Shares of BigCommerce Holdings Inc. (BIGC) are rising over 3% Wednesday morning, after the company issued upbeat revenue guidance for the second quarter and full year 2021, while reporting improved Q1 results.<\/p>\n
The stock, which has been trading in the range of $43.80 – $162.50 for the past one year, is currently trading at $48.01, up $1.53 or 3.30%, with trading volume of 625K more versus an average volume of 1.77 million shares.<\/p>\n
Q2, FY21 Outlook<\/p>\n
The company expects total revenue for the second quarter to be in the range of $46.4 million – $46.9 million, translating into a year-over-year growth rate of 28% – 29%, and revenue for fiscal 2021 to range between $196.7 million and $198.2 million, translating into a year-over-year growth rate of 29% – 30%. Wall Street analysts estimate revenue of $45.67 million for the second quarter, and $190.64 million for the fiscal year 2021.<\/p>\n
Further, the company projects non-GAAP operating loss to be $8.1 million – $8.6 million for the second quarter, and non-GAAP operating loss of $31 million – $32.5 million for the year 2021.<\/p>\n
Q1 Results<\/p>\n
The company reported Q1 GAAP net loss of $8.5 million or $0.12 per share compared to a loss of $4.0 million or $0.31 per share last year.<\/p>\n
On a non-GAAP basis, net loss was $3.1 million or $0.04 per share, narrower than the previous year’s loss of $7.4 million or $0.40 per share. <\/p>\n
Analysts polled by Thomson Reuters expected a loss of $0.11 per share for the quarter. Analysts’ estimate typically exclude certain special items.<\/p>\n
Total revenue was $46.7 million, up 41% compared to the first quarter of 2020. <\/p>\n