Commerce.com Past Earnings Performance
Past criteria checks 0/6
Commerce.com has been growing earnings at an average annual rate of 25.8%, while the IT industry saw earnings growing at 10.3% annually. Revenues have been growing at an average rate of 12.1% per year.
Key information
25.76%
Earnings growth rate
28.36%
EPS growth rate
| IT Industry Growth | 22.43% |
| Revenue growth rate | 12.07% |
| Return on equity | -32.55% |
| Net Margin | -4.40% |
| Last Earnings Update | 31 Mar 2026 |
Recent past performance updates
Recent updates
Narrative Update • May 17
CMRC: AI Shopping Tools And Payments Integration Will Drive Future Upside
Commerce.com’s analyst price target has moved higher by $0.34 as analysts factor in updated assumptions around fair value, discount rate, revenue growth, profit margin and future P/E, alongside recent Street research including the $1 price target increase and earlier $1 reduction at Barclays. Analyst Commentary Recent research shows a mix of optimism and caution around Commerce.com, with price targets adjusted in both directions as analysts reassess fair value, execution risk and growth trends.Seeking Alpha • May 08
Commerce.com: Not Out Of The Woods Yet With Weak Growth, High Churn
Summary Commerce.com saw a 20%+ post-earnings rally driven by accelerating GMV and price stabilization. Despite the Q1 beat, I maintain a "Sell" rating due to persistent concerns and inferior growth relative to peers. The company has had a choppy history for revenue and GMV growth, and Shopify is growing at nearly a 3x faster pace than Commerce.com despite being >10x larger. I recognize recent execution improvements but do not view CMRC as out of the woods yet. Read the full article on Seeking AlphaNarrative Update • May 02
CMRC: Agentic Commerce And AI Integrations Will Drive Future Upside
Analysts have trimmed their price targets on Commerce.com, with one key target moving from $3 to $2. They point to ongoing deceleration in recurring revenue and sales growth and signal that the latest quarterly report does not materially change the existing investment narrative.Narrative Update • Apr 18
CMRC: Global Integrations And AI Protocol Adoption Will Drive Future Upside
Analysts have trimmed the average price target on Commerce.com, with the new fair value estimate moving from about $4.96 to roughly $4.71. They point to slower recurring revenue and sales growth and highlight reduced future P/E assumptions following recent research updates from several firms.Narrative Update • Apr 03
CMRC: Global Commerce Integrations And AI Protocol Adoption Will Support Future Upside
Analysts have trimmed their average price target on Commerce.com by $1 to $2, pointing to slower recurring revenue and sales growth as key reasons for the reset. Analyst Commentary Recent Street research around Commerce.com centers on slower recurring revenue and sales growth, with several firms trimming price targets and at least one high profile downgrade.Narrative Update • Mar 19
CMRC: Global Partnerships And AI Commerce Protocol Will Support Future Upside
Analysts have reduced their average price target on Commerce.com by $1, reflecting recent cuts from firms that now cite decelerating recurring revenue and sales growth as key concerns. Analyst Commentary Recent research suggests that price target cuts on Commerce.com are tied closely to concerns about execution on growth and the pace of recurring revenue expansion, rather than any single quarterly print.Narrative Update • Mar 05
CMRC: Global Checkout Partnerships And AI Shopping Standards Will Support Future Upside
Analysts have reduced their average price target on Commerce.com by $1. This change reflects a cautious view linked to slower recurring revenue and moderating sales growth highlighted in recent research updates.Narrative Update • Feb 19
CMRC: Global Checkout And AI Shopping Protocols Will Drive Future Upside
Analysts have reduced their price target on Commerce.com to $2, down $1 from the prior $3 level. They cite ongoing concerns around decelerating recurring revenue and sales growth, which they say leave the core investment story largely unchanged.Narrative Update • Feb 05
CMRC: Global Payments And AI Shopping Protocols Will Drive Future Upside
Analysts have trimmed their price target on Commerce.com by about $0.10, citing a slightly higher required discount rate and a small reset in forward P/E assumptions following recent research updates. Analyst Commentary Recent Street research around Commerce.com highlights a mixed picture, with some analysts focusing on potential execution upside while others are more cautious about valuation support and risk pricing.Analysis Article • Jan 30
Commerce.com, Inc.'s (NASDAQ:CMRC) 25% Dip In Price Shows Sentiment Is Matching Revenues
To the annoyance of some shareholders, Commerce.com, Inc. ( NASDAQ:CMRC ) shares are down a considerable 25% in the...Narrative Update • Jan 21
CMRC: Higher Margins And Agentic Commerce Push Will Support Future Upside
Analysts have reduced their price target on Commerce.com to about $6.50 from roughly $7.56, citing updated views on fair value, a higher discount rate, slightly softer revenue growth assumptions, improved profit margin expectations, and a lower future P/E outlook following recent research, including a downgrade at a major firm. Analyst Commentary Bullish Takeaways Bullish analysts see improved profit margin expectations as a key support for the revised fair value, arguing that better cost control could help offset softer revenue assumptions.Analysis Article • Nov 23
Are Investors Undervaluing Commerce.com, Inc. (NASDAQ:CMRC) By 38%?
