BigCommerce Holdings Inc. (NASDAQ: (BIGC) stock gained by 28.27% at last close whereas the BIGC stock price declined by 0.94% in the after-hours trading session. BigCommerce is a prominent software-as-a-service (SaaS) eCommerce platform that enables merchants of all sizes to start, develop, and innovate their companies online.
BIGC stock’ Financial Highlights
BigCommerce announced its financial results for the third quarter of 2021. Here’s are the highlights:
- In the third quarter of 2021, total sales were $59.3 million, up 49% from the previous year’s same quarter.
- As of September 30, 2021, the total annual revenue run rate (ARR) was $253.5 million, up 52 percent from September 30, 2020.
- Subscription revenue increased by 59 percent from the third quarter of 2020 to $42.1 million.
- The GAAP gross margin was 79 percent in the third quarter of 2021, compared to 78 percent the previous year.
- For the third quarter of 2021, the non-GAAP gross margin was 80%, up from 79 percent in the third quarter of 2020.
Brent Bellm, CEO at BigCommerce stated,
BigCommerce had a record-breaking third quarter in many ways, including their highest-ever year-over-year sales growth rate as a public company of 49 percent. The performance of their Open SaaS platform in providing services to the ever-larger business customers, B2B, and headless use cases, and new European markets is reflected in this tremendous growth. The purchase of Feedonomics, which offers BigCommerce merchants with effective business capabilities in omnichannel marketing and promoting across 100+ global marketplaces, search engines, social networks, and ad platforms, is also included in their financial results.
Future Outlook
- For the fourth quarter of 2021, the revenue is expected to be between $61.3 million and $61.7 million, this is a y-o-y increase of 42% and 43%.
- For the full year 2021, the revenue is estimated at around $216.2 million and $216.6 million, an increase of 42% in y-o-y growth.
- The Non-GAAP operating loss for the fourth quarter of 2021 is anticipated to be between $8.0 million and $9.2 million.
- The Non-GAAP operating loss for the full year 2021 is expected to be around $19.2 million and $20.4 million.
