BigCommerce’s second quarter results were met with a positive market response, reflecting progress in profitability and strategic execution. Management credited improvements in operating efficiency and margin expansion to targeted investments in its go-to-market strategy and the deliberate separation of its B2B business. CEO Travis Hess emphasized that the company’s rebrand and focus on providing AI-driven commerce solutions, particularly through its Feedonomics product, positioned it well as brands grapple with the impact of new answer engines and generative AI on customer discovery and engagement. Hess noted, “There’s a tremendous amount of demand and sense of urgency around particularly discoverability right now.”
Is now the time to buy BIGC? Find out in our full research report (it’s free).
BigCommerce (BIGC) Q2 CY2025 Highlights:
- Revenue: $84.43 million vs analyst estimates of $83.32 million (3.2% year-on-year growth, 1.3% beat)
- Adjusted EPS: $0.04 vs analyst estimates of $0.04 (in line)
- Adjusted Operating Income: $4.78 million vs analyst estimates of $3.23 million (5.7% margin, 47.9% beat)
- The company reconfirmed its revenue guidance for the full year of $343.1 million at the midpoint
- Operating Margin: -8%, up from -16.5% in the same quarter last year
- Annual Recurring Revenue: $354.6 million vs analyst estimates of $354.7 million (2.5% year-on-year growth, in line)
- Billings: $91.51 million at quarter end, up 2.3% year on year
- Market Capitalization: $348 million
While we enjoy listening to the management's commentary, our favorite part of earnings calls are the analyst questions. Those are unscripted and can often highlight topics that management teams would rather avoid or topics where the answer is complicated. Here is what has caught our attention.
Our Top 5 Analyst Questions From BigCommerce’s Q2 Earnings Call
- Raimo Lenschow (Barclays) asked about changing customer sentiment as answer engines impact commerce. CEO Travis Hess noted urgency among merchants to improve discoverability, but said tariff impacts remain limited so far.
- Hoi-Fung Wong (Oppenheimer) inquired whether success of the rebrand and product suite would be evident before 2026. Hess responded that early signs of growth should appear in sales pipeline and client wins, but major revenue impact is likely next year.
- Natalie Howe (Bank of America) pressed for details on B2B adoption and integration. Hess explained that complex B2B use cases and partnerships like PROS are expanding the market, while CFO Daniel Lentz highlighted cross-selling as a driver of average revenue per account.
- David E. Hynes (Canaccord) asked if BigCommerce sees its future more as a platform or a data orchestration layer. Hess said both remain important, but the mix may shift as AI reshapes commerce, and Lentz sees Feedonomics outgrowing the platform business.
- Gabriela Borges (Goldman Sachs) questioned the real-world impact of agentic search on customer traffic. Hess acknowledged a substantial drop in organic search for many brands, which is pushing demand for data optimization and rapid adaptation to new discovery methods.
Catalysts in Upcoming Quarters
Looking forward, our analysts are monitoring (1) the pace and scale of adoption for AI-powered features and agentic commerce partnerships, (2) the rollout and initial traction of self-serve Feedonomics and Makeswift within the platform, and (3) operational efficiency as investments in go-to-market and product development continue. The progress of the branded payments solution and broader partner integrations will also be important markers for future growth.
BigCommerce currently trades at $4.99, up from $4.77 just before the earnings. In the wake of this quarter, is it a buy or sell? See for yourself in our full research report (it’s free).
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