and Media Inquiries

Email: [email protected]

Website: www.elektros.energy

SOURCE: Elektros, Inc.

March 04, 2026 01:30 ET  | Source: BW Offshore

Ex dividend USD 0.183 today

The shares in BW Offshore Limited will trade ex dividend USD 0.183 per share as from today, 4 March 2026.

Dividend payment to shareholders will be on or about 13 March 2026.

This information is published in accordance with the requirements of the Continuing Obligations.

[email protected]   www.bwoffshore.com

About BW Offshore:
BW Offshore engineers innovative floating production solutions. The Company has a fleet of FPSOs and floating wind solutions. By leveraging four decades of offshore operations and project execution, the Company creates tailored offshore energy solutions for evolving markets worldwide. BW Offshore has around 900 employees and is publicly listed on the Oslo stock exchange.

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act

5.32K Followers

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Q4: 2026-03-03 Earnings SummaryEPS of $0.00 beats by $0.04

 |

Revenue of

$330.69M

(-6.28% Y/Y)

misses by $6.50M

WEBTOON Entertainment Inc. (WBTN) Q4 2025 Earnings Call March 3, 2026 4:30 PM EST

Company Participants

Soohwan Kim
Junkoo Kim - Founder, CEO & Chairman of the Board
David Lee - CFO, COO & Director
Yongsoo Kim - Chief Strategy Officer & Head of Global

Conference Call Participants

Mark Stephen Mahaney - Evercore ISI Institutional Equities, Research Division
Benjamin Black - Deutsche Bank AG, Research Division
Dae Lee - JPMorgan Chase & Co, Research Division
Matthew Cost - Morgan Stanley, Research Division
Andrew Marok - Raymond James & Associates, Inc., Research Division

Presentation

Operator

Thank you for standing by. My name is John, and I will be your conference operator today. At this time, I would like to welcome everyone to the WEBTOON Entertainment Fourth Quarter and Full Year 2025 Earnings Call. [Operator Instructions]

I would now like to turn the call over to Soohwan Kim, Vice President of Investor Relations. Mr. Kim, please go ahead.

Soohwan Kim

Good afternoon, and thank you for joining us. As a reminder, our remarks today will include forward-looking statements, including those regarding our future plans, objectives and expected performance and our guidance for the next quarter. Actual results may vary materially from today's statements. Information concerning risks, uncertainties and other factors that could cause these results to differ is included in our SEC filings, including those stated in the Risk Factors section of our filings with the SEC. These forward-looking statements represent our outlook only as of date of this call. We undertake no obligation to revise or update any forward-looking statements.

Additionally, the matters we discuss today include both GAAP and non-GAAP financial measures. Reconciliation of any non-GAAP financial measures to the most directly comparable GAAP measures are set forth in our earnings press release. Non-GAAP financial measures should be considered in addition to and not a substitute for

Since Gulden joined in 2023, Adidas has embarked on a revamp strategy, taking steps to reposition its brand amid fierce competition.

Zoom Communications stands out in a weak software sector, supported by its Anthropic stake and robust net cash position. ZM trades at just 12x forward non-GAAP earnings, with net cash and investments comprising up to 48% of market cap. Management guides for modest 4.2% FY revenue growth but expresses optimism about AI monetization in FY '27.

Exelixis, Inc. (EXEL) Presents at TD Cowen 46th Annual Health Care Conference Transcript

Twenty-nine midstream energy companies were evaluated on a relative favorability matrix with factors representing yield, yield coverage, valuation, profitability, growth, and leverage. Based on this analysis, UGP, HESM, and USAC are the most favorable prospects in the midstream industry. I recommend investors who own TRP, GEL, or DKL carefully review their position, as these midstreams compare unfavorably to peers.

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Bitcoin is navigating heightened uncertainty as escalating conflicts in the Middle East inject fresh volatility into global markets. Price action has become increasingly reactive to geopolitical headlines, while broader liquidity conditions remain fragile. In this environment, directional conviction has weakened, and risk appetite appears constrained.

