Commerce.com (CMRC) Financials

$4.94 +0.09 (+1.86%)

As of 04:00 PM Eastern

Annual Income Statements for Commerce.com

This table shows Commerce.com's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024
Period end date	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	-140	-65	-27
Consolidated Net Income / (Loss)	-140	-65	-27
Net Income / (Loss) Continuing Operations	-140	-65	-27
Total Pre-Tax Income	-139	-65	-26
Total Operating Income	-141	-72	-42
Total Gross Profit	209	235	255
Total Revenue	279	309	333
Operating Revenue	279	309	333
Total Cost of Revenue	70	74	78
Operating Cost of Revenue	70	74	78
Total Operating Expenses	350	308	297
Selling, General & Admin Expense	69	59	62
Marketing Expense	141	140	130
Research & Development Expense	88	83	81
Amortization Expense	8.08	8.42	9.74
Restructuring Charge	43	17	15
Total Other Income / (Expense), net	1.14	7.77	16
Interest Expense	2.83	2.88	-6.06
Interest & Investment Income	4.20	11	11
Other Income / (Expense), net	-0.23	-0.84	-0.96
Income Tax Expense	0.50	0.00	1.02
Basic Earnings per Share	($1.91)	($0.86)	($0.35)
Weighted Average Basic Shares Outstanding	73.23M	75.14M	77.60M
Weighted Average Diluted Shares Outstanding	74.12M	76.60M	78.60M
Weighted Average Basic & Diluted Shares Outstanding	74.12M	76.60M	78.60M

This table shows Commerce.com's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	-30	-33	-22	-19	-20	-3.18	-6.39	-11	-6.99	-2.39
Consolidated Net Income / (Loss)	-30	-33	-22	-19	-20	-3.18	-6.39	-11	-6.99	-2.39
Net Income / (Loss) Continuing Operations	-30	-33	-22	-19	-20	-3.18	-6.39	-11	-6.99	-2.39
Total Pre-Tax Income	-30	-33	-22	-19	-20	-3.73	-6.10	-11	-6.72	-2.07
Total Operating Income	-31	-35	-24	-21	-22	-5.69	-8.23	-13	-19	-0.75
Total Gross Profit	55	54	54	57	59	65	62	62	64	68
Total Revenue	72	72	72	75	78	84	80	82	84	87
Operating Revenue	72	72	72	75	78	84	80	82	84	87
Total Cost of Revenue	18	18	17	19	19	19	18	20	20	19
Operating Cost of Revenue	18	18	17	19	19	19	18	20	20	19
Total Operating Expenses	85	89	78	78	81	71	70	76	83	68
Selling, General & Admin Expense	19	17	16	14	14	14	15	15	16	15
Marketing Expense	36	36	34	36	36	34	32	34	33	30
Research & Development Expense	22	23	21	21	22	20	20	20	21	20
Amortization Expense	2.02	2.02	2.03	2.03	2.03	2.32	2.47	2.45	2.43	2.38
Restructuring Charge	6.26	11	4.55	4.13	6.86	1.15	0.33	2.91	10	1.56
Total Other Income / (Expense), net	0.35	1.96	1.74	2.04	2.04	1.96	2.13	2.37	12	-1.32
Interest Expense	0.71	0.71	0.72	0.72	0.72	0.72	0.72	0.72	-10	2.70
Interest & Investment Income	1.43	2.07	2.43	2.83	3.06	3.18	3.18	3.20	2.43	1.76
Other Income / (Expense), net	-0.38	0.60	0.03	-0.06	-0.30	-0.50	-0.33	-0.11	-0.14	-0.37
Income Tax Expense	0.09	0.25	0.20	0.21	0.15	-0.55	0.29	0.13	0.27	0.32
Basic Earnings per Share	($0.41)	($0.45)	($0.30)	($0.25)	($0.27)	($0.04)	($0.08)	($0.15)	($0.09)	($0.03)
Weighted Average Basic Shares Outstanding	73.51M	73.23M	74.14M	74.79M	75.39M	75.14M	76.63M	77.46M	77.87M	77.60M
Weighted Average Diluted Shares Outstanding	73.68M	74.12M	74.55M	75.06M	76.09M	76.60M	77.27M	77.75M	78.38M	78.60M
Weighted Average Basic & Diluted Shares Outstanding	73.68M	74.12M	74.55M	75.06M	76.09M	76.60M	77.27M	77.75M	78.38M	78.60M

This table details how cash moves in and out of Commerce.com's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024
Period end date	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	-206	-20	18
Net Cash From Operating Activities	-89	-24	26
Net Cash From Continuing Operating Activities	-89	-24	26
Net Income / (Loss) Continuing Operations	-140	-65	-27
Consolidated Net Income / (Loss)	-140	-65	-27
Depreciation Expense	11	12	14
Amortization Expense	1.96	1.98	0.95
Non-Cash Adjustments To Reconcile Net Income	54	42	29
Changes in Operating Assets and Liabilities, net	-17	-16	9.51
Net Cash From Investing Activities	-117	2.82	105
Net Cash From Continuing Investing Activities	-117	2.82	105
Purchase of Property, Plant & Equipment	-5.20	-4.18	-3.72
Acquisitions	-0.70	-7.89	-0.10
Purchase of Investments	-214	-228	-80
Sale and/or Maturity of Investments	104	243	189
Net Cash From Financing Activities	0.21	1.24	-114
Net Cash From Continuing Financing Activities	0.21	1.24	-114
Repayment of Debt	0.00	-0.39	-112
Other Financing Activities, net	0.21	1.64	-1.74
Cash Interest Paid	0.90	0.89	2.47
Cash Income Taxes Paid	0.03	0.58	0.38