Key Insights Using the 2 Stage Free Cash Flow to Equity, Commerce.com fair value estimate is US$7.04 Commerce.com's...Analysis Article • Aug 02
Would Commerce.com (NASDAQ:CMRC) Be Better Off With Less Debt?
Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...Analysis Article • Jun 16
BigCommerce Holdings, Inc.'s (NASDAQ:BIGC) Business And Shares Still Trailing The Industry
BigCommerce Holdings, Inc.'s ( NASDAQ:BIGC ) price-to-sales (or "P/S") ratio of 1.1x might make it look like a buy...
New Narrative • Mar 28
SaaS Leaders And AI Will Transform Sales Operations
Recruitment of experienced leaders and sales process reorganization are expected to enhance sales efficiency and drive profitable revenue growth.Seeking Alpha • Mar 09
BigCommerce: Enterprise Account Slippage And C-Suite Hires Raise Concerns (Downgrade)
Summary Shares of BigCommerce fell after reporting disappointing Q4 results, derailing an attempted rebound rally this year. The company's ARR growth slowed to near-zero, while it's also facing a decline in enterprise accounts. Recent executive hires contradict restructuring goals, showing limited commitment to margin expansion. BigCommerce's valuation is cheap but reflects minimal growth and margin expansion. I'm downgrading BigCommerce to a sell rating. Read the full article on Seeking AlphaSeeking Alpha • Feb 25
BigCommerce Holdings Q4 Results: A Solid E-Commerce Growth Play (Upgrade)
Summary BigCommerce Holdings, Inc. saw moderate top line growth in the fourth quarter. BigCommerce achieved record gross profits and beat both top and bottom line estimates for Q4 2024. The e-Commerce market is projected to grow significantly, benefiting BigCommerce, which has a strong market position in the enterprise segment. BIGC stock is valued attractively compared to rivals like Shopify and Amazon, but risks include slowing enterprise growth and meeting profitability targets for FY 2025. Read the full article on Seeking AlphaAnalysis Article • Feb 11
Does BigCommerce Holdings (NASDAQ:BIGC) Have A Healthy Balance Sheet?
Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...Seeking Alpha • Dec 22
BigCommerce: Slow Growth Still An Issue, But Layoffs Are Moving In Right Direction (Rating Upgrade)
Summary BigCommerce has struggled in 2024, shedding ~30% of its value, but a Q3 earnings beat and layoffs prompt my upgrade to a neutral rating. The company focuses on profitability with positive adjusted EBITDA and pro forma operating margins, aiming for further margin expansion through management restructuring. Risks include dramatic growth slowdown, higher churn, and fierce competition from Shopify, which is growing faster and capturing market share. The stock trades at an opportunistic ~1.5x forward revenue. Shares could gain if the company's restructuring provides substantial adjusted EBITDA expansion next year. Read the full article on Seeking AlphaAnalysis Article • Dec 14
Revenues Working Against BigCommerce Holdings, Inc.'s (NASDAQ:BIGC) Share Price
You may think that with a price-to-sales (or "P/S") ratio of 1.7x BigCommerce Holdings, Inc. ( NASDAQ:BIGC ) is a stock...Seeking Alpha • Dec 03
BigCommerce Holdings: Growing E-Commerce Venture At A Cheap Price
Summary BigCommerce's shares surged after Q3 earnings, reversing a negative trend due to stronger-than-expected top-line growth and an improving earnings profile. BigCommerce is improving key platform metrics such as gross margin, average revenue per user and guided for stronger (non-GAAP) operating income in FY 2024. Despite a post-pandemic revenue slowdown, BigCommerce's enterprise focus and growing e-Commerce market present an opportunity for investors in the long term. BigCommerce's shares are undervalued compared to Shopify and their 3-year average P/S ratio, with significant upside potential if it achieves consistent operating income profitability going forward. Read the full article on Seeking AlphaAnalysis Article • Nov 08
BigCommerce Holdings (NASDAQ:BIGC) Is Making Moderate Use Of Debt
Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...Seeking Alpha • Oct 03
BigCommerce: SaaS Play At A Cheap Price
