BigCommerce Holdings, Inc. Series 1 - BIGC STOCK NEWS

BigCommerce Holdings plans to restructure its operations to accelerate its path to profitability, aiming for adjusted EBITDA breakeven in Q4 2023, ahead of the previous timeline of mid-2024. The company will reduce its workforce by approximately 13% and cut non-enterprise sales and marketing expenditures. The total estimated cost for the workforce reduction is around $4.2 million to $4.6 million. Additionally, BigCommerce is reevaluating its facility needs, estimating potential impairments between $2.0 million and $3.2 million.

BigCommerce (NASDAQ: BIGC) has announced its partnership with Sage to integrate its ecommerce platform with Sage 100 ERP software, becoming one of the first enterprise-focused platforms on Sage’s North American Marketplace. This integration allows businesses to modernize their online storefronts, improving operational efficiency and providing real-time updates for orders and customer data. The partnership aims to deliver significant benefits to Sage 100 customers, enabling better customer experiences and streamlined ecommerce operations.

BigCommerce (NASDAQ: BIGC) announces the launch of StagingPro, a tech integration for enterprise merchants, enhancing the staging and deployment process. StagingPro enables teams to rapidly develop and deploy multiple store builds from a single dashboard, minimizing risks. Key features include:

• Accelerated Production-to-Market Cycles for efficient project management.
• Secure Replicas for risk-free testing and deployment.
• Seamless Integration with tools like GitHub and Atlassian Jira.

StagingPro is currently available in the US, UK, and ANZ.

BigCommerce (NASDAQ: BIGC) reported a significant 32% increase in gross merchandise value (GMV) during Cyber Week 2022 compared to 2021. The successful five-day period also saw total orders rise by 25%. Black Friday and Cyber Monday were the peak sales days, with GMV up 31% and 32% respectively. Mobile sales decreased slightly to 38% of total orders, while alternative payment methods like buy now, pay later saw a notable increase of 25%. BigCommerce achieved 100% uptime during Cyber Week for the ninth consecutive year.

BigCommerce reported strong sales performance during the Thanksgiving and Black Friday shopping days. On Black Friday, the gross merchandise value (GMV) for BigCommerce merchants increased by 31%, with a 25% rise in total orders and a 4.5% boost in average order value (AOV) compared to 2021. Similarly, Thanksgiving sales rose by 23% in GMV and 22% in total orders. This growth outpaced overall retail sales growth, which was only up 1.4% on Black Friday and 2.9% on Thanksgiving. BigCommerce merchants are significantly benefiting from the current retail landscape.

BigCommerce, a prominent Open SaaS ecommerce platform (Nasdaq: BIGC), announced that Daniel Lentz, SVP of Finance and Investor Relations, will present at the Raymond James Technology Investors Conference on December 6, 2022, at 1:40 p.m. ET. The live presentation will be available on BigCommerce's investor relations website, with a replay accessible afterward. BigCommerce empowers B2C and B2B brands globally, offering a user-friendly platform for businesses of all sizes to create engaging online stores.

BigCommerce reported Q3 2022 total revenue of $72.4 million, up 22% year-over-year, with an annual recurring revenue (ARR) of $305.3 million, reflecting a 20% increase. Subscription revenue rose 26% to $53.2 million. However, the company incurred a GAAP net loss of $30.3 million. Operating loss was $30.6 million, compared to $21.3 million in Q3 2021. BigCommerce anticipates Q4 revenue between $72.4 million and $74.2 million, implying 12% to 14% organic growth.

BigCommerce has launched a new integration with Snapchat, enabling merchants to create and manage ad campaigns directly from its platform. This integration allows merchants to sync product catalogs and access Snapchat's audience of 363 million daily active users. The tool aims to enhance customer reach and optimize ad performance, helping businesses scale effectively. The app is available through the BigCommerce Channel Manager and is designed to attract a younger audience, ultimately driving revenue growth.

BigCommerce announced that Jimmy Brings, a leading alcohol delivery service in Australia, has launched a progressive web app (PWA) storefront using BigCommerce’s headless architecture. This new platform enhances customer experience by minimizing disruptions and improving navigation. It integrates advanced technologies, such as Algolia for product rendering and Talon.one for promotion management. BigCommerce aims to strengthen its market position by supporting the evolution of businesses like Jimmy Brings.