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Commerce.com (CMRC) Financials

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$2.12 -0.11 (-4.73%)
As of 03:57 PM Eastern
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Annual Income Statements for Commerce.com

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 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -44 -50 -39 0.00 -140 -65 -27 -19
Consolidated Net Income / (Loss)		 -39 -43 -38 -77 -140 -65 -27 -19
Net Income / (Loss) Continuing Operations		 -39 -43 -38 -77 -140 -65 -27 -19
Total Pre-Tax Income 		-39 -43 -38 -77 -139 -65 -26 -18
Total Operating Income		 -38 -41 -39 -76 -141 -72 -42 -16
Total Gross Profit		 70 85 118 171 209 235 255 270
Total Revenue		 92 112 152 220 279 309 333 342
Operating Revenue		 92 112 152 220 279 309 333 342
Total Cost of Revenue		 22 27 34 48 70 74 78 73
Operating Cost of Revenue		 22 27 34 48 70 74 78 73
Total Operating Expenses		 108 126 157 247 350 308 297 286
Selling, General & Admin Expense		 19 22 36 51 69 59 62 56
Marketing Expense		 46 61 72 105 141 140 130 137
Research & Development Expense		 42 43 48 65 88 83 81 73
Amortization Expense		 - 0.00 0.00 3.28 8.08 8.42 9.74 8.48
Restructuring Charge		 - 0.00 0.00 23 43 17 15 11
Total Other Income / (Expense), net		 -0.89 -1.58 1.16 -0.77 1.14 7.77 16 -1.96
Interest Expense		 1.49 1.61 3.10 0.83 2.83 2.88 -6.06 6.10
Interest & Investment Income		 0.65 0.25 0.03 0.13 4.20 11 11 4.82
Other Income / (Expense), net		 -0.05 -0.21 4.23 -0.07 -0.23 -0.84 -0.96 -0.68
Income Tax Expense		 0.01 0.03 0.03 -0.03 0.50 0.00 1.02 1.17
Basic Earnings per Share		 ($2.59) ($2.80) ($0.99) ($1.08) ($1.91) ($0.86) ($0.35) ($0.24)
Weighted Average Basic Shares Outstanding		 16.81M 17.83M 39.09M 70.93M 73.23M 75.14M 77.60M 80.30M
Weighted Average Diluted Shares Outstanding		 16.81M 17.83M 39.09M 70.93M 74.12M 76.60M 78.60M 82.20M
Weighted Average Basic & Diluted Shares Outstanding		 16.81M 17.83M 39.09M 70.93M 74.12M 76.60M 78.60M 82.20M

Quarterly Income Statements for Commerce.com

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 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Income / (Loss) Attributable to Common Shareholders		 -3.18 -6.39 -11 -6.99 -2.39 -0.35 -8.38 -2.24 -8.36 3.73 1.10
Consolidated Net Income / (Loss)		 -3.18 -6.39 -11 -6.99 -2.39 -0.35 -8.38 -2.24 -8.36 3.73 1.10
Net Income / (Loss) Continuing Operations		 -3.18 -6.39 -11 -6.99 -2.39 -0.35 -8.38 -2.24 -8.36 3.73 1.10
Total Pre-Tax Income 		-3.73 -6.10 -11 -6.72 -2.07 0.17 -8.16 -2.03 -8.16 4.18 1.31
Total Operating Income		 -5.69 -8.23 -13 -19 -0.75 -2.41 -6.79 -0.44 -6.59 5.77 2.70
Total Gross Profit		 65 62 62 64 68 65 67 67 70 67 64
Total Revenue		 84 80 82 84 87 82 84 86 90 87 85
Operating Revenue		 84 80 82 84 87 82 84 86 90 87 85
Total Cost of Revenue		 19 18 20 20 19 17 18 19 19 20 21
Operating Cost of Revenue		 19 18 20 20 19 17 18 19 19 20 21
Total Operating Expenses		 71 70 76 83 68 68 73 68 77 61 61
Selling, General & Admin Expense		 14 15 15 16 15 14 16 12 14 14 14
Marketing Expense		 34 32 34 33 30 30 35 36 35 26 28
Research & Development Expense		 20 20 20 21 20 19 18 17 18 18 18
Amortization Expense		 2.32 2.47 2.45 2.43 2.38 2.34 2.52 1.90 1.72 1.53 1.45
Restructuring Charge		 1.15 0.33 2.91 10 1.56 2.25 1.73 0.08 7.43 0.91 0.01
Total Other Income / (Expense), net		 1.96 2.13 2.37 12 -1.32 2.58 -1.37 -1.60 -1.57 -1.59 -1.40
Interest Expense		 0.72 0.72 0.72 -10 2.70 -1.39 2.52 2.48 2.48 2.48 2.49
Interest & Investment Income		 3.18 3.18 3.20 2.43 1.76 1.30 1.17 1.18 1.16 1.17 1.23
Other Income / (Expense), net		 -0.50 -0.33 -0.11 -0.14 -0.37 -0.11 -0.02 -0.30 -0.25 -0.27 -0.14
Income Tax Expense		 -0.55 0.29 0.13 0.27 0.32 0.52 0.22 0.21 0.21 0.45 0.20
Basic Earnings per Share		 ($0.04) ($0.08) ($0.15) ($0.09) ($0.03) $0.00 ($0.10) ($0.03) ($0.11) $0.05 $0.01
Weighted Average Basic Shares Outstanding		 75.14M 76.63M 77.46M 77.87M 77.60M 78.84M 80.12M 80.76M 80.30M 82.04M 82.63M
Diluted Earnings per Share		 - - - - - $0.00 ($0.10) - - $0.05 $0.01
Weighted Average Diluted Shares Outstanding		 76.60M 77.27M 77.75M 78.38M 78.60M 78.84M 80.12M 81.26M 82.20M 82.32M 82.79M
Weighted Average Basic & Diluted Shares Outstanding		 76.60M 77.27M 77.75M 78.38M 78.60M 80.10M 80.74M 81.26M 82.20M 82.51M 82.86M

