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Mar 31, 2021
BigCommerce Q1 2021 Earnings Report
BigCommerce's financial performance accelerated, with revenue and ARR growth highlighting the company's strategic differentiation and merchant growth.
Key Takeaways
BigCommerce reported a strong first quarter with total revenue of $46.7 million, a 41% increase year-over-year, and total ARR of $196.3 million, a 43% increase year-over-year. The company also saw growth in Enterprise accounts and accounts with ACV greater than $2,000.
Total revenue increased by 41% compared to the first quarter of 2020, reaching $46.7 million.
Total ARR reached $196.3 million, up 43% compared to the previous year.
ARR from Enterprise accounts increased by 58% year-over-year, reaching $112.4 million.
The company launched Buy Online, Pick Up In-Store (BOPIS) capabilities, Promotions Manager, a Payment Provider SDK, and native integration with Square Point of Sale (POS).
Revenue by Segment
Forward Guidance
For Q2 2021, BigCommerce expects total revenue between $46.4 million and $46.9 million, and a non-GAAP operating loss between ($8.1) million and ($8.6) million. For the full year 2021, the company expects total revenue between $196.7 million and $198.2 million, and a non-GAAP operating loss between ($31.0) million and ($32.5) million.
Positive Outlook
- Expected total revenue between $46.4 million and $46.9 million for Q2 2021.
- Expected total revenue between $196.7 million and $198.2 million for the full year 2021.
- Continued investment and innovation in building the Open SaaS ecommerce platform.
- Addition of key strategic partnerships to expand its technology ecosystem.
- Launch of Control Panel and Self-Service tools in new languages to support international expansion.
Challenges Ahead
- Expected non-GAAP operating loss between ($8.1) million and ($8.6) million for Q2 2021.
- Expected non-GAAP operating loss between ($31.0) million and ($32.5) million for the full year 2021.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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