{"success":true,"data":{"pressRelease":{"id":"25245","rtpr_id":"nGNX5Tmhw8","ticker":"CMRC","exchange":"NASDAQ","all_tickers":["CMRC"],"title":"Commerce Announces First Quarter 2026 Financial Results","author":"Globe Newswire","published_at":"2026-05-07T11:00:08.225Z","article_body":"First Quarter Total Revenue of $86.8 Million, an Increase of 5% Versus Prior\nYear. Total ARR of $359.8 Million, an Increase of 3% Versus Prior Year. GAAP\nNet Income of $3.7 Million Versus Net Loss in Prior Year Period. Operating\nCash Flow of $18.4 Million.\n\nAUSTIN, Texas, May 07, 2026 (GLOBE NEWSWIRE) -- Commerce.com, Inc. (Nasdaq:\nCMRC), a data-centric provider of an open, AI-driven commerce ecosystem that\nenables businesses to unlock data, power intelligent discovery and deliver\npersonalized experiences at scale, today announced financial results for its\nfirst quarter ended March 31, 2026.\n\n“We’re off to a strong start in 2026, delivering solid financial results\nwhile continuing to execute against the strategy we laid out at the beginning\nof the year,” said Travis Hess, CEO of Commerce. “This quarter reflects\nour shift from foundation-building to execution and monetization, with\nmeaningful progress across payments, AI-driven commerce and our core platform.\nWe’re operating at the center of a structural shift as commerce evolves from\na storefront-centric model to one that is increasingly AI-driven and\ndistributed across channels. The storefront remains critical, but it’s no\nlonger the sole driver of demand. We’ve been positioning the business for\nthis transition over the past 18 months, integrating our platform across\nproduct intelligence, experience orchestration and transactions. In this\nenvironment, data and orchestration become increasingly important, and we’re\nwell positioned to help merchants capture demand wherever it originates and\nconvert it efficiently. This business has never been better positioned. We\nhave the scale, the infrastructure, the financial profile and the product\nmomentum to deliver on the growth potential of this product suite. Our focus\nis execution.”\n\nFirst Quarter Financial Highlights:\n* Total revenue was $86.8 million, up 5% compared to the three months ended\nMarch 31, 2025.\n* Total annual revenue run-rate (“ARR”) as of March 31, 2026 was $359.8\nmillion, up 3% compared to March 31, 2025.\n* Subscription solutions revenue was $63.7 million, up 3% compared to the\nthree months ended March 31, 2025.\n* Gross Merchandise Volume (GMV) was $8.3 billion, up 14% compared to the\nthree months ended March 31, 2025.\n* Net Revenue Retention (NRR) was 95.4%, compared to 95.0% in the three months\nended March 31, 2025.\n* GAAP gross margin was 77%, compared to 79% in the three months ended March\n31, 2025.\n* Non-GAAP gross margin was 77%, compared to 80% in the three months ended\nMarch 31, 2025.\nOther Key Business Metrics\n* Revenue in the United States grew by 5% compared to the three months ended\nMarch 31, 2025.\n* Revenue in EMEA grew by 14% and revenue in APAC was largely unchanged\ncompared to the three months ended March 31, 2025.\nIncome (Loss) from Operations and Non-GAAP Operating Income\n* GAAP income from operations was $5.8 million, compared to a loss of ($2.4)\nmillion in the three months ended March 31, 2025.\n* Non-GAAP operating income was $12.4 million, compared to $7.6 million in the\nthree months ended March 31, 2025.\nGAAP Net Income (Loss), Non-GAAP Net Income and Earnings Per Share\n* GAAP net income was $3.7 million, compared to a net loss of ($0.4) million\nin the three months ended March 31, 2025.\n* Non-GAAP net income was $10.4 million or 12% of revenue, compared to $5.7\nmillion or 7% of revenue in the three months ended March 31, 2025.\n* GAAP basic net income per share was $0.05 based on 82.0 million weighted\naverage shares outstanding, compared to ($0.00) based on 78.8 million weighted\naverage shares outstanding in the three months ended March 31, 2025.\n* GAAP diluted net income per share was $0.05 based on 82.3 million weighted\naverage shares outstanding compared to ($0.00) based on 78.8 million weighted\naverage shares outstanding for the three months ended March 31, 2025.\n* Non-GAAP basic net income per share was $0.13 based on 82.0 million shares\nof weighted average shares outstanding, compared to $0.07 based on 78.8\nmillion shares of weighted average shares outstanding in the three months\nended March 31, 2025.\n* Non-GAAP diluted net income per share was $0.13 based on 82.3 million shares\nof dilutive shares, compared to $0.07 based on 80.5 million dilutive shares in\nthe three months ended March 31, 2025.\nAdjusted EBITDA\n* Adjusted EBITDA was $13.8 million, compared to $8.8 million in the three\nmonths ended March 31, 2025.\nCash\n* Cash, cash equivalents, restricted cash, and marketable securities totaled\n$157.0 million as of March 31, 2026.\n* For the three months ended March 31, 2026, net cash provided by operating\nactivities was $18.4 million, compared to $0.4 million provided by operating\nactivities for the same period in 2025. \n* Free cash flow of $14.1 million in the three months ended March 31, 2026,\ncompared to ($2.9) million in the three months ended March 31, 2025.\nBusiness Highlights:\n\nCorporate Highlights\n* Earlier this week, Commerce announced that BigCommerce Payments by PayPal is\nnow available to U.S. merchants. The solution integrates payment processing\ndirectly into the BigCommerce platform, enabling merchants to manage\ntransactions, balances and financial operations from a single interface while\nmaintaining a direct PayPal relationship.\n* In conjunction with Commerce Live in April 2026, the Company announced a\nbroad set of product innovations, spanning core platform advancements, new\ngrowth capabilities and emerging agentic commerce experiences. The\nannouncements highlight how Commerce is evolving its platform to help\nmerchants move faster, scale across channels and adapt to new forms of\ncommerce driven by AI.\n* Commerce announced the integration of PayPal’s Store Sync offering in the\nBigCommerce App Marketplace and Channel Manager, enabling BigCommerce\nmerchants to seamlessly connect their product catalogs, inventory, and order\nmanagement to AI surfaces. As a result, Commerce merchants benefit from their\nproducts becoming discoverable and purchasable across a growing network of\nAI-powered shopping surfaces, including Microsoft Copilot, Meta and\nPerplexity.\n* In April 2026, the Company announced that merchants are now syndicating\ncatalog data to key agentic discovery channels including OpenAI and Google\nGemini, using Feedonomics Agentic Catalog Exports (ACE), a new enterprise\nservice designed to help merchants make their product catalogs discoverable\nacross emerging AI-powered and agent-driven shopping environments. Dell is\namong the early enterprises leveraging Feedonomics to support its agentic\ncommerce initiatives.\n* In January 2026, Commerce announced a significant expansion of its\npartnership with Stripe, giving BigCommerce merchants worldwide access to\nStripe’s Optimized Checkout Suite, including a range of dynamic local and\nalternative payment methods such as Link, Buy Now, Pay Later (BNPL) and\nregional payment methods. The integration also offers merchants the\nopportunity to utilize Stripe’s advanced AI-driven fraud prevention tools.\n* In January 2026, Commerce announced its endorsement of Google’s new\nUniversal Commerce Protocol (UCP). The new, open-source standard creates a\ncommon language for agents and systems to work together across the entire\nshopping journey from discovery and buying to post-purchase experiences, so\nthey can interact seamlessly providing merchants with a frictionless way to\nreach customers across the entire AI ecosystem.\nCustomer Highlights\n* Nunu Trading International, a Barcelona-based wholesale distributor of\nperfumes, cosmetics and hair-care products serving trade customers across the\nEU and beyond, launched a new B2B ecommerce platform on Commerce's B2B Edition\nin partnership with agency Synapsis, leveraging multi-storefront architecture\nto serve five European markets across multiple languages with Stripe payments,\nKlaviyo for marketing automation, and a Dolibarr ERP integration for product\nand customer data synchronization.\n* Optibac Probiotics, a leading UK probiotic brand from Wren Laboratories,\nlaunched a new headless storefront built on Commerce's Catalyst framework in\npartnership with agency Ridgeway, migrating over 4,300 active subscriptions\nfrom their legacy platform and integrating OrderGroove for subscription\nmanagement, Access Worldpay for payments, Storyblok CMS, and NetSuite ERP to\nsupport their growing DTC business. The new platform provides improved\nflexibility, performance and scalability to support Optibac’s continued\ninternational growth.