CMRC on Nasdaq

Commerce.com, Inc.

Logo: commerce.com4

E-commerce company

Commerce.com Inc. is a NASDAQ-listed ecommerce platform that provides software as a service services to retailers.3 From Wikipedia, CC BY-SA 4.0

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Last updated Oct 18, 2026.

Overview

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  • TickerCMRC on Nasdaq1
  • IndustryDigital Commerce, SaaS, e-commerce, enterprise software, software as a service1
  • HeadquartersAustin1
  • Websitewww.commerce.com
  • Legal formDelaware corporation1
  • Incorporated inDE5
  • Business address11920 Alterra Parkway, Dl 11,, Suite 100, 8Th Floor, Austin, Tx 787585
  • Filer categoryAccelerated filer5

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Commerce.com, Inc. image from its website
Image: commerce.com4

Commerce.com Inc. is a NASDAQ-listed ecommerce platform that provides software as a service services to retailers. The company's platform includes online store creation, search engine optimization, hosting, and marketing and security from small to Enterprise sized businesses.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

78.7%Gross margin7
-4.7%Operating margin7
-5.6%Net margin7
2.8%Revenue growth, 20257
-49.1%Return on equity7
3.99×Debt to equity7

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Subscription and Circulation brought in 75% of the revenue Commerce.com, Inc. broke down this way in fiscal 2025.

  1. Subscription and Circulation$255.6M775%up 3% from 2024
  2. Partner And Services$86.7M725%up 2% from 2024
Products and services by year
Products and services202320242025
Subscription and Circulation$229.3M$247.9M$255.6M
Partner And Services$80.1M$85.1M$86.7M

Regions

United States brought in 76% of the revenue Commerce.com, Inc. broke down this way in fiscal 2025.

  1. United States$259.1M776%up 2% from 2024
  2. EMEA$42.6M712%up 12% from 2024
  3. Asia Pacific$24.8M77%down 4% from 2024
  4. Rest of World$15.9M75%up 2% from 2024
Regions by year
Regions202320242025
United States$236.5M$253.5M$259.1M
EMEA$34.7M$38.0M$42.6M
Asia Pacific$24.1M$25.8M$24.8M
Rest of World$14.1M$15.7M$15.9M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue21¢$72.8M
  • Research and development21¢$73.0M
  • Other costs54¢$185.4M
  • Interest3¢$10.0M
  • Income tax0¢$1.2M

Out of $342.3M in revenue.7 The company lost money this year.

Where each dollar of operating cash went, fiscal 2025

  • Kept or used elsewhere100¢$25.5M

Out of $25.5M of cash from operations.7

Financial statements

Revenue8910117$342.3M in 2025+205% since 2019
0$100.0M$200.0M$300.0M$400.0M2019: $112.1M$112.1M20192020: $152.4M$152.4M2020+36%2021: $219.9M$219.9M2021+44%2022: $279.1M$279.1M2022+27%2023: $309.4M$309.4M2023+11%2024: $332.9M$332.9M2024+8%2025: $342.3M$342.3M2025+3%
Gross profit8910117$269.6M in 2025+217% since 2019
0$100.0M$200.0M$300.0M2019: $85.1M$85.1M20192020: $118.2M$118.2M2020+39%2021: $171.4M$171.4M2021+45%2022: $209.1M$209.1M2022+22%2023: $235.2M$235.2M2023+12%2024: $255.3M$255.3M2024+9%2025: $269.6M$269.6M2025+6%
Operating income8910117-$16.2M in 2025−60% since 2019
-$150.0M-$100.0M-$50.0M02019: -$41.0M-$41.0M20192020: -$38.7M-$38.7M2020−6%2021: -$75.9M-$75.9M2021+96%2022: -$140.6M-$140.6M2022+85%2023: -$72.4M-$72.4M2023−48%2024: -$41.7M-$41.7M2024−42%2025: -$16.2M-$16.2M2025−61%
Net income8910117-$19.3M in 2025−55% since 2019
-$150.0M-$100.0M-$50.0M02019: -$42.6M-$42.6M20192020: -$37.6M-$37.6M2020−12%2021: -$76.7M-$76.7M2021+104%2022: -$139.9M-$139.9M2022+82%2023: -$64.7M-$64.7M2023−54%2024: -$27.0M-$27.0M2024−58%2025: -$19.3M-$19.3M2025−28%

