The following is a summary of the BigCommerce Holdings, Inc. (BIGC) Q1 2024 Earnings Call Transcript:

Financial Performance:

• BigCommerce reported Q1 revenue of $80 million, a 12% increase YoY.

• Adjusted EBITDA stands at $4 million, approximately 5% of revenue.

• Improvement of over 25 percentage points in free cash flow as a percentage of revenue YoY.

• Total revenue for Q1, with an ARR of around $340 million.

• Improved Contracted Recurring Revenue Performance Obligations (CRPO) by 21% this quarter.

• Focusing on a balance between efficient revenue growth and profitability, addressing an expansion of margins and cash flow operations.

Business Progress:

• The company is prioritizing customer retention and satisfaction alongside new customer acquisition for efficient revenue growth.

• Operational changes for improved management of net retention and sales pipeline are being implemented.

• More than 100 platform enhancements, features, and partner integrations revealed at the 'Next Big Thing' event.

• Multi-geography selling and same-day fulfillment and delivery capabilities announced.

• The company is making changes in its approach to contracts with prepayment being a priority, improving bookings to revenue translation, revenue to profit, and profit to cash flow.

• Ongoing investments in CRM and marketing automation systems aim to improve cross-selling and customer success.

• The company sees impressive B2B edition GMV growth of over 50% YoY.

• The roll-out of new features across the BigCommerce platform aims at enhancing competitive advantage and customer experience.

• BigCommerce has recently entered the instant commerce market with Feedonomics technology for local same-day deliveries.

• The company plans for geographic expansion by re-accelerating its growth rate in Europe with locally optimized storefronts.

More details: BigCommerce Holdings IR

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