Recent analysis from Axel Adler highlights the deterioration in Bitcoin’s risk-adjusted performance profile. The Sharpe Ratio — measured over both 365-day and 180-day rolling windows — has moved decisively into negative territory. As of March 1, 2026, the 365-day Sharpe stands at -63, while the faster 180-day version has plunged to -287. Although the metric is scaled for regime analysis rather than interpreted as a classical Sharpe value, the implication is clear: over the past six to twelve months, volatility has not been compensated by returns.

Bitcoin Risk Meter (Sharpe-Based) | Source: CryptoQuant This shift began in January and accelerated through February’s price pressure. Notably, the fast Sharpe reading is approaching levels seen near the 2022 cycle low, while the slower measure remains less extreme but firmly negative. Complementing this signal, the MVRV Z-Score sits at 0.49 — below its historical mean but not at capitulation extremes.

The report further contextualizes Bitcoin’s positioning through the MVRV Z-Score with Standard Deviation bands. As of early March 2026, the Z-Score stands at 0.49 — below both its 365-day moving average (1.89) and historical mean (1.73), yet comfortably above the negative territory historically associated with capitulation. Structurally, this places Bitcoin in a neutral valuation regime.

Bitcoin MVRV Z-Score Standard Deviation Upper Bands | Source: CryptoQuant The MVRV Z-Score measures the deviation between market capitalization and realized capitalization, effectively comparing spot price to the aggregate cost basis of holders. Historically, readings above +1 standard deviation (around 3.55) have signaled overheating, while negative readings — when price trades below average holder cost — have marked major accumulation zones in 2019, 2020, and 2023. The current 0.49 reading indicates neither excess profit-taking pressure nor deep undervaluation.

This distinction is critical. The absence of overheating reduces the probability of an abrupt collapse driven by profit overhang. However, neutrality does not equate to opportunity. Historically strong buy signals emerged when MVRV moved decisively negative, not merely when it cooled toward 0.5.

Combined with the negative Sharpe Ratio regime, the message converges: risk-adjusted returns are unattractive, and valuation is neutral but not historically cheap. This is a transitional phase requiring a clear catalyst to define direction.

On the 3-day timeframe, Bitcoin remains structurally pressured following the breakdown from the $90,000–$95,000 distribution range. The chart shows a decisive rejection near the 200-period moving average (red), which had previously acted as dynamic support throughout much of the 2024–2025 uptrend. Once lost, price accelerated lower, confirming a transition from trend continuation to corrective structure.

BTC testing critical demand level | Source: BTCUSDT chart on TradingView Currently trading near $67,000, BTC is consolidating below the 100-period (green) and 50-period (blue) moving averages. Both shorter-term averages are curling downward, reflecting deteriorating momentum. The recent rebound from the $60,000–$62,000 region appears corrective rather than impulsive, lacking strong volume expansion relative to the breakdown phase. This suggests short-covering and tactical positioning rather than broad structural accumulation.

Importantly, the $60,000 zone now represents key horizontal support. It coincides with a prior consolidation area and marks the lower boundary of the current range. A sustained loss of this level would likely expose the $52,000–$55,000 region as the next high-liquidity demand zone.

For bulls to regain structural control, price would need to reclaim and hold above the 100-period average and reestablish higher highs on expanding volume. Until then, the dominant regime remains corrective, with volatility compressing inside a fragile recovery attempt.

