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Mar 31, 2023
BigCommerce Q1 2023 Earnings Report
BigCommerce's Q1 2023 financial results were announced, demonstrating growth in total revenue and ARR despite a challenging macroeconomic environment.
Key Takeaways
BigCommerce reported a 9% increase in total revenue, reaching $71.8 million, and a 13% increase in total ARR, amounting to $316.7 million. The company's enterprise ARR grew by 21% year-over-year. BigCommerce outperformed its guidance for operating loss improvement and laid a strong foundation for reaching profitability on an adjusted EBITDA basis in the fourth quarter.
Total revenue increased by 9% year-over-year to $71.8 million.
Total ARR grew by 13% year-over-year to $316.7 million.
Enterprise ARR increased by 21% year-over-year to $228.8 million.
GAAP operating loss improved to ($23.7) million compared to ($36.2) million in the first quarter of 2022.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
For Q2 2023, BigCommerce expects total revenue between $72.1 million and $74.1 million, implying a year-over-year growth rate of 6% to 9%. Non-GAAP operating loss is expected to be between $5.5 million and $9.5 million. For the full year 2023, the Company expects total revenue between $303.0 million and $311.0 million, translating into a year-over-year growth rate of 9% and 11%. Non-GAAP operating loss between $14.0 million and $20.0 million.
Positive Outlook
- Total revenue between $72.1 million and $74.1 million for Q2 2023, implying a year-over-year growth rate of 6% to 9%.
- Total revenue between $303.0 million and $311.0 million for the full year 2023, translating into a year-over-year growth rate of 9% and 11%.
- Continued customer growth
- Continued product growth
- Continued geographic growth
Challenges Ahead
- Non-GAAP operating loss is expected to be between $5.5 million and $9.5 million for Q2 2023.
- Non-GAAP operating loss between $14.0 million and $20.0 million for the full year 2023.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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