This table details how cash moves in and out of Commerce.com's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024
Net Change in Cash & Equivalents	-120	-8.94	-31	13	-4.75	1.96	-11	72	-97	53
Net Cash From Operating Activities	-51	-2.69	-21	15	-31	13	-3.42	12	5.57	12
Net Cash From Continuing Operating Activities	-51	-2.69	-21	15	-31	13	-3.42	12	5.57	12
Net Income / (Loss) Continuing Operations	-30	-33	-22	-19	-20	-3.18	-6.39	-11	-6.99	-2.39
Consolidated Net Income / (Loss)	-30	-33	-22	-19	-20	-3.18	-6.39	-11	-6.99	-2.39
Depreciation Expense	2.98	2.79	2.90	2.94	3.14	3.50	3.49	3.51	3.48	3.33
Amortization Expense	0.49	0.49	0.49	0.49	0.49	0.50	0.50	0.50	0.10	-0.15
Non-Cash Adjustments To Reconcile Net Income	14	17	12	12	12	7.05	9.25	11	1.38	7.53
Changes in Operating Assets and Liabilities, net	-38	9.86	-14	19	-26	5.41	-10	8.13	7.60	4.04
Net Cash From Investing Activities	-69	-6.39	-9.68	-2.73	26	-11	-6.93	60	9.25	43
Net Cash From Continuing Investing Activities	-69	-6.39	-9.68	-2.73	26	-11	-6.93	60	9.25	43
Purchase of Property, Plant & Equipment	-0.72	-0.99	-1.06	-1.02	-1.06	-1.04	-0.81	-1.06	-1.06	-0.79
Purchase of Investments	-91	-44	-48	-85	-56	-39	-36	-1.04	-49	5.76
Sale and/or Maturity of Investments	22	39	39	84	83	37	29	63	60	38
Net Cash From Financing Activities	0.17	0.15	-0.33	1.43	0.29	-0.14	-0.49	0.13	-112	-1.61
Net Cash From Continuing Financing Activities	0.17	0.15	-0.33	1.43	0.29	-0.14	-0.49	0.13	-112	-1.61
Repayment of Debt	-	-	0.00	-	-0.13	-0.26	-0.13	-0.14	-111	-0.80
Other Financing Activities, net	0.17	0.15	-0.33	1.43	0.42	0.12	-0.35	0.27	-0.85	-0.81
Cash Interest Paid	0.43	-	0.43	-	0.44	0.02	0.44	0.01	2.02	0.00
Cash Income Taxes Paid	-	-	0.15	0.06	0.13	0.24	0.14	0.04	0.09	0.11

This table presents Commerce.com's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024
Period end date	12/31/2022	12/31/2023	12/31/2024
Total Assets	474	444	340
Total Current Assets	374	342	251
Cash & Equivalents	92	72	89
Restricted Cash	1.46	1.13	1.48
Short-Term Investments	212	198	89
Accounts Receivable	35	38	48
Prepaid Expenses	28	25	15
Other Current Assets	6.17	8.28	8.82
Plant, Property, & Equipment, net	9.08	10	9.13
Total Noncurrent Assets	91	92	80
Goodwill	50	52	52
Intangible Assets	28	27	17
Other Noncurrent Operating Assets	13	13	11
Total Liabilities & Shareholders' Equity	474	444	340
Total Liabilities	428	419	307
Total Current Liabilities	79	71	88
Accounts Payable	7.01	7.98	7.02
Accrued Expenses	2.94	2.65	3.19
Current Deferred Revenue	18	32	47
Other Current Liabilities	51	28	31
Total Noncurrent Liabilities	350	348	219
Long-Term Debt	337	340	216
Other Noncurrent Operating Liabilities	12	8.16	2.45
Commitments & Contingencies	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	46	26	33
Total Preferred & Common Equity	46	26	33
Total Common Equity	46	26	33
Common Stock	577	620	655
Retained Earnings	-530	-595	-622
Accumulated Other Comprehensive Income / (Loss)	-1.20	0.16	0.15
Other Equity Adjustments	0.01	0.01	0.01