Featured image from ChatGPT, chart from TradingView.com 

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Sebastian's journey into the world of crypto began four years ago, driven by a fascination with the potential of blockchain technology to revolutionize financial systems. His initial exploration focused on understanding the intricacies of various crypto projects, particularly those focused on building innovative financial solutions. Through countless hours of research and learning, Sebastian developed a deep understanding of the underlying technologies, market dynamics, and potential applications of cryptocurrencies. As his knowledge grew, Sebastian felt compelled to share his insights with others. He began actively contributing to online discussions on platforms like X and LinkedIn, focusing on fintech and crypto-related content. His goal was to expose valuable trends and insights to a wider audience, fostering a deeper understanding of the rapidly evolving crypto landscape. Sebastian's contributions quickly gained recognition, and he became a trusted voice in the online crypto community. To further enhance his expertise, Sebastian pursued a UC Berkeley Fintech: Frameworks, Applications, and Strategies certification. This rigorous program equipped him with valuable skills and knowledge regarding Financial Technology, bridging the gap between traditional finance (TradFi) and decentralized finance (DeFi). The certification deepened his understanding of the broader financial landscape and its intersection with blockchain technology. Sebastian's passion for finance and writing is evident in his work. He enjoys delving into financial research, analyzing market trends, and exploring the latest developments in the crypto space. In his spare time, Sebastian can often be found immersed in charts, studying 10-K forms, or engaging in thought-provoking discussions about the future of finance. Sebastian's journey as a crypto analyst and investor has been marked by a relentless pursuit of knowledge and a dedication to sharing his insights. His ability to navigate the complex world of crypto, combined with his passion for financial research and communication, makes him a valuable asset to the industry. As the crypto landscape continues to evolve, Sebastian remains at the forefront, providing valuable insights and contributing to the growth of this revolutionary technology.

Journalist

Posted: March 4, 2026

Chiliz [CHZ] rallied over the past 24 hours, securing its position as one of only two assets to post double-digit gains, trailing just behind Near Protocol [NEAR].

Market sentiment appears constructive at first glance. Trading volume surged 80% to $80.41 million, while market capitalization climbed toward the $400 million mark.

These metrics suggest renewed interest in the token. However, underlying technical signals indicate that the rally could be deceptive.

Understanding the market structure The weekly chart provides broader context. At the time of writing, CHZ traded within a descending channel, a structure often associated with bullish reversal potential.

This pattern typically confirms a bullish breakout only after the price decisively clears the upper boundary of the channel. When that occurs, price often rallies back toward the level where the initial breakdown began.

Source: TradingView

In CHZ’s case, the price advanced toward that upper boundary but encountered strong mid-range resistance. This level has triggered multiple rejections in the past, limiting upside momentum.

If buyers sustain strong momentum, CHZ could break above this mid-range barrier and target the upper zone of the channel.

However, repeated historical rejections at this level increase the likelihood of another pullback unless bulls demonstrate clear strength.

Momentum indicators suggest caution Momentum readings on the weekly timeframe do not fully support a sustained breakout.

The Moving Average Convergence Divergence (MACD) indicator showed weakening momentum at press time after forming a bearish crossover.

This crossover occurs when the signal line crosses above the MACD line, indicating that sellers have begun to dominate price action.

Such crossovers often precede extended downward moves, especially when they appear near key resistance levels. With CHZ currently testing resistance, the bearish MACD signal adds weight to the risk of rejection.

Source: TradingView

In addition, the Bull Bear Power indicator showed consecutive red histogram bars, confirming that bears were in control. The persistence of selling pressure further increases the probability of a corrective move.

Taken together, the rising bearish momentum, overhead resistance, and weakening trend strength place CHZ at risk of a deeper pullback despite its recent gains.

Why the rally could be a trap CHZ’s price surge did not occur in isolation. Derivatives market data showed that leveraged traders largely fueled the move.

Open Interest climbed to $44 million at the time of writing, reflecting an influx of capital into Futures contracts.

Meanwhile, short traders recorded higher liquidations over the past 24 hours, suggesting that forced short covering contributed to the rally.

When Open Interest rises alongside short liquidations, it often signals aggressive long positioning. In such cases, new capital frequently enters the market through long contracts, amplifying upward price pressure.

Source: CoinGlass

The Open Interest–Weighted Funding Rate was 0.0067% at the time of writing, indicating that long traders were paying a premium to maintain their positions.

This confirmed that market participants were skewed heavily bullish in the short term.

However, crowded long positioning near resistance increases the risk of a reversal. If price fails to break higher, long liquidations could accelerate a downside move.

In summary, while CHZ shows short-term strength supported by derivatives activity, technical indicators and structural resistance suggest caution.

Without a decisive breakout, the rally risks turning into a bull trap rather than the start of a sustained uptrend.

