Bigcommerce Holdings, Inc. Stock Price, News & Analysis

BigCommerce Holdings announced the full exercise of the underwriters' option to purchase an additional 750,000 shares of its Series 1 common stock at $68.00 per share. This follows their previously announced follow-on public offering, with no proceeds going to the company from this transaction. The offering's initial closing was on November 17, 2020, and the registration statement was declared effective on November 12, 2020. J.P. Morgan and Barclays acted as lead managers for this offering.

TaxCloud has announced a new integration partnership with BigCommerce, facilitating online retailers' sales tax compliance. The TaxCloud app provides real-time U.S. sales tax calculations and simplifies the management of sales tax obligations during checkout. This integration responds to the increasing need for sales tax collection due to the Supreme Court's ruling in South Dakota v. Wayfair. TaxCloud, a leading sales tax compliance provider, aims to support merchants in navigating the evolving sales tax landscape.

BigCommerce (Nasdaq: BIGC) has launched Open Checkout, an open-source extension of its eCommerce platform's native checkout feature. This initiative empowers merchants to create tailored checkout experiences, addressing the 88% cart abandonment rate reported by Statista in March 2020. Open Checkout's public source code enables brands to customize every aspect of their checkout pages while maintaining speed and security through BigCommerce's SaaS model. Developed in React, this feature supports various use cases, such as branded checkout pages and modernized B2B buying, enhancing user experiences for businesses of all sizes.

BigCommerce announced the pricing of its follow-on public offering of 1,000,000 shares of Series 1 common stock at $68.00 per share. Additionally, selling stockholders, including management and directors, are offering 4,000,000 shares. Underwriters have a 30-day option for another 750,000 shares. The public offering is expected to close on November 17, 2020. BigCommerce will not receive proceeds from the selling stockholders. J.P. Morgan and Barclays are the lead managers for this offering, which follows a successful registration by the SEC.

Yotpo has been named an Elite Partner by BigCommerce (NASDAQ:BIGC), becoming a preferred provider for reviews, visual UGC, and loyalty programs. This partnership, recognized by BigCommerce's 2020 Merchant's Choice Award, highlights Yotpo's consistent growth within the BigCommerce ecosystem over the last 10 quarters. Yotpo's technology is designed for scalability, enabling brands to enhance customer experiences through seamless integrations. The collaboration includes advanced features such as on-brand loyalty programs and comprehensive reviews solutions, aimed at optimizing the eCommerce landscape.

BigCommerce (Nasdaq: BIGC) announced a follow-on public offering of its Series 1 common stock, aiming to sell up to 1,000,000 shares, while selling stockholders look to offload up to 4,000,000 shares. The offering includes an option for underwriters to purchase an additional 750,000 shares. Notably, the company will not receive proceeds from the selling stockholders. The lock-up restrictions on certain shares held by officers and directors are being lifted in conjunction with this offering, with new 90-day lock-up agreements established. J.P. Morgan and Barclays are the lead managers for this offering.

BigCommerce (Nasdaq: BIGC) has joined the MACH Alliance, a coalition promoting open technology ecosystems for enterprise ecommerce solutions. This participation aligns with BigCommerce's strategy to offer a flexible and scalable platform through composable architectures. The company aims to enhance the development and adoption of microservices-based, API-first technologies. With a commitment to future-proof digital commerce, BigCommerce continues to empower merchants with headless deployments and extensive integrations, fostering a better IT architecture.

BigCommerce reported a strong third quarter for 2020, with total revenue reaching $39.7 million, a 41% increase year-over-year. Total ARR rose to $167.0 million, up 38% compared to the previous year. The GAAP net loss improved to ($10.9 million), reflecting a better net loss percentage of 27% of total revenue. The company expects Q4 revenue between $38.3 million and $38.7 million and a full-year revenue of $147.5 million to $147.9 million. Cash reserves totaled $178.8 million as of September 30, 2020.

BigCommerce (Nasdaq: BIGC) has launched Channel Manager, a feature enabling merchants to manage their omnichannel sales more efficiently. It integrates with various marketplaces, expanding merchants' reach to 100 million active users through partnerships like Wish. Channel Manager simplifies channel management, enhances shopping experiences, and allows for 2-day delivery via Deliverr. This modernized tool aims to streamline operations for BigCommerce sellers, making it easier to connect with shoppers across multiple platforms.