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Commerce.com
Commerce.com (CMRC) investor relations material
Commerce.com Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary12 Feb, 2026
Executive summary
Achieved $342.3M in revenue for 2025, up 3% year-over-year, with ARR reaching $359.1M, 80% from enterprise accounts, and non-GAAP operating income of $28M.
Transitioned to an AI-led, agentic commerce platform, rebranded under a unified platform, and launched new products like Surface and Makeswift.
Recognized for leadership in B2B and B2C commerce, with strong analyst accolades and industry awards.
Added major new B2B and consumer customers, and expanded partnerships with OpenAI, Microsoft, Google, PayPal, and Stripe.
2025 marked a business transformation with improved efficiency, margin expansion, and strategic rebrand.
Financial highlights
Q4 revenue was $89.5M, up 3% year-over-year; full-year ARR ended at $359M; subscription solutions revenue rose 5% to $65.2M.
Non-GAAP gross margin reached 79% in 2025; GAAP gross margin improved to 79% from 77%.
Non-GAAP operating margin expanded by 230 bps vs. 2024 and 990 bps vs. 2023; non-GAAP operating income was $7.4M in Q4.
Operating cash flow was $3M for Q4 and $27.4M for 2025; cash and equivalents at year-end were $143M.
Net debt reduced from $33M in 2024 to $11M in 2025, a 67% decrease.
Outlook and guidance
Q1 2026 revenue expected between $82.5M and $83.5M; non-GAAP operating income between $9.3M and $10.3M.
Full-year 2026 revenue guidance of $347.5M–$369.5M, non-GAAP operating income of $34M–$53M, and non-GAAP operating margins of 10%–14%.
Guidance implies 2%–8% full-year growth and exceeds current Street consensus.
Expecting GAAP profitability for the first time in 2026.
Cash and equivalents anticipated to exceed total long-term debt by mid-2026.
How to narrow GMV-ARR gap via NRR
What drives 2026 revenue guidance range?
Feedonomics' edge in agentic commerce
Partial view of Summaries dataset, powered by Quartr API
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Next Commerce.com earnings date
Q1 20267 May, 2026
Commerce.com
Next Commerce.com earnings date
Q1 20267 May, 2026
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Frequently asked questions
Ecommerce infrastructure on tap
BigCommerce is a cloud-based ecommerce platform that provides a comprehensive suite of tools and services for businesses to set up and run their online stores. It offers a range of features, including website design and development, shopping cart functionality, payment gateway integration, inventory management, marketing, and analytics.
BigCommerce's business model revolves around providing a software-as-a-service (SaaS) platform for businesses to create and manage their online stores. The company generates revenue by charging a subscription fee to its users based on the features and services they require. It also generates revenue through transaction fees for using third-party payment gateways.
Assisting merchants of all sizes
Just like Shopify, BigCommerce is designed to cater to the needs of both small businesses and large enterprises, providing scalability and flexibility to businesses of all sizes. Additionally, BigCommerce offers customizable templates, which can also be integrated with multiple sales channels, including Amazon, eBay, and Google Shopping (Alphabet), enabling businesses of all sizes to reach a broader audience.
Overall, BigCommerce provides a robust and reliable platform for businesses to build and run their online stores. Its scalable solutions, customizable templates, and integration with multiple sales channels make it unique and stand out in the crowded ecommerce platform market. The toughest listed peers include Shopify, Magento, WooCommerce, and Volusion. Shopify is the most direct competitor of BigCommerce, offering a similar SaaS platform for online stores.
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