With a new leader and a renewed focus on growth, the third quarter was promising for e-commerce applications developer BigCommerce Inc.
For the quarter ending September 30, total revenue reached $83.7 million, marking a 7% increase compared to the same period in 2023, when revenue totaled $78.0 million. Net losses for the quarter narrowed to $7.0 million, down from $20.3 million in the third quarter of 2023.
On October 2, BigCommerce announced it had officially parted ways with Brent Bellm, who served as both CEO and chair of the board. Travis Hess, previously the company’s president since May 2024, was promoted to CEO.
“BigCommerce has been significantly underrepresented in the marketplace relative to the strength of our products,” Hess remarked. “Our third-quarter revenue increased 7% year-over-year, but there’s potential for much greater growth. As CEO, my top priority is to reach that potential. We are making substantial changes to accelerate growth and align our team to support organizations in solving business challenges, maximizing agility, and optimizing revenue.”
Other third-quarter highlights included:
- Subscription solutions revenue reached $62.8 million, up 7% year-over-year.
- Enterprise accounts totaled 5,892, a slight decline of 1%.
- Average revenue per account (ARPA) for enterprise clients increased by 8%, reaching $43,600.
- Revenue growth by region: Americas saw a 6% increase, EMEA grew by 12%, and APAC by 9%.
The company is taking significant steps to increase its applications development and services revenue, Hess told analysts in a recent earnings call.
“I was drawn to e-commerce because, despite our product strengths, we are materially underrepresented in the market,” Hess stated. “Our products effectively address the needs of organizations, industries, and brands with nuanced use cases and requirements. We have, at times, tried to cater to all audiences, unintentionally diluting our broader value proposition.”
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