This table presents Commerce.com's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024
Total Assets	481	462	468	436	442	453	335
Total Current Assets	376	363	371	342	344	356	243
Cash & Equivalents	101	61	75	70	61	133	35
Restricted Cash	1.36	1.12	1.11	1.11	1.11	1.12	1.51
Short-Term Investments	206	221	223	196	204	143	133
Accounts Receivable	48	59	52	52	39	45	43
Prepaid Expenses	14	14	13	16	29	25	21
Other Current Assets	5.53	6.43	7.00	7.59	8.70	9.12	9.14
Plant, Property, & Equipment, net	9.07	10	10	11	9.99	9.98	9.37
Total Noncurrent Assets	97	88	86	84	89	87	82
Goodwill	50	50	50	50	52	52	52
Intangible Assets	29	26	24	21	25	22	20
Other Noncurrent Operating Assets	18	13	13	13	12	13	11
Total Liabilities & Shareholders' Equity	481	462	468	436	442	453	335
Total Liabilities	416	427	441	416	416	426	306
Total Current Liabilities	66	77	92	67	68	79	87
Accounts Payable	7.22	7.51	6.49	6.27	7.06	6.69	8.15
Accrued Expenses	2.80	4.24	3.67	3.09	3.21	3.60	2.77
Current Deferred Revenue	16	21	28	31	35	42	46
Other Current Liabilities	41	45	53	26	22	26	29
Total Noncurrent Liabilities	350	350	349	349	348	348	220
Long-Term Debt	337	338	339	339	340	340	217
Other Noncurrent Operating Liabilities	11	9.84	9.33	8.85	7.64	7.10	2.82
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	65	34	27	20	27	26	29
Total Preferred & Common Equity	65	34	27	20	27	26	29
Total Common Equity	65	34	27	20	27	26	29
Common Stock	564	587	599	612	628	639	648
Retained Earnings	-497	-552	-571	-591	-601	-612	-619
Accumulated Other Comprehensive Income / (Loss)	-1.61	-0.48	-0.57	-0.42	-0.10	-0.18	0.38
Other Equity Adjustments	0.01	0.01	0.01	0.01	0.01	0.01	0.01

This table displays calculated financial ratios and metrics derived from Commerce.com's official financial filings.

