BigCommerce Holdings, Inc. offers a comprehensive software-as-a-service (SaaS) platform, catering to a diverse clientele that ranges from small businesses to large enterprises. ...
BigCommerce Holdings, Inc. (NASDAQ: BIGC) provides an open, subscription-based software-as-a-service (SaaS) platform for e-commerce merchants. The company’s core purpose is to help businesses create and grow online storefronts—from initial launch through ongoing optimization—by supplying the essential technology stack required to sell products online. From a product perspective, BigCommerce’s platform includes ...BigCommerce Holdings, Inc. (NASDAQ: BIGC) provides an open, subscription-based software-as-a-service (SaaS) platform for e-commerce merchants. The company’s core purpose is to help businesses create and grow online storefronts—from initial launch through ongoing optimization—by supplying the essential technology stack required to sell products online.
From a product perspective, BigCommerce’s platform includes capabilities such as storefront and theme tooling for design and customization, product and catalog management, secure hosting and checkout, order management and fulfillment workflows, and analytics/reporting for operational visibility. It also emphasizes extensibility through numerous pre-built integrations, enabling merchants to connect their stores with third-party systems and services (for payments, fulfillment, marketing, and other operational needs).
Commercially, BigCommerce serves a broad range of clients, spanning small businesses through enterprise-level organizations. The provided information indicates a large installed base, including support for approximately 60,000 online storefronts as of December 31, 2021, with operations spanning the United States and international regions (Europe, the Middle East, Africa, and Asia-Pacific). This scale suggests the platform must handle multi-tenant SaaS requirements—reliability, performance, and security—while supporting varied business processes across industries.
Financial/cost orientation: as a SaaS company, the platform’s cost structure typically centers on ongoing software development, cloud hosting and infrastructure, customer support, and sales/marketing, rather than inventory or physical fulfillment costs. The dataset includes liquidity and profitability ratios that reflect ongoing operating performance (e.g., margins and returns) but does not provide specific segment-level BOM-style details; as such, specific unit economics or cost-per-merchant figures cannot be reliably derived from the provided data alone.
Key people: the dataset identifies Christopher Travis Hess as CEO. It also references leadership changes in 2024 (Travis Hess replacing Brent Bellm) and the subsequent 2025 launch of a new parent brand (“Commerce”), indicating corporate branding/structure evolution while continuing to operate through the BigCommerce platform.
In terms of corporate wishes/trajectory, the move to introduce a broader parent brand signals an intention to connect multiple commerce-related offerings under a unified umbrella, while continuing to position BigCommerce as an enterprise-ready yet flexible platform for momentum-driven growth.
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$342.3M
+2.8%
-2.7%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$-19.3M
+28.4%
-70.4%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
+78.7%
+2.7%
-2.1%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
-4.7%
+62.2%
-51.8%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
-5.6%
+30.4%
-69.6%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$18.8M
-16.6%
-99.6%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
+5.5%
-18.9%
-99.6%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
420.6%
-36.4%
-9.5%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
1.98x
-30.6%
+2.5%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.
Operator: Welcome to Commerce's Second Quarter 2026 Earnings Call. The call is being recorded. [Operator Instructions]
Tyler Duncan: Thank you. Good morning, and welcome to Commerce’s second quarter of 2026 earnings call. We will be discussing the results announced in our press release issued before today's market open. With me are Commerce’s Chief Executive Officer, Travis Hess, and Chief Financial Officer and Chief Operating Officer, Daniel Lentz. Today's call will contain certain forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning financial and business trends, as well as our expected future business and financial performance, financial condition, and our guidance for both the third quarter of 2026 and the full year 2026. These statements can be identified by words such as expect, anticipate, intend, plan, believe, seek, committed, will, or similar words. These statements reflect our views as of today only and should not be relied upon as representing our views at any subsequent date, and we do not undertake any duty to update these statements. Forward-looking statements, by their nature, address matters that are subject to risks and uncertainties that could cause actual results to differ materially from expectations. For a discussion of the material risks and other important factors that could affect our actual results, please refer to the risks and other disclosures contained in our filings with the Securities and Exchange Commission. During the call, we will also discuss certain non-GAAP financial measures which are not prepared in accordance with generally accepted accounting principles. A reconciliation of these non-GAAP financial measures to the most directly comparable GAAP financial measure, as well as how we define these metrics and other metrics, is included in our earnings press release, which has been furnished to the SEC and is also available on our website at investors.commerce.com. With that, let me turn the call over to Travis.
Christopher Hess: Q2 2026 was another quarter of steady execution for Commerce. We delivered revenue of $84.5 million, within our guidance range, and non-GAAP operating income of $8.1 million, above the high end of our guidance range of $4 million to $5 million. GMV grew 14% year-over-year to $8.8 billion. We generated positive GAAP net income for the second consecutive quarter, and net revenue retention improved sequentially for the third consecutive quarter to 95.8%. These results reinforce the priority that we've discussed over the past several quarters, building a business with a more durable earnings profile. We believe the structural changes we are making are improving the quality of our revenue, strengthening execution, and positioning Commerce for more sustainable long-term growth. As we look to the second half of the year, we are also making several …
