BigCommerce Holdings (NasdaqGM:BIGC) - Share price, News & Analysis

BIGC fundamental analysis
Snowflake Score
Valuation	0/6
Future Growth	1/6
Past Performance	0/6
Financial Health	5/6
Dividends	0/6

BIGC Stock Overview

Rewards

Revenue is forecast to grow 18.04% per year

Risk Analysis

Currently unprofitable and not forecast to become profitable over the next 3 years

Volatile share price over the past 3 months

Shareholders have been diluted in the past year

BigCommerce Holdings Competitors

Shopify

NYSE:SHOP

US$45.4b

GoDaddy

NYSE:GDDY

US$11.7b

Wix.com

NasdaqGS:WIX

US$3.8b

Squarespace

NYSE:SQSP

US$3.0b

Price History & Performance

Summary of all time highs, changes and price drops for BigCommerce Holdings
Historical stock prices
Current Share Price	US$17.70
52 Week High	US$72.20
52 Week Low	US$12.71
Beta	0
1 Month Change	-11.32%
3 Month Change	-43.31%
1 Year Change	-61.44%
3 Year Change	n/a
5 Year Change	n/a
Change since IPO	-75.51%

Shareholder Returns

	BIGC	US IT	US Market
7D	8.1%	0.9%	0.7%
1Y	-61.4%	-27.2%	-10.8%

Return vs Industry: BIGC underperformed the US IT industry which returned -26.4% over the past year.

Return vs Market: BIGC underperformed the US Market which returned -10.4% over the past year.

Price Volatility

Is BIGC's price volatile compared to industry and market?
BIGC volatility
BIGC Average Weekly Movement	14.4%
IT Industry Average Movement	10.2%
Market Average Movement	7.8%
10% most volatile stocks in US Market	16.8%
10% least volatile stocks in US Market	2.9%

Stable Share Price: BIGC is more volatile than 75% of US stocks over the past 3 months, typically moving +/- 14% a week.

Volatility Over Time: BIGC's weekly volatility (14%) has been stable over the past year, but is still higher than 75% of US stocks.

About the Company

Founded	Employees	CEO	Website
2009	1,337	Brent Bellm	https://www.bigcommerce.com

BigCommerce Holdings, Inc. operates a software-as-a-service platform for small businesses, mid-markets, and large enterprises in the United States, Europe, the Middle East, Africa, the Asia-Pacific, and internationally. The company’s platform provides various services for launching and scaling e-commerce operation, including store design, catalog management, hosting, checkout, order management, reporting, and pre-integrations. As of December 31, 2021, it served approximately 60,000 online stores across industries.

BigCommerce Holdings Fundamentals Summary

How do BigCommerce Holdings's earnings and revenue compare to its market cap?
BIGC fundamental statistics
Market Cap	US$1.29b
Earnings (TTM)	-US$105.17m
Revenue (TTM)	US$239.25m

5.4x

P/S Ratio

-12.2x

P/E Ratio

Is BIGC overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
BIGC income statement (TTM)
Revenue	US$239.25m
Cost of Revenue	US$52.83m
Gross Profit	US$186.41m
Other Expenses	US$291.58m
Earnings	-US$105.17m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)	-1.45
Gross Margin	77.92%
Net Profit Margin	-43.96%
Debt/Equity Ratio	305.8%

How did BIGC perform over the long term?

See historical performance and comparison

Valuation

Is BigCommerce Holdings undervalued compared to its fair value and its price relative to the market?

Valuation Score

0/6

Valuation Score 0/6

Below Fair Value
Significantly Below Fair Value
PE vs Industry
PE vs Market
PEG Ratio
PB vs Industry

11.71x

Price to Book (PB) ratio

Share Price vs. Fair Value

Below Fair Value: Insufficient data to calculate BIGC's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate BIGC's fair value for valuation analysis.