Annual Cash Flow Statements for Commerce.com

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 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 7.13 -4.75 211 78 -206 -20 18 -44
Net Cash From Operating Activities		 -31 -40 -27 -40 -89 -24 26 25
Net Cash From Continuing Operating Activities		 -31 -40 -27 -40 -89 -24 26 25
Net Income / (Loss) Continuing Operations		 -39 -43 -38 -77 -140 -65 -27 -19
Consolidated Net Income / (Loss)		 -39 -43 -38 -77 -140 -65 -27 -19
Depreciation Expense		 1.84 2.57 3.08 6.15 11 12 14 14
Amortization Expense		 0.05 0.05 0.77 0.57 1.96 1.98 0.95 -0.96
Non-Cash Adjustments To Reconcile Net Income		 2.57 4.08 13 29 54 42 29 24
Changes in Operating Assets and Liabilities, net		 3.83 -4.08 -5.48 0.75 -17 -16 9.51 8.39
Net Cash From Investing Activities		 -27 18 -1.96 -187 -117 2.82 105 -17
Net Cash From Continuing Investing Activities		 -27 18 -1.96 -187 -117 2.82 105 -17
Purchase of Property, Plant & Equipment		 -3.33 -5.58 -1.96 -3.30 -5.20 -4.18 -3.72 -8.60
Acquisitions		 - 0.00 0.00 -81 -0.70 -7.89 -0.10 0.00
Purchase of Investments		 -34 0.00 0.00 -107 -214 -228 -80 -93
Sale and/or Maturity of Investments		 10 23 0.00 4.50 104 243 189 87
Other Investing Activities, net		 - - - - - 0.00 0.00 -2.44
Net Cash From Financing Activities		 64 17 240 305 0.21 1.24 -114 -53
Net Cash From Continuing Financing Activities		 64 17 240 305 0.21 1.24 -114 -53
Repayment of Debt		 -4.50 -2.05 -29 -10 0.00 -0.39 -112 -55
Other Financing Activities, net		 0.61 0.90 3.28 -30 0.21 1.64 -1.74 1.67
Cash Interest Paid		 1.25 1.63 2.29 0.00 0.90 0.89 2.47 11
Cash Income Taxes Paid		 - - 0.00 0.00 0.03 0.00 0.00 0.00

Quarterly Cash Flow Statements for Commerce.com

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 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Change in Cash & Equivalents		 1.96 -11 72 -97 53 -37 -5.82 3.65 -4.91 13 -0.76
Net Cash From Operating Activities		 13 -3.42 12 5.57 12 0.40 14 11 0.98 18 5.09
Net Cash From Continuing Operating Activities		 13 -3.42 12 5.57 12 0.40 14 11 0.98 18 5.09
Net Income / (Loss) Continuing Operations		 -3.18 -6.39 -11 -6.99 -2.39 -0.35 -8.38 -2.24 -8.36 3.73 1.10
Consolidated Net Income / (Loss)		 -3.18 -6.39 -11 -6.99 -2.39 -0.35 -8.38 -2.24 -8.36 3.73 1.10
Depreciation Expense		 3.50 3.49 3.51 3.48 3.33 4.28 3.85 2.73 2.81 2.89 3.02
Amortization Expense		 0.50 0.50 0.50 0.10 -0.15 -0.22 -0.24 -0.25 -0.25 -0.72 -0.66
Non-Cash Adjustments To Reconcile Net Income		 7.05 9.25 11 1.38 7.53 2.21 8.83 6.10 6.59 4.70 5.03
Changes in Operating Assets and Liabilities, net		 5.41 -10 8.13 7.60 4.04 -5.52 9.50 4.22 0.19 7.77 -3.39
Net Cash From Investing Activities		 -11 -6.93 60 9.25 43 17 -21 -6.80 -5.95 -5.39 -5.70
Net Cash From Continuing Investing Activities		 -11 -6.93 60 9.25 43 17 -21 -6.80 -5.95 -5.39 -5.70
Purchase of Property, Plant & Equipment		 -1.04 -0.81 -1.06 -1.06 -0.79 -0.83 -1.65 -2.97 -3.16 -4.29 -5.04
Purchase of Investments		 -39 -36 -1.04 -49 5.76 -7.95 -33 -44 -8.00 -25 -20
Sale and/or Maturity of Investments		 37 29 63 60 38 29 13 41 5.20 24 19
Net Cash From Financing Activities		 -0.14 -0.49 0.13 -112 -1.61 -55 1.85 -0.11 0.06 -0.05 -0.15
Net Cash From Continuing Financing Activities		 -0.14 -0.49 0.13 -112 -1.61 -55 1.85 -0.11 0.06 -0.05 -0.15
Other Financing Activities, net		 0.12 -0.35 0.27 -0.85 -0.81 -0.13 1.85 -0.11 0.06 -0.05 -0.15
Cash Interest Paid		 0.02 0.44 0.01 2.02 0.00 5.69 - - 5.49 0.00 5.63

Annual Balance Sheets for Commerce.com

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 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 56 277 555 474 444 340 309
Total Current Assets		 32 254 455 374 342 251 214
Cash & Equivalents		 7.80 219 298 92 72 89 44
Restricted Cash		 1.36 1.16 1.14 1.46 1.13 1.48 1.91
Short-Term Investments		 - 0.00 102 212 198 89 97
Accounts Receivable		 16 23 40 35 38 48 50
Prepaid Expenses		 5.30 8.00 9.71 28 25 15 15
Other Current Assets		 1.68 2.57 4.01 6.17 8.28 8.82 6.05
Plant, Property, & Equipment, net		 8.24 7.12 7.43 9.08 10 9.13 14
Total Noncurrent Assets		 16 15 93 91 92 80 80
Goodwill		 - 0.00 42 50 52 52 52
Intangible Assets		 - 0.00 35 28 27 17 11
Other Noncurrent Operating Assets		 16 15 16 13 13 11 17
Total Liabilities & Shareholders' Equity		 56 277 555 474 444 340 309
Total Liabilities		 90 60 417 428 419 307 269
Total Current Liabilities		 34 46 63 79 71 88 108
Short-Term Debt		 2.36 - - 0.00 - 0.00 4.04
Accounts Payable		 3.88 5.79 8.21 7.01 7.98 7.02 9.87
Accrued Expenses		 5.85 3.34 2.94 2.94 2.65 3.19 4.79
Current Deferred Revenue		 9.40 11 13 18 32 47 60
Other Current Liabilities		 12 25 39 51 28 31 30
Total Noncurrent Liabilities		 56 14 354 350 348 219 161
Long-Term Debt		 39 0.00 336 337 340 216 153
Other Noncurrent Operating Liabilities		 16 13 17 12 8.16 2.45 8.24
Total Equity & Noncontrolling Interests		 -257 217 138 46 26 33 39
Total Preferred & Common Equity		 -257 217 138 46 26 33 39
Total Common Equity		 -257 217 138 46 26 33 39
Common Stock		 17 530 529 577 620 655 680
Retained Earnings		 -275 -313 -390 -530 -595 -622 -641
Accumulated Other Comprehensive Income / (Loss)		 0.00 0.00 -0.19 -1.20 0.16 0.15 0.22
Other Equity Adjustments		 0.00 0.01 0.01 0.01 0.01 0.01 0.01

