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Commerce.com

BIGC · NASDAQ

$3.80+$0.32 (+9.20%)TodayMarket closed ·
Prev close $3.48

BIGC analyst rating

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The case for and against

Updated Jul 31, 2025

Bull case

BigCommerce Holdings Inc. reported a total revenue increase of 3.4% year-over-year for 4Q24, driven by subscription revenue growth of 2.8% and professional services revenue growth of 5.1%, signaling a positive trajectory for the company's core offerings. The enterprise Annual Recurring Revenue (ARR) rose by $4.7 million sequentially, totaling $261.6 million and indicating a robust year-over-year growth of 6.7%, which underscores the expanding adoption of its platform among larger enterprises. With consistent revenue growth across geographic regions, particularly a 3.2% increase in U.S. revenue and strategic enhancements such as product integration and increased account management resources, BigCommerce is positioned for an accelerated path toward growth and profitability over the next 3 to 5 years.

Bear case

BigCommerce Holdings Inc. reported a decline in the number of enterprise accounts, decreasing from 5,892 to 5,884, which translates to a 1.8% sequential decline since the previous quarter, indicating potential challenges in customer retention. Additionally, the company experienced a decrease in retail Annual Recurring Revenue (ARR) from $90.9 million to $88.0 million, further highlighting concerns about revenue growth and customer engagement. Moreover, the company's free cash flow of $11.6 million, with a margin of 13.3%, showed a decrease of approximately $700,000 year-over-year and an adverse margin compression of around 120 basis points, signaling weakening financial performance overall.

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