Core Insights - BigCommerce has announced a corporate partnership with the National Association of Electrical Distributors (NAED) to enhance digital transformation in the electrical distribution industry [1][2] - The partnership aims to empower manufacturers and distributors to adopt digital-first strategies, modernize sales channels, and improve operational efficiency [2][3] - BigCommerce will focus on key initiatives such as the Digital Center of Excellence and workforce development programs to address talent shortages in the industry [3][4] Company Overview - BigCommerce is a leading open SaaS and composable ecommerce platform that supports B2C and B2B brands, retailers, manufacturers, and distributors globally [5] - The platform is utilized by tens of thousands of companies across 150 countries, providing them with professional-grade functionality and ease of use [5]

Core Insights - BigCommerce has appointed Andrew Norman as the senior vice president and general manager for EMEA, bringing over 25 years of experience in international expansion for SaaS companies [1][2] - Norman's role will focus on leading BigCommerce's go-to-market strategy in the EMEA region, leveraging his extensive background in the ecommerce market [2][3] - The CEO of BigCommerce, Travis Hess, emphasized Norman's exceptional record in scaling international technology companies and his extensive network of strategic partnerships, which are expected to enhance market penetration and innovation [3] Company Overview - BigCommerce is a leading provider of open, composable commerce solutions for B2C and B2B brands and retailers, with a strong track record of helping various businesses grow in the EMEA region [1][5] - The platform empowers brands, retailers, manufacturers, and distributors of all sizes to build and grow their online businesses, offering sophisticated functionality and ease of use [5] - BigCommerce serves tens of thousands of companies across 150 countries, including notable clients like Coldwater Creek and Harvey Nichols [5]

Core Insights - BigCommerce has introduced enhancements to its B2B products aimed at improving sales team efficiency and streamlining processes to better respond to market demands and foster growth [1][2] Product Enhancements - The new features include Configure-Price-Quote (CPQ) and Multi-Company Account Hierarchy with Advanced Permissioning, which facilitate faster quote conversion and reduce redundant account management tasks [2][7] - Enhanced Account Hierarchy and Advanced Permissioning are designed for complex B2B environments, supporting enterprise-level account structures and role-based permissions, enabling rapid scaling while maintaining a personalized customer experience [5][6] Market Impact - These updates are expected to significantly improve operational efficiency for manufacturers, distributors, and wholesalers, allowing sales teams to focus on customer relationships rather than workflow management [3][5] - The Multi-Company Account Hierarchy feature provides better access control and management for enterprises with multiple branches, enhancing reporting capabilities [3][4] Customer Benefits - The CPQ product aims to accelerate quote-to-cash cycles, drive revenue growth, and enhance customer satisfaction by streamlining the quoting process [6][8] - Features of CPQ include support for multi-tier account structures, intuitive configuration tools, granular access control, and self-service capabilities for buyers [7][10] Strategic Positioning - BigCommerce positions itself as a forward-thinking B2B ecommerce solution provider, combining agility with enterprise-grade functionality without incurring high costs, thereby supporting digital transformation for its clients [8]

Core Insights - BigCommerce has announced a partnership with Pipe17 to enhance order management for merchants in the digital commerce ecosystem [1][5][7] - The partnership aims to provide a more flexible and efficient order operations network, addressing the complexities of modern commerce [5][6][7] Company Overview - BigCommerce is a leading provider of open, composable commerce solutions for B2C and B2B brands, enabling seamless online sales and order management [1][8] - Pipe17 specializes in AI-powered order operations, transforming how orders, inventory, and data flow in the commerce landscape [5][11] Market Trends - Customers increasingly expect to shop across various channels, including brand websites, marketplaces, and social platforms, demanding instant delivery and flawless order fulfillment [3][4] - The growing complexity of selling channels and fulfillment infrastructure necessitates advanced order management solutions [4][5] Partnership Benefits - The collaboration allows merchants on the BigCommerce platform to leverage Pipe17's connectivity network, enhancing their fulfillment capabilities [6] - The partnership aims to streamline order management processes, ensuring smooth order flow from capture to delivery [7][8]

