BIGCOMMERCE HOLDINGS Reports Impressive FY2023 Q2 Earnings Results for June 30, 2023
August 16, 2023
☀️Earnings Overview
On August 3, 2023, BIGCOMMERCE HOLDINGS ($NASDAQ:BIGC) reported their FY2023 Q2 earnings results, which concluded on June 30, 2023. They achieved a total revenue of USD 75.4 million, a 10.6% rise from the corresponding period of the previous year. Additionally, their net income was -19.1 million, a considerable improvement from the -39.6 million reported in the same quarter of the year before.
Market Price
BIGCOMMERCE HOLDINGS reported its impressive FY2023 Q2 Earnings Results for June 30, 2023 on Thursday. The company’s stock opened at $10.0 and closed at $9.5, down by 5.0% from its last closing price of 10.0. Analysts were quick to point out that the company’s strong financial performance in its second quarter was driven by impressive results in the areas of revenue, operating income and net income, which all increased year-on-year. The company’s success is largely attributed to its strong focus on customer service and innovation. BIGCOMMERCE HOLDINGS has been successful in leveraging new technology and expanding its customer base to deliver value to its consumers.
Moreover, the company has been able to keep its operational costs under control despite the challenging macroeconomic conditions. Overall, the Q2 results demonstrate BIGCOMMERCE HOLDINGS’s ability to effectively manage its business and generate sustainable long-term value for its shareholders. Going forward, the company’s management remains confident that it will be able to maintain its strong financial performance and continue to generate returns for its investors. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Bigcommerce Holdings. More…
| Total Revenues | Net Income | Net Margin |
| 292.02 | -104.46 | -30.4% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Bigcommerce Holdings. More…
| Operations | Investing | Financing |
| -59.59 | -88.07 | 1.41 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Bigcommerce Holdings. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 467.5 | 440.58 | 0.36 |
Key Ratios Snapshot
Some of the financial key ratios for Bigcommerce Holdings are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 31.4% | – | -34.9% |
| FCF Margin | ROE | ROA |
| -21.7% | -207.5% | -13.6% |
Analysis
GoodWhale recently conducted an analysis of BIGCOMMERCE HOLDINGS, using our Star Chart. The analysis revealed that the company is strong in growth, medium in asset and weak in dividend, profitability. As a result, BIGCOMMERCE HOLDINGS is classified as a ‘cheetah’, a type of company that has achieved high revenue or earnings growth but is considered less stable due to lower profitability. This type of company may be of interest to investors who are looking for potential growth opportunities. However, BIGCOMMERCE HOLDINGS has a low health score of 2/10 with regard to its cashflows and debt, which means that it is less likely to sustain future operations in times of crisis. As such, investors should consider the potential risks before investing in the company. More…
Peers
The company was founded in 2009 and is headquartered in Austin, Texas. BigCommerce has over 60,000 customers in more than 150 countries. The company’s main competitors are Vtex, Shopify Inc, and Riskified Ltd.
– Vtex ($NYSE:VTEX)
Vtex is a Brazilian e-commerce company. It has a market cap of 707.18M as of 2022 and a Return on Equity of -14.37%. The company allows businesses to create online stores and sell their products and services online. Vtex also offers a range of other services, such as payment processing, shipping, and customer support.
– Shopify Inc ($TSX:SHOP)
Shopify Inc is a Canadian multinational e-commerce company headquartered in Ottawa, Ontario. It is also the name of its proprietary e-commerce platform for online stores and retail point-of-sale systems. Shopify offers online retailers a suite of services “including payments, marketing, shipping and customer engagement” tools to simplify the process of running an online store for business owners who are non-tech savvy. Shopify was founded in 2004 by Tobias Lütke, Daniel Weinand, and Scott Lake.
– Riskified Ltd ($NYSE:RSKD)
Riskified Ltd is an e-commerce fraud prevention company. The company uses machine learning and artificial intelligence to identify and prevent fraud for online businesses. The company has a market cap of 671.89M as of 2022 and a Return on Equity of -14.29%.
Summary
Investors analyzing the Q2 2023 earnings report of BIGCOMMERCE HOLDINGS may be encouraged by the 10.6% year-over-year revenue growth, which exceeded the market’s expectations.
However, the reported net income of -19.1 million suggests that the company has yet to reach profitability. This is despite the improvement from -39.6 million in FY2022 Q2. As a result, the stock price saw a significant dip on August 3. Investors may want to monitor the company’s performance in the coming quarters while considering the long-term potential of the business.
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