Price To Earnings Ratio

PE vs Industry: BIGC is unprofitable, so we can't compare its PE Ratio to the US IT industry average.

PE vs Market: BIGC is unprofitable, so we can't compare its PE Ratio to the US market.

Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate BIGC's PEG Ratio to determine if it is good value.

Price to Book Ratio

PB vs Industry: BIGC is overvalued based on its PB Ratio (11.7x) compared to the US IT industry average (3.1x).

Future Growth

How is BigCommerce Holdings forecast to perform in the next 1 to 3 years based on estimates from 15 analysts?

Future Growth Score

1/6

Future Growth Score 1/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

27.0%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: BIGC is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: BIGC is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: BIGC is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: BIGC's revenue (18% per year) is forecast to grow faster than the US market (8% per year).

High Growth Revenue: BIGC's revenue (18% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: BIGC is forecast to be unprofitable in 3 years.

Past Performance

How has BigCommerce Holdings performed over the past 5 years?

Past Performance Score

0/6

Past Performance Score 0/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

-25.3%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: BIGC is currently unprofitable.

Growing Profit Margin: BIGC is currently unprofitable.

Past Earnings Growth Analysis

Earnings Trend: BIGC is unprofitable, and losses have increased over the past 5 years at a rate of 25.3% per year.

Accelerating Growth: Unable to compare BIGC's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: BIGC is unprofitable, making it difficult to compare its past year earnings growth to the IT industry (21.9%).

Return on Equity

High ROE: BIGC has a negative Return on Equity (-95.72%), as it is currently unprofitable.

Financial Health

How is BigCommerce Holdings's financial position?

Financial Health Score

5/6

Financial Health Score 5/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Stable Cash Runway
Forecast Cash Runway

Financial Position Analysis

Short Term Liabilities: BIGC's short term assets ($433.2M) exceed its short term liabilities ($64.8M).

Long Term Liabilities: BIGC's short term assets ($433.2M) exceed its long term liabilities ($360.3M).

Debt to Equity History and Analysis

Debt Level: BIGC has more cash than its total debt.

Reducing Debt: Insufficient data to determine if BIGC's debt to equity ratio has reduced over the past 5 years.

Balance Sheet

Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: BIGC has sufficient cash runway for more than 3 years based on its current free cash flow.

Forecast Cash Runway: BIGC has sufficient cash runway for more than 3 years if free cash flow continues to reduce at historical rates of 4.6% each year

Dividend

What is BigCommerce Holdings's current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Future Dividend Coverage

Dividend Yield vs Market

Notable Dividend: Unable to evaluate BIGC's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate BIGC's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.

Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if BIGC's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if BIGC's dividend payments have been increasing.

Earnings Payout to Shareholders

Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as BIGC has not reported any payouts.

Next Steps

Explore strong dividend paying companies in the Software industry.

Management

How experienced are the management team and are they aligned to shareholders interests?

3.8yrs

Average management tenure

CEO

Brent Bellm (49 yo)

6.92yrs

Tenure

US$7,387,604

Compensation

Mr. Brent Bellm has been the Chairman of the Board, President and Chief Executive Officer of BigCommerce Holdings, Inc. since June 2015 and serves as its Director. Mr. Bellm has been the Chief Executive Of...

CEO Compensation Analysis

Compensation vs Market: Brent's total compensation ($USD7.39M) is above average for companies of similar size in the US market ($USD5.45M).

Compensation vs Earnings: Brent's compensation has increased whilst the company is unprofitable.

Leadership Team

Experienced Management: BIGC's management team is considered experienced (3.8 years average tenure).

Board Members

Experienced Board: BIGC's board of directors are considered experienced (5.4 years average tenure).

Ownership

Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.

Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 3.4%.

Data	Last Updated (UTC time)
Company Analysis	2022/05/16 00:00
End of Day Share Price	2022/05/16 00:00
Earnings	2022/03/31
Annual Earnings	2021/12/31