E-commerce platform BigCommerce (Nasdaq: BIGC) continued to deliver strong results for the quarter. The company is counting on expanding its partnerships and platform capabilities to make bigger inroads into the market.

BigCommerce’s Financials

Revenue in the first quarter grew 41% to $46.7 million, ahead of the market’s expectations of $38.5 million. GAAP net loss of $8.5 million was higher than the previous year’s loss of $4 million. Non-GAAP net loss per share of $0.04 was better than the analyst expectations of $0.15 per share.

By segment, subscription solutions revenue increased 35.9% to $32 million. Partner and services revenue (PSR) grew 52.3% to $14.7 million and accounted for 31.4% of its Q1 revenue.

Among other business metrics, ARR from Enterprise accounts was up 58% to $112.4 million. The number of accounts greater than $2,000 in annual contract value (ACV) was up 17%. The average revenue per account (ARPA) of accounts greater than $2,000 in ACV was up 29% to $15,582.

For the second quarter of 2021, BigCommerce expects total revenue between $46.4 million and $46.9 million and non-GAAP operating loss between $8.1-$8.6 million. For the full year 2021, it expects total revenue between $196.7 million and $198.2 million and non-GAAP operating loss between $31-$32.5 million.

BigCommerce’s New Offerings and Partnerships

During the quarter, BigCommerce announced its partnership with Walmart, giving US vendors access to over 120 million consumers that visit Walmart.com monthly. Merchants will now be able to seamlessly connect e-commerce storefronts to Walmart’s marketplace giving consumers the convenience to buy from a larger selection of products and stores. Traditionally known for its stores, Walmart has become a force to be reckoned with for its e-commerce business as well. Earlier this year, Walmart had reported that its e-commerce sales grew 69% compared with its overall growth of 7%. The move will also help BigCommerce compete with rival Shopify which had already announced a partnership with Walmart early last year.

It continued to invest and innovate in building an Open SaaS e-commerce platform supported and integrated with its network of technology and agency partners. During the quarter, it added several capabilities such as Buy Online, Pick Up In-Store (BOPIS) capabilities, Promotions Manager, a Payment Provider SDK for third parties to easily build payment integrations, and native integration with Square Point of Sale (POS).

It collaborated with RANDEMRETAIL to launch the BOPIS capabilities targeted at small and medium-sized businesses. Its Promotions Manager is a unique tool that provides mid-market and enterprise merchants the ability to improve their marketing and inventory efforts. The Payment Provider SDK has been built on its open platform that provides local payment processors and systems integrators the ability to integrate payment gateways into BigCommerce. The native integration to Square Point of Sale will allow merchants to sell products both online and offline using Square.

Its stock is currently trading at $69.03 with a market cap of $4.76 billion. It hit a 52-week high of $162.50 in August last year and a 52-week low of $42.17 in May.