Bigcommerce Holdings, Inc. Stock Price, News & Analysis

Balance has been named a BigCommerce Certified Technology Partner, enabling tens of thousands of BigCommerce merchants to access digital B2B payment solutions. This integration, available from today, allows merchants to offer streamlined self-service payment options through the BigCommerce App Marketplace. According to a Balance survey, 53% of B2B customers would switch ecommerce sites due to slow payment approvals, emphasizing the need for efficient payment solutions. Additionally, Balance reports that alternative payment options can double average order sizes and reduce overhead costs by 85%.

BigCommerce Holdings (Nasdaq: BIGC) is set to report its fourth quarter and fiscal year 2022 financial results on February 23, 2023, after market close. A conference call is scheduled for 5:00 p.m. ET that same day, where the company's financial performance and business highlights will be discussed. Investors can join the call by dialing specified numbers or access the live webcast through BigCommerce’s investor relations website. Following the call, a replay will be available until March 2, 2023. BigCommerce is recognized as a leading Open SaaS ecommerce platform, serving B2C and B2B brands worldwide.

BigCommerce (Nasdaq: BIGC) announces the return of Mark Adams as senior vice president and general manager for EMEA, aiming for enhanced enterprise growth and profitability.

Previously, Adams led BigCommerce's European market entry from 2018 to 2020, achieving 31% year-over-year revenue growth in EMEA as of Q3 2022. Under his leadership, BigCommerce seeks to expand its customer and agency partner footprint across Europe, leveraging his extensive ecommerce experience.

He succeeds Jim Herbert, who led significant regional expansion. The leadership transition comes during a time of growth and increased ecommerce demand.

BigCommerce announced the launch of MKM Building Supplies' new online storefront, leveraging its headless technology for improved scalability and customer experiences. The transition from a legacy platform to BigCommerce has yielded enhanced ecommerce metrics and increased store visits. Issues such as slow page loads and high ownership costs were overcome, enabling MKM to manage numerous product SKUs and personalize user experiences for B2B and B2C customers. Collaborating with Brave Bison and Vue Storefront, the new site exemplifies successful composable commerce implementation.

ESW has been named a BigCommerce Preferred Technology Partner, providing access to its direct-to-consumer ecommerce solutions for BigCommerce merchants. This partnership enables BigCommerce clients to integrate ESW’s services easily via the BigCommerce App Marketplace, targeting over 200 global markets. ESW aims to support brands in expanding their customer base and enhancing revenue with localized ecommerce solutions. The collaboration is expected to improve merchants' customer experiences while maintaining control over their data and online presence.

BigCommerce announces the launch of its Omnichannel Certified Partner (OCP) Program, aimed at helping ecommerce merchants enhance revenue through strategic partnerships. The program, which has attracted over 100 partners, includes the Omnichannel Certified Agency and Technology Partner Programs. Key benefits for partners include access to exclusive programs, consultations, and tools for optimizing product listings. Successful implementations have led to notable revenue growth for participants like Badgley Mischka. The initiative positions BigCommerce as a leader in omnichannel solutions.

BigCommerce has launched a self-service integration for U.S. merchants to utilize Buy with Prime, becoming the first ecommerce provider to do so. This app, developed in collaboration with Amazon, is expected to increase conversion rates by an average of 25%. It allows merchants to offer Prime shopping benefits, fast, free shipping, and an easy checkout experience without coding. The app aims to drive higher customer lifetime value and strengthen merchant relationships with shoppers. The launch is planned for Q1 2023.

BigCommerce has partnered with Microsoft Advertising to launch Microsoft Ads and Listings in the BigCommerce Marketplace. This new integration allows BigCommerce merchants in the US, UK, and ANZ to advertise their products to millions of potential customers across the Microsoft Advertising Network, including Microsoft Bing and Edge. Eligible merchants spending at least $250 on ads will receive $500 in free advertising credits. The platform offers tools for managing ad campaigns and optimizing performance in real-time.

BigCommerce Holdings plans to restructure its operations to accelerate its path to profitability, aiming for adjusted EBITDA breakeven in Q4 2023, ahead of the previous timeline of mid-2024. The company will reduce its workforce by approximately 13% and cut non-enterprise sales and marketing expenditures. The total estimated cost for the workforce reduction is around $4.2 million to $4.6 million. Additionally, BigCommerce is reevaluating its facility needs, estimating potential impairments between $2.0 million and $3.2 million.