Metric	2022	2023	2024
Period end date	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-
Revenue Growth	26.94%	10.86%	7.61%
EBITDA Growth	-83.89%	53.83%	52.60%
EBIT Growth	-85.22%	47.95%	41.81%
NOPAT Growth	-85.10%	48.46%	42.46%
Net Income Growth	-82.48%	53.78%	58.20%
EPS Growth	0.00%	0.00%	0.00%
Operating Cash Flow Growth	-121.73%	72.87%	208.30%
Free Cash Flow Firm Growth	20.05%	36.02%	91.74%
Invested Capital Growth	7.41%	20.06%	-25.23%
Revenue Q/Q Growth	2.77%	3.94%	0.87%
EBITDA Q/Q Growth	-0.01%	32.72%	13.23%
EBIT Q/Q Growth	-0.13%	27.57%	10.62%
NOPAT Q/Q Growth	-0.62%	28.59%	10.59%
Net Income Q/Q Growth	0.90%	31.55%	2.83%
EPS Q/Q Growth	0.00%	0.00%	0.00%
Operating Cash Flow Q/Q Growth	6.41%	39.72%	-3.38%
Free Cash Flow Firm Q/Q Growth	1.21%	5.42%	64.06%
Invested Capital Q/Q Growth	-16.81%	0.74%	-7.43%
Profitability Metrics	-	-	-
Gross Margin	74.92%	76.02%	76.69%
EBITDA Margin	-45.66%	-19.01%	-8.38%
Operating Margin	-50.37%	-23.41%	-12.52%
EBIT Margin	-50.45%	-23.69%	-12.81%
Profit (Net Income) Margin	-50.14%	-20.90%	-8.12%
Tax Burden Percent	100.36%	100.00%	103.90%
Interest Burden Percent	99.03%	88.25%	61.01%
Effective Tax Rate	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	-130.32%	-58.94%	-35.57%
ROIC Less NNEP Spread (ROIC-NNEP)	121.66%	-86.61%	-31.48%
Return on Net Nonoperating Assets (RNNOA)	-21.80%	-122.71%	-56.21%
Return on Equity (ROE)	-152.12%	-181.65%	-91.78%
Cash Return on Invested Capital (CROIC)	-137.47%	-77.17%	-6.69%
Operating Return on Assets (OROA)	-27.35%	-15.96%	-10.87%
Return on Assets (ROA)	-27.18%	-14.09%	-6.89%
Return on Common Equity (ROCE)	-152.12%	-181.65%	-91.78%
Return on Equity Simple (ROE_SIMPLE)	-306.36%	-253.28%	-81.00%
Net Operating Profit after Tax (NOPAT)	-98	-51	-29
NOPAT Margin	-35.26%	-16.39%	-8.76%
Net Nonoperating Expense Percent (NNEP)	-251.99%	27.68%	-4.09%
Return On Investment Capital (ROIC_SIMPLE)	-25.68%	-13.89%	-11.68%
Cost of Revenue to Revenue	25.08%	23.98%	23.31%
SG&A Expenses to Revenue	24.88%	19.02%	18.56%
R&D to Revenue	31.62%	26.98%	24.29%
Operating Expenses to Revenue	125.29%	99.43%	89.22%
Earnings before Interest and Taxes (EBIT)	-141	-73	-43
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-127	-59	-28
Valuation Ratios	-	-	-
Price to Book Value (P/BV)	14.10	29.00	14.38
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00
Price to Revenue (P/Rev)	2.31	2.39	1.44
Price to Earnings (P/E)	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	8.65	8.61	7.36
Enterprise Value to Revenue (EV/Rev)	2.42	2.61	1.55
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	19.67
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00
Leverage & Solvency	-	-	-
Debt to Equity	7.39	13.30	6.49
Long-Term Debt to Equity	7.39	13.30	6.49
Financial Leverage	-0.18	1.42	1.79
Leverage Ratio	5.60	12.89	13.32
Compound Leverage Factor	5.54	11.38	8.12
Debt to Total Capital	88.08%	93.01%	86.64%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	88.08%	93.01%	86.64%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%
Common Equity to Total Capital	11.92%	6.99%	13.36%
Debt to EBITDA	-2.65	-5.77	-7.76
Net Debt to EBITDA	-0.26	-1.16	-1.32
Long-Term Debt to EBITDA	-2.65	-5.77	-7.76
Debt to NOPAT	-3.43	-6.70	-7.42
Net Debt to NOPAT	-0.33	-1.35	-1.26
Long-Term Debt to NOPAT	-3.43	-6.70	-7.42
Altman Z-Score	-0.31	0.07	-0.48
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-
Current Ratio	4.75	4.83	2.85
Quick Ratio	4.30	4.35	2.57
Cash Flow Metrics	-	-	-
Free Cash Flow to Firm (FCFF)	-104	-66	-5.49
Operating Cash Flow to CapEx	-1,719.73%	-580.11%	705.56%
Free Cash Flow to Firm to Interest Expense	-36.70	-23.02	0.00
Operating Cash Flow to Interest Expense	-31.60	-8.41	0.00
Operating Cash Flow Less CapEx to Interest Expense	-33.43	-9.86	0.00
Efficiency Ratios	-	-	-
Asset Turnover	0.54	0.67	0.85
Accounts Receivable Turnover	7.45	8.50	7.76
Inventory Turnover	0.00	0.00	0.00
Fixed Asset Turnover	33.80	32.04	34.39
Accounts Payable Turnover	9.19	9.90	10.35
Days Sales Outstanding (DSO)	48.97	42.93	47.05
Days Inventory Outstanding (DIO)	0.00	0.00	0.00
Days Payable Outstanding (DPO)	39.70	36.88	35.28
Cash Conversion Cycle (CCC)	9.26	6.05	11.77
Capital & Investment Metrics	-	-	-
Invested Capital	78	94	70
Invested Capital Turnover	3.70	3.60	4.06
Increase / (Decrease) in Invested Capital	5.39	16	-24
Enterprise Value (EV)	676	809	517
Market Capitalization	644	740	480
Book Value per Share	$0.62	$0.34	$0.43
Tangible Book Value per Share	($0.43)	($0.70)	($0.46)
Total Capital	383	365	250
Total Debt	337	340	216
Total Long-Term Debt	337	340	216
Net Debt	33	68	37
Capital Expenditures (CapEx)	5.20	4.18	3.72
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-9.51	-0.02	-16
Debt-free Net Working Capital (DFNWC)	295	271	163
Net Working Capital (NWC)	295	271	163
Net Nonoperating Expense (NNE)	42	14	-2.15
Net Nonoperating Obligations (NNO)	33	68	37
Total Depreciation and Amortization (D&A)	13	14	15
Debt-free, Cash-free Net Working Capital to Revenue	-3.41%	-0.01%	-4.93%
Debt-free Net Working Capital to Revenue	105.87%	87.67%	49.02%
Net Working Capital to Revenue	105.87%	87.67%	49.02%
Earnings Adjustments	-	-	-
Adjusted Basic Earnings per Share	($1.91)	($0.86)	($0.35)
Adjusted Weighted Average Basic Shares Outstanding	73.23M	75.14M	77.60M
Adjusted Diluted Earnings per Share	($1.91)	$0.00	$0.00
Adjusted Weighted Average Diluted Shares Outstanding	73.23M	76.60M	78.60M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	74.12M	76.60M	78.60M
Normalized Net Operating Profit after Tax (NOPAT)	-69	-39	-19
Normalized NOPAT Margin	-24.59%	-12.62%	-5.61%
Pre Tax Income Margin	-49.96%	-20.90%	-7.81%
Debt Service Ratios	-	-	-
EBIT to Interest Expense	-49.79	-25.41	0.00
NOPAT to Interest Expense	-34.79	-17.58	0.00
EBIT Less CapEx to Interest Expense	-51.62	-26.86	0.00
NOPAT Less CapEx to Interest Expense	-36.63	-19.03	0.00
Payout Ratios	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%

