RTTNews | May 12, 2021 09:55AM EDT

09:54 Wednesday, May 12, 2021 (RTTNews.com) - Shares of BigCommerce Holdings Inc. (BIGC) are rising over 3% Wednesday morning, after the company issued upbeat revenue guidance for the second quarter and full year 2021, while reporting improved Q1 results.

The stock, which has been trading in the range of $43.80 - $162.50 for the past one year, is currently trading at $48.01, up $1.53 or 3.30%, with trading volume of 625K more versus an average volume of 1.77 million shares.

Q2, FY21 Outlook

The company expects total revenue for the second quarter to be in the range of $46.4 million - $46.9 million, translating into a year-over-year growth rate of 28% - 29%, and revenue for fiscal 2021 to range between $196.7 million and $198.2 million, translating into a year-over-year growth rate of 29% - 30%. Wall Street analysts estimate revenue of $45.67 million for the second quarter, and $190.64 million for the fiscal year 2021.

Further, the company projects non-GAAP operating loss to be $8.1 million - $8.6 million for the second quarter, and non-GAAP operating loss of $31 million - $32.5 million for the year 2021.

Q1 Results

The company reported Q1 GAAP net loss of $8.5 million or $0.12 per share compared to a loss of $4.0 million or $0.31 per share last year.

On a non-GAAP basis, net loss was $3.1 million or $0.04 per share, narrower than the previous year's loss of $7.4 million or $0.40 per share.

Analysts polled by Thomson Reuters expected a loss of $0.11 per share for the quarter. Analysts' estimate typically exclude certain special items.

Total revenue was $46.7 million, up 41% compared to the first quarter of 2020.

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