$CMRC

Commerce.com, Inc.

CIK:0001626450|SEC Filings

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands

3 Months Ended

6 Months Ended

Jun. 30, 2026

Jun. 30, 2025

Jun. 30, 2026

Jun. 30, 2025

Income Statement [Abstract]

Revenue

$ 84,511

$ 84,433

$ 171,353

$ 166,803

Cost of revenue

^[1]

20,982

17,739

41,173

34,723

Gross profit

63,529

66,694

130,180

132,080

Operating expenses:

Sales and marketing

^[1]

27,510

35,071

53,706

65,437

Research and development

^[1]

17,674

18,310

35,707

37,516

General and administrative

^[1]

14,183

15,855

28,398

29,499

Amortization of intangible assets

1,453

2,520

2,982

4,855

Acquisition related costs

111

444

Restructuring charges

1,614

915

3,526

Total operating expenses

60,825

73,481

121,708

141,277

Income (loss) from operations

2,704

(6,787)

8,472

(9,197)

Gain on convertible note extinguishment

3,931

Interest income

1,231

1,171

2,401

2,471

Interest expense

(2,490)

(2,522)

(4,973)

(5,065)

Other expense

(139)

(23)

(413)

(130)

Income (loss) before provision for income taxes

1,306

(8,161)

5,487

(7,990)

Provision for income taxes

(204)

(221)

(656)

(745)

Net income (loss)

$ 1,102

$ (8,382)

$ 4,831

$ (8,735)

Basic net income (loss) per share

$ 0.01

$ (0.1)

$ 0.06

$ (0.11)

Diluted net income (loss) per share

$ 0.01

$ (0.1)

$ 0.06

$ (0.11)

Shares used to compute basic net income (loss) per share

82,627

80,122

82,337

79,482

Shares used to compute diluted net income (loss) per share

82,790

80,122

82,564

79,482

[1]

Amounts include stock-based compensation expense and associated payroll tax costs, as follows:


	Three months ended June 30,				Six months ended June 30,
	2026		2025		2026		2025
Cost of revenue	$	412	$	720	$	946	$	1,466
Sales and marketing		602		1,820		806		3,595
Research and development		1,367		2,740		2,869		5,782
General and administrative		1,572		2,045		3,566		1,901

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities
Net income (loss)	$ 1,102	$ (8,382)	$ 4,831	$ (8,735)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization expense	3,015	3,845	5,901	8,126
Amortization of discount on convertible notes	178	165	352	352
Amortization of premium on convertible notes	(433)	(408)	(860)	(810)
Accretion on marketable securities, net	(404)	0	(867)	0
Stock-based compensation expense	3,916	7,236	8,006	12,445
Provision for expected credit losses	1,110	1,598	1,724	2,528
Gain on convertible notes extinguishment	0	0	0	(3,931)
Changes in operating assets and liabilities:
Accounts receivable	(3,451)	(9,005)	(3,463)	(5,985)
Prepaid expenses and other assets	2,828	2,159	(111)	(2,925)
Deferred commissions	533	747	1,974	2,682
Accounts payable	824	444	(60)	1,122
Accrued and other liabilities	(5,044)	8,078	(4,144)	(59)
Deferred revenue	918	7,080	10,183	9,148
Net cash provided by operating activities	5,092	13,557	23,466	13,958
Cash flows from investing activities:
Cash paid for website domain name	0	0	0	(2,444)
Purchase of capitalized internal-use software, leasehold improvements, and property and equipment	(5,042)	(1,651)	(9,327)	(2,476)
Maturity of marketable securities	19,000	13,000	43,000	41,579
Purchase of marketable securities	(19,658)	(32,572)	(44,765)	(40,517)
Net cash used in investing activities	(5,700)	(21,223)	(11,092)	(3,858)
Cash flows from financing activities:
Proceeds from exercise of stock options	13	1,973	552	3,069
Taxes paid related to net share settlement of equity awards	(167)	(126)	(760)	(1,351)
Payment of convertible note issuance costs	0	0	0	(217)
Repayment of convertible notes and financing obligation	0	0	0	(54,528)
Net cash provided by (used in) financing activities	(154)	1,847	(208)	(53,027)
Net change in cash and cash equivalents and restricted cash	(762)	(5,819)	12,166	(42,927)
Cash and cash equivalents and restricted cash, beginning of period	59,091	53,248	46,163	90,356
Cash and cash equivalents and restricted cash, end of period	58,329	47,429	58,329	47,429
Noncash investing and financing activities:
Capital additions, accrued but not paid	624	735	624	735
Right-of-use asset obtained in exchange for new operating lease liability	0	0	0	5,516
Nonrelated Party
Supplemental cash flow information:
Cash paid for interest	5	0	5	0
Related Party
Supplemental cash flow information:
Cash paid for interest	$ 5,625	$ 0	$ 5,625	$ 5,685

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets
Cash and cash equivalents	$ 57,165	$ 44,258
Restricted cash	1,164	1,905
Marketable securities	99,159	96,838
Accounts receivable, net	51,609	49,967
Prepaid expenses and other assets, net	15,629	15,349
Deferred commissions	4,775	6,045
Total current assets	229,501	214,362
Property and equipment, net	19,487	13,983
Operating lease, right-of-use-assets	6,291	7,090
Prepaid expenses and other assets, net of current portion	6,562	6,677
Deferred commissions, net of current portion	2,762	3,466
Intangible assets, net	8,304	11,286
Goodwill	51,927	51,927
Total assets	324,834	308,791
Current liabilities
Accounts payable	9,324	9,870
Accrued liabilities	2,621	4,787
Deferred revenue	69,759	59,576
Convertible notes	4,046	4,037
Operating lease liabilities	1,796	1,576
Other liabilities	25,785	28,340
Total current liabilities	113,331	108,186
Operating lease liabilities, net of current portion	6,172	6,892
Other liabilities, net of current portion	1,208	1,347
Total liabilities	273,205	269,437
Stockholders’ equity
Common stock	7	7
Additional paid-in capital	687,951	680,153
Accumulated other comprehensive income	(130)	224
Accumulated deficit	(636,199)	(641,030)
Total stockholders’ equity	51,629	39,354
Total liabilities and stockholders’ equity	324,834	308,791
Related Party
Current liabilities
Convertible notes, net of current portion - related party	$ 152,494	$ 153,012