\n* Helix Linear, a precision motion components manufacturer serving industrial\nautomation, robotics, aerospace and defense, went live on a headless Catalyst\nstorefront with B2B Edition.\nQ2 and 2026 Financial Outlook:\n\nFor the second quarter of 2026, we currently expect:\n* Total revenue between $84.5 million and $85.5 million.\n* Non-GAAP operating income between $4 million and $5 million.\nFor the full year 2026, we currently expect:\n* Total revenue between $347.5 million and $369.5 million.\n* Non-GAAP operating income between $34 million and $53 million.\nOur second quarter and 2026 financial outlook is based on a number of\nassumptions that are subject to change and many of which are outside our\ncontrol. If actual results vary from these assumptions, our expectations may\nchange. There can be no assurance that we will achieve these results.\n\nWe do not provide guidance for GAAP income (loss) from operations, the most\ndirectly comparable GAAP measure to Non-GAAP operating income, and similarly\ncannot provide a reconciliation between our forecasted Non-GAAP operating\nincome and these comparable GAAP measures without unreasonable effort due to\nthe unavailability of reliable estimates for certain items. These items are\nnot within our control and may vary greatly between periods and could\nsignificantly impact future financial results.\n\nConference Call Information\n\nCommerce will host a conference call and webcast at 7:00 a.m. CT (8:00 a.m.\nET) on Thursday, May 7, 2026, to discuss its financial results and business\nhighlights. The conference call can be accessed by dialing (800) 715-9871 from\nthe United States and Canada or (646) 307-1963 internationally and requesting\nto join the “Commerce conference call.” The live webcast of the conference\ncall and other materials related to Commerce’s financial performance can be\naccessed from Commerce’s investor relations website at\nhttp://investors.commerce.com.\n\nFollowing the completion of the call through 11:59 p.m. ET on Thursday, May\n14, 2026, a telephone replay will be available by dialing (877) 344-7529 from\nthe United States, or (412) 317-0088 internationally with conference ID\n8069801. A webcast replay will also be available at\nhttp://investors.commerce.com for 12 months.\n\nAbout Commerce\n\nCommerce\n(https://www.globenewswire.com/Tracker?data=OzInUA3fRLf4Ui2SbucXNElpdUmFDH4PWxe2u1MmhELqPWxuCDxtUuU6y0kVxwEXonU0EvPjA6_2CXHu-nPMWg==)\n(Nasdaq: CMRC) empowers businesses to innovate, grow, and thrive by providing\nan open, AI-driven commerce ecosystem. As the parent company of BigCommerce\n(https://www.globenewswire.com/Tracker?data=f7uCkdjBEHwvt52hLiIbu9tZ8RPDLr1yOHvh5UVzVnMcHTd2pvEBbzoyTm-GmxK157dLc7cLX905QOYcOSnCw-S8GDSOyS9YyavIrM_bx3U=),\nFeedonomics\n(https://www.globenewswire.com/Tracker?data=2XTZ68pwTwnHoRAzFFEOF2KBvA6cILiSmmUyNerLgn_B11THX5E4yxVyAXn6mfA_D0-_0-Nvnl2oakzvSVQ4IQ==),\nand Makeswift\n(https://www.globenewswire.com/Tracker?data=5DpTqth1NHPGF4lPmhRfESNsav-DHIGiuqdJ0zml5KLGroPFMUq3IVWnv9XT83asCk0Z_rX8dOJZq997o6_3Sg==),\nCommerce connects the tools and systems that power growth, enabling businesses\nto unlock the full potential of their data, deliver seamless and personalized\nexperiences across every channel, and adapt swiftly to an ever-changing\nmarket. Trusted by leading businesses like Coldwater Creek, Cole Haan, Dell,\nHarvey Nichols, King Arthur Baking Co., Mizuno, Pacsun, Perry Ellis, Skechers,\nSportsShoes and Uplift Desk, Commerce delivers the storefront control,\noptimized data, and AI-ready tools businesses need to grow, serve diverse\nbuyers, and operate with confidence in an increasingly intelligent,\nmulti-surface world. For more information, visit www.commerce.com or follow us\non X\n(https://www.globenewswire.com/Tracker?data=7x9tInVS9Lu9-dVwn_XEqMlUdOcckjL4pfRhlEY-uqaCXHpzI22yj6Hv8Qf2MVDklCdl1wKqlZ3Y49bSM0ovbA==)\nand LinkedIn\n(https://www.globenewswire.com/Tracker?data=hEo2-kfZ-9ZQYw0vuQHhc5U1oFe6YouZgBZrrLrBX_V90tHsPcDICQbaQ44bSsqlhNMclBZ-UvKHv2CAUjEOzFy-emuhQM6NF_s6Gi5hkXgKz-xvdtL5Lpcv8GsUxMhk).\n\nForward-Looking Statements\n\nThis press release contains “forward-looking statements” within the\nmeaning of Section 27A of the Securities Act of 1933, as amended, and Section\n21E of the Securities Exchange Act of 1934, as amended. In some cases, you can\nidentify forward-looking statements by terms such as “anticipate,”\n“believe,” “estimate,” “expect,” “intend,” “outlook,”\n“may,” “might,” “plan,” “project,” “will,” “would,”\n“should,” “could,” “can,” “predict,” “potential,”\n“strategy, “target,” “explore,” “continue,” or the negative of\nthese terms, and similar expressions intended to identify forward-looking\nstatements. However, not all forward-looking statements contain these\nidentifying words. These statements may relate to our market size and growth\nstrategy, our estimated and projected costs, margins, revenue, expenditures\nand customer and financial growth rates, our Q2 and fiscal 2026 financial\noutlook, our plans and objectives for future operations, growth, initiatives\nor strategies. By their nature, these statements are subject to numerous\nuncertainties and risks, including factors beyond our control, that could\ncause actual results, performance or achievement to differ materially and\nadversely from those anticipated or implied in the forward-looking statements.\nThese assumptions, uncertainties and risks include that, among others, the\nanticipated benefits and opportunities related to our 2025 realignment may not\nbe realized or may take longer to realize than expected, our ability to pay\nthe interest and principal on our indebtedness depends upon cash flows\ngenerated by our operating performance, our business would be harmed by any\ndecline in new customers, renewals or upgrades, our limited operating history\nmakes it difficult to evaluate our prospects and future results of operations,\nwe operate in competitive markets, we may not be able to sustain our revenue\ngrowth rate in the future, our business would be harmed by any significant\ninterruptions, delays or outages in services from our platform or certain\nsocial media platforms, and a cybersecurity-related attack, significant data\nbreach or disruption of the information technology systems or networks could\nnegatively affect our business. Additional risks and uncertainties that could\ncause actual outcomes and results to differ materially from those contemplated\nby the forward-looking statements are included under the caption “Risk\nFactors” and elsewhere in our filings with the Securities and Exchange\nCommission (the “SEC”), including our Annual Report on Form 10-K for the\nyear ended December 31, 2025 and the future quarterly and current reports that\nwe file with the SEC. Forward-looking statements speak only as of the date the\nstatements are made and are based on information available to Commerce.com\n(https://www.globenewswire.com/Tracker?data=OzInUA3fRLf4Ui2SbucXNMcO2m9kLzE8xcqhpk1dgt7roLHwKHGsg3owpdSTq3qM1aIBXeDCMj6-EdlXpsUXnCaeWwcZv8NreBZV4XxXZdU=),\nInc. at the time those statements are made and/or management's good faith\nbelief as of that time with respect to future events. Commerce.com, Inc.\nassumes no obligation to update forward-looking statements to reflect events\nor circumstances after the date they were made, except as required by law.\n\nUse of Non-GAAP Financial Measures\n\nWe have provided in this press release certain financial information that has\nnot been prepared in accordance with generally accepted accounting principles\nin the United States (“GAAP”). Our management uses these Non-GAAP\nfinancial measures internally in analyzing our financial results and believes\nthat use of these Non-GAAP financial measures is useful to investors as an\nadditional tool to evaluate ongoing operating results and trends and in\ncomparing our financial results with other companies in our industry, many of\nwhich present similar Non-GAAP financial measures. Non-GAAP financial measures\nare not meant to be considered in isolation or as a substitute for comparable\nfinancial measures prepared in accordance with GAAP and should be read only in\nconjunction with our consolidated financial statements prepared in accordance\nwith GAAP. A reconciliation of our historical Non-GAAP financial measures to\nthe most directly comparable GAAP measures has been provided in the financial\nstatement tables included in this press release, and investors are encouraged\nto review these reconciliations.