A thread on @BigCommerce
$BIGC
* Revenue: $46.7M (up 41% yoy) versus analyst expectations of $42.2M
The highest estimate of the ten covering analysts was for $42.70M.
* Total ARR: $196.3M, up 43%.
* Adjusted EPS: -$0.04 versus -$0.11.
/1
$BIGC
* Revenue: $46.7M (up 41% yoy) versus analyst expectations of $42.2M
The highest estimate of the ten covering analysts was for $42.70M.
* Total ARR: $196.3M, up 43%.
* Adjusted EPS: -$0.04 versus -$0.11.
/1
$BIGC @BigCommerce
* Next Q Revenue Guide: $46.7M versus $45.62M.
* Full Year Revenue Guide: $197.5 versus $190.68M.
The highest estimate of the ten analysts out there was for $192 million.
/2
* Next Q Revenue Guide: $46.7M versus $45.62M.
* Full Year Revenue Guide: $197.5 versus $190.68M.
The highest estimate of the ten analysts out there was for $192 million.
/2
$BIGC
* Fourth consecutive year of accelerating top line growth and now we are over 40%.
* Revenue growth accelerating: 41% growth for Q1 2021 versus 36% for Q1 2020.
* But so too are these metrics:
...
/3
* Fourth consecutive year of accelerating top line growth and now we are over 40%.
* Revenue growth accelerating: 41% growth for Q1 2021 versus 36% for Q1 2020.
* But so too are these metrics:
...
/3
$BIGC @BigCommerce
* Average revenue per account (“ARPA”) for accounts with over $2,000 in annual contract value (ACV) was up 29% in Q1 2021 versus up 26% in Q1 2020.
* Accounts greater than $2,000 in ACV were up 83% in Q1 2021 versus 79% in Q1 2020.
/4
* Average revenue per account (“ARPA”) for accounts with over $2,000 in annual contract value (ACV) was up 29% in Q1 2021 versus up 26% in Q1 2020.
* Accounts greater than $2,000 in ACV were up 83% in Q1 2021 versus 79% in Q1 2020.
/4
$BIGC
The push into enterprise customers is succeeding
* The enterprise segment drove annual recurring revenue (ARR) in this group to 57% of total ARR in Q1 2021 versus 56% for all of 2020, up from 52% in Q1 2020, 52% for all of 2019, and 46% for all of 2018.
/5
The push into enterprise customers is succeeding
* The enterprise segment drove annual recurring revenue (ARR) in this group to 57% of total ARR in Q1 2021 versus 56% for all of 2020, up from 52% in Q1 2020, 52% for all of 2019, and 46% for all of 2018.
/5
$BIGC
In a raging bear market for small- to mid-cap tech, which BIGC certainly is, it’s hard to feel bullish or optimistic, but facts are facts, and thus far, the company has demonstrated at least a reasonable basis to be optimistic.
/6
In a raging bear market for small- to mid-cap tech, which BIGC certainly is, it’s hard to feel bullish or optimistic, but facts are facts, and thus far, the company has demonstrated at least a reasonable basis to be optimistic.
/6
$BIGC
It is time to look at operating leverage.
The "Greens"
* Gross profit percent has risen from 76% in 2018 to 81% in Q1 2021.
* Operating margin percent has risen from -39% in 2018 to -7% in Q1 2021.
/7
It is time to look at operating leverage.
The "Greens"
* Gross profit percent has risen from 76% in 2018 to 81% in Q1 2021.
* Operating margin percent has risen from -39% in 2018 to -7% in Q1 2021.
/7
$BIGC
The “reds”
* S&M expense as a per cent of revenue has fallen from 50% in 2018 to 41% in Q1 2021.
* R&D expense as a per cent of revenue has fallen from 46% in 2018 to 26% in Q1 2021.
* G&A expense as a per cent of revenue has stayed steady at 20%.
I am long.
/8
The “reds”
* S&M expense as a per cent of revenue has fallen from 50% in 2018 to 41% in Q1 2021.
* R&D expense as a per cent of revenue has fallen from 46% in 2018 to 26% in Q1 2021.
* G&A expense as a per cent of revenue has stayed steady at 20%.
I am long.
/8
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