This table displays calculated financial ratios and metrics derived from Commerce.com's official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	22.11%	11.61%	8.64%	10.62%	7.81%	16.18%	11.99%	8.46%	7.26%	3.42%
EBITDA Growth	-43.49%	-0.06%	38.74%	51.49%	31.28%	92.86%	77.38%	45.28%	16.43%	193.40%
EBIT Growth	-45.17%	-0.54%	34.97%	46.86%	27.26%	81.83%	63.77%	35.11%	13.97%	81.85%
NOPAT Growth	-43.37%	-2.58%	34.61%	46.61%	27.35%	83.60%	65.22%	35.45%	13.44%	86.80%
Net Income Growth	-39.82%	3.69%	40.28%	51.86%	32.96%	90.37%	71.10%	40.97%	65.57%	24.75%
EPS Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Cash Flow Growth	-260.90%	69.46%	5.23%	206.26%	38.14%	593.09%	83.60%	-20.38%	117.73%	-6.92%
Free Cash Flow Firm Growth	71.68%	70.42%	57.95%	74.52%	48.60%	33.71%	51.38%	-51.19%	126.55%	217.76%
Invested Capital Growth	8.39%	7.41%	29.62%	10.29%	-0.86%	20.06%	13.69%	32.79%	-18.63%	-25.23%
Revenue Q/Q Growth	6.14%	0.06%	-0.93%	5.14%	3.45%	7.82%	-4.50%	1.83%	2.30%	3.96%
EBITDA Q/Q Growth	23.98%	-12.16%	34.32%	13.38%	-7.69%	88.35%	-108.23%	-109.53%	-64.45%	113.02%
EBIT Q/Q Growth	21.56%	-10.18%	30.68%	11.30%	-7.37%	72.48%	-38.24%	-58.87%	-42.36%	94.19%
NOPAT Q/Q Growth	21.92%	-13.51%	31.80%	11.68%	-6.26%	74.38%	-44.63%	-63.93%	-42.47%	96.09%
Net Income Q/Q Growth	23.50%	-8.86%	32.93%	13.81%	-6.53%	84.36%	-101.26%	-76.08%	37.87%	65.82%
EPS Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Cash Flow Q/Q Growth	-266.16%	94.70%	-673.71%	170.76%	-313.18%	142.25%	-125.73%	443.52%	-52.52%	121.78%
Free Cash Flow Firm Q/Q Growth	65.15%	-3.50%	-24.33%	43.20%	29.68%	-33.48%	11.28%	-76.62%	112.35%	492.14%
Invested Capital Q/Q Growth	52.84%	-16.81%	13.78%	-23.76%	37.39%	0.74%	7.11%	-10.95%	-15.81%	-7.43%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	75.79%	74.47%	75.69%	75.14%	75.59%	77.49%	77.05%	75.79%	76.27%	77.62%
EBITDA Margin	-37.94%	-42.53%	-28.19%	-23.23%	-24.18%	-2.61%	-5.70%	-11.72%	-18.84%	2.36%
Operating Margin	-42.22%	-47.89%	-32.97%	-27.70%	-28.45%	-6.76%	-10.24%	-16.48%	-22.96%	-0.86%
EBIT Margin	-42.73%	-47.06%	-32.93%	-27.78%	-28.83%	-7.36%	-10.65%	-16.62%	-23.13%	-1.29%
Profit (Net Income) Margin	-41.85%	-45.53%	-30.83%	-25.27%	-26.02%	-3.77%	-7.95%	-13.75%	-8.35%	-2.75%
Tax Burden Percent	100.28%	100.78%	100.90%	101.11%	100.72%	85.19%	104.75%	101.19%	104.00%	115.68%
Interest Burden Percent	97.66%	96.01%	92.79%	89.97%	89.61%	60.21%	71.29%	81.79%	34.73%	183.81%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	-88.80%	-123.91%	-83.40%	-87.55%	-63.33%	-17.02%	-23.98%	-47.40%	-62.76%	-2.45%
ROIC Less NNEP Spread (ROIC-NNEP)	-49.71%	-71.12%	-167.07%	-138.45%	-72.66%	-15.42%	-24.96%	-50.86%	-52.01%	-6.00%
Return on Net Nonoperating Assets (RNNOA)	10.01%	12.74%	-15.38%	-21.58%	-87.42%	-21.84%	-52.37%	-100.59%	-127.90%	-10.71%
Return on Equity (ROE)	-78.79%	-111.17%	-98.79%	-109.12%	-150.75%	-38.86%	-76.35%	-147.99%	-190.66%	-13.16%
Cash Return on Invested Capital (CROIC)	-116.27%	-137.47%	-139.54%	-128.64%	-75.01%	-77.17%	-54.80%	-72.15%	-18.07%	-6.69%
Operating Return on Assets (OROA)	-22.28%	-25.51%	-18.82%	-16.29%	-18.71%	-4.96%	-7.49%	-11.72%	-19.80%	-1.10%
Return on Assets (ROA)	-21.82%	-24.69%	-17.62%	-14.82%	-16.89%	-2.54%	-5.60%	-9.70%	-7.15%	-2.33%
Return on Common Equity (ROCE)	-78.79%	-111.17%	-98.79%	-109.12%	-150.75%	-38.86%	-76.35%	-147.99%	-190.66%	-13.16%
Return on Equity Simple (ROE_SIMPLE)	-216.89%	0.00%	-362.96%	-388.05%	-475.35%	0.00%	-181.82%	-157.53%	-95.96%	0.00%
Net Operating Profit after Tax (NOPAT)	-21	-24	-17	-15	-16	-3.98	-5.76	-9.44	-13	-0.53
NOPAT Margin	-29.55%	-33.52%	-23.08%	-19.39%	-19.91%	-4.73%	-7.17%	-11.54%	-16.07%	-0.60%