\n\nAnnual Revenue Run-Rate\n\nWe calculate annual revenue run-rate (“ARR”) at the end of each month as\nthe sum of: (1) contractual monthly recurring revenue at the end of the\nperiod, which includes platform subscription fees, invoiced growth\nadjustments, feed management subscription fees, recurring professional\nservices revenue, and other recurring revenue, multiplied by twelve to\nprospectively annualize recurring revenue, and (2) the sum of the trailing\ntwelve-month non-recurring and variable revenue, which includes one-time\npartner integrations, one-time fees, payments revenue share, and any other\nrevenue that is non-recurring and variable.\n\nGross Merchandise Volume (GMV)\n\nGross Merchandise Volume (“GMV”) represents the total dollar value of\ncompleted checkout transactions facilitated through the Commerce platform\nduring the reporting period, including shipping and taxes. GMV is reported on\na gross basis before deducting refunds or discounts. GMV is not a measure of\nrevenue.\n\nNet Revenue Retention (NRR)\n\nNet Revenue Retention (“NRR”) measures our ability to retain and expand\nrevenue from existing customers over time. NRR is calculated by dividing total\nbillings and allocated partner revenue from a cohort of customers during the\ntrailing twelve-month period by the total billings and allocated partner\nrevenue from the same customer cohort in the corresponding prior-year period.\nNRR reflects the impact of customer expansion and contraction and excludes\nrevenue from customers added after the prior twelve-month period.\n\nAdjusted EBITDA\n\nWe define Adjusted EBITDA as our GAAP net income (loss), excluding the impact\nof stock-based compensation expense and related payroll tax costs,\namortization of intangible assets, acquisition related costs, restructuring\ncharges, depreciation, gain on convertible note extinguishment, interest\nincome, interest expense, other expense, and our provision for income taxes.\nAcquisition related costs include contingent compensation arrangements entered\ninto in connection with acquisitions and achieved earnout related to an\nacquisition.\n\nRestructuring charges include severance benefits, right-of-use asset\nimpairments, lease termination gain, contract costs, accelerated depreciation,\nprofessional services costs, and other related costs.\n\nDepreciation includes depreciation expenses related to the Company's fixed\nassets.\n\nThe most directly comparable GAAP measure is net income (loss).\n\nNon-GAAP Operating Income\n\nWe define Non-GAAP Operating Income as our GAAP Income (Loss) from operations,\nexcluding the impact of stock-based compensation expense and related payroll\ntax costs, amortization of intangible assets, acquisition-related costs, and\nrestructuring charges. The most directly comparable GAAP measure is our income\n(loss) from operations.\n\nNon-GAAP Net Income\n\nWe define Non-GAAP Net Income as our GAAP net income (loss), excluding the\nimpact of stock-based compensation expense and related payroll tax costs,\namortization of intangible assets, acquisition-related costs, restructuring\ncharges, and gain on convertible notes extinguishment. The most directly\ncomparable GAAP measure is our net income (loss).\n\nNon-GAAP Basic and Dilutive Net Income per Share\n\nWe define Non-GAAP Basic Net Income (Loss) per Share as our Non-GAAP net\nincome, defined above, divided by our basic and diluted GAAP weighted average\nshares outstanding. The most directly comparable GAAP measure is our basic net\nincome (loss) per share.\n\nFree Cash Flow\n\nWe define Free Cash Flow as our GAAP cash flow provided by operating\nactivities less our GAAP purchases of capitalized internal-use software,\nleasehold improvements, and property and equipment (Capital Expenditures) and\ncash paid for website domain name. The most directly comparable GAAP measure\nis our cash flow provided by operating activities.\n\nBigCommerce®, the Commerce logo, and other brands are the trademarks or\nregistered trademarks of BigCommerce Pty. Ltd. Third-party trademarks and\nservice marks are the property of their respective owner.\n\n Media Relations Contact Investor Relations Contact \n Brad Hem Tyler Duncan \n PR@Commerce.com InvestorRelations@Commerce.com \n \n\n\n\n Commerce.com, Inc. \n \n Condensed Consolidated Balance Sheets (in thousands) \n \n March 31, December 31, \n 2026 2025 \n (unaudited) \n Assets \n Current assets \n Cash and cash equivalents $ 57,204 $ 44,258 \n Restricted cash 1,887 1,905 \n Marketable securities 97,936 96,838 \n Accounts receivable, net 49,555 49,967 \n Prepaid expenses and other assets, net 18,197 15,349 \n Deferred commissions 5,214 6,045 \n Total current assets 229,993 214,362 \n Property and equipment, net 16,216 13,983 \n Operating lease, right-of-use-assets 6,697 7,090 \n Prepaid expenses and other assets, net of current portion 6,812 6,677 \n Deferred commissions, net of current portion 2,856 3,466 \n Intangible assets, net 9,757 11,286 \n Goodwill 51,927 51,927 \n Total assets $ 324,258 $ 308,791 \n Liabilities and stockholders’ equity \n Current liabilities \n Accounts payable $ 8,540 $ 9,870 \n Accrued liabilities 4,504 4,787 \n Deferred revenue 68,841 59,576 \n Convertible notes 4,042 4,037 \n Operating lease liabilities 1,757 1,576 \n Other liabilities 28,753 28,340 \n Total current liabilities 116,437 108,186 \n Convertible notes, net of current portion - related party 152,754 153,012 \n Operating lease liabilities, net of current portion 6,575 6,892 \n Other liabilities, net of current portion 1,611 1,347 \n Total liabilities 277,377 269,437 \n Stockholders’ equity \n Common stock 7 7 \n Additional paid-in capital 684,189 680,153 \n Accumulated other comprehensive income (14 ) 224 \n Accumulated deficit (637,301 ) (641,030 ) \n Total stockholders’ equity 46,881 39,354 \n Total liabilities and stockholders’ equity $ 324,258 $ 308,791 \n \n\n\n\n Commerce.com, Inc. \n \n Condensed Consolidated Statements of Operations (in thousands, except per share amounts) (unaudited) \n \n For the three months ended March 31, \n 2026 2025 \n Revenue $ 86,842 $ 82,370 \n Cost of revenue ((1)) 20,191 16,984 \n Gross profit 66,651 65,386 \n Operating expenses: \n Sales and marketing ((1)) 26,196 30,366 \n Research and development ((1)) 18,033 19,206 \n General and administrative ((1)) 14,215 13,644 \n Amortization of intangible assets 1,529 2,335 \n Acquisition related costs 0 333 \n Restructuring charges 910 1,912 \n Total operating expenses 60,883 67,796 \n Income (loss) from operations 5,768 (2,410 ) \n Gain on convertible note extinguishment 0 3,931 \n Interest income 1,170 1,300 \n Interest expense (2,483 ) (2,543 ) \n Other expense (274 ) (107 ) \n Income before provision for income taxes 4,181 171 \n Provision for income taxes (452 ) (524 ) \n Net income (loss) $ 3,729 $ (353 ) \n Basic net income (loss) per share $ 0.05 $ (0.00 ) \n Diluted net income (loss) per share $ 0.05 $ (0.00 ) \n Shares used to compute basic net income (loss) per share 82,044 78,835 \n Shares used to compute diluted net income (loss) per share 82,319 78,835 \n \n\n((1)) Amounts include stock-based compensation expense and associated payroll\ntax costs, as follows:\n\n For the three months ended March 31, \n 2026 2025 \n Cost of revenue $ 534 $ 746 \n Sales and marketing 204 1,775 \n Research and development 1,502 3,042 \n General and administrative 1,994 (144 ) \n \n\n\n\n Commerce.com, Inc. \n \n Condensed Consolidated Statements of Cash Flows (in thousands) (unaudited) \n \n Three months ended March 31, \n 2026 2025 \n \n Cash flows from operating activities \n Net income (loss) $ 3,729 $ (353 ) \n Adjustments to reconcile net income (loss) to net cash provided by operating activities: \n Depreciation and amortization expense 2,886 4,281 \n Amortization of discount on convertible notes 174 187 \n Amortization of premium on convertible notes (427 ) (402 ) \n Accretion on marketable securities, net (463 ) 0 \n Stock-based compensation expense 4,090 5,209 \n Provision for expected credit losses 614 930 \n Gain on convertible notes extinguishment 0 (3,931 ) \n Changes in operating assets and liabilities: \n Accounts receivable (12 ) 3,020 \n Prepaid expenses and other assets (2,939 ) (5,084 ) \n Deferred commissions 1,441 1,935 \n Accounts payable (884 ) 678 \n Accrued and other liabilities 900 (8,137 ) \n Deferred revenue 9,265 2,068 \n Net cash provided by operating activities 18,374 401 \n Cash flows from investing activities: \n Cash paid for website domain name 0 (2,444 ) \n Purchase of capitalized internal-use software, leasehold improvements, and property and equipment (4,285 ) (825 ) \n