MORRISVILLE – ChannelAdvisor (ECOM) on Friday reported first-quarter earnings of $1.8 million.
On a per-share basis, the Morrisville-based ecommerce services provider said it had net income of 6 cents. Earnings, adjusted for stock option expense and non-recurring costs, were 17 cents per share.
The company posted revenue of $42.3 million in the period.
- MORE COVERAGE: Read the full earnings report online.
For the current quarter ending in July, ChannelAdvisor said it expects revenue in the range of $42.5 million to $43 million.
It expects full-year revenue in the range of $177 million to $180 million.
“We once again delivered strong financial results in Q1, with revenue that reached the high-end of our guidance range and adjusted EBITDA that exceeded the high-end of our guidance range,” said David Spitz, ChannelAdvisor’s chief executive officer. “Subscription revenue performed particularly well, increasing 17% year-over-year. This is a direct result of our brands-focused strategy coupled with solid execution, despite slowing e-commerce growth and a more challenging macro environment as we emerge from COVID. With over $100 million of cash, no debt, market leadership and a large opportunity in front of us, we remain excited about what the future holds for ChannelAdvisor.”