Every line of the income statement as filed: the last 3 fiscal years, latest first.7

Period ending2025-12-312024-12-312023-12-31
Revenue$342.3M$332.9M$309.4M
Cost of revenue$72.8M$77.6M$74.2M
Gross profit$269.6M$255.3M$235.2M
Sales and marketing$137.0M$129.6M$140.2M
Research and development$73.0M$80.9M$83.5M
General and administrative$55.9M$61.8M$58.8M
Amortization of intangible assets$8.5M$9.7M$8.4M
Acquisition related costs$444.0K$1.3M$10.3M
Restructuring charges$11.0M$13.7M$6.4M
Total operating expenses$285.8M$297.0M$307.6M
Loss from operations-$16.2M-$41.7M-$72.4M
Gain on convertible note extinguishment$3.9M$12.1M$0
Interest income$4.8M$10.6M$11.5M
Interest expense-$10.0M-$6.1M-$2.9M
Other expenses-$681.0K-$958.0K-$836.0K
Loss before provision for income taxes-$18.2M-$26.0M-$64.7M
Provision for income taxes-$1.2M-$1.0M$0
Net loss-$19.3M-$27.0M-$64.7M
Basic net loss per share-$0.24-$0.35-$0.86
Shares used to compute basic net loss per share80.3M shares77.6M shares75.1M shares
Stock-based compensation expense$23.6M$35.4M$41.2M

Compare Commerce.com, Inc. with another company

The story

BigCommerce was founded in Sydney, Australia in 2009 by Australians Eddie Machaalani and Mitchell Harper, who met in an online chatroom in 2003. One year after meeting, Machaalani and Harper launched their first company, Interspire, which evolved into BigCommerce. The company opened its first United States office in Austin, Texas in 2009.

The company raised $15 million in Series A funding from General Catalyst in July 2011.

In 2014, the company expanded its presence on the West Coast, opening a San Francisco office and hiring personnel from PayPal and Amazon. In 2015, BigCommerce acquired Zing, a checkout and inventory software startup.

Brent Bellm, the former HomeAway COO who led HomeAway through its IPO, replaced Machaalani and Harper as CEO in 2015.

BigCommerce partnered with Amazon in 2016 to provide its retailers with the capability to sync inventory across both channels.

In 2019, the company opened its ecommerce platforms to legally-operating U.S.-based CBD and hemp merchants.

In July 2020, BigCommerce filed for IPO. The company went public on August 5, 2020.

In October 2024, Travis Hess replaced Brent Bellm as BigCommerce CEO.

Read the full text

In 2025, the company launched its new parent brand, Commerce. The rebranded entity includes BigCommerce, Feedonomics and Makeswift, and operates under Commerce.com.

From Wikipedia’s article on Commerce.com, shared under CC BY-SA 4.0.6

Leadership

Who has led Commerce.com, Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Brent Bellm2020

Chair

  1. Brent Bellm2020
  2. Ellen F. Siminoff2025–now

President

  1. Brent Bellm2020–2024
  2. Christopher Travis Hess2024

Chief financial officer

  1. Robert Alvarez2020–2023
  2. Daniel Lentz2023–now

Chief operating officer

  1. Daniel Lentz2026–now
2025
Board members and other officers (21)

Former names

  • BigCommerce Holdings, Inc.Dec 3, 2014 to Jul 25, 20255

Timeline

  1. Nov 19, 2020New chief executive Brent Bellm becomes CEO15
  2. Jan 29, 2013Founded Commerce.com, Inc. is founded40

Filings

473 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 53 major events, 285 insider forms, 36 large holders, 79 other. The latest 20:

