{
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  "documentTitle": "BigCommerce | Results Presentation Deck | 40 slides",
  "authorId": "bigcommerce",
  "authorName": "BigCommerce",
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  "documentKindLabel": "Conference presentation",
  "sourceTypeSlug": "investor_relations",
  "sourceTypeLabel": "Investor relations",
  "presentationDate": "2023-11-01 00:00:00",
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      "text": "Non-GAAP operating expense as % of revenue\n2019: Sales & Marketing 55%, Research & Development 38%, General & Administrative 17%, Operating margin (34%)\n2020: Sales & Marketing 48%, Research & Development 30%, General & Administrative 18%, Operating margin (18%)\n2021: Sales & Marketing 43%, Research & Development 27%, General & Administrative 19%, Operating margin (10%)\n2022: Sales & Marketing 46%, Research & Development 27%, General & Administrative 20%, Operating margin (17%)",
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      "text": "Non-GAAP operating expense as % of revenue\n1Q21: Sales & Marketing 43%, Research & Development 26%, General & Administrative 19%, Operating Margin (7%)\n2Q21: Sales & Marketing 43%, Research & Development 27%, General & Administrative 19%, Operating Margin (9%)\n3Q21: Sales & Marketing 43%, Research & Development 25%, General & Administrative 18%, Operating Margin (6%)\n4Q21: Sales & Marketing 45%, Research & Development 28%, General & Administrative 21%, Operating Margin (18%)\n1Q22: Sales & Marketing 48%, Research & Development 28%, General & Administrative 21%, Operating Margin (19%)\n2Q22: Sales & Marketing 45%, Research & Development 28%, General & Administrative 22%, Operating Margin (20%)\n3Q22: Sales & Marketing 44%, Research & Development 26%, General & Administrative 19%, Operating Margin (16%)\n4Q22: Sales & Marketing 43%, Research & Development 26%, General & Administrative 19%, Operating Margin (13%)\n1Q23: Sales & Marketing 42%, Research & Development 24%, General & Administrative 16%, Operating Margin (9%)\n2Q23: Sales & Marketing 42%, Research & Development 23%, General & Administrative 16%, Operating Margin (4%)\n3Q23: Sales & Marketing 42%, Research & Development 23%, General & Administrative 14%, Operating Margin (2%)",
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      "kind": "list",
      "text": "Sales & Marketing\nResearch & Development\nGeneral & Administrative",
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      "kind": "source-note",
      "text": "Note: In Q1 2023, we reclassified certain costs that we had previously included in general and administrative expense into sales and marketing expense. To maintain consistency between comparable periods, the equivalent change has been applied to prior periods. This change in classification had no effect on the reported results of our operations or cash flow. Note: Non-GAAP operating expenses and operating margin exclude the effect of stock-based compensation and related payroll tax expense. See appendix for reconciliation of Non-GAAP measures to GAAP. Amounts may not add due to rounding.",
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      "kind": "title",
      "text": "Q3 came within a “photo finish” of adjusted EBITDA profitability",
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      "arcName": "The Sequoia Pitch",
      "arcSlug": "sequoia-pitch",
      "beatName": "Financials",
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      "evidence": "Continued focus on high value enterprise accounts and resilient subscription revenue growth",
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