Bigmerce (BIGC)2025-05-08 11:05Revenue Performance - Total revenue for Q1 2025 was $82.4 million, representing a 3% increase compared to Q1 2024[6] - Total annual revenue run-rate (ARR) as of March 31, 2025, was $350.8 million, up 3% year-over-year[6] - Subscription solutions revenue reached $62.1 million, a 2% increase from Q1 2024[6] - Revenue for the three months ended March 31, 2025, was $82,370,000, representing a 2.5% increase from $80,360,000 in the same period of 2024[39] - Revenue from the United States was $62,621,000, up from $61,138,000 in the previous year, indicating strong domestic performance[44] Profitability Metrics - GAAP gross margin improved to 79%, up from 77% in Q1 2024, while non-GAAP gross margin was 80%, compared to 78% in the prior year[6] - Non-GAAP operating income for Q1 2025 was $7.6 million, compared to $3.2 million in Q1 2024[6] - Adjusted EBITDA was $8.8 million, an increase from $4.2 million in the same quarter last year[8] - GAAP net loss narrowed to ($0.4) million from ($6.4) million in Q1 2024[12] - Net loss for Q1 2025 was $353,000, significantly reduced from a net loss of $6,392,000 in Q1 2024[39] - Non-GAAP net income for Q1 2025 was $5,715,000, up from $4,999,000 in Q1 2024, indicating a growth of 14.3%[46] Cash Flow and Assets - Cash and cash equivalents totaled $121.9 million as of March 31, 2025[12] - Free cash flow for the three months ended March 31, 2025, was $401,000, a turnaround from a cash outflow of $3,417,000 in the same period of 2024[41] - Free cash flow for Q1 2025 was $(2,868,000), an improvement from $(4,223,000) in Q1 2024[51] - Total current assets decreased to $192,680,000 as of March 31, 2025, down from $251,219,000 at the end of 2024[37] Expenses - Non-GAAP cost of revenue decreased to $16,238,000 in Q1 2025 from $17,783,000 in Q1 2024, a reduction of 8.7%[47] - Non-GAAP sales and marketing expenses were $28,591,000 in Q1 2025, down from $30,565,000 in Q1 2024, a decrease of 6.5%[48] - Non-GAAP research and development expenses were $16,164,000 in Q1 2025, slightly down from $16,512,000 in Q1 2024, a decrease of 2.1%[49] - Non-GAAP general and administrative expenses increased to $13,788,000 in Q1 2025 from $12,337,000 in Q1 2024, an increase of 11.8%[50] Future Projections - For Q2 2025, total revenue is expected to be between $82.5 million and $83.5 million, with non-GAAP operating income projected between $2.7 million and $3.7 million[21] - Average revenue per account (ARPA) for Enterprise Accounts was calculated by including customer-billed revenue and partner revenue allocations[28]