Quarterly Balance Sheets for Commerce.com

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 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 2026
Period end date 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026 6/30/2026
Total Assets		 462 468 436 442 453 335 286 303 309 324 325
Total Current Assets		 363 371 342 344 356 243 193 210 216 230 230
Cash & Equivalents		 61 75 70 61 133 35 52 46 50 57 57
Restricted Cash		 1.12 1.11 1.11 1.11 1.12 1.51 1.16 1.16 1.16 1.89 1.16
Short-Term Investments		 221 223 196 204 143 133 69 88 92 98 99
Accounts Receivable		 59 52 52 39 45 43 44 52 48 50 52
Prepaid Expenses		 14 13 16 29 25 21 19 15 18 18 16
Other Current Assets		 6.43 7.00 7.59 8.70 9.12 9.14 8.07 7.56 6.81 5.21 4.78
Plant, Property, & Equipment, net		 10 10 11 9.99 9.98 9.37 8.13 8.98 11 16 19
Total Noncurrent Assets		 88 86 84 89 87 82 85 84 82 78 76
Goodwill		 50 50 50 52 52 52 52 52 52 52 52
Intangible Assets		 26 24 21 25 22 20 17 15 13 9.76 8.30
Other Noncurrent Operating Assets		 13 13 13 12 13 11 16 17 17 16 16
Total Liabilities & Shareholders' Equity		 462 468 436 442 453 335 286 303 309 324 325
Total Liabilities		 427 441 416 416 426 306 248 264 267 277 273
Total Current Liabilities		 77 92 67 68 79 87 82 98 101 116 113
Short-Term Debt		 - 0.40 0.40 0.55 0.42 - - - - 4.04 4.05
Accounts Payable		 7.51 6.49 6.27 7.06 6.69 8.15 7.82 8.78 9.53 8.54 9.32
Accrued Expenses		 4.24 3.67 3.09 3.21 3.60 2.77 2.76 3.46 4.49 4.50 2.62
Current Deferred Revenue		 21 28 31 35 42 46 49 56 59 69 70
Other Current Liabilities		 45 53 26 22 26 29 23 30 28 31 28
Total Noncurrent Liabilities		 350 349 349 348 348 220 166 165 166 161 160
Long-Term Debt		 338 339 339 340 340 217 158 158 157 153 152
Other Noncurrent Operating Liabilities		 9.84 9.33 8.85 7.64 7.10 2.82 8.17 7.94 8.34 8.19 7.38
Total Equity & Noncontrolling Interests		 34 27 20 27 26 29 38 39 43 47 52
Total Preferred & Common Equity		 34 27 20 27 26 29 38 39 43 47 52
Total Common Equity		 34 27 20 27 26 29 38 39 43 47 52
Common Stock		 587 599 612 628 639 648 660 669 675 684 688
Retained Earnings		 -552 -571 -591 -601 -612 -619 -622 -630 -633 -637 -636
Accumulated Other Comprehensive Income / (Loss)		 -0.48 -0.57 -0.42 -0.10 -0.18 0.38 0.12 0.11 0.21 -0.01 -0.13
Other Equity Adjustments		 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01

