Bigcommerce Holdings, Inc. Stock Price, News & Analysis

BigCommerce (Nasdaq: BIGC) has announced strategic partnerships with BitPay and CoinPayments to integrate cryptocurrency payment solutions for its merchants. This initiative aims to enhance the merchants' competitive edge, enabling them to accept various cryptocurrencies including Bitcoin and Ethereum, and reach a broader global market. The partnerships focus on reducing transaction costs and improving security via blockchain technology, while providing flexibility in payment options. The move comes amid an increasing demand for alternative payment methods worldwide.

BigCommerce (NASDAQ: BIGC) announced the successful launch of The Beer Bat store, achieving a 115% revenue increase, 98% rise in site visits, and 71% growth in orders from April to July 2022. The Beer Bat, created by Green Egg Design, has expanded its customer base from one minor league team to 27 Major League Baseball teams, including the Atlanta Braves and San Diego Padres. BigCommerce's platform facilitated a rapid launch and supports B2B and B2C sales. The Beer Bat utilizes BigCommerce's BundleB2B integration for efficient order management, streamlining operations for their growing international customer base.

BigCommerce has partnered with SheerID to enable its merchants to offer exclusive discounts to key consumer groups, such as students and military personnel. This collaboration aims to enhance sales by tapping into communities representing 70% of the U.S. population aged 18 and over. SheerID’s verification technology allows for instant customer authentication, promising a significant boost in conversion rates and return on ad spend (ROAS). The partnership highlights BigCommerce's commitment to providing advanced tools for merchants to increase sales and customer retention.

BigCommerce has expanded its multi-year partnership with Affirm, enabling merchants to integrate Affirm’s Adaptive Checkout™ for flexible payment options. Customers can choose bi-weekly or monthly payments on purchases between $50 and $17,500. Key benefits include potential increases in average order values by 85% and cart conversion rates by 26%. Merchants will receive full payment upfront, while Affirm manages payment collections. This partnership aims to enhance consumer affordability and boost merchant sales through greater accessibility to payment options.

BigCommerce reported Q2 financial results with total revenue of $68.2 million, a 39% increase year-over-year. Annual recurring revenue (ARR) reached $296.0 million, up 41%. Subscription revenue rose by 51% to $51.3 million. The company achieved a 68% year-over-year growth in enterprise accounts, representing 70% of total ARR. Despite strong revenue growth, GAAP operating loss widened to -$39.1 million, and non-GAAP net loss reached -$14.1 million, indicating ongoing challenges in achieving profitability.

BigCommerce Holdings (Nasdaq: BIGC) is set to present at key investor conferences. CFO Robert Alvarez and SVP Finance Daniel Lentz will showcase insights at the KeyBanc Capital Markets Technology Leadership Forum on August 8, 2022, and the Canaccord Genuity Growth Conference on August 11, 2022. Additionally, CEO Brent Bellm and Lentz will present at the Goldman Sachs Communacopia + Technology Conference on September 12, 2022. Live webcasts will be available on the BigCommerce investor relations website, with replays accessible afterward.

BigCommerce (Nasdaq: BIGC) has appointed Sally Gilligan, Chief Growth Transformation Officer at Gap Inc., and Satish Malhotra, CEO of The Container Store, to its Board of Directors. Their extensive experience in ecommerce and retail is expected to drive innovation and support BigCommerce's global expansion efforts. Gilligan's background in corporate development and technology complements Malhotra's achievements in digital commerce and sales channel growth. They replace departing board members Steve Murray and Jack McDonald, who contributed significantly to the company's early public years.