BIGC - BigCommerce Non-GAAP EPS of -$0.07 beats by $0.06 revenue of $71.76M beats by $0.29M

2023-05-04 16:34:21 ET

• BigCommerce press release ( NASDAQ: BIGC ): Q1 Non-GAAP EPS of -$0.07 beats by $0.06 .
• Revenue of $71.76M (+8.6% Y/Y) beats by $0.29M .
• Total annual revenue run-rate as of March 31, 2023 was $316.7 million, up 13% compared to March 31, 2022.
• Subscription revenue was $53.8 million, up 12% compared to the first quarter of 2022.
• ARR from accounts with at least one enterprise plan was $228.8 million as of March 31, 2023, up 21% from March 31, 2022.
• ARR from Enterprise Accounts as a percent of total ARR was 72% as of March 31, 2023, compared to 67% as of March 31, 2022.
• GAAP gross margin was 76%, compared to 74% in the first quarter of 2022. Non-GAAP gross margin was 77%, compared to 75% in the first quarter of 2022.
• Q2 Outlook: Total revenue between $72.1 million to $74.1 million, implying a year-over-year growth rate of 6% to 9%.
• Non-GAAP operating loss is expected to be between $5.5 million to $9.5 million.
• 2023 Outlook: Total revenue between $303.0 million and $311.0 million, translating into a year-over-year growth rate of 9% and 11%.
• Non-GAAP operating loss between $14 million and $20 million

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