Annual Metrics And Ratios for Commerce.com

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

Metric 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 0.00 0.00 67,806,741.00 71,618,735.00 - - - 81,263,346.00
DEI Adjusted Shares Outstanding		 0.00 0.00 67,806,741.00 71,618,735.00 - - - 81,263,346.00
DEI Earnings Per Adjusted Shares Outstanding		 0.00 0.00 -0.57 0.00 - - - -0.24
Growth Metrics		 - - - - - - - -
Revenue Growth		 0.00% 22.03% 35.92% 44.29% 26.94% 10.86% 7.61% 2.83%
EBITDA Growth		 0.00% -6.73% 20.65% -126.39% -83.89% 53.83% 52.60% 84.97%
EBIT Growth		 0.00% -8.32% 16.34% -120.56% -85.22% 47.95% 41.81% 60.37%
NOPAT Growth		 0.00% -7.92% 5.59% -96.25% -85.10% 48.46% 42.46% 61.10%
Net Income Growth		 0.00% -9.55% 11.81% -104.15% -82.48% 53.78% 58.20% 28.44%
EPS Growth		 0.00% -8.11% 64.64% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Cash Flow Growth		 0.00% -30.66% 33.63% -51.91% -121.73% 72.87% 208.30% -2.91%
Free Cash Flow Firm Growth		 0.00% 0.00% 6.64% -417.73% 20.05% 36.02% 91.74% 199.17%
Invested Capital Growth		 0.00% 0.00% -109.81% 1,992.05% 7.41% 20.06% -25.23% -23.92%
Revenue Q/Q Growth		 0.00% 0.00% 0.00% 10.98% 2.77% 3.94% 0.87% 0.73%
EBITDA Q/Q Growth		 0.00% 0.00% 0.00% -35.21% -0.01% 32.72% 13.23% -296.30%
EBIT Q/Q Growth		 0.00% 0.00% 0.00% -36.09% -0.13% 27.57% 10.62% -51.04%
NOPAT Q/Q Growth		 0.00% 0.00% 0.00% -35.78% -0.62% 28.59% 10.59% -56.19%
Net Income Q/Q Growth		 0.00% 0.00% 0.00% -35.39% 0.90% 31.55% 2.83% -44.69%
EPS Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Cash Flow Q/Q Growth		 0.00% 0.00% 17.25% -15.76% 6.41% 39.72% -3.38% -30.86%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 1.21% 5.42% 64.06% -53.17%
Invested Capital Q/Q Growth		 0.00% 0.00% 0.00% -16.05% -16.81% 0.74% -7.43% -6.22%
Profitability Metrics		 - - - - - - - -
Gross Margin		 76.12% 75.89% 77.60% 77.95% 74.92% 76.02% 76.69% 78.75%
EBITDA Margin		 -39.34% -34.41% -20.09% -31.52% -45.66% -19.01% -8.38% -1.22%
Operating Margin		 -41.34% -36.56% -25.40% -34.54% -50.37% -23.41% -12.52% -4.74%
EBIT Margin		 -41.40% -36.75% -22.62% -34.57% -50.45% -23.69% -12.81% -4.94%
Profit (Net Income) Margin		 -42.32% -37.99% -24.65% -34.88% -50.14% -20.90% -8.12% -5.65%
Tax Burden Percent		 100.03% 100.07% 100.07% 99.96% 100.36% 100.00% 103.90% 106.42%
Interest Burden Percent		 102.20% 103.32% 108.91% 100.92% 99.03% 88.25% 61.01% 107.56%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% -154.18% -130.32% -58.94% -35.57% -18.37%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% -137.74% 121.66% -86.61% -31.48% -49.78%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 110.99% -21.80% -122.71% -56.21% -34.82%
Return on Equity (ROE)		 0.00% 126.95% -41.00% -43.19% -152.12% -181.65% -91.78% -53.19%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% 0.00% -178.30% -137.47% -77.17% -6.69% 8.81%
Operating Return on Assets (OROA)		 0.00% -73.48% -20.72% -18.27% -27.35% -15.96% -10.87% -5.21%
Return on Assets (ROA)		 0.00% -75.97% -22.58% -18.43% -27.18% -14.09% -6.89% -5.96%
Return on Common Equity (ROCE)		 0.00% 973.63% 9.07% -43.19% -152.12% -181.65% -91.78% -53.19%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 16.55% -17.33% -55.45% -306.36% -253.28% -81.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -27 -29 -27 -53 -98 -51 -29 -11
NOPAT Margin		 -28.94% -25.59% -17.78% -24.18% -35.26% -16.39% -8.76% -3.32%
Net Nonoperating Expense Percent (NNEP)		 0.00% 87.65% -11.09% -16.44% -251.99% 27.68% -4.09% 31.41%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - -25.68% -13.89% -11.68% -5.78%
Cost of Revenue to Revenue		 23.88% 24.11% 22.40% 22.05% 25.08% 23.98% 23.31% 21.25%
SG&A Expenses to Revenue		 21.22% 19.81% 23.72% 23.34% 24.88% 19.02% 18.56% 16.32%
R&D to Revenue		 46.25% 38.47% 31.72% 29.36% 31.62% 26.98% 24.29% 21.33%
Operating Expenses to Revenue		 117.46% 112.46% 103.00% 112.49% 125.29% 99.43% 89.22% 83.49%
Earnings before Interest and Taxes (EBIT)		 -38 -41 -34 -76 -141 -73 -43 -17
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -36 -39 -31 -69 -127 -59 -28 -4.19
Valuation Ratios		 - - - - - - - -
Price to Book Value (P/BV)		 0.00 0.00 20.07 18.32 14.10 29.00 14.38 8.51
Price to Tangible Book Value (P/TBV)		 0.00 0.00 20.07 41.65 0.00 0.00 0.00 0.00
Price to Revenue (P/Rev)		 2.36 1.93 28.55 11.52 2.31 2.39 1.44 0.98
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.00 33.89 8.65 8.61 7.36 6.53
Enterprise Value to Revenue (EV/Rev)		 0.00 4.21 27.10 11.22 2.42 2.61 1.55 1.02
Enterprise Value to EBITDA (EV/EBITDA)		 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
Enterprise Value to NOPAT (EV/NOPAT)		 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 19.67 13.69
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 64.10
Leverage & Solvency		 - - - - - - - -
Debt to Equity		 0.00 -1.22 0.00 2.43 7.39 13.30 6.49 3.99
Long-Term Debt to Equity		 0.00 -1.15 0.00 2.43 7.39 13.30 6.49 3.89
Financial Leverage		 0.00 -0.95 -1.03 -0.81 -0.18 1.42 1.79 0.70
Leverage Ratio		 0.00 -1.67 1.82 2.34 5.60 12.89 13.32 8.93
Compound Leverage Factor		 0.00 -1.73 1.98 2.37 5.54 11.38 8.12 9.60
