MORRISVILLE – ChannelAdvisor Corp. (ECOM) on Thursday reported fourth-quarter profit of $33.7 million on record revenue – and a profit for the year.
The Morrisville-based e-commerce services company said it had net income of $1.06 per share. Earnings, adjusted for pretax gains, came to 21 cents per share.
And CEO David Spitz was enthusiastic to say the least when discussing the results.
- “Q4 marked an outstanding finish to an amazing year for ChannelAdvisor,” Spitz said in a statement. He went on to stress several points:
- “Our strategic focus on brands continued to drive solid results, with record revenue, adjusted EBITDA that significantly exceeded the high end of our guidance, and strong free cash flow that pushed our cash balance above $100 million.
- “Our land and expand strategy with brands fueled these results, as we saw a strong increase in brands customer count and continued growth in average revenue per customer and annual recurring revenue during the year.
- “We have a large, unpenetrated market opportunity, and believe with our continued focus on product innovation, channel expansion, strong sales and revenue retention, as well as a debt free balance sheet, that we’re well positioned to drive sustainable revenue growth and strong margins in 2022 and beyond.”
The provider of cloud-based e-commerce services posted revenue of $45.4 million in the period.
For the year, the company reported profit of $47.2 million, or $1.50 per share. Revenue was reported as $167.7 million.
For the current quarter ending in April, ChannelAdvisor said it expects revenue in the range of $41.9 million to $42.3 million.
Key points
ChannelAdvisor in its earnings report stressed what it believes are key points in its growth:
- Continued Product Innovation: ChannelAdvisor introduced new interactive analytics in its Advertising Console to help brands quickly discover trending information on all retail media campaigns. ChannelAdvisor also launched new options for advertisers with native integration for TikTok feeds and additional support for Walmart Sponsored Products Campaigns through Item BuyBox and Carousel Placements. For its recently launched Commerce Network, an in-platform experience that enables online channels to easily scout, engage and grow with brands and retailers, ChannelAdvisor launched enhancements including Multiple Seller Profiles which enables sellers to differentiate how their brands, verticals, and business units are discovered by and promoted to different channels.
- Continued Channel Expansion: ChannelAdvisor remains laser-focused on global channel expansions to help address the evolving business needs of brands and retailers worldwide. With the recent addition of many new integrations, ChannelAdvisor now supports over 300 channels. New global integrations include AliExpress in China, Brazil, France, Italy, Spain and Turkey; Back Market in Germany, Spain, Greece, Ireland, Italy, Portugal, Sweden and Slovakia; Hudson Bay in Canada and the U.S.; and Idealo and Limango in Germany. The company also added support for first-party integrations with Amazon across 17 countries, and in the U.S. with DSW, Journey’s, Martha Stewart and Urban Outfitters.
- Industry leadership: Named the #1 channel management vendor for the 10th consecutive year in Digital Commerce 360’s ‘Leading Vendors to the Top 1000 Retailers’ report. ChannelAdvisor is also ranked as the fourth-leading search engine marketing vendor, and a leading provider of online advertising services.
- New customers: ChannelAdvisor recently added notable new customers including Reynolds Consumer Products, Crown Pet Foods, Arnott’s Biscuits and De Longhi. ChannelAdvisor also expanded its relationship with customers such as Viewsonic, Sennheiser and Clorox.
Read the full earnings report online.