Summary BigCommerce shares fell after Q2 earnings, but positive adjusted operating income suggests a potential turnaround. Despite monetization struggles, BigCommerce attracts large enterprise brands and shows promising signs with its expected adjusted operating income turnaround in FY 2024. Shares have lost 42% this year, reflecting top line and earnings challenges, but the drop also represents a more attractive entry point. Key risks include losing large merchant clients to competitors like Shopify and weak operating income growth in the years ahead. Read the full article on Seeking AlphaSeeking Alpha • Aug 30
BigCommerce: An Unbearable Slowdown
Summary BigCommerce shares have lost more than 30% of their value this year as growth has slowed down to near zero. In its recently released Q2 results, the company reported just 8% y/y growth, decelerating four points sequentially. Its guidance for Q3 points to even worse growth at 5-8% y/y. The company is hurting particularly in the small business space, where price increases have triggered a y/y reduction in ARR. Though cheap at less than 2x forward revenue, this stock remains a value trap. Read the full article on Seeking AlphaAnalysis Article • Aug 07
Market Cool On BigCommerce Holdings, Inc.'s (NASDAQ:BIGC) Revenues Pushing Shares 25% Lower
BigCommerce Holdings, Inc. ( NASDAQ:BIGC ) shareholders won't be pleased to see that the share price has had a very...Analysis Article • Jul 18
An Intrinsic Calculation For BigCommerce Holdings, Inc. (NASDAQ:BIGC) Suggests It's 40% Undervalued
Key Insights The projected fair value for BigCommerce Holdings is US$13.82 based on 2 Stage Free Cash Flow to Equity...Seeking Alpha • Jun 17
BigCommerce: Sell On Stalled Growth (Rating Downgrade)
Summary BigCommerce shares have plummeted over 90% since IPO, showing little hope for a rebound. Terrible Q1 results indicate continued revenue deceleration and loss of market share to Shopify. Despite a cheap share price, BigCommerce's limited growth opportunities and inability to generate meaningful profit make the stock a sell. Read the full article on Seeking AlphaSeeking Alpha • Jun 05
BigCommerce: Solid Value Proposition But Revenue Growth Slowing (Rating Downgrade)
Summary BigCommerce's shares have disappointed since its IPO, with decelerating top line growth and profitability struggles. The e-Commerce industry is still growing, however, and BigCommerce continues to add new clients to its portfolio that leverage BIGC's strength to expand in Europe and the Middle East. BigCommerce is making progress improving its cost structure and could soon become profitable. BigCommerce's valuation is attractive, but there are risks of losing customers to Shopify and failing to achieve profitability. Read the full article on Seeking AlphaAnalysis Article • May 08
Is BigCommerce Holdings (NASDAQ:BIGC) A Risky Investment?
The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...Seeking Alpha • Apr 17
BigCommerce: Wait For Growth To Reaccelerate
Summary BigCommerce's growth has slowed down, with y/y growth decelerating in the fourth quarter of 2023. The company's guidance for FY24 suggests that underlying demand is still poor, and further growth deterioration is possible. While there are positive takeaways, such as improved profitability and a new sales strategy, it is recommended to wait for clear growth improvement before investing. Read the full article on Seeking AlphaSeeking Alpha • Feb 24
BigCommerce: Losses Are Largely Factored In (Rating Upgrade)
Summary BigCommerce stock has lost over 10% of its value year to date and over 30% in the past year. The company has recently shown signs of profitability and growth acceleration, driven by subscription revenue. However, concerns remain primarily around BigCommerce's declining revenue growth, competition with Shopify, and heavy debt. Upgrading the stock to neutral based on recent improving trends, but BigCommerce isn't exactly in the clear just yet. Read the full article on Seeking AlphaAnalysis Article • Feb 06
BigCommerce Holdings, Inc. (NASDAQ:BIGC) Shares Could Be 37% Below Their Intrinsic Value Estimate
Key Insights Using the 2 Stage Free Cash Flow to Equity, BigCommerce Holdings fair value estimate is US$12.60...Analysis Article • Nov 06
Is BigCommerce Holdings, Inc. (NASDAQ:BIGC) Trading At A 39% Discount?
