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WeCommerce Holdings Ltd. (V:WE)

Business Focus: Software (NEC)

Sector:  Technology Industry:  Software
See Regulatory Filings on SEDAR
Company Contact
Address: #101 - 524 Yates Street, Null
Tel: 1-949-5743860
IR: See website
Key People
Alexander Persson
Chief Executive Officer
David Charron
Chief Financial Officer
Ben Moore
Senior Vice President
Susan Min
General Counsel, Company Secretary
Business Overview
WeCommerce Holdings Ltd. is a Canada-based company, which provides merchants with e-commerce software tools to start and grow their online stores. The Company invests in businesses who develop, sell, and support website themes and applications, as well as providing custom solutions, for clients on e-commerce platforms. Its brands include Pixel Union, Out of the Sandbox, KnoCommerce, Archetype, Yopify, SuppleApps, Rehash, Foursixty and Stamped. The Company operates through three segments: Apps, Themes, and Agency. Its Apps segment helps merchants build their businesses, integrate with off-platform services, and add features to their online stores. Its Themes segment offers designs and layouts which allow a merchant to customize the appearance of their online store. In the Agency segment, customers hire a portfolio company as their design agency to create or modify their business websites. Its subsidiaries include WeCommerce Operations Ltd. and Pixel Union Design Ltd., among others.
Financial Overview
For the nine months ended 30 September 2022, WeCommerce Holdings Ltd revenues increased 34% to C$35.2M. Net loss increased from C$5M to C$10.2M. Revenues reflect Apps segment increase of 52% to C$22.8M, Themes segment increase of 39% to C$9.8M. Higher net loss reflects Staff increase of 78% to C$17.8M (expense), Foreign exchange loss increase from C$1.4M to C$4.5M (expense).
Reporting Currency: Canadian Dollars
Enterprise value: $202.21M as of Sep 30, 2022
Annual revenue (TTM): $47.42M as of Sep 30, 2022
EBITDA (TTM): $5.19M as of Sep 30, 2022
Net annual income (TTM): -$6.08M as of Sep 30, 2022
Free cash flow (TTM): $10.76M as of Sep 30, 2022
Net Debt Last Fiscal Year: $40.08M as of Sep 30, 2022
Shares outstanding: 41,616,589 as of Jan 17, 2023
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization