BigCommerce Holdings Expects Q1 Revenue of $76.0M-$78.0M Vs $80.1M Est, FY24 Revenue of $327.1M-$335.1M Vs $336.34M Est
Portfolio Pulse from Benzinga Newsdesk
BigCommerce Holdings (BIGC) provided its Q1 and full year 2024 financial outlook, expecting Q1 revenue of $76.0M-$78.0M, below the $80.1M estimate, and FY24 revenue of $327.1M-$335.1M, below the $336.34M estimate. The company anticipates a year-over-year growth rate of 6% to 9% for Q1 and 6% to 8% for the full year, with non-GAAP operating income expected to be between $1.0M-$2.0M for Q1 and $8.5M-$12.5M for FY24.
February 22, 2024 | 12:12 pm
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BigCommerce Holdings expects lower-than-estimated revenues for Q1 and FY24, with projected growth rates of 6%-9% for Q1 and 6%-8% for the full year.
The projected revenues for both Q1 and FY24 are below market expectations, which could lead to negative investor sentiment and potentially lower stock prices in the short term. The lower-than-expected revenue forecasts, especially when compared to analyst estimates, often result in a negative reaction in the stock market as they may indicate slower growth or potential challenges in the company's operations or market.
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