BigCommerce (BIGC): Company Overview — Stock Outlook, Earnings, Market Cap, Related Stocks, Headquarters
An open SaaS e-commerce platform for mid-to-large enterprises, supporting roughly 130,000 merchants across 150 countries through three products — BigCommerce, Feedonomics, and Makeswift. Listed on NASDAQ as BIGC, the company rebranded to Commerce.com (CMRC) in July 2025 and is currently pursuing an enterprise-focused strategy with profitability achieved. This article covers its business model, competitive positioning against Shopify, key risks, and related stocks.
SubscribeWhat Kind of Company Is BigCommerce?
BigCommerce Holdings, Inc. is an open SaaS e-commerce platform company founded in 2009 and headquartered in Austin, Texas, that serves enterprise customers. It was listed on NASDAQ under the ticker BIGC, but in July 2025 it rebranded to Commerce.com (CMRC). Through its three products — BigCommerce (the core platform), Feedonomics (product feed management), and Makeswift (an AI visual store builder) — it provides the online commerce infrastructure for mid-to-large B2C and B2B enterprises. More than 130,000 merchants across 150+ countries use the platform.
How does it make money?Subscription solution fees (~75%) and partner and service revenue (~25%) are the main sources of income. In 2025, full-year revenue was $342.3 million (+3% year-over-year).
| Revenue Mix | 2025 Metric | Description |
|---|---|---|
| Subscription Solutions | ARR $359.1 million | SaaS monthly and annual subscription fees; enterprise ARR accounts for 80% |
| Enterprise ARR | $287.2 million (+10%) | Mid-to-large enterprise customers; 10% growth in 2025 made it the core growth driver |
| GMV | ~$32 billion (+12%) | Total transaction value processed on the platform; expanding faster than revenue, providing operating leverage |
| Feedonomics | Partner revenue | Managed-service feed optimization for channels such as Amazon, Google, Meta, and TikTok |
In 2025, the company delivered non-GAAP net income of $20.7 million and operating cash flow of $27.4 million, completing its transition to profitability. Net Revenue Retention (NRR) stood at 95.2%, indicating mild net churn, but the enterprise-focused strategy is driving improvement.
📐 Market Cap and Company Size
BigCommerce (now Commerce.com) is a small-cap SaaS company. Its market capitalization is {{MARKET_CAP}}, roughly {{SAMSUNG_RATIO}} the market cap of Samsung Electronics. The company employs {{EMPLOYEES}} people, and its market cap has compressed sharply from more than $7 billion at its post-IPO peak in 2021.
📈 BigCommerce Outlook and Share Price Trends
The company is pursuing the large enterprise market through an AI-based "agentic commerce" strategy and the Commerce.com rebrand. Enterprise ARR growth of +10% and GMV expansion of +12% are positives, but overall revenue growth is only +3%. An AI search partnership with Perplexity AI and a B2B price-optimization collaboration with PROS Holdings are emerging growth drivers. Shopify's dominant market position remains the most significant competitive pressure.
⚔️ Core Competitive Strengths and Risks
BigCommerce's strengths lie in its open, composable architecture and enterprise-focused strategy, but the gap with Shopify and slowing growth are the key risks.
💪 Core Competitive Strengths
⚠️ Core Risks
🔄 Competitors and Related Stocks (Beneficiaries)
The most direct competitor is the e-commerce platform heavyweight Shopify (SHOP). Salesforce Commerce Cloud (CRM) and Adobe Commerce (ADBE) compete in the large-enterprise market.
Related stocks (beneficiaries) are the partners within the BigCommerce ecosystem. Amazon (AMZN), Google (GOOGL), and Meta (META) — the channels that Feedonomics supplies feeds to — share in the upside of e-commerce growth. Payments partner PayPal (PYPL) is also integrated.
Check the real-time share prices and key metrics for competitors and related stocks in the table below.
✅ Investor Checklist
BigCommerce (now Commerce.com) is a small-to-mid-cap enterprise e-commerce SaaS company that has achieved profitability. The keys to reigniting growth are its enterprise focus and the transition to AI commerce.
| Checkpoint | What to Verify | Current Status |
|---|---|---|
| 📊 Enterprise ARR | Is enterprise ARR maintaining growth of 10% or more? | ✅ +10% in 2025, reaching $287.2 million |
| 💰 Profitability | Are non-GAAP net income and operating cash flow sustainably positive? | ✅ Non-GAAP net income $20.7 million, OCF $27.4 million |
| 📈 NRR Improvement | Is Net Revenue Retention trending back toward 100%? | ⚠️ 95.2%; monitor for a return to 100% |
| 🤖 AI Commerce | Are agentic commerce and AI partnerships translating into new ARR? | ⚠️ Perplexity and PROS partnerships still in early stages |
Competition with Shopify in the e-commerce platform market is a long-term challenge, and winning large enterprise customers is essential for the AI commerce transition to succeed.
Overall, BigCommerce (CMRC) is an enterprise e-commerce SaaS company that has achieved profitability, and if it can accelerate enterprise ARR growth and execute on its AI commerce strategy, the stock has the potential for a re-rating.
On US Stock Today's real-time dashboard, you can check BigCommerce's live quotes, technical indicators, and peer comparisons at a glance.
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