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ChannelAdvisor Corporation (NYSE: ECOM) reported third quarter 2022 revenue of $43.5 million, matching guidance but impacted by foreign currency fluctuations. Without these effects, revenue could have reached $44.2 million, surpassing expectations. Subscription revenue rose 7% year-over-year, while brands revenue grew 10%. The company has a cash reserve of $88.1 million and a non-GAAP adjusted EBITDA of $10.1 million, representing a 23% margin. Additionally, ChannelAdvisor is in a merger agreement with CommerceHub, offering stockholders $23.10 per share, a 57% premium.
ChannelAdvisor (NYSE: ECOM) has announced new integrations to enhance its e-commerce platform, now supporting over 360 marketplaces and retail sites worldwide. This includes the addition of 20 new channels, enabling brands to expand their reach and meet consumer demand. Notable new integrations include Michaels in Arts & Crafts and AutoParts4Less in Automotive. ChannelAdvisor has also enhanced its advertising reach in Europe by integrating with the Criteo Retail Media API, allowing brands to target high-intent shoppers effectively.
ChannelAdvisor (NYSE: ECOM) has been recognized as a finalist in two categories of the Google Premier Partner Awards: Brand Awareness and Online Sales. This acknowledgment marks the third time the company has been a finalist, highlighting its commitment to enhancing its customers' campaign effectiveness using Google Ads. The awards celebrate the top digital marketing agencies, with winners to be announced on October 28 in New York City. ChannelAdvisor continues to help brands and retailers boost online sales and improve customer acquisition through its e-commerce solutions.
CommerceHub has announced its acquisition of ChannelAdvisor for $23.10 per share in cash, offering a significant 57% premium over ChannelAdvisor's stock price prior to the announcement. The deal has been approved by both companies' boards and is expected to close in 2022. This acquisition aims to enhance capabilities for brands and retailers, allowing them to unify their marketplace management. With over 18,000 customers and transacting more than $50 billion in gross merchandise value, this merger strengthens the network for both parties, improving efficiency and market access.
ChannelAdvisor Corporation (NYSE: ECOM) has achieved advanced partner status in the Amazon Ads Partner Network, recognizing its growth delivery for advertising clients. This status highlights ChannelAdvisor’s commitment to enhancing visibility and sales for brands on Amazon through various advertising opportunities, including automation and expert support. The company has been working with Amazon Ads since the Partner Network's launch last year. With over two decades in commerce solutions, ChannelAdvisor aims to optimize online performance for thousands of retailers globally.
ChannelAdvisor Corporation (NYSE: ECOM) has announced its integration with Shopee, the leading e-commerce platform in Southeast Asia and Taiwan. This partnership enables ChannelAdvisor's customers to expand their multichannel commerce strategies into new markets in the Asia Pacific region. The integration offers features such as transforming product data for specific channels, optimizing content, synchronizing inventory, consolidating orders, and utilizing advanced analytics for identifying growth opportunities. This move is expected to enhance visibility and sales for brands and retailers in Southeast Asia.
ChannelAdvisor Corporation (NYSE: ECOM) reported a strong Q2 2022, with total revenue of $42.8 million, surpassing guidance. Key highlights include a 20% year-over-year increase in brands revenue and a 27% rise in brands subscription revenue. Adjusted EBITDA reached $8.4 million, exceeding expectations, while free cash flow totaled $10.6 million. The company repurchased $25 million in common stock, retiring about 6% of shares outstanding. Despite macroeconomic challenges, ChannelAdvisor remains optimistic, citing a solid balance sheet and continuing product innovation.
ChannelAdvisor Corporation (NYSE: ECOM) has appointed Darren Fifield as Managing Director for the APAC region. With over 30 years of experience, including roles at aCommerce and Liveclicker, Fifield will focus on regional strategy, client relationships, and expanding customer growth. Chief Revenue Officer Paul Colucci emphasized the importance of his leadership in seizing growth opportunities in the Asia-Pacific market. Fifield expressed enthusiasm for implementing strategies to enhance success for customers and partners.
