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CMRC on Nasdaq

Commerce.com, Inc.

Logo: commerce.com5

E-commerce company

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 Its shares trade on Nasdaq under the symbol CMRC.1 Wikipedia text CC BY-SA 4.0

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Last updated Oct 21, 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 inDE6
  • Business address11920 Alterra Parkway, Dl 11,, Suite 100, 8Th Floor, Austin, Tx 787586
  • Filer categoryAccelerated filer6
  • LEI549300MOVEFQ78DMPG584
  • StatusActive4
  • LEI statusLapsed (not renewed)4
  • Registered addressc/o THE CORPORATION TRUST COMPANY, CORPORATION TRUST CENTER 1209 ORANGE ST, 19801 Wilmington, United States4
  • Registered withDivision of Corporations, Department of State, 52813524

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Commerce.com, Inc. image from its website
Image: commerce.com5

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 margin9
-4.7%Operating margin9
-5.6%Net margin9
2.8%Revenue growth, 20259
-49.1%Return on equity9
3.99×Debt to equity9

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$255.6M975%up 3% from 2024
  2. Partner And Services$86.7M925%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$259.1M976%up 2% from 2024
  2. EMEA$42.6M912%up 12% from 2024
  3. Asia Pacific$24.8M97%down 4% from 2024
  4. Rest of World$15.9M95%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.9 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.9

Financial statements

Revenue101112139$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 profit101112139$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 income101112139-$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 income101112139-$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.9

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

Corporate structure

Commerce.com, Inc. sits at the top of its group. 15 entities, 10 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Commerce.com, Inc.

  • Pale Fire Capital SE Filed SCHEDULE 13D/A on Commerce.com, Inc., latest Sep 9, 2026 (2 filings since Aug 27, 2026)
  • VANGUARD PORTFOLIO MANAGEMENT LLC Filed SCHEDULE 13G on Commerce.com, Inc., latest Apr 29, 2026
  • VANGUARD GROUP INC Filed SCHEDULE 13G/A on Commerce.com, Inc., latest Mar 26, 2026 (6 filings since Feb 9, 2022)
  • Divisar Capital Management LLC Filed SCHEDULE 13G/A on Commerce.com, Inc., latest Feb 17, 2026 (2 filings since May 28, 2025)
  • Lynrock Lake LP Filed SCHEDULE 13G/A on Commerce.com, Inc., latest Feb 17, 2026 (5 filings since Feb 14, 2025)
  • Barclays Filed SCHEDULE 13G on Commerce.com, Inc., latest Feb 11, 2026
  • BlackRock Filed SCHEDULE 13G/A on Commerce.com, Inc., latest Oct 17, 2025 (5 filings since Feb 4, 2022)
  • CADIAN CAPITAL MANAGEMENT, LP Filed SC 13G/A on Commerce.com, Inc., latest Nov 13, 2024 (2 filings since Feb 14, 2024)
  • WASATCH ADVISORS LP Filed SC 13G/A on Commerce.com, Inc., latest Nov 13, 2024 (2 filings since Feb 9, 2024)
  • Morgan Stanley Filed SC 13G/A on Commerce.com, Inc., latest Nov 6, 2024 (2 filings since Feb 12, 2024)
  • 2005 Slu Odre Filed SC 13G on Commerce.com, Inc., latest Jun 11, 2024
  • Darsana Capital Partners LP Filed SC 13G on Commerce.com, Inc., latest Feb 14, 2024 (3 filings since Jan 21, 2022)
  • Commerce.com, Inc. Austin, Texas, United States
    • BigCommerce France, SARL Subsidiary · France
    • BigCommerce Italy S.R.L. Subsidiary · Italy
    • BigCommerce Netherlands B.V. Subsidiary · Netherlands
    • BigCommerce Open SaaS Mexico, S. de R.L. de C.V. Subsidiary · Mexico
    • BigCommerce Poland Sp. z.o.o Subsidiary · Poland
    • BigCommerce Singapore Pte. Ltd. Subsidiary · Singapore
    • BigCommerce Spain, S.L. Subsidiary · Spain
    • Bundle B2B Inc. Subsidiary · Nevada, United States
    • Commerce Software Ireland Ltd. (f/k/a BigCommerce Software Ireland Ltd.) Subsidiary · Ireland
    • Commerce Software UK Ltd. (f/k/a BigCommerce UK Ltd.) Subsidiary · United Kingdom
    • Commerce.com US, Inc. (f/k/a BigCommerce, Inc.) Subsidiary · Texas, United States
    • Feedonomics Holdings, LLC Subsidiary · Delaware, United States
    • Makeswift, Inc. Subsidiary · Delaware, United States
    • Quote Ninja, Inc. Subsidiary · Texas, United States

