Brief: Bigcommerce Holdings Sees Q4 Total Revenue $79.8 Million-$83.8 Million Implying Growth Rate Of 10%-16%

Commerce.com

08/11/2023 11:11

Nov 8 (Reuters) - Bigcommerce Holdings Inc  BIGC.O :
    * SEES Q4 TOTAL REVENUE BETWEEN $79.8 MILLION TO $83.8
MILLION,
IMPLYING A YEAR-OVER-YEAR GROWTH RATE OF 10% TO 16%
    * SEES FY TOTAL REVENUE BETWEEN $305.0 MILLION AND $309.0
MILLION,
TRANSLATING INTO A YEAR-OVER-YEAR GROWTH RATE OF 9% AND 11%
    * SEES FY NON-GAAP OPERATING LOSS BETWEEN $6.9 MILLION AND
$9.9
MILLION
    * QTRLY BASIC NET LOSS PER SHARE $0.27
    * FY2023 REVENUE VIEW $307.0 MILLION -- LSEG IBES DATA
    * Q4 REVENUE VIEW $81.7 MILLION -- LSEG IBES DATA
    * BIGCOMMERCE IS RESTRUCTURING OUR WORKFORCE BY
APPROXIMATELY 7%
    * RESTRUCTURING POSITIONS US FOR LONG-TERM PROFITABLE GROWTH
ENTERING 2024
    * GOING FORWARD, SUCCESS OF EXISTING CUSTOMERS WILL BE A KEY
DRIVER OF NET REVENUE RETENTION AND GROWTH
    * BIGCOMMERCE HOLDINGS - IN SEPT 2023, WE COMMITTED TO A
RESTRUCTURING PLAN TO REDUCE OUR CURRENT WORKFORCE BY
APPROXIMATELY 7 PERCENT, EFFECTIVE NOV 8
    * RECORDED AN EXPENSE ASSOCIATED WITH RESTRUCTURING PLAN OF
APPROXIMATELY $5.5 MILLION IN OUR FISCAL 2023 Q3.

Source text for Eikon:  ID:nGNX6mHdfb 
Further company coverage:  BIGC.O 

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