E-commerce software upstart BigCommerce Q4 results beat, outlook higher, shares rise
Cloud-based e-commercesoftware maker BigCommerce this afternoon reported Q4 revenue and profit that topped analysts' expectations, and an outlook that was higher as well.
The report sent BigCommerce's shares slightly higher in late trading.
CEO Brent Bellm remarked that 2020 had been "a historic year for BigCommerce with our fourth quarter revenue up 39% year-over-year and our ARR increasing 41% year-over-year to $181.2 million."
Added Bellm, "We remain strategically focused on serving the needs of merchants of all sizes, and this past quarter further illustrates our ability to disrupt the mid-market and large enterprise market segments with 51% year over year growth in enterprise account ARR."
Revenue in the three months ended in December rose to $43.1 million, yielding a net loss of 12 cents per share, excluding some costs.
Analysts had been modeling $38.6 million and 14-cent loss per share.
The company noted several metrics indicating success among enterprise customers, including its annualized recurring revenue from accounts having at least one Enterprise plan being $100.8 million, up 51% compared to the prior-year period.
For the current quarter, the company sees revenue of $41.8 million to $42.3 million. That compares to consensus for $39.3 million.
For the full year, the company sees revenue in a range of $189 million to $191 million, versus consensus of $175.7 million.
BigCommerce is one among a slew of young companies offering a new style of e-commerce where merchants go directly to their shoppers. Competitors inlude Shopify and Square.