Final Summary CHZ is approaching a key resistance level while trading within a broader bullish structure. Perpetual futures traders are driving short-term upside, but the longer-term outlook remains fragile.

XRP price failed to stay above $1.420 and started a downside correction. The price is now holding the $1.3320 support and might aim for another increase.

XRP price started a downside correction and declined below $1.380. The price is now trading below $1.3740 and the 100-hourly Simple Moving Average. There is a new bearish trend line forming with resistance at $1.3880 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could start another increase if it stays above $1.3320. XRP Price Dips To Support XRP price failed to stay above $1.40 and started a downside correction, like Bitcoin and Ethereum. The price dipped below the $1.3920 and $1.3880 levels to enter a negative zone.

The price even dipped below the 50% Fib retracement level of the upward move from the $1.2702 swing low to the $1.4330 high. Besides, there is a new bearish trend line forming with resistance at $1.3880 on the hourly chart of the XRP/USD pair.

The bulls are now active above the $1.3320 zone. The price is now trading below $1.3750 and the 100-hourly Simple Moving Average. If there is a fresh upward move, the price might face resistance near the $1.370 level. The first major resistance is near the $1.3880 level, above which the price could rise and test $1.40.

Source: XRPUSD on TradingView.com A clear move above the $1.40 resistance might send the price toward the $1.4320 resistance. Any more gains might send the price toward the $1.450 resistance. The next major hurdle for the bulls might be near $1.50.

Downside Break? If XRP fails to clear the $1.3880 resistance zone, it could start a fresh decline. Initial support on the downside is near the $1.3320 level or the 61.8% Fib retracement level of the upward move from the $1.2702 swing low to the $1.4330 high. The next major support is near the $1.3085 level.

If there is a downside break and a close below the $1.3085 level, the price might continue to decline toward $1.2880. The next major support sits near the $1.2650 zone, below which the price could continue lower toward $1.250.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is now losing pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level.

Major Support Levels – $1.3320 and $1.3085.

Major Resistance Levels – $1.3880 and $1.4000.

Ripple expands payments platform into end-to-end stablecoin infrastructure as processed volume tops $100 billionThe company added managed custody, virtual account collections, and fiat-to-stablecoin settlement capabilities, positioning itself as a single provider for enterprise digital asset payments across 60 markets.Updated Mar 4, 2026, 4:50 a.m. Published Mar 4, 2026, 4:47 a.m.

Ripple is no longer just moving money. It wants to be the entire pipe.

The company shared with CoinDesk on Wednesday a press release that outlines a major expansion of Ripple Payments which turns the platform into a full-stack infrastructure layer for fiat and stablecoin money movement.

Businesses can now collect, hold, exchange, and pay out in both traditional currencies and stablecoins through a single provider, rather than stitching together separate vendors for custody, collections, conversion, and settlement.

The new capabilities come from two recent acquisitions. Palisade, which handles custody and treasury automation, powers the managed custody layer that lets businesses provision wallets at scale and sweep funds into operational accounts.

Rail, a virtual accounts and collections platform, enables businesses to accept fiat and stablecoin pay-ins through named virtual accounts with automated conversion and settlement.

The result is that a fintech doing cross-border payouts no longer needs one provider for custody, another for foreign exchange, a third for stablecoin liquidity, and a fourth for local payout rails. Ripple is consolidating all of that into one platform with one integration.

"For the global financial system to evolve, fintechs and financial institutions need infrastructure that treats digital assets with the same rigor as traditional finance," said Monica Long, president at Ripple, said in a prepared statement. "Ripple has built the blueprint for blockchain-based enterprise solutions designed to operate at global scale for regulated finance."

Meanwhile, Ripple said the platform has now processed more than $100 billion in total volume. That milestone lands against a broader backdrop of stablecoin adoption accelerating across the financial system, with global annual transaction volumes reaching $33 trillion last year and stablecoins now accounting for 30% of all onchain transaction volume.

The expansion comes at an interesting time for Ripple specifically.

XRP has been under pressure, down roughly 5% over the past week, according to CoinDesk market data, amid the broader market sell-off driven by the U.S.-Iran conflict.

