XML 25 R16.htm IDEA: XBRL DOCUMENT
v3.23.2

Commitments, Contingencies, and Leases | 6 Months Ended
--- | ---
Jun. 30, 2023
Commitments Contingencies And Leases [Abstract] |
Commitments, Contingencies, and Leases | 7. Commitments, contingencies, and leases Liabilities for loss contingencies arising from claims, assessments, litigation, fines, penalties, and other sources are recorded when it is probable that a liability has been incurred and that the amount can be reasonably estimated. Legal costs incurred in connection with loss contingencies are expensed as incurred. From time to time, we are subject to various claims that arise in the normal course of business. In the opinion of management, we are unaware of any pending or unasserted claims that would have a material adverse effect on our financial position, liquidity, or results. Certain executive officers are entitled to payments in the event of termination of employment in connection with a certain change in control. Leases We lease certain facilities under operating lease agreements that expire at various dates through 2028. Some of these arrangements contain renewal options and require us to pay taxes, insurance and maintenance costs. Renewal options were not included in the right-of-use asset and lease liability calculation. Operating and short-term rent exp enses was $0.7 million and $1.0 million for the three months ended June 30, 2023 and 2022, respectively, and was $1.5 mil lion and $2.0 million for the six months ended June 30, 2023 and 2022, respectively. Short-term rent expense was not material for any of the periods presented. Supplemental lease i nformation
Cash flow information (in thousands) |  | Six months ended June 30, |
|  | 2023 |  |  | 2022 |
Cash paid for operating lease liabilities |  | $ | 1,665 |  |  | $ | 2,092 |
7. Commitments, contingencies, and leases (continued)
Operating lease information |  | Six months ended June 30, |
|  | 2023 |  |  | 2022 |
Weighted-average remaining lease-term |  | 3.91 |  |  | 5.02 |
Weighted-average discount rate |  |  | 5.38 | % |  |  | 5.41 | %
The future maturities of operating lease liabilities are as f ollows:
(in thousands) |  | June 30, 2023 |
Remaining six months of 2023 |  | $ | 1,545 |
2024 |  |  | 2,957 |
2025 |  |  | 2,775 |
2026 |  |  | 2,528 |
2027 |  |  | 2,133 |
Thereafter |  |  | 718 |
Total minimum lease payments |  | $ | 12,656 |
Less imputed interest |  |  | (1,398 | )
Total lease liabilities |  | $ | 11,258 |
Restructuring charges In December of 2022, we executed a plan to reduce our cost structure (the “2022 Restructure”). The 2022 Restructure included workforce reduction initiatives which resulted in $3.6 million of severance and other compensation charges, $3.4 million of which was paid in the first quarter of 2023. Furthermore, we have $0.2 million recorded in other current liabilities as of June 30, 2023, in connection with the 2022 Restructure. We do not expect any more material charges under this plan. The 2022 Restructure also included the decision to cease using certain leased office space in Texas and to make this office space available for sublease in January 2023. As a result, in 2022, we evaluated the recoverability of our right-of-use assets and determined the carrying values were not fully recoverable. We calculated the impairment by comparing the carrying amount of the asset group to its estimated fair value based on inputs derived from market prices for similar assets. As a result, we impaired $3.7 million in right-of-use assets and have recorded this amount in Restructuring Charges on the accompanying consolidated statements of operations for the previous year ended December 31, 2022. The impairment charge represents the amount by which the carrying value exceeded the estimated fair value of the asset group. These charges were recorded within the operating expenses on the accompanying consolidated statement of operations.

X
- Definition Commitments, contingencies and leases. + References No definition available. + Details
Name: | bigc_CommitmentsContingenciesAndLeasesAbstract
Namespace Prefix: | bigc_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Commitments, contingencies, and leases. + References No definition available. + Details
Name: | bigc_CommitmentsContingenciesAndLeasesTextBlock
Namespace Prefix: | bigc_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration