Some say BigCommerce needs another revenue stream. Amazon’s cloud computing platform, AWS, The most driving force Shopify Payments, a credit card processor, accounts for 10% of the company’s profits. Nearly two-thirds It accounts for 10% of overall revenue, far more than the platform’s core subscriptions.
But core platform subscriptions account for about 75% of BigCommerce’s revenue, with the rest coming from “partners,” mostly third-party app developers, who share revenue with the company.
Either way, BigCommerce is a pioneer in ecommerce in every respect.
We first met in 2008, when Armando Roggio, a longtime senior contributor, Profile Interspire was then a four-year-old licensed cart provider based in Australia, and the CEO was lamenting the lack of a hosted version of the cart.
By 2010, our Next ProfileA hosted version was up and running; the founders named it BigCommerce.
2013, BigCommerce Attracted attention AOL visionary Steve Case invested $40 million in stock through his Revolution Growth Fund, effectively taking control of the company and appointing a new CEO. Brent Bellm.
In August 2020, BigCommerce went public, raising $216 million on the Nasdaq exchange under the symbol “BIGC.”
Q2 2024 Financials
Following its IPO, BigCommerce’s stock price rose rapidly, reaching $120 in September 2020. It now trades at around $6 and has long been a favorite of short sellers betting on the price. Decreased.
The company has posted a net loss every year since going public, and it expects revenue of $309 million in 2023, just a fraction of Shopify’s $7 million. Billion.
But better days are coming: BigCommerce’s revenue for Q2 2024 was $81.8 million, up 8% from the same period last year, and its net loss steadily decreased to $11.3 million in the second quarter.
Notably, the company has a cash flow positiveThe $11.3 million net loss included non-cash expenses, which when added together equated to positive cash flow for the quarter of almost $12 million.
Investors are noticing: Multiple analysts are now forecasting net profit. Profit For 2024 as a whole, the target price is expected to increase 67% to about $10.
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BigCommerce Overview
Website: BigCommerce
Headquarters: Austin, Texas
Number of employees: Approximately 1,300
Founded: 2004 (Interspire)
Number of live music stores: Approximately 43,000
Number of corporate (large) customers: Approximately 6,000 companies
