ChannelAdvisor Reports Loss, But Beats Expectations

8/3/17

By Chris Roush, NC BIZ News

E-commerce software provider ChannelAdvisor Corp. reported a second-quarter loss that beat Wall Street expectations as its revenue per customer rose.

The Research Triangle Park-based company reported a net loss of $4 million, or a loss of 15 cents per share, compared to a loss of $6.7 million, or a loss of 26 cents per share, in the second quarter of 2016.

Excluding the cost of stock-based compensation, ChannelAdvisor reported a loss of 2 cents per share, better than the net loss of 10 cents per share expected by Wall Street.

Revenue rose 11 percent to $30 million in the quarter from $27.1 million in second quarter of 2016. Analysts were expecting revenue of $28.6 million.

“I was especially pleased to see our customers’ success translate into very strong variable revenue growth, helping us to drive the fastest revenue growth rate we’ve had in several quarters,” said Chief Executive Officer David Spitz in a statement.

ChannelAdvisors shares fell 10 cents to $10.97 in Thursday trading.

Average revenue per customer increased 11 percent to $41,029 for the 12 months ended June 30, compared with $37,000 for the 12 months ended June 30, 2016.

Total customer count was 2,906 at the end of the second quarter, compared with 2,878 customers at the end of the second quarter of 2016.

These metrics do not include approximately 50 net new customers acquired with ChannelAdvisor’s acquisition of HubLogix Commerce Corp. during the second quarter.

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