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Commerce.com, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$20.2M9 Dec 31, 2025$17.7M9 Dec 31, 2024+14.1%
Accumulated depreciation$6.2M9 Dec 31, 2025$8.5M9 Dec 31, 2024−27.7%
Property and equipment, net$14.0M9 Dec 31, 2025$9.1M9 Dec 31, 2024+53.2%
Operating-lease assets (leased space)$7.1M9 Dec 31, 2025$2.0M9 Dec 31, 2024+255.7%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$44.3M9 Dec 31, 2025$88.9M9 Dec 31, 2024−50.2%
Marketable securities, current$96.8M9 Dec 31, 2025$89.3M9 Dec 31, 2024+8.5%
Debt securities available for sale$96.8M9 Dec 31, 2025$89.3M9 Dec 31, 2024+8.5%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$51.9M9 Dec 31, 2025$51.9M9 Dec 31, 20240%
Intangible assets, net (excluding goodwill)$11.3M9 Dec 31, 2025$17.3M9 Dec 31, 2024−34.8%
Finite-lived intangibles, gross$35.8M9 Dec 31, 2025$45.3M9 Dec 31, 2024−21.1%
Accumulated amortization$24.5M9 Dec 31, 2025$28.0M9 Dec 31, 2024−12.6%
Finite-lived intangibles, net$11.3M9 Dec 31, 2025$17.3M9 Dec 31, 2024−34.8%

Properties, in its own words

Our worldwide corporate headquarters is located in Austin, Texas. In January 2025, we executed a sublease agreement in Austin, Texas for approximately 65,000 square feet of office space for our corporate headquarters. We also have office locations across the United States and globally, including London, England; Atlanta, Georgia; and Sydney, Australia. We believe our current facilities are suitable for the composition of our staff, and additional space is available as needed to accommodate any such expansion of our operations.

Item 2 of the 10-K filed Mar 2, 2026.17

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 4.0.7

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)

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • BigCommerce France, SARL France8
  • BigCommerce Italy S.R.L. Italy8
  • BigCommerce Netherlands B.V. Netherlands8
  • BigCommerce Open SaaS Mexico, S. de R.L. de C.V. Mexico8
  • BigCommerce Poland Sp. z.o.o Poland8
  • BigCommerce Singapore Pte. Ltd. Singapore8
  • BigCommerce Spain, S.L. Spain8
  • Bundle B2B Inc. Nevada8
  • Commerce Software Ireland Ltd. (f/k/a BigCommerce Software Ireland Ltd.) Republic of Ireland8
  • Commerce Software UK Ltd. (f/k/a BigCommerce UK Ltd.) England and Wales8
  • Commerce.com US, Inc. (f/k/a BigCommerce, Inc.) Texas8
  • Feedonomics Holdings, LLC Delaware8
  • Makeswift, Inc. Delaware8
  • Quote Ninja, Inc. Texas8

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Former names

  • BigCommerce Holdings, Inc.Dec 3, 2014 to Jul 25, 20256

Timeline

  1. Sep 10, 20268-K Exit or restructuring costs; Regulation FD disclosure; Other events43
  2. Aug 6, 20268-K Results of operations44
  3. May 14, 20268-K Shareholder vote45
  4. May 7, 20268-K Results of operations46
  5. Apr 14, 20268-K Entered a material agreement; Change to shareholders' rights; Bylaws or fiscal year changed47
  6. Feb 12, 20268-K Results of operations48
  7. Jan 7, 20268-K Results of operations; Exit or restructuring costs; Executive or director change49
  8. Nov 6, 20258-K Results of operations50
  9. Oct 9, 20258-K Executive or director change51
  10. Sep 12, 20258-K Other events52
  11. Jul 31, 20258-K Results of operations; Bylaws or fiscal year changed; Regulation FD disclosure53
  12. Jul 1, 20258-K Executive or director change54
  13. Nov 19, 2020New chief executive Brent Bellm becomes CEO18
  14. Jan 29, 2013Founded Commerce.com, Inc. is founded4