Net Nonoperating Expense Percent (NNEP)	-39.09%	-52.79%	83.66%	50.90%	9.33%	-1.60%	0.98%	3.46%	-10.75%	3.54%
Return On Investment Capital (ROIC_SIMPLE)	-	-6.34%	-	-	-	-1.09%	-	-	-	-0.21%
Cost of Revenue to Revenue	24.21%	25.53%	24.31%	24.86%	24.41%	22.51%	22.95%	24.21%	23.73%	22.38%
SG&A Expenses to Revenue	26.15%	23.66%	22.99%	19.12%	18.38%	16.13%	18.58%	18.86%	19.63%	17.23%
R&D to Revenue	30.73%	31.30%	29.05%	28.37%	27.81%	23.18%	24.87%	24.79%	24.90%	22.71%
Operating Expenses to Revenue	118.01%	122.36%	108.66%	102.84%	104.03%	84.25%	87.29%	92.27%	99.23%	78.48%
Earnings before Interest and Taxes (EBIT)	-31	-34	-24	-21	-23	-6.19	-8.56	-14	-19	-1.12
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-27	-31	-20	-18	-19	-2.20	-4.58	-9.59	-16	2.05
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	16.68	14.10	19.24	27.55	37.28	29.00	19.61	23.85	15.69	14.38
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	4.00	2.31	2.33	2.54	2.49	2.39	1.66	1.92	1.38	1.44
Price to Earnings (P/E)	0.00	0.00	44.42	20.92	16.30	0.00	33.56	26.46	12.34	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	2.25%	4.78%	6.13%	0.00%	2.98%	3.78%	8.10%	0.00%
Enterprise Value to Invested Capital (EV/IC)	11.86	8.65	8.06	11.54	8.74	8.61	5.95	7.62	6.62	7.36
Enterprise Value to Revenue (EV/Rev)	4.11	2.42	2.52	2.68	2.74	2.61	1.89	2.12	1.52	1.55
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	18.46	19.67
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	5.18	7.39	9.81	12.61	17.10	13.30	12.65	13.06	7.48	6.49
Long-Term Debt to Equity	5.18	7.39	9.81	12.59	17.08	13.30	12.63	13.04	7.48	6.49
Financial Leverage	-0.20	-0.18	0.09	0.16	1.20	1.42	2.10	1.98	2.46	1.79
Leverage Ratio	4.60	5.60	6.91	8.90	10.80	12.89	14.73	17.35	15.78	13.32
Compound Leverage Factor	4.50	5.37	6.41	8.01	9.67	7.76	10.50	14.19	5.48	24.48
Debt to Total Capital	83.81%	88.08%	90.75%	92.65%	94.47%	93.01%	92.67%	92.89%	88.20%	86.64%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.11%	0.11%	0.00%	0.15%	0.11%	0.00%	0.00%
Long-Term Debt to Total Capital	83.81%	88.08%	90.75%	92.54%	94.36%	93.01%	92.52%	92.77%	88.20%	86.64%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	16.19%	11.92%	9.25%	7.35%	5.53%	6.99%	7.33%	7.11%	11.80%	13.36%
Debt to EBITDA	-2.65	-2.65	-2.95	-3.54	-3.89	-5.77	-7.89	-9.67	-6.75	-7.76
Net Debt to EBITDA	-0.23	-0.26	-0.48	-0.43	-0.84	-1.16	-1.72	-1.82	-1.46	-1.32
Long-Term Debt to EBITDA	-2.65	-2.65	-2.95	-3.53	-3.88	-5.77	-7.88	-9.66	-6.75	-7.76
Debt to NOPAT	-3.45	-3.43	-3.77	-4.42	-4.79	-6.70	-8.53	-9.82	-6.64	-7.42
Net Debt to NOPAT	-0.30	-0.33	-0.61	-0.53	-1.03	-1.35	-1.86	-1.84	-1.44	-1.26
Long-Term Debt to NOPAT	-3.45	-3.43	-3.77	-4.41	-4.78	-6.70	-8.52	-9.80	-6.64	-7.42
Altman Z-Score	1.24	0.44	0.45	0.49	0.44	0.57	0.26	0.33	-0.34	-0.08
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	5.66	4.75	4.69	4.06	5.09	4.83	5.06	4.51	2.81	2.85
Quick Ratio	5.35	4.30	4.41	3.82	4.73	4.35	4.48	4.07	2.45	2.57
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-29	-30	-37	-21	-15	-20	-18	-32	3.91	23
Operating Cash Flow to CapEx	-7,056.11%	-272.02%	-1,960.11%	1,449.66%	-2,979.05%	1,271.93%	-423.95%	1,103.20%	523.78%	1,570.52%
Free Cash Flow to Firm to Interest Expense	-40.61	-41.91	-51.10	-29.03	-20.44	-27.36	-24.91	-44.01	0.00	8.57
Operating Cash Flow to Interest Expense	-71.96	-3.80	-28.86	20.42	-43.59	18.47	-4.75	16.30	0.00	4.57
Operating Cash Flow Less CapEx to Interest Expense	-72.98	-5.20	-30.33	19.01	-45.05	17.02	-5.87	14.83	0.00	4.28
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.52	0.54	0.57	0.59	0.65	0.67	0.70	0.71	0.86	0.85
