Bigcommerce Holdings, Inc. - BIGC STOCK NEWS

BigCommerce (Nasdaq: BIGC) announced a follow-on public offering of its Series 1 common stock, aiming to sell up to 1,000,000 shares, while selling stockholders look to offload up to 4,000,000 shares. The offering includes an option for underwriters to purchase an additional 750,000 shares. Notably, the company will not receive proceeds from the selling stockholders. The lock-up restrictions on certain shares held by officers and directors are being lifted in conjunction with this offering, with new 90-day lock-up agreements established. J.P. Morgan and Barclays are the lead managers for this offering.

BigCommerce (Nasdaq: BIGC) has joined the MACH Alliance, a coalition promoting open technology ecosystems for enterprise ecommerce solutions. This participation aligns with BigCommerce's strategy to offer a flexible and scalable platform through composable architectures. The company aims to enhance the development and adoption of microservices-based, API-first technologies. With a commitment to future-proof digital commerce, BigCommerce continues to empower merchants with headless deployments and extensive integrations, fostering a better IT architecture.

BigCommerce reported a strong third quarter for 2020, with total revenue reaching $39.7 million, a 41% increase year-over-year. Total ARR rose to $167.0 million, up 38% compared to the previous year. The GAAP net loss improved to ($10.9 million), reflecting a better net loss percentage of 27% of total revenue. The company expects Q4 revenue between $38.3 million and $38.7 million and a full-year revenue of $147.5 million to $147.9 million. Cash reserves totaled $178.8 million as of September 30, 2020.

BigCommerce (Nasdaq: BIGC) has launched Channel Manager, a feature enabling merchants to manage their omnichannel sales more efficiently. It integrates with various marketplaces, expanding merchants' reach to 100 million active users through partnerships like Wish. Channel Manager simplifies channel management, enhances shopping experiences, and allows for 2-day delivery via Deliverr. This modernized tool aims to streamline operations for BigCommerce sellers, making it easier to connect with shoppers across multiple platforms.

BigCommerce (Nasdaq: BIGC) announced the winners of the 2020 Partner Awards at its Flagship Partner Summit, recognizing top partners among its global network to honor their contributions. Categories included Agency Partner of the Year and Tech Partner of the Year, with winners from the Americas, APAC, and EMEA regions. This year’s awards emphasize BigCommerce's partner-first philosophy and feature a total of 17 categories aimed at enhancing merchant growth and innovation.

BigCommerce Holdings (Nasdaq: BIGC) will report its third-quarter financial results for the period ending September 30, 2020, on November 5, 2020, after market close. A conference call is scheduled for 4:00 p.m. CT (5:00 p.m. ET) on the same day to discuss the results and business highlights. The call can be accessed via phone or a webcast on BigCommerce's investor relations site. The company is a leading ecommerce platform serving tens of thousands of businesses worldwide.

BigCommerce, a leading SaaS ecommerce platform, announced that CEO Brent Bellm and CFO Robert Alvarez will present at the Jefferies Software Virtual Conference on September 15, 2020, at 10:00 a.m. Pacific Time. The event will be accessible via a live webcast on BigCommerce's investor relations website. Following the presentation, a replay will be available. BigCommerce provides powerful ecommerce solutions for businesses of all sizes, serving clients like Ben & Jerry’s and Sony from its headquarters in Austin and offices in San Francisco, Sydney, and London.

BigCommerce Holdings reported a 33% year-over-year increase in total revenue for Q2 2020, reaching $36.3 million, and a total annual recurring revenue (ARR) of $151.8 million, up 32%.

Despite a GAAP net loss of $8.5 million, showing improvement from $11.0 million the previous year, the company reported an Adjusted EBITDA of ($5.4 million), better than the prior year's ($9.3 million). Future outlook includes Q3 revenue guidance of $35.9-$36.3 million.

BigCommerce Holdings, Inc. (Nasdaq: BIGC) will report its Q2 financial results for the period ending June 30, 2020, after market close on September 9, 2020. A conference call to discuss these results is scheduled for the same day at 4:00 p.m. CT. Interested parties can access the call via telephone or a live webcast from BigCommerce’s investor relations website. This announcement highlights the company's ongoing commitment to transparency with its investors and stakeholders.