BigCommerce Holdings, Inc. reported a total revenue of $332.9 million for the fiscal year ending December 31, 2024, marking a 7.6% increase from $309.4 million in the previous year. The growth was driven by an 8.1% rise in subscription solutions revenue, which reached $247.9 million, and a 6.2% increase in partner and services revenue, totaling $85.1 million. Despite this revenue growth, the company continued to experience net losses, reporting a net loss of $27.0 million for 2024, an improvement from a loss of $64.7 million in 2023.
In terms of operational metrics, BigCommerce served 5,884 enterprise accounts as of December 31, 2024, a slight decrease from 5,994 in the previous year. The annual recurring revenue (ARR) attributable to these enterprise accounts was $261.6 million, representing 75% of total ARR. The company also reported a net revenue retention rate of 99% for enterprise accounts, indicating a stable customer base despite the challenges faced in the market.
Strategically, BigCommerce has focused on enhancing its product offerings and expanding its market presence. The company completed the acquisition of Makeswift, a visual editor for Next.js websites, in October 2023 for approximately $9.2 million. This acquisition is expected to bolster BigCommerce's capabilities in providing tailored ecommerce solutions. Additionally, the company has been restructuring its operations to improve efficiency and profitability, which included workforce reductions and a shift in its go-to-market strategy.
Geographically, BigCommerce has seen revenue growth across various regions, with the Americas (excluding the U.S.) growing by 11.1%, EMEA by 9.7%, and APAC by 6.7%. The company continues to expand its international footprint, serving customers in over 150 countries. As of December 31, 2024, BigCommerce had 1,161 employees, with approximately 70% based in the United States.
Looking ahead, BigCommerce aims to leverage its strategic partnerships and enhance its product offerings to drive future growth. The company plans to continue investing in its B2B, B2C, and small business segments while focusing on improving its operational efficiency. However, the company also acknowledged the ongoing challenges posed by market conditions, including inflation and geopolitical tensions, which could impact its performance in the coming fiscal periods.
About BigCommerce Holdings, Inc.
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