BigCommerce Announces Fourth Quarter and Fiscal Year 2024 Financial Results

Financial Performance - Full-year total revenue reached $332.9 million, marking an 8$349.6 million, up 4% year-over-year [1] - Fourth quarter revenue was $87.0 million, a 3$247.9 million, also an 8% increase from the previous year [14] - GAAP gross margin improved to 77% from 76% in the prior year [14] Operating Metrics - Adjusted EBITDA for the fourth quarter was $11.0 million, compared to$6.5 million in the same quarter of 2023 [6] - Non-GAAP operating income for the fourth quarter was $10.1 million, up from$5.4 million year-over-year [7] - The number of enterprise accounts decreased by 2% to 5,884, while average revenue per account (ARPA) increased by 9% to $44,458 [7] Cash Flow and Debt - Operating cash flow for the full year was$26.3 million, a significant improvement from a cash outflow of $24.2 million in 2023 [11] - The company had total outstanding debt of approximately$154.1 million as of December 31, 2024 [8] Business Highlights - The company successfully executed a go-to-market transformation, aligning its strategy and structure [2] - BigCommerce achieved 100% uptime during Cyber Week, with a 26% increase in gross merchandise value (GMV) year-over-year [15][16] - A new global partnership with Klarna was established to offer buy now, pay later services to merchants [18] Leadership Changes - Several key leadership appointments were made, including a new Chief Marketing Officer and Chief Revenue Officer [15]