Maturity of marketable securities 24,000 28,579 \n Purchase of marketable securities (25,107 ) (7,945 ) \n Net cash provided by (used in) investing activities (5,392 ) 17,365 \n Cash flows from financing activities: \n Proceeds from exercise of stock options 539 1,096 \n Taxes paid related to net share settlement of stock options (593 ) (1,225 ) \n Payment of convertible note issuance costs 0 (217 ) \n Repayment of convertible notes and financing obligation 0 (54,528 ) \n Net cash used in financing activities (54 ) (54,874 ) \n Net change in cash and cash equivalents and restricted cash 12,928 (37,108 ) \n Cash and cash equivalents and restricted cash, beginning of period 46,163 90,356 \n Cash and cash equivalents and restricted cash, end of period $ 59,091 $ 53,248 \n Supplemental cash flow information: \n Cash paid for interest $ 0 $ 60 \n Cash paid for interest - related party $ 0 $ 5,625 \n Noncash investing and financing activities: \n Capital additions, accrued but not paid $ 833 $ 205 \n Right-of-use asset obtained in exchange for new operating lease liability $ 0 $ 5,516 \n \n\n\n\n Commerce.com, Inc. \n \n Disaggregation of Revenue \n \n\nDisaggregated Revenue:\n\n Three months ended March 31, \n (in thousands) 2026 2025 \n Subscription solutions $ 63,675 $ 62,114 \n Partner and services 23,167 20,256 \n Revenue $ 86,842 $ 82,370 \n \n\nRevenue by Geography:\n\n Three months ended March 31, \n (in thousands) 2026 2025 \n Revenue: \n United States $ 65,755 $ 62,621 \n EMEA 11,344 9,965 \n APAC 5,946 5,925 \n Rest of World 3,797 3,859 \n Revenue $ 86,842 $ 82,370 \n \n\n\n\n Commerce.com, Inc \n \n Reconciliation of GAAP to Non-GAAP Results (in thousands, except per share amounts) (unaudited) \n \n\nReconciliation of loss from operations to Non-GAAP operating income:\n\n Three months ended March 31, \n 2026 2025 \n (in thousands) \n Revenue $ 86,842 $ 82,370 \n \n Income (loss) from operations $ 5,768 $ (2,410 ) \n Plus: \n Stock-based compensation expense and associated payroll tax costs 4,234 5,419 \n Amortization of intangible assets 1,529 2,335 \n Acquisition related costs 0 333 \n Restructuring charges 910 1,912 \n Non-GAAP operating income $ 12,441 $ 7,589 \n Non-GAAP operating income as a percentage of revenue 14.3 % 9.2 \n \n\nReconciliation of net income (loss) & basic net income (loss) per share to\nNon-GAAP net income & Non-GAAP basic and diluted net income per share:\n\n Three months ended March 31, \n 2026 2025 \n (in thousands) \n Revenue $ 86,842 $ 82,370 \n \n Net income (loss) $ 3,729 $ (353 ) \n Plus: \n Stock-based compensation expense and associated payroll tax costs 4,234 5,419 \n Amortization of intangible assets 1,529 2,335 \n Acquisition related costs 0 333 \n Restructuring charges 910 1,912 \n Gain on convertible notes extinguishment 0 (3,931 ) \n Non-GAAP net income $ 10,402 $ 5,715 \n Basic net income (loss) per share $ 0.05 $ (0.00 ) \n Non-GAAP basic net income per share $ 0.13 $ 0.07 \n Non-GAAP diluted net income per share $ 0.13 $ 0.07 \n Shares used to compute basic income (loss) per share and basic Non-GAAP net income per share 82,044 78,835 \n Shares used to compute diluted Non-GAAP net income per share 82,319 80,464 \n Non-GAAP net income as a percentage of revenue 12.0 % 6.9 % \n \n\nReconciliation of net income (loss) to adjusted EBITDA:\n\n Three months ended March 31, \n 2026 2025 \n (in thousands) \n Revenue $ 86,842 $ 82,370 \n \n Net income (loss) $ 3,729 $ (353 ) \n Plus: \n Stock-based compensation expense and associated payroll tax costs 4,234 5,419 \n Amortization of intangible assets 1,529 2,335 \n Acquisition related costs 0 333 \n Restructuring charges 910 1,912 \n Depreciation 1,357 1,244 \n Gain on convertible notes extinguishment 0 (3,931 ) \n Interest income (1,170 ) (1,300 ) \n Interest expense 2,483 2,543 \n Other expenses 274 107 \n Provision for income taxes 452 524 \n Adjusted EBITDA $ 13,798 $ 8,833 \n Adjusted EBITDA as a percentage of revenue 15.9 % 10.7 % \n \n\nReconciliation of Cost of revenue to Non-GAAP cost of revenue:\n\n Three months ended March 31, \n 2026 2025 \n (in thousands) \n Revenue $ 86,842 $ 82,370 \n \n Cost of revenue $ 20,191 $ 16,984 \n Less: \n Stock-based compensation expense and associated payroll tax costs 534 746 \n Non-GAAP cost of revenue $ 19,657 $ 16,238 \n As a percentage of revenue 22.6 % 19.7 % \n \n\nReconciliation of Sales and marketing expense to Non-GAAP sales and marketing\nexpense:\n\n Three months ended March 31, \n 2026 2025 \n (in thousands) \n Revenue $ 86,842 $ 82,370 \n \n Sales and marketing $ 26,196 $ 30,366 \n Less: \n Stock-based compensation expense and associated payroll tax costs 204 1,775 \n Non-GAAP sales and marketing $ 25,992 $ 28,591 \n As a percentage of revenue 29.9 % 34.7 % \n \n\nReconciliation of Research and development expense to Non-GAAP research and\ndevelopment expense:\n\n Three months ended March 31, \n 2026 2025 \n (in thousands) \n Revenue $ 86,842 $ 82,370 \n \n Research and development $ 18,033 $ 19,206 \n Less: \n Stock-based compensation expense and associated payroll tax costs 1,502 3,042 \n Non-GAAP research and development $ 16,531 $ 16,164 \n As a percentage of revenue 19.0 % 19.6 % \n \n\nReconciliation of General and administrative expense to Non-GAAP general and\nadministrative expense:\n\n Three months ended March 31, \n 2026 2025 \n (in thousands) \n Revenue $ 86,842 $ 82,370 \n \n General & administrative $ 14,215 $ 13,644 \n Less: \n Stock-based compensation expense and associated payroll tax costs 1,994 (144 ) \n Non-GAAP general & administrative $ 12,221 $ 13,788 \n As a percentage of revenue 14.1 % 16.7 % \n \n\nReconciliation of net cash provided by operating activities to free cash flow:\n\n Three months ended March 31, \n 2026 2025 \n (in thousands) \n Net cash provided by operating activities $ 18,374 $ 401 \n Cash paid for website domain name 0 (2,444 ) \n Purchase of capitalized internal-use software, leasehold improvements, and property and equipment (4,285 ) (825 ) \n Free cash flow $ 14,089 $ (2,868 ) \n \n\nAnnual revenue run-rate (ARR) as of:\n\n March 31, 2026 December 31, 2025 September 30, 2025 June 30, 2025 March 31, 2025 \n Total ARR (in thousands) $ 359,827 $ 359,136 $ 355,716 $ 354,608 $ 350,835 \n \n\nGross Merchandise Volume (GMV) for the three months ended:\n\n (in millions) Three months ended Sequential % Change \n March 31, 2026 $ 8,257 (6.7 )% \n December 31, 2025 8,852 12.0 \n September 30, 2025 7,901 2.6 \n June 30, 2025 7,700 6.3 \n March 31, 2025 7,242 (10.9 ) \n \n\nNet Revenue Retention (NRR) for the twelve months trailing as of:\n\n Trailing twelve months as of Sequential % Change \n March 31, 2026 95.4 % 0.2 % \n December 31, 2025 95.2 0.7 \n September 30, 2025 94.5 0.0 \n June 30, 2025 94.5 (0.5 ) \n March 31, 2025 95.0 (0.0 ) \n \n\nSubscription annual revenue run-rate as of:\n\n March 31, 2026 December 31, 2025 September 30, 2025 June 30, 2025 March 31, 2025 \n Subscription ARR (in thousands) $ 270,191 $ 272,411 $ 268,617 $ 267,951 $ 264,922 \n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/a953dd36-af2e-4b21-a5e8-45f93eb35143)\n\n\n\nGlobeNewswire, Inc. 2026","article_body_html":"","raw_payload":{"data":{"id":"nGNX5Tmhw8","title":"Commerce Announces First Quarter 2026 Financial Results","author":"Globe Newswire","ticker":"CMRC","created":"2026-05-07T11:00:08.225Z","tickers":["CMRC"],"exchange":"NASDAQ","article_body":"First Quarter Total Revenue of $86.8 Million, an Increase of 5% Versus Prior\nYear. Total ARR of $359.8 Million, an Increase of 3% Versus Prior Year. GAAP\nNet Income of $3.7 Million Versus Net Loss in Prior Year Period. Operating\nCash Flow of $18.4 Million.\n\nAUSTIN, Texas, May 07, 2026 (GLOBE NEWSWIRE) -- Commerce.com, Inc. (Nasdaq:\nCMRC), a data-centric provider of an open, AI-driven commerce ecosystem that\nenables businesses to unlock data, power intelligent discovery and deliver\npersonalized experiences at scale, today announced financial results for its\nfirst quarter ended March 31, 2026.\n\n“We’re off to a strong start in 2026, delivering solid financial results\nwhile continuing to execute against the strategy we laid out at the beginning\nof the year,” said Travis Hess, CEO of Commerce. “This quarter reflects\nour shift from foundation-building to execution and monetization, with\nmeaningful progress across payments, AI-driven commerce and our core platform.