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ChannelAdvisor Reports Record Revenue For Q3 2021

The Q3 financial reports continue to roll out and in the latest report from ChannelAdvisor, they have announced a record quarter for the company. Unlike so many other companies in Q3 2021 that have missed the expectations from Wall St, ChannelAdvisor has managed to exceed them for this quarter.

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There seems to be a pattern emerging where eCommerce solutions providers like ChannelAdvisor and BigCommerce are still seeing success and hitting targets whereas the marketplaces are struggling to keep up with the growth experienced in 2020.

You can see the highlights from the ChannelAdvisor Q3 report below, and for the full statement including financial guidance click here.

ChannelAdvisor Q3 2021 Highlights


  • Record revenue of $41.6 million, up 18% year-over-year
  • Subscription revenue growth accelerated for the 5th consecutive quarter to 26% year-over-year
  • Record brands revenue increased 45% year-over-year
  • Brands subscription revenue growth of 52% year-over-year and represented 47% of total subscription revenue
  • Brands customer count increased 29% year-over-year
  • Cash and cash equivalents were $97.0 million, an increase of $30.7 million since September 30, 2020 and an increase of $6.7 million since June 30, 2021


  • Adjusted EBITDA of $8.2 million and adjusted EBITDA margin of 20%
  • Free cash flow for the nine months ended September 30, 2021 of $22.8 million, or $0.73 per diluted share based on 31.3 million diluted weighted average shares outstanding

“We continued to execute extremely well in Q3, driving strong growth, record revenue, and adjusted EBITDA that exceeded the high-end of our guidance range for the quarter,”

“This growth is especially impressive considering it’s on top of last year’s elevated e-commerce volumes. The strength in our business is a direct result of our brands’ strategy and the growth investments we’ve been making to empower their digital transformations.

We believe our focus on product innovation, channel expansion, strong sales, and revenue retention positions us well to drive sustainable double-digit revenue growth and adjusted EBITDA margin of at least 20%, consistent with the long-term financial targets we provided at our recent analyst day.”

David Spitz, CEO, ChannelAdvisor

Recent Business Highlights

We believe the following highlights are additional indicators of our position as a leading multichannel commerce platform for brands:

  • Continued product innovation: ChannelAdvisor recently released A/B Testing for Product Content in order to empower brands to increase the likelihood of conversion by identifying the best performing product content to support efforts on Google and Facebook. ChannelAdvisor also launched Commerce Network, an in-platform experience that enables online channels to easily scout, engage and grow with brands and retailers looking to diversify in the highly competitive e-commerce landscape. ChannelAdvisor also released Self-Service Buy Now Interstitial, a major new Shoppable Media capability that allows self-service clients to build powerful social media campaigns that include a path to purchase on preferred retailers.
  • 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 200 channels. New global integrations include CDON, the leading marketplace in the Nordic region, in Sweden, Norway, Denmark and Finland; in Belgium and the Netherlands; Rakuten in France; and The Iconic in Australia. The company also added support for first-party integrations in the U.S. with Ashley Furniture, Belk, Gamestop, Lord & Taylor, Orange Theory and Tanguay.
  • Industry leadership: Named a Google Premier Partner Awards finalist in two categories for effective campaigns that drove online sales. ChannelAdvisor is recognized in the Online Sales and Account Team categories, highlighting companies that drive online sales in moments of shopper deliberation and discovery and teams that deliver advertiser growth through best-in-class digital campaigns.
  • New customers: ChannelAdvisor recently added notable new customers including Master Lock, Detroit Diesel, Sennheiser, Xiaomi and Natural Balance Pet Foods. ChannelAdvisor also expanded its relationship with customers such as ASICS, Calzedonia and Geox.

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