ChannelAdvisor: A Good Time To Change Your Opinion
Darspal S Mann
Darspal S Mann
ChannelAdvisor Making The Right Moves, But Revenue Growth Will Take Time
Thu, Aug. 4, 4:22 PM
Wed, Aug. 3, 5:35 PM
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Fri, Feb. 5, 5:38 PM
Fri, Feb. 5, 9:29 AM
- ChannelAdvisor (NYSE:ECOM) has jumped to $13.00 premarket after beating Q4 estimates with the help of 22% Y/Y customer GMV growth. The beat is overshadowing Q1 sales guidance of $24.6M-$25M (below a $25.4M consensus) and 2016 guidance of $111M-$113M (mostly below a $112.9M consensus).
- Q1 adjusted EBITDA guidance is at -$2.5M to -$1.5M. Full-year guidance is at $0-$3M (compares with 2015 adjusted EBITDA of $1.4M).
- On the earnings call (transcript), CEO David Spitz mentioned trailing 12 month average revenue per customer rose 10% Y/Y to more than $34,500, and that top-100 customers accounted for 29% of revenue (up from 26%) in Q3. Variable revenue rose 32%, something Spitz attributed to Amazon's share gains (Amazon is now ECOM's largest channel), pricing policy changes, strong growth at emerging marketplaces, and a mix shift towards larger clients.
- Lifting EPS: GAAP operating expenses fell by $600K Y/Y to $23.5M. ChannelAdvisor ended Q4 with $60.5M in cash and no debt.
- ChannelAdvisor's Q4 results, earnings release
Thu, Feb. 4, 4:28 PM
- ChannelAdvisor (NYSE:ECOM): Q4 EPS of $0.11 beats by $0.18.
- Revenue of $29.4M (+23.4% Y/Y) beats by $2.93M.
Wed, Feb. 3, 5:35 PM
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Wed, Jan. 13, 2:59 PM
- It's another ugly day for stocks, with the S&P down 2.1% and the Nasdaq 2.9%. Many high-beta tech names are naturally seeing even steeper declines.
- Major decliners include driver-assistance hardware/software provider Mobileye (MBLY -6.4%), travel reviews/bookings search site TripAdvisor (TRIP -5.8%), mobile payments provider/recent IPO Square (SQ -7%), online furniture leader Wayfair (W -6.2%), craft/vintage goods marketplace Etsy (ETSY -7.2%), SMB Web services provider Wix.com (WIX -7.9%), and CAD/CAM software leader Autodesk (ADSK -7.7%).
- Others include gaming headset vendor local reviews leader Yelp (YELP -6%), Turtle Beach (HEAR -19.5%), wireless charging tech developer Energous (WATT -14.2%), cloud HR software firm Paylocity (PCTY -7.3%), e-commerce software/services firm Shopify (SHOP -8.9%), e-commerce services firm ChannelAdvisor (ECOM -8.5%), mainframe/IT services provider Unisys (UIS -7%), and car-buying site TrueCar (TRUE -6.7%).
- Previously covered: Qorvo, Cimpress, Tableau, Multi-Fineline, LendingTree, Twitter
Nov. 6, 2015, 12:44 PM
Nov. 5, 2015, 7:38 PM
- ChannelAdvisor (NYSE:ECOM) has jumped to $10.77 after hours after beating Q3 estimates and guiding for Q4 revenue of $26.2M-$26.6M vs. a $26.2M consensus.
- Quarter-ending customer count was 2,910, down from 2,937 at the end of Q2 and up from 2,781 a year ago. Average revenue per customer (trailing 12 months) rose to $32,748 from $32,022 in Q2 and $31,375 a year ago. New clients included Dell, Chico's FAS, Fujitsu America, and Shoes.com.
- Lifting EPS: GAAP operating expenses fell by $1M Y/Y to $22.8M; $11.9M was spent on sales/marketing. Along with its results, ChannelAdvisor has announced the appointment of controller Richard Cornetta to the role of chief accounting officer. He'll report to recently-hired CFO Mark Cook.
- Q3 results, PR
Nov. 5, 2015, 4:24 PM
- ChannelAdvisor (NYSE:ECOM): Q3 EPS of -$0.07 beats by $0.10.
- Revenue of $24.4M (+16.4% Y/Y) beats by $0.54M.
Nov. 4, 2015, 5:35 PM
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Oct. 8, 2015, 10:30 AM
- ChannelAdvisor (ECOM -5.7%) reports clients selling on eBay (EBAY -6.3%) saw their same-store sales rise 1.1% Y/Y in September. That's down from 3.4% in August, well below U.S. e-commerce growth of ~15% (per comScore), and the slowest rate of growth over the last 12 months.
- Only a 13.3% increase in Motors same-store sales (down from 20% in August) kept eBay's growth positive. Auctions were down 31%, and fixed-price sales 0.7%.
- Amazon (AMZN -1.9%) fared better, with same-store sales rising 19.2%. However, that's down from August's 24.7%, and also a 12-month low. 35.9% of Amazon-related GMV relied on Amazon's fulfillment services (FBA), up from 29.9% a year ago, with sellers using FBA seeing 30.1% same-store growth.
- Google Shopping/Product Listing Ads (indirectly competes with Amazon) were strong, registering 46.1% same-store growth with the help of higher conversion rates. Some of their growth came at the expense of search ads (dominated by Google), which saw a 9.5% same-store decline.
Aug. 4, 2015, 5:38 PM
Aug. 4, 2015, 4:44 PM
- With a Q2 beat in tow, ChannelAdvisor (NYSE:ECOM) now expects 2015 revenue of $95.5M-$97M, at the high end of a prior $94M-$97M range and above a $95.3M consensus. Q3 guidance is at $23.5M-$24M, in-line with a $23.8M consensus.
- The e-commerce listing/monetization services firm has also improved its full-year adjusted EBITDA guidance to -$7M to -$9M from -$13M to -$16M. Q3 guidance is at -$1.5M to -$2.2M. Customer count rose by 44 Q/Q and 264 Y/Y in Q2 to 2,937.
- Along with the numbers, ChannelAdvisor has announced CFO John Baule is resigning, effective Aug. 31. He'll be replaced by Red Hat finance VP/controller Mark Cook.
- Shares have jumped to $11.50 AH.
- Q2 results, PR