Bigcommerce Holdings, Inc. - BIGC STOCK NEWS

BigCommerce announces its launch on Google Cloud Marketplace, enabling global enterprise customers to enhance their ecommerce strategies. This partnership allows enterprises to leverage BigCommerce's open SaaS platform for scalable and customizable commerce solutions, prebuilt integrations with Google products, and simplified billing to meet cloud commitments. Additionally, businesses can utilize omnichannel solutions to optimize listings and drive growth. The integration aims to empower merchants with tools tailored to their specific needs while maintaining control over proprietary data.

BigCommerce (Nasdaq: BIGC) released its Global Consumer Report: Current and Future Shopping Trends, revealing significant insights into online shopping behavior. Key findings from the survey of over 4,200 consumers indicate that 55% shop online weekly, with fashion and apparel as the top category. The survey highlights consumer preference for personalized experiences and discounts, especially free shipping. Additionally, 84% value sustainability. Notably, 46% express interest in shopping within the Metaverse, showcasing trends that could redefine future commerce.

BigCommerce (Nasdaq: BIGC) has announced strategic partnerships with BitPay and CoinPayments to integrate cryptocurrency payment solutions for its merchants. This initiative aims to enhance the merchants' competitive edge, enabling them to accept various cryptocurrencies including Bitcoin and Ethereum, and reach a broader global market. The partnerships focus on reducing transaction costs and improving security via blockchain technology, while providing flexibility in payment options. The move comes amid an increasing demand for alternative payment methods worldwide.

BigCommerce (NASDAQ: BIGC) announced the successful launch of The Beer Bat store, achieving a 115% revenue increase, 98% rise in site visits, and 71% growth in orders from April to July 2022. The Beer Bat, created by Green Egg Design, has expanded its customer base from one minor league team to 27 Major League Baseball teams, including the Atlanta Braves and San Diego Padres. BigCommerce's platform facilitated a rapid launch and supports B2B and B2C sales. The Beer Bat utilizes BigCommerce's BundleB2B integration for efficient order management, streamlining operations for their growing international customer base.

BigCommerce has partnered with SheerID to enable its merchants to offer exclusive discounts to key consumer groups, such as students and military personnel. This collaboration aims to enhance sales by tapping into communities representing 70% of the U.S. population aged 18 and over. SheerID’s verification technology allows for instant customer authentication, promising a significant boost in conversion rates and return on ad spend (ROAS). The partnership highlights BigCommerce's commitment to providing advanced tools for merchants to increase sales and customer retention.

BigCommerce has expanded its multi-year partnership with Affirm, enabling merchants to integrate Affirm’s Adaptive Checkout™ for flexible payment options. Customers can choose bi-weekly or monthly payments on purchases between $50 and $17,500. Key benefits include potential increases in average order values by 85% and cart conversion rates by 26%. Merchants will receive full payment upfront, while Affirm manages payment collections. This partnership aims to enhance consumer affordability and boost merchant sales through greater accessibility to payment options.

BigCommerce reported Q2 financial results with total revenue of $68.2 million, a 39% increase year-over-year. Annual recurring revenue (ARR) reached $296.0 million, up 41%. Subscription revenue rose by 51% to $51.3 million. The company achieved a 68% year-over-year growth in enterprise accounts, representing 70% of total ARR. Despite strong revenue growth, GAAP operating loss widened to -$39.1 million, and non-GAAP net loss reached -$14.1 million, indicating ongoing challenges in achieving profitability.