Core Insights - BigCommerce has launched a three-pronged product initiative aimed at enhancing the app-building experience for developers, thereby increasing the platform's functionality [1][2] Group 1: Product Launch Details - The product launch includes a redesigned app development portal that offers a more intuitive workflow for modern app developers [5] - Unified Billing is introduced as a new feature that allows third-party solution providers to utilize BigCommerce's billing infrastructure, simplifying the app development and launch process [5] - A partnership with Gadget.dev has been established, providing out-of-the-box hosting, infrastructure, and a built-in connection to BigCommerce APIs [5] Group 2: Developer Empowerment - The new features are expected to significantly impact the breadth, adoption, and overall app experience within the BigCommerce marketplace, as stated by the Chief Product Officer [2] - Unified Billing enables tech partners to transfer billing responsibilities to BigCommerce, allowing them to focus on product development rather than payment processing [2][3] - Developers have reported a smooth integration process with Unified Billing, highlighting the comprehensive documentation and ease of implementation [3]

International Expansion - BigCommerce serves customers across more than 150 countries, enabling stores in various languages and currencies, with a focus on international expansion as part of its growth strategy[37]. - The EMEA region experienced revenue growth of 10% for the year ended December 31, 2024, following a 25% growth in 2023, while APAC saw a 7% revenue growth for the same periods[38]. Business Categorization - The company categorizes small businesses as those with annual revenue ranging from $0.5 million to $5.0 million, and any business with revenue over $5.0 million falls under B2B or B2C[36]. Security and Technology - BigCommerce's platform is designed with enterprise-grade security, reliability, and scalability, utilizing best-of-breed open source technologies across geographically-distributed data centers[35]. - BigCommerce's Catalyst framework, launched in late 2024, simplifies composable commerce and allows for rapid innovation and development of online stores[31]. Intellectual Property - The company has two issued patents in the United States, expiring in 2035 and 2036, and relies on various intellectual property protections including trade secrets and trademarks[41]. Workforce - As of December 31, 2024, BigCommerce employed 1,161 full-time employees, with 70% located in the United States, emphasizing the importance of attracting and retaining skilled personnel[42]. Business Strategy - BigCommerce's mission is to empower businesses to sell more everywhere, focusing on B2C, B2B, and small business markets[25]. - The company aims to continue investing in strategic offerings and developing partnerships to enhance its portfolio of professional-grade commerce solutions[33]. - The company emphasizes a partner-centric strategy, collaborating with leading providers in adjacent categories rather than competing against them[32]. Financial Performance - The company historically experiences higher revenue in the fourth quarter due to seasonal holiday demand, although future patterns may vary[47]. - As of December 31, 2024, the company issued $150.0 million in 2028 Convertible Notes with a fixed interest rate of 7.50 percent[366]. - An immediate increase or decrease in interest rates of 100 basis points could result in a $1.3 million market value change[365]. - The company has not experienced any losses on deposits of cash and cash equivalents, which are held by high credit quality financial institutions[370]. Currency Exposure - The company currently does not hedge foreign currency exposure but may consider using derivative financial instruments in the future[369]. - A majority of the company's revenue and expenses for the year ended December 31, 2024, were transacted in U.S. dollars, minimizing foreign exchange risk[367]. - The company believes that exposure to foreign currency fluctuations from operating expenses is relatively small at this time[368]. Legal Environment - The legal environment for internet-based businesses is rapidly evolving, impacting areas such as data privacy and intellectual property[48]. - The company is not currently involved in any legal proceedings that would materially affect its business or financial condition[49].

Company Overview - BigCommerce Holdings, Inc. is a leading provider of professional-grade, composable commerce solutions [1][4] - The company offers an open SaaS and composable ecommerce platform that enables brands, retailers, manufacturers, and distributors to build and grow their businesses online [4] Upcoming Event - BigCommerce will host its Analyst and Investor Day on March 11, 2025, in New York City from 2:30 p.m. to 5:30 p.m. Eastern Time [1][2] - The leadership team will discuss the company's strategic vision, product offerings, financial performance, and long-term growth opportunities, followed by a live Q&A session [2] Participation Details - In-person attendance is by invitation only, and registration is required due to limited participation [2] - The event will also be webcast live, with registration available on BigCommerce's Investor Relations website [3] - An archived replay of the event will be accessible for twelve months following the live session [3]

Core Insights - Shares of BigCommerce Holdings, Inc. (NASDAQ: BIGC) experienced a decline following the release of the fourth-quarter earnings report, primarily due to moderate top line growth in the e-Commerce and SaaS sectors [1] - The company provided guidance indicating only high-single-digit growth for the upcoming period [1] Financial Performance - The fourth-quarter earnings scorecard revealed that BigCommerce's revenue growth was not as robust as anticipated, leading to a negative market reaction [1] - The company's future outlook suggests a conservative growth trajectory, which may impact investor sentiment [1]

