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Mar 31, 2024
BigCommerce Q1 2024 Earnings Report
BigCommerce's first quarter results reflected a positive start to the year, marked by revenue growth and significant profit improvement.
Key Takeaways
BigCommerce announced its Q1 2024 financial results, with total revenue reaching $80.4 million, a 12% increase year-over-year. The company also reported a substantial improvement in profitability, with net income increasing by nearly 23 percentage points as a percentage of revenue compared to the previous year.
Total revenue was $80.4 million, up 12% compared to the first quarter of 2023.
Total annual revenue run-rate (ARR) as of March 31, 2024 was $340.1 million, up 7% compared to March 31, 2023.
Subscription revenue was $61.0 million, up 13% compared to the first quarter of 2023.
GAAP net loss per share was ($0.08) based on 76.6 million shares of common stock, compared to ($0.30) based on 74.1 million shares of common stock in the first quarter of 2023.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
For the second quarter of 2024, BigCommerce expects total revenue between $79.8 million and $81.8 million, representing a year-over-year growth rate of 6% to 8%. Non-GAAP operating income is projected to be between $200 thousand and $1.2 million. For the full year 2024, the company anticipates total revenue between $329.7 million and $335.7 million, translating to a year-over-year growth rate of 7% to 9%. Non-GAAP operating income is expected to range between $10.2 million and $14.2 million.
Positive Outlook
- Total revenue between $79.8 million to $81.8 million, implying a year-over-year growth rate of 6% to 8%.
- Non-GAAP operating income is expected to be between $200 thousand to $1.2 million.
- Total revenue between $329.7 million and $335.7 million, translating into a year-over-year growth rate of 7% and 9%.
- Non-GAAP operating income between $10.2 million and $14.2 million.
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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