Calendar

Coming up

  1. Nov 5, 2026 · Before the openReports results for the quarter ending Sep/202655

When it reported results

  1. Aug 6, 2026Reported quarterly or annual results44
  2. May 7, 2026Reported quarterly or annual results46
  3. Feb 12, 2026Reported quarterly or annual results48
  4. Jan 7, 2026Reported quarterly or annual results49
  5. Nov 6, 2025Reported quarterly or annual results50
  6. Jul 31, 2025Reported quarterly or annual results53
  7. May 8, 2025Reported quarterly or annual results56
  8. Feb 20, 2025Reported quarterly or annual results57

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

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 five years, summarized. The full record is on SEC EDGAR.

Insider trades

97 open-market trades by officers, directors and large owners since October 2021: 7 buys and 90 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Aug 24, 2026Lentz DanielCFO & COOSale797$2.22$1.8KForm 4
Jul 1, 2026Lentz DanielCFO & COOSale1,544$2.96$4.6KForm 4
May 26, 2026Lentz DanielCFO & COOSale6,840$2.91$19.9KForm 4
Feb 17, 2026Siminoff Ellen FExecutive ChairBuy100,000$2.94$294.0KForm 4
Sep 12, 2025Klein Russell ScottChief Commercial OfficerSale98,080$4.59$450.2KForm 4
Jun 3, 2025BOHN LAWRENCE SDirectorSale1,023,792$5.01$5.1MForm 4
Jun 2, 2025BOHN LAWRENCE SDirectorSale176,208$5.01$882.8KForm 4
Mar 6, 2025Siminoff Ellen FExecutive ChairBuy177,158$6.64$1.2MForm 4
Feb 25, 2025Siminoff Ellen FExecutive ChairBuy19,603$6.49$127.2KForm 4
Feb 24, 2025Siminoff Ellen FExecutive ChairBuy3,239$6.28$20.3KForm 4
Aug 14, 2024Richards Jeffrey GordonDirectorSale53,718$5.46$293.3KForm 4
Aug 13, 2024Richards Jeffrey GordonDirectorSale76,571$5.61$429.6KForm 4
Aug 12, 2024Richards Jeffrey GordonDirectorSale74,263$5.50$408.4KForm 4
Aug 9, 2024Richards Jeffrey GordonDirectorSale83,264$5.54$461.3KForm 4
May 28, 2024Bellm BrentPresident Chief Exec OfficerSale31,907$8.35$266.4KForm 4
May 28, 2024Dhatt Brian SinghChief Technology OfficerSale5,787$8.35$48.3KForm 4
May 28, 2024Klein Russell ScottChief Commercial OfficerSale9,644$8.35$80.5KForm 4
Mar 4, 2024Klein Russell ScottChief Commercial OfficerSale3,198$7.63$24.4KForm 4
Mar 4, 2024Bellm BrentPresident Chief Exec OfficerSale8,078$7.63$61.6KForm 4
Mar 4, 2024Dhatt Brian SinghChief Technology OfficerSale1,919$7.63$14.6KForm 4

All 97 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Travis Hess54$490.4K$3.4M73
2025Daniel Lentz48$420.6K$2.0M73
2025Russell Klein$378.0K$1.2M73
2025Rob Walter$360.0K$1.0M73
2025Chuck Cassidy38$335.0K$942.0K73
2025Brian Dhatt$156.4K$801.2K73
2024Chief Executive Officer$254.8K$4.2M73
2024Chief Financial Officer$398.1K$1.7M73
2024Former Chief Technology Officer$411.5K$1.3M73
2024Former Chief Commercial Officer$411.5K$1.2M73
2024General Counsel$319.2K$663.4K73
2023Former Chief Commercial Officer$394.2K$2.5M73
2023Chief Financial Officer$355.9K$1.9M73
2023Former Chief Technology Officer$394.2K$1.6M73

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.

