Condensed Consolidated Statements of Operations(in thousands, except per share amounts)(unaudited) For the three months ended March 31, 2025 2024 Revenue $82,370 $80,360 Cost of revenue (1) 16,984 18,439 Gross profit 65,386 61,921 Operating expenses: Sales and marketing(1) 30,366 32,432 Research and development(1) 19,206 19,988 General and administrative(1) 13,644 14,929 Amortization of intangible assets 2,335 2,467 Acquisition related costs 333 333 Restructuring charges 1,912 0 Total operating expenses 67,796 70,149 Loss from operations (2,410) (8,228)Gain on convertible note extinguishment 3,931 0 Interest income 1,300 3,178 Interest expense (2,543) (720)Other expense (107) (332)Income (loss) before provision for income taxes 171 (6,102)Provision for income taxes (524) (290)Net loss $(353) $(6,392)Basic net loss per share $(0.00) $(0.08)Shares used to compute basic net loss per share 78,835 76,626 (1) Amounts include stock-based compensation expense and associated payroll tax costs, as follows: For the three months ended March 31, 2025 2024 Cost of revenue $746 $656 Sales and marketing 1,775 1,867 Research and development 3,042 3,476 General and administrative (144) 2,592 BigCommerce Holdings, Inc.
Condensed Consolidated Statements of Cash Flows(in thousands)(unaudited) Three months ended March 31, 2025 2024 Cash flows from operating activities Net loss$(353) $(6,392)Adjustments to reconcile net loss to net cash provided by (used in) operating activities: Depreciation and amortization expense 4,281 3,486 Amortization of discount on convertible notes 187 497 Amortization of premium on convertible notes (402) 0 Stock-based compensation expense 5,209 8,388 Provision for expected credit losses 930 863 Gain on convertible notes extinguishment (3,931) 0 Changes in operating assets and liabilities: Accounts receivable 3,020 (2,588)Prepaid expenses and other assets (5,084) (4,960)Deferred commissions 1,935 211 Accounts payable 678 (889)Accrued and other liabilities (8,137) (4,601)Deferred revenue 2,068 2,568 Net cash provided by (used in) operating activities 401 (3,417)Cash flows from investing activities: Cash paid for website domain name (2,444) 0 Purchase of property, equipment, leasehold improvements and capitalized internal-use software (825) (806)Maturity of marketable securities 28,579 29,440 Purchase of marketable securities (7,945) (35,565)Net cash provided by (used in) investing activities 17,365 (6,931)Cash flows from financing activities: Proceeds from exercise of stock options 1,096 974 Taxes paid related to net share settlement of stock options (1,225) (1,325)Payment of convertible note issuance costs (217) 0 Repayment of convertible notes and financing obligation (54,528) (134)Net cash used in financing activities (54,874) (485)Net change in cash and cash equivalents and restricted cash (37,108) (10,833)Cash and cash equivalents and restricted cash, beginning of period 90,356 72,845 Cash and cash equivalents and restricted cash, end of period$53,248 $62,012 Supplemental cash flow information: Cash paid for interest$5,685 $439 Cash paid for taxes$220 $140 Right-of-use asset obtained in exchange for new operating lease liability$5,516 $0 Noncash investing and financing activities: Capital additions, accrued but not paid$205 $0 BigCommerce Holdings, Inc.
First Quarter Total Revenue of $82.4 Million, an Increase of 3% Versus Prior Year.Total ARR of $350.8 Million, an Increase of 3% Versus Prior Year.Enterprise ARR of $263.8 Million, an Increase of 6% Versus Prior YearAUSTIN, Texas, May 08, 2025 (GLOBE NEWSWIRE) -- BigCommerce Holdings, Inc.("BigCommerce” or the "Company”) (Nasdaq: BIGC), an open SaaS, composable ecommerce platform for fast-growing and established B2C and B2B brands, retailers, manufacturers and distributors, today announced financial results for its first quarter ended March 31, 2025.
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