NASDAQ$CMRC
Commerce.com Inc · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
BigCommerce's Q1 2023 financial results were announced, demonstrating growth in total revenue and ARR despite a challenging macroeconomic environment.
BigCommerce reported a 9% increase in total revenue, reaching $71.8 million, and a 13% increase in total ARR, amounting to $316.7 million. The company's enterprise ARR grew by 21% year-over-year. BigCommerce outperformed its guidance for operating loss improvement and laid a strong foundation for reaching profitability on an adjusted EBITDA basis in the fourth quarter.
- Total revenue increased by 9% year-over-year to $71.8 million.
- Total ARR grew by 13% year-over-year to $316.7 million.
- Enterprise ARR increased by 21% year-over-year to $228.8 million.
- GAAP operating loss improved to ($23.7) million compared to ($36.2) million in the first quarter of 2022.
Headline financials
Revenue & EPS history
BigCommerce · Revenue · Quarterly
$71.8M
Revenue by segment
BigCommerce · $71.8M total across 2 segments · Q1 2023
- Subscription solutions$53.8M+12.1%75.0%
- Partner and services$17.9M-0.6%25.0%
Forward guidance
For Q2 2023, BigCommerce expects total revenue between $72.1 million and $74.1 million, implying a year-over-year growth rate of 6% to 9%. Non-GAAP operating loss is expected to be between $5.5 million and $9.5 million. For the full year 2023, the Company expects total revenue between $303.0 million and $311.0 million, translating into a year-over-year growth rate of 9% and 11%. Non-GAAP operating loss between $14.0 million and $20.0 million.
Tailwinds
- Total revenue between $72.1 million and $74.1 million for Q2 2023, implying a year-over-year growth rate of 6% to 9%.
- Total revenue between $303.0 million and $311.0 million for the full year 2023, translating into a year-over-year growth rate of 9% and 11%.
- Continued customer growth
- Continued product growth
- Continued geographic growth
Headwinds
- Non-GAAP operating loss is expected to be between $5.5 million and $9.5 million for Q2 2023.
- Non-GAAP operating loss between $14.0 million and $20.0 million for the full year 2023.
- The Company’s second quarter and 2023 financial outlook is based on a number of assumptions that are subject to change and many of which are outside the Company’s control.
- If actual results vary from these assumptions, the Company’s expectations may change.
- There can be no assurance that the Company will achieve these results.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2023
-2.4%
Avg return
Earnings day
-2.7%
Avg return
5 days after
-2.9%
Avg return
30 days after
43%
10 / 23 earnings
Positive
+30.4%
Q3 2021
Best reaction
-32.1%
Q3 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +23.3% | -1.0% | -2.1% | |
| Q4 2025 | -10.2% | +6.2% | +0.0% | |
| Q3 2025 | +0.6% | +11.1% | -0.6% | |
| Q1 2025 | +0.6% | +2.5% | +1.2% | |
| Q4 2024 | -6.7% | +2.7% | -10.5% | |
| Q3 2024 | +9.5% | +13.5% | +36.2% | |
| Q2 2024 | -23.8% | -27.4% | -27.7% | |
| Q1 2024 | +13.5% | +17.5% | +19.6% | |
| Q4 2023 | -4.8% | -4.7% | -11.8% | |
| Q3 2023 | -16.3% | -15.3% | -9.4% | |
| Q2 2023 | +20.4% | +9.0% | +8.2% | |
| Q1 2023 | +3.4% | +0.0% | +32.5% | |
| Q4 2022 | -18.9% | -15.6% | -24.4% | |
| Q3 2022 | -32.1% | -39.5% | -29.5% | |
| Q2 2022 | +3.3% | +4.4% | -15.7% | |
| Q1 2022 | +12.7% | +4.8% | +2.2% | |
| Q4 2021 | -13.7% | -17.3% | -12.3% | |
| Q3 2021 | +30.4% | +39.1% | -9.8% | |
| Q2 2021 | -8.7% | -9.9% | -14.3% | |
| Q1 2021 | -10.5% | -2.5% | +24.9% | |
| Q4 2020 | -10.5% | -16.5% | -23.7% | |
| Q3 2020 | -3.8% | -9.7% | -2.8% | |
| Q2 2020 | -12.8% | -14.3% | +2.5% | |
| Q1 2020 | — | — | — | |
| Q4 2019 | — | — | — | |
| Q3 2019 | — | — | — | |
| Q2 2019 | — | — | — | |
| Q1 2019 | — | — | — |
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