\nWe’re operating at the center of a structural shift as commerce evolves from\na storefront-centric model to one that is increasingly AI-driven and\ndistributed across channels. The storefront remains critical, but it’s no\nlonger the sole driver of demand. We’ve been positioning the business for\nthis transition over the past 18 months, integrating our platform across\nproduct intelligence, experience orchestration and transactions. In this\nenvironment, data and orchestration become increasingly important, and we’re\nwell positioned to help merchants capture demand wherever it originates and\nconvert it efficiently. This business has never been better positioned. We\nhave the scale, the infrastructure, the financial profile and the product\nmomentum to deliver on the growth potential of this product suite. Our focus\nis execution.”\n\nFirst Quarter Financial Highlights:\n* Total revenue was $86.8 million, up 5% compared to the three months ended\nMarch 31, 2025.\n* Total annual revenue run-rate (“ARR”) as of March 31, 2026 was $359.8\nmillion, up 3% compared to March 31, 2025.\n* Subscription solutions revenue was $63.7 million, up 3% compared to the\nthree months ended March 31, 2025.\n* Gross Merchandise Volume (GMV) was $8.3 billion, up 14% compared to the\nthree months ended March 31, 2025.\n* Net Revenue Retention (NRR) was 95.4%, compared to 95.0% in the three months\nended March 31, 2025.\n* GAAP gross margin was 77%, compared to 79% in the three months ended March\n31, 2025.\n* Non-GAAP gross margin was 77%, compared to 80% in the three months ended\nMarch 31, 2025.\nOther Key Business Metrics\n* Revenue in the United States grew by 5% compared to the three months ended\nMarch 31, 2025.\n* Revenue in EMEA grew by 14% and revenue in APAC was largely unchanged\ncompared to the three months ended March 31, 2025.\nIncome (Loss) from Operations and Non-GAAP Operating Income\n* GAAP income from operations was $5.8 million, compared to a loss of ($2.4)\nmillion in the three months ended March 31, 2025.\n* Non-GAAP operating income was $12.4 million, compared to $7.6 million in the\nthree months ended March 31, 2025.\nGAAP Net Income (Loss), Non-GAAP Net Income and Earnings Per Share\n* GAAP net income was $3.7 million, compared to a net loss of ($0.4) million\nin the three months ended March 31, 2025.\n* Non-GAAP net income was $10.4 million or 12% of revenue, compared to $5.7\nmillion or 7% of revenue in the three months ended March 31, 2025.\n* GAAP basic net income per share was $0.05 based on 82.0 million weighted\naverage shares outstanding, compared to ($0.00) based on 78.8 million weighted\naverage shares outstanding in the three months ended March 31, 2025.\n* GAAP diluted net income per share was $0.05 based on 82.3 million weighted\naverage shares outstanding compared to ($0.00) based on 78.8 million weighted\naverage shares outstanding for the three months ended March 31, 2025.\n* Non-GAAP basic net income per share was $0.13 based on 82.0 million shares\nof weighted average shares outstanding, compared to $0.07 based on 78.8\nmillion shares of weighted average shares outstanding in the three months\nended March 31, 2025.\n* Non-GAAP diluted net income per share was $0.13 based on 82.3 million shares\nof dilutive shares, compared to $0.07 based on 80.5 million dilutive shares in\nthe three months ended March 31, 2025.\nAdjusted EBITDA\n* Adjusted EBITDA was $13.8 million, compared to $8.8 million in the three\nmonths ended March 31, 2025.\nCash\n* Cash, cash equivalents, restricted cash, and marketable securities totaled\n$157.0 million as of March 31, 2026.\n* For the three months ended March 31, 2026, net cash provided by operating\nactivities was $18.4 million, compared to $0.4 million provided by operating\nactivities for the same period in 2025. \n* Free cash flow of $14.1 million in the three months ended March 31, 2026,\ncompared to ($2.9) million in the three months ended March 31, 2025.\nBusiness Highlights:\n\nCorporate Highlights\n* Earlier this week, Commerce announced that BigCommerce Payments by PayPal is\nnow available to U.S. merchants. The solution integrates payment processing\ndirectly into the BigCommerce platform, enabling merchants to manage\ntransactions, balances and financial operations from a single interface while\nmaintaining a direct PayPal relationship.\n* In conjunction with Commerce Live in April 2026, the Company announced a\nbroad set of product innovations, spanning core platform advancements, new\ngrowth capabilities and emerging agentic commerce experiences. The\nannouncements highlight how Commerce is evolving its platform to help\nmerchants move faster, scale across channels and adapt to new forms of\ncommerce driven by AI.\n* Commerce announced the integration of PayPal’s Store Sync offering in the\nBigCommerce App Marketplace and Channel Manager, enabling BigCommerce\nmerchants to seamlessly connect their product catalogs, inventory, and order\nmanagement to AI surfaces. As a result, Commerce merchants benefit from their\nproducts becoming discoverable and purchasable across a growing network of\nAI-powered shopping surfaces, including Microsoft Copilot, Meta and\nPerplexity.\n* In April 2026, the Company announced that merchants are now syndicating\ncatalog data to key agentic discovery channels including OpenAI and Google\nGemini, using Feedonomics Agentic Catalog Exports (ACE), a new enterprise\nservice designed to help merchants make their product catalogs discoverable\nacross emerging AI-powered and agent-driven shopping environments. Dell is\namong the early enterprises leveraging Feedonomics to support its agentic\ncommerce initiatives.\n* In January 2026, Commerce announced a significant expansion of its\npartnership with Stripe, giving BigCommerce merchants worldwide access to\nStripe’s Optimized Checkout Suite, including a range of dynamic local and\nalternative payment methods such as Link, Buy Now, Pay Later (BNPL) and\nregional payment methods. The integration also offers merchants the\nopportunity to utilize Stripe’s advanced AI-driven fraud prevention tools.\n* In January 2026, Commerce announced its endorsement of Google’s new\nUniversal Commerce Protocol (UCP). The new, open-source standard creates a\ncommon language for agents and systems to work together across the entire\nshopping journey from discovery and buying to post-purchase experiences, so\nthey can interact seamlessly providing merchants with a frictionless way to\nreach customers across the entire AI ecosystem.\nCustomer Highlights\n* Nunu Trading International, a Barcelona-based wholesale distributor of\nperfumes, cosmetics and hair-care products serving trade customers across the\nEU and beyond, launched a new B2B ecommerce platform on Commerce's B2B Edition\nin partnership with agency Synapsis, leveraging multi-storefront architecture\nto serve five European markets across multiple languages with Stripe payments,\nKlaviyo for marketing automation, and a Dolibarr ERP integration for product\nand customer data synchronization.\n* Optibac Probiotics, a leading UK probiotic brand from Wren Laboratories,\nlaunched a new headless storefront built on Commerce's Catalyst framework in\npartnership with agency Ridgeway, migrating over 4,300 active subscriptions\nfrom their legacy platform and integrating OrderGroove for subscription\nmanagement, Access Worldpay for payments, Storyblok CMS, and NetSuite ERP to\nsupport their growing DTC business. The new platform provides improved\nflexibility, performance and scalability to support Optibac’s continued\ninternational growth.\n* Helix Linear, a precision motion components manufacturer serving industrial\nautomation, robotics, aerospace and defense, went live on a headless Catalyst\nstorefront with B2B Edition.\nQ2 and 2026 Financial Outlook:\n\nFor the second quarter of 2026, we currently expect:\n* Total revenue between $84.5 million and $85.5 million.\n* Non-GAAP operating income between $4 million and $5 million.\nFor the full year 2026, we currently expect:\n* Total revenue between $347.5 million and $369.5 million.\n* Non-GAAP operating income between $34 million and $53 million.\nOur second quarter and 2026 financial outlook is based on a number of\nassumptions that are subject to change and many of which are outside our\ncontrol. If actual results vary from these assumptions, our expectations may\nchange. There can be no assurance that we will achieve these results.\n\nWe do not provide guidance for GAAP income (loss) from operations, the most\ndirectly comparable GAAP measure to Non-GAAP operating income, and similarly\ncannot provide a reconciliation between our forecasted Non-GAAP operating\nincome and these comparable GAAP measures without unreasonable effort due to\nthe unavailability of reliable estimates for certain items. These items are\nnot within our control and may vary greatly between periods and could\nsignificantly impact future financial results.