NASDAQ$CMRC
Commerce.com Inc · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
BigCommerce's Q3 2023 performance showed progress toward long-term growth and profitability, exceeding revenue and profitability guidance amidst macroeconomic challenges.
BigCommerce announced its Q3 2023 financial results, reporting a total revenue of $78.0 million, an 8% increase year-over-year, and total ARR of $332.2 million, a 9% increase year-over-year. The company exceeded the midpoint of its guidance for revenue and profitability despite a challenging macroeconomic environment and is restructuring its workforce by approximately 7% to achieve continued strong profit growth in 2024.
- Total revenue increased by 8% year-over-year to $78.0 million.
- Total ARR increased by 9% year-over-year to $332.2 million.
- Enterprise ARR increased by 11% year-over-year to $240.6 million.
- GAAP net loss per share was ($0.27), compared to ($0.41) in the third quarter of 2022.
Headline financials
Revenue & EPS history
BigCommerce · Revenue · Quarterly
$78M
Revenue by segment
BigCommerce · $78M total across 2 segments · Q3 2023
- Subscription solutions$58.7M+10.3%75.2%
- Partner and services$19.3M+0.9%24.8%
Forward guidance
For the fourth quarter of 2023, BigCommerce expects total revenue between $79.8 million and $83.8 million, implying a year-over-year growth rate of 10% to 16%. Non-GAAP operating income is expected to be between $1.1 million and $4.1 million. For the full year 2023, total revenue is expected to be between $305.0 million and $309.0 million, translating into a year-over-year growth rate of 9% and 11%. Non-GAAP operating loss is expected to be between ($6.9) million and ($9.9) million.
Tailwinds
- Total revenue is expected to grow between 10% and 16% year-over-year in Q4 2023.
- Non-GAAP operating income is expected to be positive in Q4 2023, ranging from $1.1 million to $4.1 million.
- Full year 2023 total revenue is projected to grow between 9% and 11% year-over-year.
- The company's Q4 and full year financial outlook is based on several assumptions.
- BigCommerce is a leading open SaaS e-commerce platform.
Headwinds
- The financial outlook is based on assumptions that are subject to change and outside of the company's control.
- There is no assurance that the company will achieve the expected results.
- The company does not provide guidance for operating loss, the most directly comparable GAAP measure to Non-GAAP operating loss.
- The company cannot provide a reconciliation between its forecasted Non-GAAP operating loss and Non-GAAP net loss per share and these comparable GAAP measures without unreasonable effort.
- Certain items impacting the reconciliation are not within the company’s control and may vary greatly between periods.
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 Q3 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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