SEC filer profile

How Commerce.com, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARCommerce.com, Inc.2
  • CIK0001626450
  • Employer ID (EIN)46-270765617
  • Filer statusAccelerated filer not an emerging growth company; not a smaller reporting company; not a shell company17
  • Incorporated inDelaware17
  • Fiscal year endsDecember 312
  • Industry code (SIC)7372 Services-Prepackaged Software2
  • SEC reviewing officeOffice of Technology, Division of Corporation Finance2
  • Business address11920 Alterra Parkway, Dl 11,, Suite 100, 8Th Floor, Austin, TX 787582
  • Phone1-888-699-89112
  • Shares outstanding82,858,991 as of Aug 4, 202615
  • Public float$394.6M as of Jun 30, 202517
  • AuditorErnst and Young LLP, Austin, TX PCAOB ID 42; it also attests to the company’s internal control over financial reporting17
  • On EDGAR sinceDec 3, 20142
  • Filings710 in all: 4 (421), 8-K (67), 144 (49), 3 (31), 10-Q (19), SC 13G (16), SC 13G/A (13), 425 (9)2
    All 33 form types

    SCHEDULE 13G/A (8), 10-K (6), DEF 14A (6), DEFA14A (6), S-8 (6), CORRESP (5), UPLOAD (5), ARS (4), D (4), DRSLTR (4), SCHEDULE 13G (4), 4/A (3), D/A (3), DRS/A (3), 424B4 (2), 424B7 (2), 8-A12B (2), DRS (2), EFFECT (2), S-1 (2), S-1/A (2), CERT (1), S-3ASR (1), SCHEDULE 13D (1), SCHEDULE 13D/A (1)

  • Latest filingsAnnual report (10-K) Mar 2, 2026
    Quarterly report (10-Q) Aug 6, 2026
    Proxy statement (DEF 14A) Apr 1, 2026
    Latest 8-K (8-K) Sep 10, 2026

Securities registered for trading

ClassSymbolExchange
Series 1 common stock, $0.0001 par value per shareCMRCThe Nasdaq Global Market

From the cover page of the 10-K filed Mar 2, 2026 (Section 12(b) of the Exchange Act).17

Risk factors and legal proceedings

The risks Commerce.com, Inc. names in Item 1A of its 10-K filed Mar 2, 2026: 62 risks under these headings, as written.17