Debt to Total Capital		 0.00% 558.57% 0.00% 70.81% 88.08% 93.01% 86.64% 79.96%
Short-Term Debt to Total Capital		 0.00% 32.30% 0.00% 0.00% 0.00% 0.00% 0.00% 2.06%
Long-Term Debt to Total Capital		 0.00% 526.27% 0.00% 70.81% 88.08% 93.01% 86.64% 77.91%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 3,058.42% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 0.00% -3,516.99% 100.00% 29.19% 11.92% 6.99% 13.36% 20.04%
Debt to EBITDA		 0.00 -1.06 0.00 -4.84 -2.65 -5.77 -7.76 -37.47
Net Debt to EBITDA		 0.00 -0.82 0.00 0.95 -0.26 -1.16 -1.32 -3.35
Long-Term Debt to EBITDA		 0.00 -1.00 0.00 -4.84 -2.65 -5.77 -7.76 -36.51
Debt to NOPAT		 0.00 -1.42 0.00 -6.31 -3.43 -6.70 -7.42 -13.83
Net Debt to NOPAT		 0.00 -1.11 0.00 1.23 -0.33 -1.35 -1.26 -1.24
Long-Term Debt to NOPAT		 0.00 -1.34 0.00 -6.31 -3.43 -6.70 -7.42 -13.48
Altman Z-Score		 0.00 -5.88 43.05 3.45 -0.31 0.07 -0.48 -0.82
Noncontrolling Interest Sharing Ratio		 0.00% -666.95% 122.13% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - -
Current Ratio		 0.00 0.93 5.54 7.24 4.75 4.83 2.85 1.98
Quick Ratio		 0.00 0.69 5.28 7.00 4.30 4.35 2.57 1.77
Cash Flow Metrics		 - - - - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 -27 -25 -130 -104 -66 -5.49 5.44
Operating Cash Flow to CapEx		 -919.75% -716.42% -1,350.76% -1,219.73% -1,719.73% -580.11% 705.56% 296.48%
Free Cash Flow to Firm to Interest Expense		 0.00 -16.66 -8.08 -156.78 -36.70 -23.02 0.00 0.89
Operating Cash Flow to Interest Expense		 -20.54 -24.79 -8.55 -48.67 -31.60 -8.41 0.00 4.18
Operating Cash Flow Less CapEx to Interest Expense		 -22.78 -28.26 -9.18 -52.66 -33.43 -9.86 0.00 2.77
Efficiency Ratios		 - - - - - - - -
Asset Turnover		 0.00 2.00 0.92 0.53 0.54 0.67 0.85 1.05
Accounts Receivable Turnover		 0.00 7.21 7.93 7.01 7.45 8.50 7.76 6.98
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 0.00 13.60 19.84 30.22 33.80 32.04 34.39 29.63
Accounts Payable Turnover		 0.00 6.96 7.06 6.93 9.19 9.90 10.35 8.62
Days Sales Outstanding (DSO)		 0.00 50.62 46.04 52.05 48.97 42.93 47.05 52.29
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 0.00 52.42 51.71 52.70 39.70 36.88 35.28 42.36
Cash Conversion Cycle (CCC)		 0.00 -1.80 -5.66 -0.65 9.26 6.05 11.77 9.92
Capital & Investment Metrics		 - - - - - - - -
Invested Capital		 0.00 -1.83 -3.85 73 78 94 70 53
Invested Capital Turnover		 0.00 -122.25 -53.63 6.38 3.70 3.60 4.06 5.54
Increase / (Decrease) in Invested Capital		 0.00 -1.83 -2.01 77 5.39 16 -24 -17
Enterprise Value (EV)		 0.00 472 4,129 2,468 676 809 517 349
Market Capitalization		 216 216 4,350 2,533 644 740 480 335
Book Value per Share		 $0.00 ($14.43) $3.20 $1.93 $0.62 $0.34 $0.43 $0.48
Tangible Book Value per Share		 $0.00 ($14.43) $3.20 $0.85 ($0.43) ($0.70) ($0.46) ($0.29)
Total Capital		 0.00 7.32 217 474 383 365 250 196
Total Debt		 0.00 41 0.00 336 337 340 216 157
Total Long-Term Debt		 0.00 39 0.00 336 337 340 216 153
Net Debt		 0.00 32 -221 -65 33 68 37 14
Capital Expenditures (CapEx)		 3.33 5.58 1.96 3.30 5.20 4.18 3.72 8.60
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 0.00 -9.03 -12 -9.28 -9.51 -0.02 -16 -33
Debt-free Net Working Capital (DFNWC)		 0.00 0.12 208 392 295 271 163 110
Net Working Capital (NWC)		 0.00 -2.24 208 392 295 271 163 106
Net Nonoperating Expense (NNE)		 12 14 10 24 42 14 -2.15 7.99
Net Nonoperating Obligations (NNO)		 0.00 32 -221 -65 33 68 37 14
Total Depreciation and Amortization (D&A)		 1.89 2.62 3.86 6.73 13 14 15 13
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% -8.06% -8.15% -4.22% -3.41% -0.01% -4.93% -9.58%
Debt-free Net Working Capital to Revenue		 0.00% 0.11% 136.63% 178.18% 105.87% 87.67% 49.02% 32.19%
Net Working Capital to Revenue		 0.00% -2.00% 136.63% 178.18% 105.87% 87.67% 49.02% 31.01%
Earnings Adjustments		 - - - - - - - -
Adjusted Basic Earnings per Share		 $0.00 $0.00 $0.00 ($1.08) ($1.91) ($0.86) ($0.35) ($0.24)
Adjusted Weighted Average Basic Shares Outstanding		 0.00 0.00 0.00 72.47M 73.23M 75.14M 77.60M 80.30M
Adjusted Diluted Earnings per Share		 $0.00 $0.00 $0.00 ($1.08) ($1.91) $0.00 $0.00 $0.00
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 0.00 0.00 72.47M 73.23M 76.60M 78.60M 82.20M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 ($1.08) $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 0.00 0.00 70.93M 74.12M 76.60M 78.60M 82.20M
Normalized Net Operating Profit after Tax (NOPAT)		 -27 -29 -27 -37 -69 -39 -19 -3.31
Normalized NOPAT Margin		 -28.94% -25.59% -17.78% -16.76% -24.59% -12.62% -5.61% -0.97%
Pre Tax Income Margin		 -42.31% -37.97% -24.63% -34.89% -49.96% -20.90% -7.81% -5.31%
Debt Service Ratios		 - - - - - - - -
EBIT to Interest Expense		 -25.54 -25.56 -11.11 -91.80 -49.79 -25.41 0.00 -2.77
NOPAT to Interest Expense		 -17.85 -17.80 -8.73 -64.20 -34.79 -17.58 0.00 -1.86
EBIT Less CapEx to Interest Expense		 -27.78 -29.02 -11.74 -95.79 -51.62 -26.86 0.00 -4.18
NOPAT Less CapEx to Interest Expense		 -20.09 -21.26 -9.36 -68.19 -36.63 -19.03 0.00 -3.27
Payout Ratios		 - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% -34.12% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% -34.12% 0.00% 0.00% 0.00% 0.00% 0.00%