But the payments business operates largely independently of the token's price, and the institutional adoption trajectory suggests Ripple's enterprise strategy is gaining traction regardless of what the spot market does.

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MARA Holdings, one of the largest Bitcoin (BTC) mining companies in the world, has signaled a major shift in strategy that could have significant implications for the broader BTC market. 

In a recent filing with the US Securities and Exchange Commission (SEC), the company disclosed an update to its treasury policy that would allow it to sell Bitcoin from its balance sheet — a notable departure from its long-standing commitment to holding the asset as a long-term investment.

Bitcoin Miner MARA May Sell Reserves Under the new policy, MARA is no longer strictly committed to retaining all of the Bitcoin it mines. Instead, it has opened the door to potentially liquidating part or even all of its holdings if circumstances require it.

MARA currently holds 53,822 BTC, making it the second-largest publicly traded corporate holder of Bitcoin, according to data from BitcoinTreasuries.net. 

At current market prices, the company’s reserves are valued at approximately $3.59 billion. Only Michael Saylor’s Strategy — formerly known as MicroStrategy — holds more, with over 720,000 BTC.

In its filing, MARA acknowledged that prolonged weakness in Bitcoin’s price could materially affect its financial position. If the price remains depressed or declines further, the value of its holdings could fall significantly, weighing on its balance sheet and liquidity. 

Because Bitcoin mining represents the company’s primary source of revenue, extended price declines could make it increasingly difficult to cover operational costs, meet debt obligations, or fund strategic initiatives.

The company also pointed to upcoming financial obligations, including the potential need to repurchase outstanding convertible senior notes in 2027. Meeting such obligations would require substantial cash resources. 

Under those circumstances — including liquidity pressures or adverse market conditions — MARA said it may decide to sell a portion or the entirety of its Bitcoin reserves.

Potential ‘Supply Bomb’ Looms  Market analyst Shanaka Anslem offered a detailed breakdown of the company’s current challenges. According to Anslem, MARA’s production cost now stands at approximately $87,000 per Bitcoin, while the asset is trading around $66,690. 

That gap means the company is effectively losing money on each block it mines. At the same time, hashprice — a key measure of mining profitability — has dropped to a record low of $35 per petahash.

Anslem also highlighted MARA’s 2025 open-market purchases. During that year, the company acquired 4,267 BTC at an average price of $111,034 per coin. With current prices significantly lower, those purchases are now roughly 38% underwater. 

Looking ahead, Anslem suggested that blockchain data will provide critical clues about whether MARA’s policy shift translates into actual selling. 

If the company’s wallets show no meaningful outflows over the next 90 days, he argued, the announcement may amount to little more than optional flexibility, and the perceived supply overhang could prove illusory. 

However, if substantial transfers begin — particularly in a market environment characterized by a Fear and Greed Index reading of 15 and Bitcoin already down 22% year-to-date — the psychological and price impact could be significant.

In that scenario, other miners with large treasuries might also come under scrutiny, creating what he described as a potential “supply bomb” effect.

The 1D chart shows BTC’s consolidation between $62,000 and $68,000 over the past month. Source: BTCUSDT on TradingView.com Featured image from OpenArt, chart from TradingView.com 

Dogecoin started a fresh decline below the $0.0950 zone against the US Dollar. DOGE is now consolidating losses and might face hurdles near $0.0920 and $0.0932.

DOGE price started a fresh decline below the $0.0950 level. The price is trading below the $0.0935 level and the 100-hourly simple moving average. There was a break below a bullish trend line with support at $0.0920 on the hourly chart of the DOGE/USD pair (data source from Kraken). The price could extend losses if it stays below $0.0920 and $0.0932. Dogecoin Price At Risk of More Downside Dogecoin price started a fresh decline after it closed below $0.10, like Bitcoin and Ethereum. DOGE declined below the $0.0950 and $0.0932 support levels.

The price even traded below $0.0920. Besides, there was a break below a bullish trend line with support at $0.0920 on the hourly chart of the DOGE/USD pair. A low was formed near $0.0885, and the price is now showing bearish signs. There was a recovery wave above $0.0900, but the price stayed below the 38.2% Fib retracement level of the downward move from the $0.0977 swing high to the $0.0885 low.

