BigCommerce Posts Impressive Q1 Results, CEO Anticipates 'Additional Growth Momentum'
Portfolio Pulse from Akanksha Bakshi
BigCommerce Holdings, Inc. (NASDAQ:BIGC) reported a 12% year-over-year revenue growth for Q1 2024, reaching $80.36 million and surpassing consensus estimates. Non-GAAP net income per share was 7 cents, exceeding expectations. The company saw increases in subscription revenue, enterprise accounts, and average revenue per account. Total annual revenue run-rate and ARR from enterprise accounts also grew. Improvements were noted in non-GAAP gross and operating margins, and adjusted EBITDA turned positive. Revenue growth was reported across all regions. The company anticipates further growth from new technologies and product releases. Q2 and full-year 2024 revenue and non-GAAP operating income forecasts were provided. BIGC shares surged 13.53% to $7.60.

May 09, 2024 | 3:57 pm
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POSITIVE IMPACT
BigCommerce reported strong Q1 2024 results with revenue and non-GAAP net income per share exceeding expectations. The company anticipates further growth from new technologies and product releases, positively impacting investor sentiment.
The positive Q1 2024 results and optimistic outlook provided by BigCommerce, including expected growth from new technologies and product releases, are likely to boost investor confidence and support a continued upward trajectory in the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 95
RELEVANCE 100