Quarterly Metrics And Ratios for Commerce.com

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

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
DEI Shares Outstanding		 - - - - - 78,600,000.00 80,098,346.00 80,735,080.00 81,263,346.00 82,200,000.00 82,512,244.00
DEI Adjusted Shares Outstanding		 - - - - - 78,600,000.00 80,098,346.00 80,735,080.00 81,263,346.00 82,200,000.00 82,512,244.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - 0.00 -0.10 -0.03 -0.10 0.05 0.01
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 16.18% 11.99% 8.46% 7.26% 3.42% 2.50% 3.18% 2.77% 2.86% 5.43% 0.09%
EBITDA Growth		 92.86% 77.38% 45.28% 16.43% 193.40% 133.84% 66.55% 111.04% -308.13% 394.77% 253.40%
EBIT Growth		 81.83% 63.77% 35.11% 13.97% 81.85% 70.60% 49.92% 96.19% -508.01% 318.28% 137.67%
NOPAT Growth		 83.60% 65.22% 35.45% 13.44% 86.80% 186.38% 49.68% 97.74% -776.83% 3.41% 148.03%
Net Income Growth		 90.37% 71.10% 40.97% 65.57% 24.75% 94.48% 25.53% 67.93% -249.96% 1,156.37% 113.15%
EPS Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 110.00%
Operating Cash Flow Growth		 593.09% 83.60% -20.38% 117.73% -6.92% 111.74% 15.50% 89.36% -92.07% 4,482.04% -62.44%
Free Cash Flow Firm Growth		 33.71% 51.38% -51.19% 126.55% 217.76% 279.15% 177.75% 375.05% -47.40% 1.07% -50.10%
Invested Capital Growth		 20.06% 13.69% 32.79% -18.63% -25.23% -26.85% -32.62% -24.91% -23.92% -36.95% -16.49%
Revenue Q/Q Growth		 7.82% -4.50% 1.83% 2.30% 3.96% -5.35% 2.50% 1.89% 4.05% -2.99% -2.68%
EBITDA Q/Q Growth		 88.35% -108.23% -109.53% -64.45% 113.02% -24.55% -307.10% 154.27% -345.43% 279.36% -35.79%
EBIT Q/Q Growth		 72.48% -38.24% -58.87% -42.36% 94.19% -123.93% -170.56% 89.18% -827.27% 180.39% -53.31%
NOPAT Q/Q Growth		 74.38% -44.63% -63.93% -42.47% 96.09% 1,046.36% -195.49% 93.59% -1,413.79% 211.61% -55.65%
Net Income Q/Q Growth		 84.36% -101.26% -76.08% 37.87% 65.82% 85.23% -2,274.50% 73.24% -272.89% 144.58% -70.45%
EPS Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -80.00%
Operating Cash Flow Q/Q Growth		 142.25% -125.73% 443.52% -52.52% 121.78% -96.76% 3,280.80% -22.16% -90.71% 1,774.90% -72.29%
Free Cash Flow Firm Q/Q Growth		 -33.48% 11.28% -76.62% 112.35% 492.14% 38.73% -23.35% -24.55% -34.44% 166.58% -62.15%
Invested Capital Q/Q Growth		 0.74% 7.11% -10.95% -15.81% -7.43% 5.40% -17.97% -6.18% -6.22% -12.64% 8.64%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 77.49% 77.05% 75.79% 76.27% 77.62% 79.38% 78.99% 78.39% 78.29% 76.75% 75.17%
EBITDA Margin		 -2.61% -5.70% -11.72% -18.84% 2.36% 1.88% -3.80% 2.02% -4.77% 8.83% 5.82%
Operating Margin		 -6.76% -10.24% -16.48% -22.96% -0.86% -2.93% -8.04% -0.51% -7.36% 6.64% 3.20%
EBIT Margin		 -7.36% -10.65% -16.62% -23.13% -1.29% -3.06% -8.07% -0.86% -7.63% 6.33% 3.04%
Profit (Net Income) Margin		 -3.77% -7.95% -13.75% -8.35% -2.75% -0.43% -9.93% -2.61% -9.34% 4.29% 1.30%
Tax Burden Percent		 85.19% 104.75% 101.19% 104.00% 115.68% -206.43% 102.71% 110.44% 102.56% 89.19% 84.38%
Interest Burden Percent		 60.21% 71.29% 81.79% 34.73% 183.81% -6.79% 119.84% 275.58% 119.33% 76.10% 50.92%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 306.43% 0.00% 0.00% 0.00% 10.81% 15.62%
Return on Invested Capital (ROIC)		 -17.02% -23.98% -47.40% -62.76% -2.45% 23.10% -25.19% -1.81% -28.53% 34.06% 16.82%
ROIC Less NNEP Spread (ROIC-NNEP)		 -15.42% -24.96% -50.86% -52.01% -6.00% 13.43% -33.65% -8.17% -43.29% 26.13% 5.57%
Return on Net Nonoperating Assets (RNNOA)		 -21.84% -52.37% -100.59% -127.90% -10.71% 22.75% -44.55% -6.94% -30.28% 10.97% 1.29%
Return on Equity (ROE)		 -38.86% -76.35% -147.99% -190.66% -13.16% 45.86% -69.74% -8.75% -58.81% 45.03% 18.11%
Cash Return on Invested Capital (CROIC)		 -77.17% -54.80% -72.15% -18.07% -6.69% 2.35% 11.90% 17.50% 8.81% 35.99% 19.80%
Operating Return on Assets (OROA)		 -4.96% -7.49% -11.72% -19.80% -1.10% -2.81% -7.21% -0.90% -8.05% 7.19% 3.36%
Return on Assets (ROA)		 -2.54% -5.60% -9.70% -7.15% -2.33% -0.39% -8.88% -2.75% -9.86% 4.88% 1.44%
Return on Common Equity (ROCE)		 -38.86% -76.35% -147.99% -190.66% -13.16% 45.86% -69.74% -8.75% -58.81% 45.03% 18.11%
Return on Equity Simple (ROE_SIMPLE)		 0.00% -181.82% -157.53% -95.96% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -3.98 -5.76 -9.44 -13 -0.53 4.98 -4.75 -0.30 -4.61 5.14 2.28
NOPAT Margin		 -4.73% -7.17% -11.54% -16.07% -0.60% 6.04% -5.63% -0.35% -5.15% 5.92% 2.70%
Net Nonoperating Expense Percent (NNEP)		 -1.60% 0.98% 3.46% -10.75% 3.54% 9.67% 8.46% 6.36% 14.76% 7.93% 11.25%
Return On Investment Capital (ROIC_SIMPLE)		 -1.09% - - - -0.21% 2.54% -2.42% -0.15% -2.35% 2.53% 1.10%
Cost of Revenue to Revenue		 22.51% 22.95% 24.21% 23.73% 22.38% 20.62% 21.01% 21.61% 21.71% 23.25% 24.83%
SG&A Expenses to Revenue		 16.13% 18.58% 18.86% 19.63% 17.23% 16.56% 18.78% 14.11% 15.89% 16.37% 16.78%
R&D to Revenue		 23.18% 24.87% 24.79% 24.90% 22.71% 23.32% 21.69% 20.30% 20.15% 20.77% 20.91%
Operating Expenses to Revenue		 84.25% 87.29% 92.27% 99.23% 78.48% 82.31% 87.03% 78.89% 85.65% 70.11% 71.97%
Earnings before Interest and Taxes (EBIT)		 -6.19 -8.56 -14 -19 -1.12 -2.52 -6.81 -0.74 -6.83 5.49 2.57
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -2.20 -4.58 -9.59 -16 2.05 1.55 -3.21 1.74 -4.27 7.66 4.92
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 29.00 19.61 23.85 15.69 14.38 11.89 10.33 9.41 8.51 4.68 4.73
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 0.00
Price to Revenue (P/Rev)		 2.39 1.66 1.92 1.38 1.44 1.35 1.19 1.19 0.98 0.63 0.70
Price to Earnings (P/E)		 0.00 33.56 26.46 12.34 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 2.98% 3.78% 8.10% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 8.61 5.95 7.62 6.62 7.36 6.60 6.96 7.32 6.53 4.70 4.80
Enterprise Value to Revenue (EV/Rev)		 2.61 1.89 2.12 1.52 1.55 1.46 1.25 1.23 1.02 0.63 0.70
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 195.30 0.00 113.95 24.20
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 498.54
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 239.36
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 18.46 19.67 16.25 13.25 11.31 13.69 5.04 6.95
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 237.69 47.10 35.88 64.10 10.10 22.06