\n\nConference Call Information\n\nCommerce will host a conference call and webcast at 7:00 a.m. CT (8:00 a.m.\nET) on Thursday, May 7, 2026, to discuss its financial results and business\nhighlights. The conference call can be accessed by dialing (800) 715-9871 from\nthe United States and Canada or (646) 307-1963 internationally and requesting\nto join the “Commerce conference call.” The live webcast of the conference\ncall and other materials related to Commerce’s financial performance can be\naccessed from Commerce’s investor relations website at\nhttp://investors.commerce.com.\n\nFollowing the completion of the call through 11:59 p.m. ET on Thursday, May\n14, 2026, a telephone replay will be available by dialing (877) 344-7529 from\nthe United States, or (412) 317-0088 internationally with conference ID\n8069801. A webcast replay will also be available at\nhttp://investors.commerce.com for 12 months.\n\nAbout Commerce\n\nCommerce\n(https://www.globenewswire.com/Tracker?data=OzInUA3fRLf4Ui2SbucXNElpdUmFDH4PWxe2u1MmhELqPWxuCDxtUuU6y0kVxwEXonU0EvPjA6_2CXHu-nPMWg==)\n(Nasdaq: CMRC) empowers businesses to innovate, grow, and thrive by providing\nan open, AI-driven commerce ecosystem. As the parent company of BigCommerce\n(https://www.globenewswire.com/Tracker?data=f7uCkdjBEHwvt52hLiIbu9tZ8RPDLr1yOHvh5UVzVnMcHTd2pvEBbzoyTm-GmxK157dLc7cLX905QOYcOSnCw-S8GDSOyS9YyavIrM_bx3U=),\nFeedonomics\n(https://www.globenewswire.com/Tracker?data=2XTZ68pwTwnHoRAzFFEOF2KBvA6cILiSmmUyNerLgn_B11THX5E4yxVyAXn6mfA_D0-_0-Nvnl2oakzvSVQ4IQ==),\nand Makeswift\n(https://www.globenewswire.com/Tracker?data=5DpTqth1NHPGF4lPmhRfESNsav-DHIGiuqdJ0zml5KLGroPFMUq3IVWnv9XT83asCk0Z_rX8dOJZq997o6_3Sg==),\nCommerce connects the tools and systems that power growth, enabling businesses\nto unlock the full potential of their data, deliver seamless and personalized\nexperiences across every channel, and adapt swiftly to an ever-changing\nmarket. Trusted by leading businesses like Coldwater Creek, Cole Haan, Dell,\nHarvey Nichols, King Arthur Baking Co., Mizuno, Pacsun, Perry Ellis, Skechers,\nSportsShoes and Uplift Desk, Commerce delivers the storefront control,\noptimized data, and AI-ready tools businesses need to grow, serve diverse\nbuyers, and operate with confidence in an increasingly intelligent,\nmulti-surface world. For more information, visit www.commerce.com or follow us\non X\n(https://www.globenewswire.com/Tracker?data=7x9tInVS9Lu9-dVwn_XEqMlUdOcckjL4pfRhlEY-uqaCXHpzI22yj6Hv8Qf2MVDklCdl1wKqlZ3Y49bSM0ovbA==)\nand LinkedIn\n(https://www.globenewswire.com/Tracker?data=hEo2-kfZ-9ZQYw0vuQHhc5U1oFe6YouZgBZrrLrBX_V90tHsPcDICQbaQ44bSsqlhNMclBZ-UvKHv2CAUjEOzFy-emuhQM6NF_s6Gi5hkXgKz-xvdtL5Lpcv8GsUxMhk).\n\nForward-Looking Statements\n\nThis press release contains “forward-looking statements” within the\nmeaning of Section 27A of the Securities Act of 1933, as amended, and Section\n21E of the Securities Exchange Act of 1934, as amended. In some cases, you can\nidentify forward-looking statements by terms such as “anticipate,”\n“believe,” “estimate,” “expect,” “intend,” “outlook,”\n“may,” “might,” “plan,” “project,” “will,” “would,”\n“should,” “could,” “can,” “predict,” “potential,”\n“strategy, “target,” “explore,” “continue,” or the negative of\nthese terms, and similar expressions intended to identify forward-looking\nstatements. However, not all forward-looking statements contain these\nidentifying words. These statements may relate to our market size and growth\nstrategy, our estimated and projected costs, margins, revenue, expenditures\nand customer and financial growth rates, our Q2 and fiscal 2026 financial\noutlook, our plans and objectives for future operations, growth, initiatives\nor strategies. By their nature, these statements are subject to numerous\nuncertainties and risks, including factors beyond our control, that could\ncause actual results, performance or achievement to differ materially and\nadversely from those anticipated or implied in the forward-looking statements.\nThese assumptions, uncertainties and risks include that, among others, the\nanticipated benefits and opportunities related to our 2025 realignment may not\nbe realized or may take longer to realize than expected, our ability to pay\nthe interest and principal on our indebtedness depends upon cash flows\ngenerated by our operating performance, our business would be harmed by any\ndecline in new customers, renewals or upgrades, our limited operating history\nmakes it difficult to evaluate our prospects and future results of operations,\nwe operate in competitive markets, we may not be able to sustain our revenue\ngrowth rate in the future, our business would be harmed by any significant\ninterruptions, delays or outages in services from our platform or certain\nsocial media platforms, and a cybersecurity-related attack, significant data\nbreach or disruption of the information technology systems or networks could\nnegatively affect our business. Additional risks and uncertainties that could\ncause actual outcomes and results to differ materially from those contemplated\nby the forward-looking statements are included under the caption “Risk\nFactors” and elsewhere in our filings with the Securities and Exchange\nCommission (the “SEC”), including our Annual Report on Form 10-K for the\nyear ended December 31, 2025 and the future quarterly and current reports that\nwe file with the SEC. Forward-looking statements speak only as of the date the\nstatements are made and are based on information available to Commerce.com\n(https://www.globenewswire.com/Tracker?data=OzInUA3fRLf4Ui2SbucXNMcO2m9kLzE8xcqhpk1dgt7roLHwKHGsg3owpdSTq3qM1aIBXeDCMj6-EdlXpsUXnCaeWwcZv8NreBZV4XxXZdU=),\nInc. at the time those statements are made and/or management's good faith\nbelief as of that time with respect to future events. Commerce.com, Inc.\nassumes no obligation to update forward-looking statements to reflect events\nor circumstances after the date they were made, except as required by law.\n\nUse of Non-GAAP Financial Measures\n\nWe have provided in this press release certain financial information that has\nnot been prepared in accordance with generally accepted accounting principles\nin the United States (“GAAP”). Our management uses these Non-GAAP\nfinancial measures internally in analyzing our financial results and believes\nthat use of these Non-GAAP financial measures is useful to investors as an\nadditional tool to evaluate ongoing operating results and trends and in\ncomparing our financial results with other companies in our industry, many of\nwhich present similar Non-GAAP financial measures. Non-GAAP financial measures\nare not meant to be considered in isolation or as a substitute for comparable\nfinancial measures prepared in accordance with GAAP and should be read only in\nconjunction with our consolidated financial statements prepared in accordance\nwith GAAP. A reconciliation of our historical Non-GAAP financial measures to\nthe most directly comparable GAAP measures has been provided in the financial\nstatement tables included in this press release, and investors are encouraged\nto review these reconciliations.\n\nAnnual Revenue Run-Rate\n\nWe calculate annual revenue run-rate (“ARR”) at the end of each month as\nthe sum of: (1) contractual monthly recurring revenue at the end of the\nperiod, which includes platform subscription fees, invoiced growth\nadjustments, feed management subscription fees, recurring professional\nservices revenue, and other recurring revenue, multiplied by twelve to\nprospectively annualize recurring revenue, and (2) the sum of the trailing\ntwelve-month non-recurring and variable revenue, which includes one-time\npartner integrations, one-time fees, payments revenue share, and any other\nrevenue that is non-recurring and variable.\n\nGross Merchandise Volume (GMV)\n\nGross Merchandise Volume (“GMV”) represents the total dollar value of\ncompleted checkout transactions facilitated through the Commerce platform\nduring the reporting period, including shipping and taxes. GMV is reported on\na gross basis before deducting refunds or discounts. GMV is not a measure of\nrevenue.\n\nNet Revenue Retention (NRR)\n\nNet Revenue Retention (“NRR”) measures our ability to retain and expand\nrevenue from existing customers over time. NRR is calculated by dividing total\nbillings and allocated partner revenue from a cohort of customers during the\ntrailing twelve-month period by the total billings and allocated partner\nrevenue from the same customer cohort in the corresponding prior-year period.\nNRR reflects the impact of customer expansion and contraction and excludes\nrevenue from customers added after the prior twelve-month period.