Dogecoin price is now trading below the $0.0932 level and the 100-hourly simple moving average. If there is a recovery wave, immediate resistance on the upside is near the $0.0920 level.

The first major resistance for the bulls could be near the $0.0932 level and the 50% Fib retracement level of the downward move from the $0.0977 swing high to the $0.0885 low. The next major resistance is near the $0.0950 level.

Source: DOGEUSD on TradingView.com A close above the $0.0950 resistance might send the price toward the $0.0975 resistance. Any more gains might send the price toward the $0.10 level. The next major stop for the bulls might be $0.1020.

Downside Break In DOGE? If DOGE’s price fails to climb above the $0.0932 level, it could continue to move down. Initial support on the downside is near the $0.0885 level. The next major support is near the $0.0850 level.

The main support sits at $0.0820. If there is a downside break below the $0.0820 support, the price could decline further. In the stated case, the price might slide toward the $0.0800 level or even $0.0750 in the near term.

Technical Indicators

Hourly MACD – The MACD for DOGE/USD is now gaining momentum in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for DOGE/USD is now below the 50 level.

Major Support Levels – $0.0885 and $0.0850.

Major Resistance Levels – $0.0920 and $0.0932.

Governor Mike Braun has signed House Bill 1042 into law, formalizing new protections for digital asset users in Indiana and setting guardrails around how state and local authorities may regulate cryptocurrency activity.

Summary

HB 1042 prohibits state and local governments from imposing discriminatory taxes or restrictions targeting cryptocurrency transactions. The law protects the right of Indiana residents to self-custody digital assets. Indiana formally defines cryptocurrency in state statute, providing regulatory clarity for courts and agencies. HB 1042 becomes law as Indiana expands legal clarity for digital assets The measure, which cleared the Indiana General Assembly earlier this session, establishes statutory definitions for cryptocurrency and limits the ability of state and local governments to impose discriminatory taxes, fees, or restrictions specifically targeting digital assets.

Supporters describe the legislation as a “Bitcoin rights” framework designed to provide clarity and predictability for residents who hold or transact in crypto.

Under HB 1042, state and local governmental units are prohibited from enacting rules that single out digital asset transactions for special taxation or treatment compared to other forms of payment. The law also reinforces the right of individuals to self-custody digital assets, preventing most public agencies from restricting a person’s ability to hold cryptocurrency in a private wallet.

Regulatory authority remains with the appropriate financial oversight bodies, including the state’s Department of Financial Institutions.

The legislation also opens the door for cryptocurrency exposure within certain state-managed retirement and savings programs. Under HB 1042, plan administrators for designated public retirement and education savings plans will be required to offer a self-directed brokerage option that includes at least one cryptocurrency-linked investment choice, such as a regulated exchange-traded fund tied to bitcoin.

The measure does not mandate that pension funds directly purchase or hold digital assets as part of their core portfolios; instead, it allows individual participants to decide whether to allocate a portion of their retirement savings to crypto through approved investment vehicles.

Backers of the bill have argued that the measure positions Indiana as a pro-innovation state amid growing national debate over crypto regulation. By clearly defining cryptocurrency in statute as a digital medium of exchange secured by cryptography and not issued by a central authority, lawmakers say the state reduces ambiguity for courts, regulators and businesses operating in the space.

The signing follows increasing legislative activity across the United States focused on digital asset rights and taxation.

With HB 1042 now enacted, Indiana joins a small but growing number of states that have codified protections for crypto holders while maintaining oversight through existing financial regulatory frameworks.

Off-price retailer Ross Stores saw “robust” comparable store sales growth in the fourth quarter, crediting the expansion in part to its success in drawing shoppers away from mainstream retailers.

The company’s comparable store sales were up 9% for the quarter ended Jan. 31, on top of a 3% gain during the same period the previous year, and its total sales rose 12%, according to a Tuesday (March 3) earnings release.

