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Jun 30, 2024
BigCommerce Q2 2024 Earnings Report
BigCommerce's Q2 2024 financial results were announced, showing revenue growth and improved profitability.
Key Takeaways
BigCommerce reported Q2 2024 total revenue of $81.8 million, an 8% increase year-over-year. The company's total ARR reached $345.8 million, a 4% increase year-over-year, with enterprise ARR at $253.8 million, up 7% year-over-year. BigCommerce exceeded profitability expectations with operating cash flow of nearly $12 million.
Total revenue increased by 8% year-over-year, reaching $81.8 million.
Total ARR increased by 4% year-over-year, reaching $345.8 million.
Enterprise ARR increased by 7% year-over-year, reaching $253.8 million.
GAAP gross margin was 76%, compared to 75% in the second quarter of 2023.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
For Q3 2024, BigCommerce expects total revenue between $82.0 million and $84.0 million, representing a year-over-year growth rate of 5% to 8%. Non-GAAP operating income is expected to be between $500 thousand and $1.5 million. For the full year 2024, total revenue is projected to be between $330.2 million and $335.2 million, a year-over-year growth rate of 7% to 8%. Non-GAAP operating income is expected to be between $10.7 million and $13.7 million.
Positive Outlook
- Total revenue is expected to grow between 5% and 8% year-over-year for Q3 2024.
- Non-GAAP operating income is expected to be positive for Q3 2024.
- Full year 2024 total revenue is projected to grow between 7% and 8% year-over-year.
- Full year 2024 Non-GAAP operating income is expected to be between $10.7 million and $13.7 million.
- Revenue between $82.0 million to $84.0 million for the third quarter of 2024
Challenges Ahead
- The financial outlook is based on assumptions that are subject to change and outside of the company's control.
- Actual results may vary from these assumptions.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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