Core Insights - BigCommerce reported revenue of $87.03 million for Q4 2024, a year-over-year increase of 3.4% and an EPS of $0.11, up from $0.09 a year ago [1] - The revenue exceeded the Zacks Consensus Estimate of $86.75 million, resulting in a surprise of +0.32%, while the EPS surprise was +83.33% compared to the consensus estimate of $0.06 [1] Financial Performance Metrics - Annual Recurring Revenue (ARR) attributable to Enterprise Accounts was $261.60 million, slightly below the two-analyst average estimate of $263.87 million [4] - Total Annual Revenue Run-rate (ARR) was reported at $349.60 million, compared to the average estimate of $351.45 million based on two analysts [4] - Revenue from Partner and Services was $24.74 million, exceeding the average estimate of $23.92 million from six analysts, reflecting a year-over-year increase of +5.1% [4] - Revenue from Subscription Solutions was $62.29 million, slightly below the six-analyst average estimate of $62.83 million, with a year-over-year change of +2.8% [4] Stock Performance - BigCommerce shares have returned +7.9% over the past month, outperforming the Zacks S&P 500 composite's +2.6% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [3]

Financial Data and Key Metrics Changes - The company reported non-GAAP operating income exceeding $19 million for 2024, a $25 million improvement over 2023, and nearly double the original forecast [9] - Non-GAAP operating margin expanded by 767 basis points, with operating cash flow reaching $26 million, a $50 million improvement from the previous year [9][25] - Revenue for Q4 reached $87 million, up 3% year-over-year, while full-year revenue grew 8% to $333 million [25][30] - Annual recurring revenue (ARR) ended at nearly $350 million, a 4% increase year-over-year [27] Business Line Data and Key Metrics Changes - The company has three owned products: BigCommerce, Feedonomics, and Makeswift, which have been integrated operationally and commercially [16] - Enterprise ARR grew 7% to $262 million, representing 75% of total company ARR, while non-enterprise ARR declined 4% to $88 million [27][30] Market Data and Key Metrics Changes - Net revenue retention for enterprise accounts finished at 99%, which is below past performance [12][27] - The company is targeting mid-single-digit growth rates for the full year, with ARR growth gradually accelerating [30][31] Company Strategy and Development Direction - The company aims to reaccelerate revenue growth profitably, operate with discipline, and execute a sales and marketing transformation [22] - Recent leadership additions are expected to drive the next growth phase, with a focus on recruiting top leaders with SaaS and commerce expertise [13][14] - The launch of Catalyst is intended to enhance capabilities and reduce costs for brands, retailers, and distributors [20][21] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism regarding the macroeconomic environment, noting that they have not baked significant changes into their outlook [92] - The company is focused on tactical execution within its go-to-market teams to achieve its numbers [94] - Management acknowledged that transformations take time but emphasized their commitment to unlocking the company's full potential [32][120] Other Important Information - The company reduced headcount by approximately 10% and streamlined operations to improve profitability and cash flow [28] - The financial position is strong, with $126 million in cash and marketable securities after repurchasing a portion of convertible notes [29][30] Q&A Session Summary Question: Key benchmarks for success and timeline for improvements - Management indicated that pipeline quality will be the leading indicator of success, with expectations for improved bookings by mid-year [38][40] Question: Sales capacity ramp and pipeline creation - Management clarified that the majority of resources to double sales capacity are already in place, with expectations for acceleration in the back half of the year [50][54] Question: Impact of tariffs on customer spending - Management stated that while macroeconomic factors contribute to conservatism in guidance, there are encouraging signs of optimism in the prospect community [57][58] Question: Engagement with partners post-leadership changes - Management reported positive engagement with partners, focusing on deepening relationships and enhancing operational capabilities [61][62] Question: Net revenue retention and churn reasons - Management noted that integrating products and improving go-to-market effectiveness will enhance net revenue retention and address churn [88][89] Question: Dependence on macroeconomic conditions - Management emphasized a conservative outlook, not relying on macro changes for guidance, while remaining cautiously optimistic about project resurgence [92][94] Question: Balance between partner engagement and internal capabilities - Management believes that partnerships will strengthen as they create a marketplace with partners, enhancing customer options and capabilities [98][100] Question: Competitive landscape affecting enterprise accounts - Management acknowledged stabilization in enterprise account numbers but aims for growth, focusing on larger customers for dollarized growth [103][105]