Key Insights Using the 2 Stage Free Cash Flow to Equity, BigCommerce Holdings fair value estimate is US$16.44...Analysis Article • Oct 16
Is It Time To Consider Buying BigCommerce Holdings, Inc. (NASDAQ:BIGC)?
While BigCommerce Holdings, Inc. ( NASDAQ:BIGC ) might not be the most widely known stock at the moment, it received a...Analysis Article • Jun 29
Is There An Opportunity With BigCommerce Holdings, Inc.'s (NASDAQ:BIGC) 50% Undervaluation?
Key Insights The projected fair value for BigCommerce Holdings is US$19.53 based on 2 Stage Free Cash Flow to Equity...Revenue & Expenses Breakdown
Revenue & Expenses Breakdown
How Commerce.com makes and spends money. Based on latest reported earnings, on an LTM basis.
Earnings and Revenue History
| Date | Revenue | Earnings | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 31 Mar 26 | 347 | -15 | 189 | 72 |
| 31 Dec 25 | 342 | -19 | 193 | 73 |
| 30 Sep 25 | 340 | -13 | 188 | 75 |
| 30 Jun 25 | 338 | -18 | 189 | 78 |
| 31 Mar 25 | 335 | -21 | 188 | 80 |
| 31 Dec 24 | 333 | -27 | 191 | 81 |
| 30 Sep 24 | 330 | -28 | 195 | 81 |
| 30 Jun 24 | 324 | -41 | 196 | 81 |
| 31 Mar 24 | 318 | -49 | 196 | 83 |
| 31 Dec 23 | 309 | -65 | 199 | 83 |
| 30 Sep 23 | 298 | -94 | 204 | 87 |
| 30 Jun 23 | 292 | -104 | 208 | 87 |
| 31 Mar 23 | 285 | -125 | 212 | 88 |
| 31 Dec 22 | 279 | -140 | 211 | 88 |
| 30 Sep 22 | 272 | -141 | 206 | 85 |
| 30 Jun 22 | 258 | -133 | 192 | 80 |
| 31 Mar 22 | 239 | -105 | 173 | 72 |
| 31 Dec 21 | 220 | -77 | 156 | 65 |
| 30 Sep 21 | 198 | -57 | 141 | 59 |
| 30 Jun 21 | 179 | -43 | 130 | 54 |
| 31 Mar 21 | 166 | -41 | 119 | 51 |
| 31 Dec 20 | 152 | -39 | 109 | 48 |
| 30 Sep 20 | 140 | -37 | 98 | 45 |
| 30 Jun 20 | 129 | -41 | 89 | 44 |
| 31 Mar 20 | 120 | -43 | 86 | 43 |
| 31 Dec 19 | 112 | -50 | 83 | 43 |
| 31 Dec 18 | 92 | -44 | 65 | 42 |
Quality Earnings: CMRC is currently unprofitable.
Growing Profit Margin: CMRC is currently unprofitable.
Free Cash Flow vs Earnings Analysis
Past Earnings Growth Analysis
Earnings Trend: CMRC is unprofitable, but has reduced losses over the past 5 years at a rate of 25.8% per year.
Accelerating Growth: Unable to compare CMRC's earnings growth over the past year to its 5-year average as it is currently unprofitable
Earnings vs Industry: CMRC is unprofitable, making it difficult to compare its past year earnings growth to the IT industry (13%).
Return on Equity
High ROE: CMRC has a negative Return on Equity (-32.55%), as it is currently unprofitable.
Return on Assets
Return on Capital Employed
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Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/05/21 14:23 |
| End of Day Share Price | 2026/05/21 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
Learn about the world class team who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Commerce.com, Inc. is covered by 22 analysts. 7 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Raimo Lenschow | Barclays |
| Sunil Rajgopal | Berenberg |
| David Hynes | Canaccord Genuity |