  1. Sep 23, 20264 PRIMARY DOCUMENT EDGAR
  2. Sep 10, 20268-K EDGAR
  3. Sep 9, 2026SCHEDULE 13D/A EDGAR
  4. Aug 27, 2026SCHEDULE 13D EDGAR
  5. Aug 26, 20264 PRIMARY DOCUMENT EDGAR
  6. Aug 25, 20264 PRIMARY DOCUMENT EDGAR
  7. Aug 25, 20264 PRIMARY DOCUMENT EDGAR
  8. Aug 25, 20264 PRIMARY DOCUMENT EDGAR
  9. Aug 25, 20264 PRIMARY DOCUMENT EDGAR
  10. Aug 24, 2026144 EDGAR
  11. Aug 17, 20264 PRIMARY DOCUMENT EDGAR
  12. Aug 17, 20264 PRIMARY DOCUMENT EDGAR
  13. Aug 17, 20264 PRIMARY DOCUMENT EDGAR
  14. Aug 6, 2026425 EDGAR
  15. Aug 6, 202610-Q EDGAR
  16. Aug 6, 20268-K EDGAR
  17. Jul 6, 20264 PRIMARY DOCUMENT EDGAR
  18. Jul 2, 20264 PRIMARY DOCUMENT EDGAR
  19. Jul 1, 2026144 EDGAR
  20. Jun 5, 20264 PRIMARY DOCUMENT EDGAR

The 473 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last three years, summarized. The full record is on SEC EDGAR.

Insider trades and holders

Large holders

Investors who own more than 5% must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively. 36 such filings since October 2021, the latest 10:

  1. Sep 9, 2026SCHEDULE 13D/A
  2. Aug 27, 2026SCHEDULE 13D
  3. Apr 29, 2026SCHEDULE 13G
  4. Mar 26, 2026SCHEDULE 13G/A
  5. Feb 17, 2026SCHEDULE 13G/A
  6. Feb 17, 2026SCHEDULE 13G/A
  7. Feb 11, 2026SCHEDULE 13G
  8. Oct 17, 2025SCHEDULE 13G/A
  9. Oct 7, 2025SCHEDULE 13G/A
  10. Aug 14, 2025SCHEDULE 13G/A

From Forms 4 and Schedules 13D and 13G filed with the SEC.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Lynrock Lake LP9,266,666$27.4M4.4%No change
BlackRock, Inc.5,520,205$16.3M0.0%+757,150
Vanguard Portfolio Management LLC4,724,240$14.0M0.0%+162,224
Divisar Capital Management LLC3,142,845$9.3M2.1%−784,051
Pale Fire Capital SE3,054,890$9.0M0.6%+102,796
Vanguard Capital Management LLC3,039,302$9.0M0.0%+192,655
Aqr Capital Management LLC2,358,569$7.0M0.0%+739,669
Ameriprise Financial Inc1,930,519$5.7M0.0%+224,494
Geode Capital Management, LLC1,858,023$5.5M0.0%+387,337
S Squared Technology, LLC1,599,142$4.7M1.5%No change
State Street Corp1,437,291$4.3M0.0%−1,572
Connor, Clark & Lunn Investment Management Ltd.1,375,848$4.1M0.0%+140,096
Renaissance Technologies LLC1,237,800$3.7M0.0%−14,300
Monimus Capital Management, LP1,067,329$3.2M0.8%−97,613
HERALD INVESTMENT MANAGEMENT Ltd1,060,000$3.1M0.4%+360,000
Commerce Bank1,000,000$3.0M0.0%No change
Marshall Wace, Llp910,392$2.7M0.0%−116,543
P.a.w. Capital Corp900,000$2.7M2.0%+200,000
Segall Bryant & Hamill, LLC824,473$2.4M0.0%+477,612
Goldman Sachs Group Inc818,882$2.4M0.0%+376,452
Northern Trust Corp612,961$1.8M0.0%+76,956
Charles Schwab Investment Management Inc570,023$1.7M0.0%+63,745
Potrero Capital Research LLC562,424$1.7M1.0%−186,238
Legal & General Group Plc527,084$1.6M0.0%+188,149
Vanguard Fiduciary Trust Co505,362$1.5M0.0%+40,004

13F reports cover disclosed long positions in U.S. stocks only.

Sources

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