Accounts Receivable Turnover	6.64	7.45	5.70	5.96	5.96	8.50	6.47	6.67	6.94	7.76
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	33.01	33.80	31.24	29.68	30.37	32.04	31.42	31.90	33.15	34.39
Accounts Payable Turnover	10.40	9.19	9.11	11.31	10.94	9.90	10.32	11.58	10.69	10.35
Days Sales Outstanding (DSO)	55.00	48.97	64.09	61.28	61.22	42.93	56.42	54.69	52.63	47.05
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	35.10	39.70	40.05	32.27	33.36	36.88	35.36	31.52	34.14	35.28
Cash Conversion Cycle (CCC)	19.91	9.26	24.04	29.02	27.86	6.05	21.06	23.16	18.49	11.77
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	94	78	89	68	93	94	101	90	76	70
Invested Capital Turnover	3.01	3.70	3.61	4.52	3.18	3.60	3.35	4.11	3.91	4.06
Increase / (Decrease) in Invested Capital	7.28	5.39	20	6.33	-0.80	16	12	22	-17	-24
Enterprise Value (EV)	1,115	676	717	783	814	809	602	687	502	517
Market Capitalization	1,086	644	663	742	741	740	528	623	455	480
Book Value per Share	$0.89	$0.62	$0.46	$0.36	$0.26	$0.34	$0.35	$0.34	$0.37	$0.43
Tangible Book Value per Share	($0.19)	($0.43)	($0.55)	($0.62)	($0.68)	($0.70)	($0.65)	($0.62)	($0.55)	($0.46)
Total Capital	402	383	372	366	360	365	367	367	246	250
Total Debt	337	337	338	339	340	340	341	341	217	216
Total Long-Term Debt	337	337	338	339	339	340	340	340	217	216
Net Debt	29	33	55	41	73	68	74	64	47	37
Capital Expenditures (CapEx)	0.72	0.99	1.06	1.02	1.06	1.04	0.81	1.06	1.06	0.79
Debt-free, Cash-free Net Working Capital (DFCFNWC)	1.10	-9.51	2.13	-19	8.40	-0.02	9.86	0.45	-13	-16
Debt-free Net Working Capital (DFNWC)	309	295	286	280	275	271	276	277	157	163
Net Working Capital (NWC)	309	295	286	280	274	271	276	277	157	163
Net Nonoperating Expense (NNE)	8.91	8.70	5.56	4.44	4.77	-0.81	0.63	1.81	-6.46	1.86
Net Nonoperating Obligations (NNO)	29	33	55	41	73	68	74	64	47	37
Total Depreciation and Amortization (D&A)	3.47	3.28	3.40	3.43	3.63	3.99	3.98	4.01	3.59	3.18
Debt-free, Cash-free Net Working Capital to Revenue	0.40%	-3.41%	0.75%	-6.34%	2.82%	-0.01%	3.10%	0.14%	-3.95%	-4.93%
Debt-free Net Working Capital to Revenue	113.87%	105.87%	100.28%	95.89%	92.34%	87.67%	86.84%	85.51%	47.53%	49.02%
Net Working Capital to Revenue	113.87%	105.87%	100.28%	95.75%	92.21%	87.67%	86.67%	85.38%	47.53%	49.02%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.41)	($0.45)	($0.30)	($0.25)	($0.27)	($0.04)	($0.08)	($0.15)	($0.09)	($0.03)
Adjusted Weighted Average Basic Shares Outstanding	73.51M	73.23M	74.14M	74.79M	75.39M	75.14M	76.63M	77.46M	77.87M	77.60M
Adjusted Diluted Earnings per Share	($0.41)	$0.00	($0.30)	($0.25)	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Diluted Shares Outstanding	73.51M	74.12M	74.14M	74.79M	76.09M	76.60M	77.27M	77.75M	78.38M	78.60M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	73.68M	74.12M	74.55M	75.06M	76.09M	76.60M	77.27M	77.75M	78.38M	78.60M
Normalized Net Operating Profit after Tax (NOPAT)	-17	-17	-13	-12	-11	-3.17	-5.53	-7.41	-6.30	0.56
Normalized NOPAT Margin	-23.50%	-22.79%	-18.65%	-15.56%	-13.76%	-3.77%	-6.88%	-9.05%	-7.53%	0.65%
Pre Tax Income Margin	-41.73%	-45.18%	-30.55%	-24.99%	-25.84%	-4.43%	-7.59%	-13.59%	-8.03%	-2.37%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-43.82	-48.14	-32.72	-29.03	-31.21	-8.61	-11.89	-18.89	0.00	-0.42
NOPAT to Interest Expense	-30.30	-34.30	-22.94	-20.26	-21.56	-5.54	-8.00	-13.11	0.00	-0.19
EBIT Less CapEx to Interest Expense	-44.84	-49.54	-34.20	-30.44	-32.67	-10.06	-13.01	-20.37	0.00	-0.71
NOPAT Less CapEx to Interest Expense	-31.32	-35.69	-24.41	-21.67	-23.02	-6.99	-9.12	-14.59	0.00	-0.49
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials Breakdown Chart

