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Sep 30, 2022
BigCommerce Q3 2022 Earnings Report
BigCommerce's Q3 2022 financial results were announced, revealing a revenue increase of 22% compared to the prior year and a total ARR increase of 20% versus the prior year.
Key Takeaways
BigCommerce reported a 22% increase in total revenue, reaching $72.4 million, and a 20% increase in total ARR, reaching $305.3 million. Subscription revenue grew by 26%, and Enterprise Account ARR increased by 35%. The company continued its international expansion and launched new enterprise product capabilities.
Total revenue was $72.4 million, up 22% compared to the third quarter of 2021.
Total ARR was $305.3 million, up 20% compared to September 30, 2021.
Subscription revenue was $53.2 million, up 26% compared to the third quarter of 2021.
ARR from Enterprise Accounts was $216.2 million, up 35% from September 30, 2021.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
For the fourth quarter of 2022, BigCommerce expects total revenue between $72.4 million to $74.2 million, implying an organic year-over-year growth rate of 12% to 14%. Non-GAAP operating loss is expected to be between $12.3 million to $14.3 million. For the full year 2022, the Company currently expects: Total revenue between $279.1 million and $280.9 million, translating into a year-over-year growth rate of 27% and 28%. Non-GAAP operating loss between $49.9 million and $51.9 million.
Positive Outlook
- Total revenue between $72.4 million to $74.2 million for Q4 2022.
- Organic year-over-year growth rate of 12% to 14% for Q4 2022.
- Total revenue between $279.1 million and $280.9 million for full year 2022.
- Year-over-year growth rate of 27% and 28% for full year 2022.
- Continued international expansion with the addition of Austria, Denmark, Norway and Sweden.
Challenges Ahead
- Non-GAAP operating loss is expected to be between $12.3 million to $14.3 million for Q4 2022.
- Non-GAAP operating loss between $49.9 million and $51.9 million for full year 2022.
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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