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 13.30 12.65 13.06 7.48 6.49 4.14 4.06 3.67 3.99 3.34 3.03
Long-Term Debt to Equity		 13.30 12.63 13.04 7.48 6.49 4.14 4.06 3.67 3.89 3.26 2.95
Financial Leverage		 1.42 2.10 1.98 2.46 1.79 1.69 1.32 0.85 0.70 0.42 0.23
Leverage Ratio		 12.89 14.73 17.35 15.78 13.32 11.21 11.64 8.98 8.93 7.19 6.94
Compound Leverage Factor		 7.76 10.50 14.19 5.48 24.48 -0.76 13.95 24.73 10.65 5.47 3.53
Debt to Total Capital		 93.01% 92.67% 92.89% 88.20% 86.64% 80.56% 80.25% 78.60% 79.96% 76.98% 75.20%
Short-Term Debt to Total Capital		 0.00% 0.15% 0.11% 0.00% 0.00% 0.00% 0.00% 0.00% 2.06% 1.98% 1.94%
Long-Term Debt to Total Capital		 93.01% 92.52% 92.77% 88.20% 86.64% 80.56% 80.25% 78.60% 77.91% 75.00% 73.25%
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% 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% 0.00%
Common Equity to Total Capital		 6.99% 7.33% 7.11% 11.80% 13.36% 19.44% 19.75% 21.40% 20.04% 23.02% 24.80%
Debt to EBITDA		 -5.77 -7.89 -9.67 -6.75 -7.76 -7.25 -10.25 73.68 -37.47 81.49 15.57
Net Debt to EBITDA		 -1.16 -1.72 -1.82 -1.46 -1.32 -1.65 -1.43 6.61 -3.35 -0.12 -0.09
Long-Term Debt to EBITDA		 -5.77 -7.88 -9.66 -6.75 -7.76 -7.25 -10.25 73.68 -36.51 79.39 15.17
Debt to NOPAT		 -6.70 -8.53 -9.82 -6.64 -7.42 -6.28 -7.72 -21.64 -13.83 -27.86 154.01
Net Debt to NOPAT		 -1.35 -1.86 -1.84 -1.44 -1.26 -1.43 -1.07 -1.94 -1.24 0.04 -0.93
Long-Term Debt to NOPAT		 -6.70 -8.52 -9.80 -6.64 -7.42 -6.28 -7.72 -21.64 -13.48 -27.15 150.03
Altman Z-Score		 0.57 0.26 0.33 -0.34 -0.08 -0.34 -0.52 -0.42 -0.71 -0.73 -0.68
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 4.83 5.06 4.51 2.81 2.85 2.34 2.13 2.14 1.98 1.98 2.03
Quick Ratio		 4.35 4.48 4.07 2.45 2.57 2.00 1.89 1.88 1.77 1.76 1.83
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -20 -18 -32 3.91 23 32 25 19 12 32 12
Operating Cash Flow to CapEx		 1,271.93% -423.95% 1,103.20% 523.78% 1,570.52% 48.61% 821.14% 355.68% 31.06% 428.80% 100.99%
Free Cash Flow to Firm to Interest Expense		 -27.36 -24.91 -44.01 0.00 8.57 0.00 9.77 7.50 4.91 13.08 4.94
Operating Cash Flow to Interest Expense		 18.47 -4.75 16.30 0.00 4.57 0.00 5.38 4.26 0.39 7.40 2.05
Operating Cash Flow Less CapEx to Interest Expense		 17.02 -5.87 14.83 0.00 4.28 0.00 4.72 3.06 -0.88 5.67 0.02
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.67 0.70 0.71 0.86 0.85 0.92 0.89 1.05 1.05 1.14 1.11
Accounts Receivable Turnover		 8.50 6.47 6.67 6.94 7.76 8.03 6.97 7.42 6.98 7.40 6.71
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 32.04 31.42 31.90 33.15 34.39 36.97 35.61 33.04 29.63 28.49 24.37
Accounts Payable Turnover		 9.90 10.32 11.58 10.69 10.35 10.23 9.58 8.24 8.62 9.28 8.75
Days Sales Outstanding (DSO)		 42.93 56.42 54.69 52.63 47.05 45.48 52.35 49.19 52.29 49.32 54.39
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 36.88 35.36 31.52 34.14 35.28 35.68 38.10 44.32 42.36 39.31 41.70
Cash Conversion Cycle (CCC)		 6.05 21.06 23.16 18.49 11.77 9.80 14.25 4.87 9.92 10.00 12.68
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 94 101 90 76 70 74 61 57 53 47 51
Invested Capital Turnover		 3.60 3.35 4.11 3.91 4.06 3.82 4.48 5.12 5.54 5.75 6.23
Increase / (Decrease) in Invested Capital		 16 12 22 -17 -24 -27 -29 -19 -17 -27 -10
Enterprise Value (EV)		 809 602 687 502 517 489 422 417 349 219 243
Market Capitalization		 740 528 623 455 480 453 400 403 335 219 244
Book Value per Share		 $0.34 $0.35 $0.34 $0.37 $0.43 $0.48 $0.48 $0.53 $0.48 $0.57 $0.63
Tangible Book Value per Share		 ($0.70) ($0.65) ($0.62) ($0.55) ($0.46) ($0.40) ($0.35) ($0.27) ($0.29) ($0.18) ($0.10)
Total Capital		 365 367 367 246 250 196 196 200 196 204 208
Total Debt		 340 341 341 217 216 158 158 157 157 157 157
Total Long-Term Debt		 340 340 340 217 216 158 158 157 153 153 152
Net Debt		 68 74 64 47 37 36 22 14 14 -0.23 -0.95
Capital Expenditures (CapEx)		 1.04 0.81 1.06 1.06 0.79 0.83 1.65 2.97 3.16 4.29 5.04
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -0.02 9.86 0.45 -13 -16 -11 -24 -28 -33 -39 -37
Debt-free Net Working Capital (DFNWC)		 271 276 277 157 163 110 111 115 110 118 120
Net Working Capital (NWC)		 271 276 277 157 163 110 111 115 106 114 116
Net Nonoperating Expense (NNE)		 -0.81 0.63 1.81 -6.46 1.86 5.33 3.63 1.94 3.75 1.42 1.18
Net Nonoperating Obligations (NNO)		 68 74 64 47 37 36 22 14 14 -0.23 -0.95
Total Depreciation and Amortization (D&A)		 3.99 3.98 4.01 3.59 3.18 4.07 3.60 2.48 2.56 2.17 2.36
Debt-free, Cash-free Net Working Capital to Revenue		 -0.01% 3.10% 0.14% -3.95% -4.93% -3.42% -7.18% -8.31% -9.58% -11.37% -10.74%
Debt-free Net Working Capital to Revenue		 87.67% 86.84% 85.51% 47.53% 49.02% 32.97% 33.00% 33.83% 32.19% 33.91% 34.65%
Net Working Capital to Revenue		 87.67% 86.67% 85.38% 47.53% 49.02% 32.97% 33.00% 33.83% 31.01% 32.74% 33.49%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.04) ($0.08) ($0.15) ($0.09) ($0.03) $0.00 ($0.10) ($0.03) ($0.11) $0.05 $0.01
Adjusted Weighted Average Basic Shares Outstanding		 75.14M 76.63M 77.46M 77.87M 77.60M 78.84M 80.12M 80.76M 80.30M 82.04M 82.63M
Adjusted Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.05 $0.01
Adjusted Weighted Average Diluted Shares Outstanding		 76.60M 77.27M 77.75M 78.38M 78.60M 80.10M 80.74M 81.26M 82.20M 82.32M 82.79M
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 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 76.60M 77.27M 77.75M 78.38M 78.60M 80.10M 80.74M 81.26M 82.20M 82.51M 82.86M
Normalized Net Operating Profit after Tax (NOPAT)		 -3.17 -5.53 -7.41 -6.30 0.56 -0.12 -3.54 -0.25 0.59 5.96 2.29
Normalized NOPAT Margin		 -3.77% -6.88% -9.05% -7.53% 0.65% -0.14% -4.20% -0.29% 0.66% 6.86% 2.70%
Pre Tax Income Margin		 -4.43% -7.59% -13.59% -8.03% -2.37% 0.21% -9.67% -2.36% -9.11% 4.81% 1.55%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 -8.61 -11.89 -18.89 0.00 -0.42 0.00 -2.70 -0.30 -2.75 2.21 1.03
NOPAT to Interest Expense		 -5.54 -8.00 -13.11 0.00 -0.19 0.00 -1.88 -0.12 -1.86 2.07 0.92
EBIT Less CapEx to Interest Expense		 -10.06 -13.01 -20.37 0.00 -0.71 0.00 -3.35 -1.49 -4.02 0.49 -0.99
NOPAT Less CapEx to Interest Expense		 -6.99 -9.12 -14.59 0.00 -0.49 0.00 -2.54 -1.32 -3.13 0.35 -1.11
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% 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% 0.00%

