BIGCOMMERCE HOLDINGS Reports Second Quarter Earnings Results for FY2023 on August 3, 2023
August 19, 2023
🌥️Earnings Overview
On August 3, 2023, BIGCOMMERCE HOLDINGS ($NASDAQ:BIGC) reported their earnings results for the second quarter of FY2023 ending June 30, 2023. Total revenue for the quarter was USD 75.4 million, representing a 10.6% year-over-year increase, while net income was USD -19.1 million, an improvement over the -39.6 million reported in the same period last year.
Stock Price
Upon the announcement, BIGCOMMERCE HOLDINGS stock opened at $10.0 and closed at $9.5, 5.0% lower than prior closing price of 10.0. Overall, the company’s performance for the second quarter was impressive. They managed to increase both their profits and revenues, despite the current economic conditions. The stock saw a slight correction on the day of the announcement, but considering the company’s strong financial performance, it’s likely that investors will continue to be bullish on BIGCOMMERCE HOLDINGS going forward. 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
At GoodWhale, we recently conducted an analysis of BIGCOMMERCE HOLDINGS‘ overall wellbeing. Our Risk Rating placed BIGCOMMERCE HOLDINGS at a medium risk investment, with a few financial and business aspects that should be taken into consideration. When examining the company’s balance sheet and cashflow statement, our team discovered 2 risk warnings. We invite you to register with us to learn more about these risk warnings and the details of our assessment. At GoodWhale, we are committed to providing comprehensive and insightful analysis so that you can make informed investment decisions. With our advanced technology and highly experienced team, you can rest assured that we are here to help you make the best possible investment decisions. 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
BIGCOMMERCE HOLDINGS second quarter of FY2023 showed a 10.6% year-over-year increase in total revenue, amounting to USD 75.4 million. Net income was reported as a loss of USD -19.1 million, significantly lower than the -39.6 million reported in the same period last year. Despite this, the stock price moved down the day the figures were announced.
This could be because investors were expecting higher than 10.6% growth in revenue, especially considering how the company had been performing prior to the reporting period. Investors may also consider factors such as the current macroeconomic situation, competition, and any other relevant factors before making an investment decision.
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