CMRC
Commerce.com, Inc.4.3000
-0.0400-0.92%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
FY Q4 '25
Monetization gaps, agentic hurdles surface
Q&A spotlighted monetization gaps, admitting NRR at 95.2% lags best-in-class and take rates dipped from B2B's disproportionate GMV growth, while reaffirming guidance with wide ranges for macro caution and payments upside. Management detailed agentic integrations gated by partners like OpenAI and Google, slowing B2C replatforms as traffic shifts. BigCommerce Payments launches Q1 with SMB focus and opinionated partner shift for margin lift. Enterprise ARR metrics retire for broader GMV/NRR transparency. NRR demands urgent gains. Investors eye execution on R&D-driven expansion amid stable GMV.
Last Quarter (Q3 '25)
FY Q3 '25
Explains ARR dip, AI demand shift
Q&A unpacked Q3's enterprise ARR downtick as slower bookings, with AI diverting B2C focus from replatforming while B2B stays solid. Data quality—structured plus unstructured—emerges as the moat in answer-engine discoverability, bolstered by their client base and open architecture. Feedonomics Surface launched as top-downloaded app, kickstarting product-led growth agnostic to platforms like Shopify. Wide Q4 guide flags holiday caution amid resilient signals. Replatforming takes a backseat to AI. Management eyes 2026 for payments depth and faster growth.
Key Stats
Market Cap
349.43MP/E (TTM)
-Basic EPS (TTM)
-0.17Dividend Yield
0%Recent Filings
8-K
Q4/FY25 results: revenue up 3%
Commerce.com reported FY2025 revenue of $342.3M, up 3% YoY, with ARR at $359.1M also up 3% but Enterprise ARR surging 10% to $287.2M. Non-GAAP operating income hit $27.8M amid restructuring; cash flow reached $27.4M. Enterprise accounts grew 13%. Q1 revenue guided $82.5-83.5M. Forward-looking statements carry risks.
8-K
Workforce cuts, CFO named COO
Commerce.com committed to a workforce realignment plan on December 31, 2025, recording $7.4M in Q4 2025 expenses and expecting $6.5M more in 2026, mainly severance, to cut costs and drive profitable growth. The plan projects $12.2M total operating cash flow savings in 2026. Daniel Lentz added COO duties to his CFO role on January 1, 2026, without compensation change. Risks include higher costs and talent retention issues.
10-Q
Q3 FY2025 results
Commerce.com posted Q3 revenue of $86M, up 2.8% y/y and driving gross profit to $67M at 78.4% margin, while swinging to a near-breakeven operating loss of $(0.4)M from $(19.2)M y/y, thanks to lower R&D and G&A after restructuring. Cash from operations hit $10.6M; free cash flow not disclosed in the 10-Q. Convertible notes stand at $157M ($150M 2028s at 7.5%, $4M 2026s), with $142M in cash and marketable securities. Repaid $54.5M notes YTD for $3.9M gain. Diluted EPS $(0.03) aligns with 80.8M shares. Operating cash beats net loss. Tariffs threaten customer demand.
8-K
Q3 revenue up 3%, profitability surges
8-K
CCO Klein retires November 1
Commerce.com's Chief Commercial Officer Russell Klein will retire effective November 1, 2025, after mutual agreement on October 6. Senior VP Michaela Weber assumes his duties. Klein qualifies for six months' base salary and healthcare premiums, pending release and covenants. Smooth transition. Leadership shift tests continuity.
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