  • Risks related to the growth and profitability of our business.
  • We have a history of operating losses, and we may not be able to generate sufficient revenue to achieve profitability on our anticipated timeline or sustain it thereafter.
  • We have undertaken, and may in the future undertake, restructuring activities that could result in disruptions to our business or otherwise materially harm our results of operations or financial condition.
  • Our rebranding initiative involves costs and may not be favorably received.
  • Our success depends in part on our partner-centric strategy. Our business would be harmed if we fail to maintain or expand partner relationships.
  • Technological advances in AI may in the future disrupt the ecommerce and SaaS industry, which could significantly reduce the demand for our services or otherwise adversely impact our business or reputation if we are unable to develop AI and mitigate the use risks in this evolving environment.
  • Our ability to forecast our future results of operations is subject to many risks and uncertainties and our operating and financial results could differ materially from our expectations.
  • We store and process confidential information, including personal information of our customers and their shoppers. If we or our third-party providers fail to protect the security of this information and/or experience a data security incident, our reputation may be harmed and we may be exposed to material financial penalties and legal liability, which could materially adversely affect our business, results of operations, and financial condition.
  • We depend on third-party data hosting and transmission services. Increases in cost, interruptions in service, latency, or poor service from our third-party data center providers could impair the delivery of our platform. This could result in customer or shopper dissatisfaction, damage to our reputation, loss of customers, limited growth, and reduction in revenue.
  • If there are interruptions or performance problems associated with our technology or infrastructure, our existing customers may experience service outages, and our new customers may experience delays in using our platform.
  • If we fail to implement and maintain proper and effective internal controls over financial reporting, our ability to produce accurate financial statements on a timely basis could be impaired, which could cause investors to lose confidence in our reported financial information and have a negative effect on our stock price.
  • If our platform fails to perform properly, and if we fail to develop enhancements to resolve performance issues, we could lose customers, become subject to performance or warranty claims, or incur significant costs.
The other 50 risks
  • Our sales cycle with our customers can be long and unpredictable, and our sales efforts require considerable time and expense.
  • If we fail to offer high quality support, our business and reputation could suffer.
  • Failure to adequately protect our proprietary rights could impair our competitive position. We could incur substantial costs in protecting or defending our proprietary rights. We could lose valuable assets, experience reduced revenue, and incur costly litigation.
  • We have been, and may in the future be, subject to legal proceedings and litigation, including intellectual property disputes, which are costly and may subject us to significant liability and increased costs of doing business. Our business may suffer if it is alleged or determined that our technology infringes the intellectual property rights of others.
  • We may acquire or invest in companies, which may divert our management’s attention and result in additional dilution to our stockholders. We may be unable to integrate acquired businesses and technologies successfully or achieve the expected benefits of such acquisitions.
  • We rely on third-party proprietary and open source software for our platform. Our inability to obtain third-party licenses for such software, or obtain them on favorable terms, or any errors or failures caused by such software could adversely affect our business, results of operations and financial condition.
  • Our use of open source software could subject us to possible litigation or cause us to subject our platform to unwanted open source license conditions that could negatively impact our sales.
  • Failure to effectively develop and expand our lead generation, customer acquisition, and retention strategies could harm our ability to develop or maintain our customer base and achieve broader market acceptance of our platform. If we are not able to generate traffic to our website through digital marketing or retain our existing customers, our ability to grow our business may be impaired.
  • Payment transactions on our ecommerce platform subject us to regulatory requirements, additional fees, and other risks that could be costly and difficult to comply with or that could harm our business.
  • Our ability to use our net operating losses to offset future taxable income may be subject to certain limitations.
  • Risks related to our industry and the economy
  • Compliance with ever evolving federal, state, and global laws, regulations and standards relating to the handling of information about individuals, restrictions on cross-border data transfers, rules applicable to digital services, and data localization requirements involves significant expenditure and resources and any failure by us or our vendors to comply may limit the use and adoption of our services, expose us to significant liability, negative publicity, and/or erosion of our trust, which could materially adversely affect our business, results of operations, and financial condition.
  • We face intense competition, especially from well-established companies offering solutions and related applications. We may lack sufficient financial or other resources to maintain or improve our competitive position, which may harm our ability to add new customers, retain existing customers, and grow our business.
  • Our current operations are international in scope. We are subject to risks from geopolitical crises, such as the Russian invasion of Ukraine.
  • We have previously adjusted our pricing levels and may in the future need to reduce or change our pricing model to remain competitive.
  • Mobile devices are increasingly being used to conduct commerce, and if our platform does not operate as effectively when accessed through these devices, our customers and their shoppers may not be satisfied with our services, which could harm our business.
  • Activities of customers, their shoppers, and our partners could damage our brand, subject us to liability and harm our business and financial results.
  • We provide our ecommerce platform to businesses in highly-regulated industries, which subjects us to a number of challenges and risks.
  • We may be subject to additional obligations to collect and remit sales tax and other taxes. We may be subject to tax liability for past sales, which could harm our business.