\n\nAdjusted EBITDA\n\nWe define Adjusted EBITDA as our GAAP net income (loss), excluding the impact\nof stock-based compensation expense and related payroll tax costs,\namortization of intangible assets, acquisition related costs, restructuring\ncharges, depreciation, gain on convertible note extinguishment, interest\nincome, interest expense, other expense, and our provision for income taxes.\nAcquisition related costs include contingent compensation arrangements entered\ninto in connection with acquisitions and achieved earnout related to an\nacquisition.\n\nRestructuring charges include severance benefits, right-of-use asset\nimpairments, lease termination gain, contract costs, accelerated depreciation,\nprofessional services costs, and other related costs.\n\nDepreciation includes depreciation expenses related to the Company's fixed\nassets.\n\nThe most directly comparable GAAP measure is net income (loss).\n\nNon-GAAP Operating Income\n\nWe define Non-GAAP Operating Income as our GAAP Income (Loss) from operations,\nexcluding the impact of stock-based compensation expense and related payroll\ntax costs, amortization of intangible assets, acquisition-related costs, and\nrestructuring charges. The most directly comparable GAAP measure is our income\n(loss) from operations.\n\nNon-GAAP Net Income\n\nWe define Non-GAAP Net Income as our GAAP net income (loss), excluding the\nimpact of stock-based compensation expense and related payroll tax costs,\namortization of intangible assets, acquisition-related costs, restructuring\ncharges, and gain on convertible notes extinguishment. The most directly\ncomparable GAAP measure is our net income (loss).\n\nNon-GAAP Basic and Dilutive Net Income per Share\n\nWe define Non-GAAP Basic Net Income (Loss) per Share as our Non-GAAP net\nincome, defined above, divided by our basic and diluted GAAP weighted average\nshares outstanding. The most directly comparable GAAP measure is our basic net\nincome (loss) per share.\n\nFree Cash Flow\n\nWe define Free Cash Flow as our GAAP cash flow provided by operating\nactivities less our GAAP purchases of capitalized internal-use software,\nleasehold improvements, and property and equipment (Capital Expenditures) and\ncash paid for website domain name. The most directly comparable GAAP measure\nis our cash flow provided by operating activities.\n\nBigCommerce®, the Commerce logo, and other brands are the trademarks or\nregistered trademarks of BigCommerce Pty. Ltd. Third-party trademarks and\nservice marks are the property of their respective owner.\n\n Media Relations Contact Investor Relations Contact \n Brad Hem Tyler Duncan \n PR@Commerce.com InvestorRelations@Commerce.com \n \n\n\n\n Commerce.com, Inc. \n \n Condensed Consolidated Balance Sheets (in thousands) \n \n March 31, December 31, \n 2026 2025 \n (unaudited) \n Assets \n Current assets \n Cash and cash equivalents $ 57,204 $ 44,258 \n Restricted cash 1,887 1,905 \n Marketable securities 97,936 96,838 \n Accounts receivable, net 49,555 49,967 \n Prepaid expenses and other assets, net 18,197 15,349 \n Deferred commissions 5,214 6,045 \n Total current assets 229,993 214,362 \n Property and equipment, net 16,216 13,983 \n Operating lease, right-of-use-assets 6,697 7,090 \n Prepaid expenses and other assets, net of current portion 6,812 6,677 \n Deferred commissions, net of current portion 2,856 3,466 \n Intangible assets, net 9,757 11,286 \n Goodwill 51,927 51,927 \n Total assets $ 324,258 $ 308,791 \n Liabilities and stockholders’ equity \n Current liabilities \n Accounts payable $ 8,540 $ 9,870 \n Accrued liabilities 4,504 4,787 \n Deferred revenue 68,841 59,576 \n Convertible notes 4,042 4,037 \n Operating lease liabilities 1,757 1,576 \n Other liabilities 28,753 28,340 \n Total current liabilities 116,437 108,186 \n Convertible notes, net of current portion - related party 152,754 153,012 \n Operating lease liabilities, net of current portion 6,575 6,892 \n Other liabilities, net of current portion 1,611 1,347 \n Total liabilities 277,377 269,437 \n Stockholders’ equity \n Common stock 7 7 \n Additional paid-in capital 684,189 680,153 \n Accumulated other comprehensive income (14 ) 224 \n Accumulated deficit (637,301 ) (641,030 ) \n Total stockholders’ equity 46,881 39,354 \n Total liabilities and stockholders’ equity $ 324,258 $ 308,791 \n \n\n\n\n Commerce.com, Inc. \n \n Condensed Consolidated Statements of Operations (in thousands, except per share amounts) (unaudited) \n \n For the three months ended March 31, \n 2026 2025 \n Revenue $ 86,842 $ 82,370 \n Cost of revenue ((1)) 20,191 16,984 \n Gross profit 66,651 65,386 \n Operating expenses: \n Sales and marketing ((1)) 26,196 30,366 \n Research and development ((1)) 18,033 19,206 \n General and administrative ((1)) 14,215 13,644 \n Amortization of intangible assets 1,529 2,335 \n Acquisition related costs 0 333 \n Restructuring charges 910 1,912 \n Total operating expenses 60,883 67,796 \n Income (loss) from operations 5,768 (2,410 ) \n Gain on convertible note extinguishment 0 3,931 \n Interest income 1,170 1,300 \n Interest expense (2,483 ) (2,543 ) \n Other expense (274 ) (107 ) \n Income before provision for income taxes 4,181 171 \n Provision for income taxes (452 ) (524 ) \n Net income (loss) $ 3,729 $ (353 ) \n Basic net income (loss) per share $ 0.05 $ (0.00 ) \n Diluted net income (loss) per share $ 0.05 $ (0.00 ) \n Shares used to compute basic net income (loss) per share 82,044 78,835 \n Shares used to compute diluted net income (loss) per share 82,319 78,835 \n \n\n((1)) Amounts include stock-based compensation expense and associated payroll\ntax costs, as follows:\n\n For the three months ended March 31, \n 2026 2025 \n Cost of revenue $ 534 $ 746 \n Sales and marketing 204 1,775 \n Research and development 1,502 3,042 \n General and administrative 1,994 (144 ) \n \n\n\n\n Commerce.com, Inc. \n \n Condensed Consolidated Statements of Cash Flows (in thousands) (unaudited) \n \n Three months ended March 31, \n 2026 2025 \n \n Cash flows from operating activities \n Net income (loss) $ 3,729 $ (353 ) \n Adjustments to reconcile net income (loss) to net cash provided by operating activities: \n Depreciation and amortization expense 2,886 4,281 \n Amortization of discount on convertible notes 174 187 \n Amortization of premium on convertible notes (427 ) (402 ) \n Accretion on marketable securities, net (463 ) 0 \n Stock-based compensation expense 4,090 5,209 \n Provision for expected credit losses 614 930 \n Gain on convertible notes extinguishment 0 (3,931 ) \n Changes in operating assets and liabilities: \n Accounts receivable (12 ) 3,020 \n Prepaid expenses and other assets (2,939 ) (5,084 ) \n Deferred commissions 1,441 1,935 \n Accounts payable (884 ) 678 \n Accrued and other liabilities 900 (8,137 ) \n Deferred revenue 9,265 2,068 \n Net cash provided by operating activities 18,374 401 \n Cash flows from investing activities: \n Cash paid for website domain name 0 (2,444 ) \n Purchase of capitalized internal-use software, leasehold improvements, and property and equipment (4,285 ) (825 ) \n Maturity of marketable securities 24,000 28,579 \n Purchase of marketable securities (25,107 ) (7,945 ) \n Net cash provided by (used in) investing activities (5,392 ) 17,365 \n Cash flows from financing activities: \n Proceeds from exercise of stock options 539 1,096 \n Taxes paid related to net share settlement of stock options (593 ) (1,225 ) \n Payment of convertible note issuance costs 0 (217 ) \n Repayment of convertible notes and financing obligation 0 (54,528 ) \n Net cash used in financing activities (54 ) (54,874 ) \n Net change in cash and cash equivalents and restricted cash 12,928 (37,108 ) \n Cash and cash equivalents and restricted cash, beginning of period 46,163 90,356 \n Cash and cash equivalents and restricted cash, end of period $ 59,091 $ 53,248 \n Supplemental cash flow information: \n Cash paid for interest $ 0 $ 60 \n Cash paid for interest - related party $ 0 $ 5,625 \n Noncash investing and financing activities: \n Capital additions, accrued but not paid $ 833 $ 205 \n Right-of-use asset obtained in exchange for new operating lease liability $ 0 $ 5,516 \n \n\n\n\n Commerce.com, Inc. \n \n Disaggregation of Revenue \n \n\nDisaggregated Revenue:\n\n Three months ended March 31, \n (in thousands) 2026 2025 \n Subscription solutions $ 63,675 $ 62,114 \n Partner and services 23,167 20,256 \n Revenue $ 86,842 $ 82,370 \n \n\nRevenue by Geography:\n\n Three months ended March 31, \n (in thousands) 2026 2025 \n Revenue: \n United States $ 65,755 $ 62,621 \n EMEA 11,344 9,965 \n APAC 5,946 5,925 \n Rest