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Jun 30, 2023
BigCommerce Q2 2023 Earnings Report
BigCommerce's Q2 2023 financial results were announced, featuring revenue growth and advancements in profitability.
Key Takeaways
BigCommerce announced its Q2 2023 financial results, reporting a total revenue of $75.4 million, an 11% increase year-over-year, and total ARR of $331.1 million, a 12% increase year-over-year. The company reached adjusted EBITDA profitability in June and delivered positive free cash flow for the full quarter for the first time.
Total revenue increased by 11% year-over-year to $75.4 million.
Total ARR increased by 12% year-over-year to $331.1 million.
Enterprise ARR increased by 14% year-over-year to $236.4 million.
The company achieved profitability on an adjusted EBITDA basis in June and delivered positive free cash flow for the first time.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
For Q3 2023, BigCommerce expects total revenue between $76.3 million and $79.3 million, implying a year-over-year growth rate of 5% to 10%. Non-GAAP operating loss is expected to be between $1.0 million to $5.0 million. For the full year 2023, the company expects total revenue between $304.0 million and $310.0 million, translating into a year-over-year growth rate of 9% and 11%. Non-GAAP operating loss between $10.2 million and $15.2 million.
Positive Outlook
- Total revenue between $76.3 million to $79.3 million is expected for Q3 2023.
- Year-over-year growth rate of 5% to 10% is implied for Q3 2023.
- Total revenue between $304.0 million and $310.0 million is expected for the full year 2023.
- Year-over-year growth rate of 9% and 11% is expected for the full year 2023.
- Continued focus on innovation and customer success to drive growth.
Challenges Ahead
- Non-GAAP operating loss is expected to be between $1.0 million to $5.0 million for Q3 2023.
- Non-GAAP operating loss between $10.2 million and $15.2 million is expected 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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