  • Changes in tax laws or regulations that are applied adversely to us or our customers could increase the cost of our ecommerce platform and adversely impact our business.
  • Changes in U.S. trade policy and the impact of tariffs may have a material adverse effect on our business and financial results.
  • Risks related to owning our common stock
  • The market price of shares of our common stock has been and may continue to be volatile, which could cause the value of your investment to decline.
  • Our ability to timely raise capital in the future may be limited, or may be unavailable on acceptable terms, if at all. Our failure to raise capital when needed could harm our business, operating results and financial condition. Debt or equity issued to raise additional capital may reduce the value of our common stock.
  • We have no current plans to pay cash dividends on our common stock; as a result, you may not receive any return on investment unless you sell your common stock for a price greater than that which you paid for it.
  • If our operating and financial performance in any given period does not meet the financial outlook that we provide to the public or the expectations of investment analysts, the market price of our common stock may decline.
  • The requirements of being a public company, including compliance with the reporting requirements of the Exchange Act, the requirements of the Sarbanes-Oxley Act and the requirements of Nasdaq, may strain our resources, increase our costs and distract management, and we may be unable to comply with these requirements in a timely or cost-effective manner.
  • If securities or industry analysts do not publish research or reports about our business or publish negative reports, the market price of our common stock could decline.
  • You will be diluted by the future issuance of common stock, preferred stock or securities convertible into common or preferred stock, in connection with our incentive plans, acquisitions, capital raises or otherwise. Additionally, we currently have significant numbers of securities outstanding that may be exercisable for our common stock, which may result in significant dilution and downward pressure on our stock price.
  • General risk factors
  • We may be adversely affected by the effects of inflation.
  • If we fail to adapt and respond effectively to rapidly changing technology, evolving industry standards, and changing customer needs or preferences, our platform may become less competitive.
  • The estimates of market opportunity and forecasts of market growth included in this Annual Report on Form 10-K may prove to be inaccurate. Even if the market in which we compete achieves the forecasted growth, our business could fail to grow at similar rates, if at all.
  • If we fail to manage our growth effectively, we may be unable to execute our business plan, maintain high levels of service and customer satisfaction or adequately address competitive challenges.
  • We anticipate that our operations will continue to increase in complexity as we grow, which will create management challenges.
  • We depend on our senior management team and the loss of one or more key employees or an inability to attract and retain highly skilled employees could adversely affect our business.
  • Losing key members of our management or operations teams could hinder our ability to attract and retain the necessary talent for continued operations and growth.
  • If we are unable to maintain our corporate culture as we grow, we could lose the innovation, teamwork, passion and focus on execution that we believe contribute to our success, and our business may be harmed.
  • Unfavorable conditions in our industry or the global economy, or reductions in IT spending, could limit our ability to grow our business and negatively affect our results of operations.
  • Natural catastrophic events and man-made problems such as power disruptions, computer viruses, global pandemics, data security breaches and terrorism may disrupt our business.
  • Indemnity provisions in various agreements potentially expose us to substantial liability for intellectual property infringement, data protection, and other losses.
  • Our international operations may subject us to potential adverse tax consequences.
  • We are subject to governmental export and import controls that could impair our ability to compete in international markets and subject us to liability if we violate the controls.
  • We are exposed to fluctuations in currency exchange rates, which could negatively affect our operating results.
  • We are subject to anti-corruption, anti-bribery, anti-money laundering, and similar laws. Non-compliance with such laws can subject us to criminal and/or civil liability and harm our business.
  • Changes in subjective assumptions, estimates and judgments by management related to complex accounting matters or changes in accounting principles generally accepted in the United States, could significantly affect our financial condition and results of operations.
  • We may be unable to raise the funds necessary to repurchase the Convertible Notes for cash following a fundamental change, or to pay any cash amounts due upon conversion, and our future indebtedness may limit our ability to repurchase the Convertible Notes or pay cash upon their conversion.
  • Provisions in the indenture governing the Convertible Notes could delay or prevent an otherwise beneficial takeover of us.
  • The accounting method for the Convertible Notes could adversely affect our reported financial condition and results.
  • Our failure to generate sufficient cash flow from our business to service the interest rate of our 2028 Convertible Notes would adversely affect our business, financial condition and results of operations.
  • The terms of the indenture (the “2028 Convertible Notes Indenture”) that govern the 2028 Convertible Notes impose restrictions that may limit our current and future operating flexibility, particularly our ability to respond to changes in the economy or our industry or to take certain actions, which could harm our long-term interests.
  • Provisions in our organizational documents and certain rules imposed by regulatory authorities may delay or prevent our acquisition by a third party.
  • The provision of our amended and restated certificate of incorporation requiring exclusive venue in the Court of Chancery in the State of Delaware and the federal district courts of the United States for certain types of lawsuits may have the effect of discouraging lawsuits against our directors and officers.

Legal proceedings

From time to time, we may become involved in litigation related to claims arising from the ordinary course of our business. We believe that there are no claims or actions pending or threatened against us, the ultimate disposition of which would have a material adverse effect on us. The Company is not presently a party to any legal proceedings that, if determined adversely to us, would individually or taken together have a material adverse effect on our balance sheet, statement of operations or cash flows.

The opening of Item 3, Legal Proceedings.17

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