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BigCommerce (BIGC) Stock Jumped Nearly 14% After-Hours, Why?

As of last check in extended session on Thursday, shares of BigCommerce Holdings Inc. (BIGC) were trading at $52.22 after-hours, up 13.89%. BIGC stock closed the regular session at $45.85. There were 1.44 million shares traded during the session, which is higher than the past 50 day average of 1.21 million shares.

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The shares of BIGC have fallen -44.49% over the past year, and they have declined -1.31% over the past week. In the past three months, BIGC shares have lost 27.41%, while over the past six months, they have lost 5.33%. Current market capitalization for BIGC is $3.28 billion with 70.62 million shares outstanding. BIGC stock soared following the release of its quarterly results.

How well BIGC’s financial performance was?

BigCommerce is a cutting-edge software-as-a-service (SaaS) internet business solution that enables merchants of all types to create, expand, and grow their companies online. BIGC, as a premier Open SaaS solution, offers shippers with easy-to-use project-grade capability, customization, and execution.

Many B2B and B2C organisations and corporations use BIGC to make dealing with online merchants more entertaining, including Ben & Jerry’s, Molton Brown, S.C. Johnson, Skullcandy, Sony, and Vodafone. BIGC has offices in London, Kyiv, San Francisco, and Sydney, as well as its headquarters in Austin.

The financial results of BigCommerce’s third quarter ended September 30, 2021 were announced yesterday.

Highlights of financial results:

  • BIGC reported $59.3 million in revenue in the third quarter of 2021, an increase of 49% from the previous quarter.
  • According to non-GAAP results, BIGC lost ($3.8) million in the third quarter of 2021, compared to ($7.2) million in the third quarter of 2020.
  • BIGC reported a non-GAAP net loss per share of ($0.06) in the third quarter of 2020, based on 71.4 million weighted-average shares of common stock outstanding, compared to ($0.16) in the third quarter of 2020, based on 49.4 million weighted-average shares of common stock outstanding.
  • During the third quarter of 2021, BIGC’s adjusted EBITDA was ($3.1) million, down from ($6.6) million in a year ago quarter.

Q4 and 2021 Financial Outlook:

  • BIGC has been expecting to generate total revenue of between $61.3 million and $61.7 million in the fourth quarter of 2021, representing a year-over-year increase of 42% or 43%.
  • BIGC forecasts an operating loss between ($8.0) million and ($9.2) million.
  • In a conference call and webcast held on Thursday, November 4, 2021 at 5:00 pm ET, BigCommerce discussed its financial results and business highlights.

Acquisition And Expansion Efforts:

BigCommerce (BIGC) announced the purchase of Feedonomics, a data feed management technology utilized by roughly 30% of the top 1,000 online retailers, in the third quarter. As the rise of ecommerce in the Eurozone continues to increase, BIGC expanded its European footprint beyond the UK by extending into France, Italy, and the Netherlands to work directly with local merchants and partners.

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