Ross Stores CEO Jim Conroy said during a Tuesday earnings call that he believes the largest part of market share came from mainstream retailers. He added that another, larger off-price retailer also posted a solid quarter, so the share didn’t come from them.

“I think the share shift is more from mainstream retail, department stores and other places like that, to off-price in general, and we would just like to get our fair share or, of course, more than our fair share from that shift,” Conroy said.

Ross Stores operates the off-price apparel and home fashion chain Ross Dress for Less and the more moderately priced apparel, accessories, footwear and home fashions chain dd’s DISCOUNTS.

During the fourth quarter, the company saw growth across both businesses, in all merchandise categories and in every region of the country.

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Conroy said new marketing campaigns that started around the back-to-school season contributed to this growth, along with some other changes.

“The change in marketing, some in-store changes and of course the assortments being really great,” Conroy said. “In terms of marketing spend, you put all that together, and it just made for a really good Q3 and Q4.”

Looking ahead, Ross Stores expects to see comparable store sales increase 7% to 8% during the current quarter and 3% to 4% during the full year.

“While early, we are encouraged by the continued strength in the business as the spring season begins,” Ross Stores Chief Financial Officer William Sheehan said during the call.

Because of the strength in both comparable store sales growth and new store productivity, Ross Stores plans to continue expanding its store count in 2026, Conroy said.

The company added 90 new stores in 2025, while closing nine, bringing the total to 2,267 at the end of the fourth quarter.

In 2026, Ross Stores plans to open 110 new stores, representing 5% growth. In the longer term, the company plans to boost its total number of stores to 3,600, Conroy said.

A rival off-price retailer, The TJX Companies, is also adding stores after seeing its merchandise appeal to various income and age demographics. The company said Feb. 25 that during the fiscal year ending Jan. 31, 2027, it plans to add 146 net new stores, increasing its store count by about 3%.

Q4: 2026-03-02 Earnings SummaryEPS of $0.26 misses by $0.27

 |

Revenue of

$213.11M

(14.64% Y/Y)

misses by $6.47M

Propel Holdings Inc. (PRL:CA) Q4 2025 Earnings Call March 3, 2026 8:30 AM EST

Company Participants

Devon Ghelani - Vice President of Capital Markets & Investor Relations
Clive Kinross - Co-Founder, CEO & Director
Sheldon Saidakovsky - Co-Founder & CFO
Noah Buchman - Co-Founder, President & Chief Revenue Officer

Conference Call Participants

Matthew Lee - Canaccord Genuity Corp., Research Division
Stephen Boland - Raymond James Ltd., Research Division
Rob Goff - Ventum Financial Corp., Research Division
Jeffrey Fenwick - ATB Cormark Capital Markets Inc., Research Division
Suthan Sukumar - Stifel Nicolaus Canada Inc., Research Division
Andrew Scutt - ROTH Capital Partners, LLC, Research Division

Presentation

Operator

Good morning, everyone. Welcome to the Propel Holdings Fourth Quarter and Year-End 2025 Financial Results Conference Call. As a reminder, this conference call is being recorded on March 3, 2026. [Operator Instructions] I will now turn the call over to Devon Ghelani, Propel's Vice President, Capital Markets and Investor Relations. Please go ahead, Devon.

Devon Ghelani
Vice President of Capital Markets & Investor Relations

Thank you, operator. Good morning, everyone, and thank you for joining us today. Propel's fourth quarter and year-end 2025 financial results were released yesterday after market close. The press release, financial statements and MD&A are available on SEDAR+ as well as on the company's website, propelholdings.com.

Before we begin, I would like to remind all participants that our statements and comments today may include forward-looking statements within the meaning of applicable securities laws. The risks and considerations regarding forward-looking statements can be found in our Q4 2025 MD&A and annual information form for the year ended December 31, 2025, both of which are available on SEDAR+. Additionally, during the call, we may refer to non-IFRS measures. Participants are advised to review the section entitled Non-IFRS Financial Measures and Industry Metrics in the company's Q4 2025 MD&A for definitions of our non-IFRS measures and the

Sandisk Corporation (SNDK) Presents at Morgan Stanley Technology, Media & Telecom Conference 2026 Transcript