Key Financial Trends

Commerce.com (NASDAQ:CMRC) has demonstrated steady revenue growth over the past four years, with operating revenue increasing from approximately $71.8 million in Q1 2023 to $87.0 million in Q4 2024. This is a positive indicator of the company’s top-line expansion and market demand for its services.

Key Positive Financial Trends:

Operating revenue reached $87.0 million in Q4 2024, up from $71.8 million in Q1 2023, signifying steady growth in sales.
Gross profit margins have remained relatively consistent, with gross profit of $67.5 million in Q4 2024 compared to $54.3 million in Q1 2023, showing efficient cost management relative to revenue.
Net cash from operating activities improved substantially to $12.4 million in Q4 2024 from negative cash flow in prior quarters, indicating better cash generation capability.
The company recorded strong cash and short-term investments balances, with total current assets exceeding $243 million as of Q3 2024, providing financial stability.
Consistent investments in property, plant, and equipment indicate ongoing commitment to operational infrastructure.

Neutral Observations:

Operating expenses remain significant, with marketing expenses being the largest component, fluctuating between $29.6 million and $36.6 million in recent quarters.
Interest income and expense fluctuate, with interest income generally exceeding expense in recent quarters, providing a slight cushion to financials.
Repayments of debt have been ongoing though at moderate levels, suggesting the company is managing its leverage prudently.

Areas of Concern/Negative Trends:

Net losses persist, with Q4 2024 showing a net loss of approximately $2.4 million, although smaller compared to earlier periods (e.g., net loss was about $22.1 million in Q1 2023).
Restructuring charges have been significant, peaking at over $11 million in Q4 2022 and remaining at a million or more in recent quarters, possibly indicating ongoing organizational challenges.
Total liabilities are high, with long-term debt exceeding $216 million as of Q3 2024, which poses financial risk if cash flows are not sufficient to cover obligations.
Equity remains low relative to liabilities, with total common equity around $29 million as of Q3 2024, reflecting cumulative net losses and potential shareholder dilution risks.
Operating expenses frequently outpace gross profit, leading to negative operating income in most quarters over the analysis period.

Summary: Commerce.com has shown consistent revenue growth and improved cash flow generation through 2024, which are promising signs for future profitability potential. However, the company continues to face challenges posed by ongoing net losses, high restructuring charges, and substantial debt obligations. Retail investors should watch the company’s ability to convert operational improvements into sustained profitability and manage its liabilities effectively.

10/23/25 06:13 PM ETAI Generated. May Contain Errors.

Frequently Asked Questions About Commerce.com's Financials

When does Commerce.com's financial year end?

According to the most recent income statement we have on file, Commerce.com's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Commerce.com's net income changed over the last 2 years?

Commerce.com's net income appears to be on a downward trend, with a most recent value of -$27.03 million in 2024, falling from -$139.92 million in 2022. The previous period was -$64.67 million in 2023. Check out Commerce.com's forecast to explore projected trends and price targets.

What is Commerce.com's operating income?

Commerce.com's total operating income in 2024 was -$41.68 million, based on the following breakdown:

Total Gross Profit: $255.34 million
Total Operating Expenses: $297.02 million

How has Commerce.com's revenue changed over the last 2 years?

Over the last 2 years, Commerce.com's total revenue changed from $279.08 million in 2022 to $332.93 million in 2024, a change of 19.3%.

How much debt does Commerce.com have?

Commerce.com's total liabilities were at $306.92 million at the end of 2024, a 26.7% decrease from 2023, and a 28.4% decrease since 2022.

How much cash does Commerce.com have?

In the past 2 years, Commerce.com's cash and equivalents has ranged from $71.72 million in 2023 to $91.57 million in 2022, and is currently $88.88 million as of their latest financial filing in 2024.

How has Commerce.com's book value per share changed over the last 2 years?

Over the last 2 years, Commerce.com's book value per share changed from 0.62 in 2022 to 0.43 in 2024, a change of -31.3%.

Related Companies

This page (NASDAQ:CMRC) was last updated on 10/23/2025 by MarketBeat.com Staff

From Our Partners

Get 30 Days of MarketBeat All Access for Free

Start Your 30-Day Trial

In-depth profiles and analysis for 20,000 public companies.
Real-time analyst ratings, insider transactions, earnings data, and more.
Our daily ratings and market update email newsletter.

Sign In
Create Account

Your Email Address:

Your Password:

Forgot your password?

Your Email Address:

Choose a Password:

By creating a free account, you agree to our terms of service. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Commerce.com (CMRC) Financials

Financials Breakdown Chart

Key Financial Trends

Frequently Asked Questions About Commerce.com's Financials

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools

About MarketBeat

MarketBeat Products

Popular Tools

Financial Calendars

Terms & Info

Commerce.com (CMRC) Financials

Annual Income Statements for Commerce.com

Quarterly Income Statements for Commerce.com

Annual Cash Flow Statements for Commerce.com

Quarterly Cash Flow Statements for Commerce.com

Annual Balance Sheets for Commerce.com

Quarterly Balance Sheets for Commerce.com

Annual Metrics And Ratios for Commerce.com

Quarterly Metrics And Ratios for Commerce.com

Financials Breakdown Chart

Key Financial Trends

Frequently Asked Questions About Commerce.com's Financials

MarketBeat All Access Features

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools