News - BigCommerce reports Q2 earnings growth of 33%

By M Ryan September 9, 2020

September 9th, 2020. BigCommerce reported its Q2 results today, with revenue up 33% compared to 2019 at $36.3m, with a GAAP loss of ($7.4m) compared to ($10.4m) in the same period last year. It reported 9,378 customers (up 7% compared to 2019) are now paying in excess of $2,000 annual contract value (ACV), contributing to 80% of its total annual recurring revenue.

BigCommerce also announced nine new customers from the Forbes Global 2000 companies in Q2, including Diageo, Royal Dutch Shell and Sharp Electronics.

BigCommerce strategy is to serve more established businesses and larger businesses than some of its rivals, in particular Shopify with which it is often compared. In an interview for CNBC on September 10th, Brent Bellm, the BigCommerce CEO (and former eBay and PayPal executive), claimed "BigCommerce best serves a very different company than does Shopify" with a open SaaS platform that is "more flexible and adaptable for established businesses, large businesses, B2B sellers, global sellers".