ChannelAdvisor Cuts Q4 Revenue Outlook

(RTTNews) - ChannelAdvisor Corporation (ECOM), Monday said it expects fourth-quarter revenues to be about $23.7 million, down from prior outlook of $25.6 million to $26.1 million.

Analysts polled by Thomson Reuters expect revenues of $25.91 million for the quarter.

"We are disappointed that the fourth quarter did not meet our guidance. We saw an unusual shift of gross merchandise volume (GMV) to larger customers this holiday season at the expense of smaller customers. Because larger customers enjoy volume discounts in the form of lower take rates, this shift translated to lower variable subscription revenue, even though overall GMV increased 31% year over year for the fourth quarter," said Scot Wingo, CEO of ChannelAdvisor.