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CMRC

Commerce.com, Inc.

CMRC

Commerce.com, Inc. • NASDAQ
$4.59 ▼ -0.22% (-0.01)
Market Cap $372.94 M
52w High $7.99
52w Low $4.14
Dividend Yield 0%
P/E -27
Volume 222.91K
Outstanding Shares 81.25M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $86.029M ▲ $67.869M ▼ $-2.243M ▲ -2.607% ▲ $-0.03 ▲ $3.172M ▲
Q2-2025 $84.433M ▲ $73.481M ▲ $-8.382M ▼ -9.927% ▼ $-0.1 ▼ $-1.551M ▼
Q1-2025 $82.37M ▼ $67.796M ▼ $-353K ▲ -0.429% ▲ $0 ▲ $7.21M ▲
Q4-2024 $87.028M ▲ $68.303M ▼ $-2.39M ▲ -2.746% ▲ $-0.03 ▲ $4.119M ▲
Q3-2024 $83.71M $83.064M $-6.993M -8.354% $-0.09 $-1.436M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $142.026M ▲ $309.465M ▲ $266.63M ▲ $42.835M ▲
Q2-2025 $134.455M ▲ $302.534M ▲ $263.768M ▲ $38.766M ▲
Q1-2025 $120.712M ▼ $286.288M ▼ $248.213M ▼ $38.075M ▲
Q4-2024 $178.16M ▲ $340.289M ▲ $306.92M ▲ $33.369M ▲
Q3-2024 $168.396M $335.148M $306.162M $28.986M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-2.243M ▲ $10.553M ▼ $-6.796M ▲ $-110K ▼ $3.647M ▲ $7.586M ▼
Q2-2025 $-8.382M ▼ $13.557M ▲ $-21.223M ▼ $1.847M ▲ $-5.819M ▲ $11.906M ▲
Q1-2025 $-353K ▲ $401K ▼ $17.365M ▼ $-54.874M ▼ $-37.108M ▼ $-2.868M ▼
Q4-2024 $-2.39M ▲ $12.36M ▲ $42.649M ▲ $-1.608M ▲ $53.401M ▲ $11.573M ▲
Q3-2024 $-6.993M $5.573M $9.251M $-112.077M $-97.253M $4.509M

Revenue by Products

Product Q3-2024Q4-2024Q1-2025Q2-2025
Partner And Services
Partner And Services
 $20.00M ▲$20.00M ▲$20.00M ▲$20.00M ▲
Subscription and Circulation
Subscription and Circulation
 $60.00M ▲$60.00M ▲$60.00M ▲$60.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has grown steadily each year, and gross profit has kept pace, showing that the core business is gaining scale and maintaining healthy pricing and cost control at the product level. However, the company is still running at an operating loss, even though those losses have been shrinking over time. Net losses and per‑share losses have improved meaningfully, but the business has not yet crossed into consistent profitability, which keeps execution risk on the income statement side.

Balance Sheet

Balance Sheet The balance sheet shows a business that has relied heavily on debt while steadily eroding its equity base through ongoing losses. Total assets have drifted down recently, and the cash balance is modest relative to the debt load. Equity is now quite thin, which means there is a smaller buffer to absorb future setbacks. The structure suggests limited financial flexibility and a need for careful balance between growth investment and balance‑sheet risk.

Cash Flow

Cash Flow Cash generation is a relative bright spot: operating cash flow has recently turned positive after several years of outflows, and free cash flow has followed the same pattern. Capital spending needs appear low, which helps. That said, the absolute level of cash flow is still small, and the company’s debt and modest cash reserves mean that maintaining positive cash generation will be important to support operations without leaning further on external financing.

Competitive Edge

Competitive Edge Commerce.com operates in a crowded and fast‑moving e‑commerce software market but has carved out a differentiated position with its integrated stack: the BigCommerce platform, Feedonomics for data optimization, and Makeswift for storefront building. Its open, partner‑friendly approach and multi‑channel capabilities create a sticky ecosystem that can be hard for merchants to leave once fully adopted. The flip side is that the company faces large, well‑funded rivals, and must continue proving that its more flexible, composable approach delivers better outcomes for merchants over time.

Innovation and R&D

Innovation and R&D Innovation is a core focus. The company is betting on an AI‑centric future with its “agentic commerce” vision, where AI agents help manage the full shopping journey. Its strengths include AI‑powered product feed optimization, automated syndication across many channels, and tools for highly personalized storefronts. Partnerships with major AI and cloud players signal strategic intent. The key uncertainty is not the ambition, but whether this innovation cadence can be translated into durable customer adoption, pricing power, and eventually stronger profitability, given the pace of change in both AI and e‑commerce.

Summary

Commerce.com is a growth‑oriented software company with steadily rising revenue and improving losses, but it is still in the red and carries a leveraged, relatively fragile balance sheet. Cash flow trends have recently turned more positive, which helps, yet the company has limited room for missteps given its debt and thin equity cushion. Strategically, it is leaning hard into AI‑driven e‑commerce with a differentiated, integrated product suite and an open ecosystem that can create meaningful customer stickiness. The long‑term story hinges on whether this innovation and positioning can continue to attract merchants and eventually support a more robust, self‑funding financial profile in a very competitive market.

NEWS

November 25, 2025 · 4:05 PM UTC

Commerce to Present at Upcoming Investor Conferences

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November 6, 2025 · 4:05 PM UTC

BigCommerce Named as a Challenger in 2025 Gartner® Magic Quadrant™ for Digital Commerce Platforms

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November 6, 2025 · 7:00 AM UTC

Commerce Announces Third Quarter 2025 Financial Results

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November 5, 2025 · 8:00 AM UTC

Commerce Launches New Feedonomics Apps for Shopify Merchants to Optimize Product Listings and Streamline Order Fulfillment Across Channels

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October 29, 2025 · 8:00 AM UTC

Commerce Unlocks Agentic Checkout Within AI-Powered Discovery Platforms

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