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Dec 31, 2022
BigCommerce Q4 2022 Earnings Report
BigCommerce's Q4 2022 financial results demonstrated strong progress in profitability and operating cash flow, with revenue growing faster than the broader ecommerce industry.
Key Takeaways
BigCommerce reported Q4 revenue of $72.4 million, a 12% increase year-over-year, and total ARR of $311.7 million, up 16% year-over-year. The company's focus on the enterprise segment and cost structure reduction aims for profitability in Q4 2023.
Total revenue increased by 12% to $72.4 million compared to Q4 2021.
Total ARR reached $311.7 million, a 16% increase compared to the previous year.
Enterprise ARR grew by 30% to $224 million compared to Q4 2021.
GAAP gross margin was 74%, consistent with Q4 2021.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
For Q1 2023, BigCommerce anticipates total revenue between $69.7 million and $72.7 million, with a non-GAAP operating loss between $8.2 million and $12.2 million. For the full year 2023, the company expects total revenue between $301 million and $313 million, and a non-GAAP operating loss between $15.7 million and $22.7 million.
Positive Outlook
- Total revenue is expected to be between $69.7 million to $72.7 million for Q1 2023, implying a year-over-year growth rate of 6% to 10%.
- Full year 2023 total revenue is projected to be between $301 million and $313 million, translating into a year-over-year growth rate of 8% and 12%.
- Focus on reducing cost structure to accelerate path to profitability.
- Launch of Omnichannel Certified Partner (OCP) Program to generate new revenue streams.
- Strategic partnerships with Sage, Snapchat, Microsoft Ads, and WPP to offer comprehensive solutions.
Challenges Ahead
- Non-GAAP operating loss is expected to be between $8.2 million to $12.2 million for Q1 2023.
- Full year 2023 non-GAAP operating loss is projected to be between $15.7 million and $22.7 million.
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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