Financials Breakdown Chart

Key Financial Trends

Commerce.com (NASDAQ: CMRC) is showing a clear turnaround in early 2026, but the business is still not back to consistent profitability. The company posted positive net income and healthy operating cash flow in Q1 2026, a sharp improvement from the losses seen in 2025 and the much weaker results from 2023 and 2024. At the same time, leverage remains meaningful and revenue growth is still modest, so investors should view the progress as encouraging but not yet fully durable.

What stands out most in the latest quarter:

  • Q1 2026 net income was $3.7 million, a big swing from a $8.4 million loss in Q4 2025 and much larger losses in prior years.
  • Operating cash flow improved to $18.4 million in Q1 2026, up from $1.0 million in Q4 2025 and $10.6 million in Q3 2025.
  • The balance sheet still has a strong liquidity cushion, with $57.2 million in cash and equivalents plus $97.9 million in short-term investments.
  • Total current assets of $230.0 million exceed total current liabilities of $116.4 million, suggesting solid near-term liquidity.
  • Current deferred revenue of $68.8 million provides a meaningful base of future recognized revenue.
  • Revenue in Q1 2026 was $86.8 million, only slightly above the $82.4 million reported in Q1 2025, indicating growth remains limited.
  • Gross margin remains healthy, with gross profit of $66.7 million on revenue of $86.8 million.
  • The company continues to carry significant goodwill and intangible assets, which can be a concern if growth stalls or impairments arise.
  • Total debt remains high at about $156.8 million, including $152.8 million of long-term debt.
  • Marketing, R&D, and restructuring costs remain elevated, and operating income was only $5.8 million despite the revenue base.

Trend analysis over the last several years: Commerce.com has moved from heavy losses in 2023 and 2024 toward much better profitability in 2025 and early 2026. Revenue has stayed relatively stable in the low-to-mid $80 million range per quarter, which suggests the recent improvement has come more from expense control and operating discipline than from a major acceleration in sales. That is a positive sign, but it also means the turnaround could be sensitive if growth softens again.

Balance sheet trends are mixed. Cash and investments remain substantial, but the company has also worked through periods of debt reduction and balance sheet restructuring. Equity is still thin relative to assets because retained earnings remain deeply negative, a reminder of years of accumulated losses. The latest quarter’s improvement in earnings and cash flow helps, but leverage and low equity still warrant attention.

Bottom line: CMRC’s latest quarter shows meaningful operational progress, especially on profitability and cash generation. However, the company still has a sizable debt load and only modest top-line growth, so the turnaround story looks promising but not fully proven yet.

08/10/26 04:03 PM ETAI Generated. May Contain Errors.

Commerce.com Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Commerce.com's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

The last 5 years of Commerce.com's net income performance:
  • 2021: -$76.68 million
  • 2022: -$139.92 million
  • 2023: -$64.67 million
  • 2024: -$27.03 million
  • 2025: -$19.34 million
Find out what analysts predict for Commerce.com in the coming months.

Commerce.com's total operating income in 2025 was -$16.22 million, based on the following breakdown:
  • Total Gross Profit: $269.60 million
  • Total Operating Expenses: $285.81 million

Over the last 7 years, Commerce.com's total revenue changed from $91.87 million in 2018 to $342.35 million in 2025, a change of 272.7%.

Commerce.com's total liabilities were at $269.44 million at the end of 2025, a 12.2% decrease from 2024, and a 200.7% increase since 2019.

In the past 6 years, Commerce.com's cash and equivalents has ranged from $7.80 million in 2019 to $297.56 million in 2021, and is currently $44.26 million as of their latest financial filing in 2025.

Over the last 7 years, Commerce.com's book value per share changed from 0.00 in 2018 to 0.48 in 2025, a change of 48.4%.


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Financial statements for NASDAQ:CMRC last updated on 8/6/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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