On February 28, BigCommerce Holdings Inc. (BIGC) declared its financial results for Q4 and fiscal 2021. Consequently, the stock plunged deep in the after-hours on Monday.
It seems investors were looking forward to a beat result as the stock gained 2.33% during the regular trading before the earnings were released. At an above-average volume of 1.88 million shares, BIGC stock closed the regular session at a value of $25.90 per share. Following the announcement, the stock entered red and lost 16.22% in the after-hours session. Hence, BIGC stock went down to a value of $21.70 per share in the after-hours on Monday. The stock closed the session just above its 52-week low of $21.63. Thus, even a slight decline would mark a new low for the stock’s price.
The software-as-a-service (SaaS) technology solutions developer, BigCommerce Holdings Inc. was founded in 2009. Currently, its 71.62 million outstanding shares trade at a market capitalization of $1.81 billion. BIGC stands at a year-to-date loss of 26.77% while it went down by 58.69% last year.
BIGC’s Q4 2021 Results
In Q4 2021, the company had revenue of $64.9 million with an increase of 50% YOY against the previous-year period.
Moreover, the company incurred a non-GAAP net loss of $12.1 million in Q4 2021, against $8.0 million in the year-ago period. Subsequently, the non-GAAP net loss was $0.17 and $0.12 in Q4 2021 and 2020, respectively.
Furthermore, BIGC had an adjusted EBITDA loss of $11.0 million in Q4 2021, against $6.8 million in the year-ago quarter.
On December 31, 2021, the company had cash, cash equivalents, restricted cash, and marketable securities of $401 million.
2022 Guidance
For Q1 2022, the company expects a non-GAAP operating loss of $11.5-$13.5 million on revenue of $61.9-$65.1 million.
BIGC expects a non-GAAP operating loss of $45.9-$53.9 million on revenue of $271.6-$283.6 million for fiscal 2022.
BIGC Company News
On February 23, the company announced direct integration with an experienced global commerce enabler, Digital River. This integration will lead to the provision of an all-in-one global commerce solution to mid-market and even enterprise BIGC merchants. The all-in-one solution will fully manage payments, tax, fraud, and compliance for simplification of cross-border selling, thus, accelerating global expansion.
Conclusion
While the investors were hopeful for a better outcome, the company posted a wider-than-expected loss on Monday. Therefore, disappointing the investors, the stock plunged down in the after-hours session.
