Bigcommerce Holdings . Series 1 Common Stock Stock Earnings Reports

Commerce reported a strong Q1 2026: revenue of $86.8M (up 5% YoY), GMV of $8.3B (up 14% YoY), non-GAAP operating income of $12.4M, and its first GAAP net income ($3.7M). Operating cash flow was $18.4M and free cash flow $14.1M; cash and marketable securities ended at ~$157M with no material debt maturities until 2028 and net debt eliminated a quarter ahead of plan. ARR was $359.8M. Management is reframing Commerce as a three-layer, data-centric platform (Feedonomics = product intelligence, Makeswift = experience, BigCommerce = transaction) designed for agentic/AI-driven commerce and B2B complexity. Key product moves: launched BigCommerce Payments with PayPal, built to Google’s Universal Commerce Protocol, live Agentic Checkout integrations (Perplexity, Copilot, Meta via PayPal StoreSync), BigCommerce Companion AI, MCP for agent integrations, and improvements to checkout, promotions, multi-language support and B2B features. Pricing/packaging changes take effect June 1 (renamed plans; a fee will apply for orders processed through payment providers outside their embedded list, though enterprise/negotiated customers are exempt). Guidance: Q2 revenue $84.5M–$85.5M, non-GAAP op income $4M–$5M; full-year reaffirmed revenue $347.5M–$369.5M and non-GAAP op income $34M–$53M (2%–8% growth implied). Management emphasized focus on NRR improvement, retention/expansion via cross-sell (Surface, Feedonomics, payments), continued R&D hiring, and execution on monetization levers. The Board also adopted a limited-duration shareholder rights plan after receiving a low-priced proposal.