of World 3,797 3,859 \n Revenue $ 86,842 $ 82,370 \n \n\n\n\n Commerce.com, Inc \n \n Reconciliation of GAAP to Non-GAAP Results (in thousands, except per share amounts) (unaudited) \n \n\nReconciliation of loss from operations to Non-GAAP operating income:\n\n Three months ended March 31, \n 2026 2025 \n (in thousands) \n Revenue $ 86,842 $ 82,370 \n \n Income (loss) from operations $ 5,768 $ (2,410 ) \n Plus: \n Stock-based compensation expense and associated payroll tax costs 4,234 5,419 \n Amortization of intangible assets 1,529 2,335 \n Acquisition related costs 0 333 \n Restructuring charges 910 1,912 \n Non-GAAP operating income $ 12,441 $ 7,589 \n Non-GAAP operating income as a percentage of revenue 14.3 % 9.2 \n \n\nReconciliation of net income (loss) & basic net income (loss) per share to\nNon-GAAP net income & Non-GAAP basic and diluted net income per share:\n\n Three months ended March 31, \n 2026 2025 \n (in thousands) \n Revenue $ 86,842 $ 82,370 \n \n Net income (loss) $ 3,729 $ (353 ) \n Plus: \n Stock-based compensation expense and associated payroll tax costs 4,234 5,419 \n Amortization of intangible assets 1,529 2,335 \n Acquisition related costs 0 333 \n Restructuring charges 910 1,912 \n Gain on convertible notes extinguishment 0 (3,931 ) \n Non-GAAP net income $ 10,402 $ 5,715 \n Basic net income (loss) per share $ 0.05 $ (0.00 ) \n Non-GAAP basic net income per share $ 0.13 $ 0.07 \n Non-GAAP diluted net income per share $ 0.13 $ 0.07 \n Shares used to compute basic income (loss) per share and basic Non-GAAP net income per share 82,044 78,835 \n Shares used to compute diluted Non-GAAP net income per share 82,319 80,464 \n Non-GAAP net income as a percentage of revenue 12.0 % 6.9 % \n \n\nReconciliation of net income (loss) to adjusted EBITDA:\n\n Three months ended March 31, \n 2026 2025 \n (in thousands) \n Revenue $ 86,842 $ 82,370 \n \n Net income (loss) $ 3,729 $ (353 ) \n Plus: \n Stock-based compensation expense and associated payroll tax costs 4,234 5,419 \n Amortization of intangible assets 1,529 2,335 \n Acquisition related costs 0 333 \n Restructuring charges 910 1,912 \n Depreciation 1,357 1,244 \n Gain on convertible notes extinguishment 0 (3,931 ) \n Interest income (1,170 ) (1,300 ) \n Interest expense 2,483 2,543 \n Other expenses 274 107 \n Provision for income taxes 452 524 \n Adjusted EBITDA $ 13,798 $ 8,833 \n Adjusted EBITDA as a percentage of revenue 15.9 % 10.7 % \n \n\nReconciliation of Cost of revenue to Non-GAAP cost of revenue:\n\n Three months ended March 31, \n 2026 2025 \n (in thousands) \n Revenue $ 86,842 $ 82,370 \n \n Cost of revenue $ 20,191 $ 16,984 \n Less: \n Stock-based compensation expense and associated payroll tax costs 534 746 \n Non-GAAP cost of revenue $ 19,657 $ 16,238 \n As a percentage of revenue 22.6 % 19.7 % \n \n\nReconciliation of Sales and marketing expense to Non-GAAP sales and marketing\nexpense:\n\n Three months ended March 31, \n 2026 2025 \n (in thousands) \n Revenue $ 86,842 $ 82,370 \n \n Sales and marketing $ 26,196 $ 30,366 \n Less: \n Stock-based compensation expense and associated payroll tax costs 204 1,775 \n Non-GAAP sales and marketing $ 25,992 $ 28,591 \n As a percentage of revenue 29.9 % 34.7 % \n \n\nReconciliation of Research and development expense to Non-GAAP research and\ndevelopment expense:\n\n Three months ended March 31, \n 2026 2025 \n (in thousands) \n Revenue $ 86,842 $ 82,370 \n \n Research and development $ 18,033 $ 19,206 \n Less: \n Stock-based compensation expense and associated payroll tax costs 1,502 3,042 \n Non-GAAP research and development $ 16,531 $ 16,164 \n As a percentage of revenue 19.0 % 19.6 % \n \n\nReconciliation of General and administrative expense to Non-GAAP general and\nadministrative expense:\n\n Three months ended March 31, \n 2026 2025 \n (in thousands) \n Revenue $ 86,842 $ 82,370 \n \n General & administrative $ 14,215 $ 13,644 \n Less: \n Stock-based compensation expense and associated payroll tax costs 1,994 (144 ) \n Non-GAAP general & administrative $ 12,221 $ 13,788 \n As a percentage of revenue 14.1 % 16.7 % \n \n\nReconciliation of net cash provided by operating activities to free cash flow:\n\n Three months ended March 31, \n 2026 2025 \n (in thousands) \n Net cash provided by operating activities $ 18,374 $ 401 \n Cash paid for website domain name 0 (2,444 ) \n Purchase of capitalized internal-use software, leasehold improvements, and property and equipment (4,285 ) (825 ) \n Free cash flow $ 14,089 $ (2,868 ) \n \n\nAnnual revenue run-rate (ARR) as of:\n\n March 31, 2026 December 31, 2025 September 30, 2025 June 30, 2025 March 31, 2025 \n Total ARR (in thousands) $ 359,827 $ 359,136 $ 355,716 $ 354,608 $ 350,835 \n \n\nGross Merchandise Volume (GMV) for the three months ended:\n\n (in millions) Three months ended Sequential % Change \n March 31, 2026 $ 8,257 (6.7 )% \n December 31, 2025 8,852 12.0 \n September 30, 2025 7,901 2.6 \n June 30, 2025 7,700 6.3 \n March 31, 2025 7,242 (10.9 ) \n \n\nNet Revenue Retention (NRR) for the twelve months trailing as of:\n\n Trailing twelve months as of Sequential % Change \n March 31, 2026 95.4 % 0.2 % \n December 31, 2025 95.2 0.7 \n September 30, 2025 94.5 0.0 \n June 30, 2025 94.5 (0.5 ) \n March 31, 2025 95.0 (0.0 ) \n \n\nSubscription annual revenue run-rate as of:\n\n March 31, 2026 December 31, 2025 September 30, 2025 June 30, 2025 March 31, 2025 \n Subscription ARR (in thousands) $ 270,191 $ 272,411 $ 268,617 $ 267,951 $ 264,922 \n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/a953dd36-af2e-4b21-a5e8-45f93eb35143)\n\n\n\nGlobeNewswire, Inc. 2026"},"type":"article","timestamp":"2026-05-07T11:00:08.320203497Z","server_sent_at_ms":1778151608320},"received_at":"2026-05-07T11:00:08.462Z","source_url":"https://www.globenewswire.com/news-release/2026/05/07/3289810/0/en/commerce-announces-first-quarter-2026-financial-results.html"},"analysis":{"id":"19765","press_release_id":"25245","analysis_json":{"industry":{"label":"Software","sector":"Information Technology"},"redFlags":[],"eventType":"earnings","narrative":"Commerce reported Q1 revenue of $86.8 million, up 5% year-over-year, with total ARR reaching $359.8 million, up 3%. The company swung to a GAAP net income of $3.7 million compared to a net loss in the prior year period, driven by GMV growth of 14% to $8.3 billion and solid operating cash flow of $18.4 million.\n\nThe company generated $14.1 million in free cash flow and ended the quarter with $157.0 million in cash and equivalents. Key business highlights included the launch of BigCommerce Payments by PayPal and new integrations with Stripe and AI discovery platforms like OpenAI and Google Gemini.\n\nFor the full year 2026, Commerce expects revenue between $347.5 million and $369.5 million and Non-GAAP operating income between $34 million and $53 million.","sentiment":"bullish","agentHooks":{"shouldPost":true,"suggestedAngle":"Profitability flip to GAAP net income with strong free cash flow and 14% GMV growth."},"keyFigures":{"eps":0.05,"revenue":86800000,"guidance":"Q2 revenue $84.5M-$85.5M; FY26 revenue $347.5M-$369.5M; FY26 Non-GAAP operating income $34M-$53M","revenueYoy":"5%","customDimensions":{"arr":359800000,"fcf":14100000,"gmv":8257000000,"nrr":"95.4%","arr_yoy":"3%","gmv_yoy":"14%","adjusted_ebitda":13800000,"operating_income":5800000}},"quotedText":"We’re off to a strong start in 2026, delivering solid financial results while continuing to execute against the strategy we laid out at the beginning of the year","namedEntities":{"people":[{"name":"Travis Hess","role":"CEO"}],"products":["BigCommerce Payments by PayPal","Store Sync","Feedonomics Agentic Catalog Exports (ACE)","Optimized Checkout Suite","Universal Commerce Protocol (UCP)","B2B Edition","Catalyst"],"companies":[{"name":"Commerce.com, Inc.","ticker":"CMRC"},{"name":"BigCommerce","relationship":"subsidiary"},{"name":"Feedonomics","relationship":"subsidiary"},{"name":"Makeswift","relationship":"subsidiary"},{"name":"PayPal","relationship":"partner"},{"name":"Stripe","relationship":"partner"},{"name":"Dell","relationship":"customer"},{"name":"Nunu Trading International","relationship":"customer"},{"name":"Optibac Probiotics","relationship":"customer"},{"name":"Helix Linear","relationship":"customer"},{"name":"Microsoft","relationship":"partner"},{"name":"Meta","relationship":"partner"},{"name":"Perplexity","relationship":"partner"},{"name":"OpenAI","relationship":"partner"},{"name":"Google","relationship":"partner"}],"dollarAmounts":[{"amount":"$86.8 million","context":"Q1 2026 total revenue"},{"amount":"$359.8 million","context":"Q1 2026 Total ARR"},{"amount":"$3.7 million","context":"Q1 2026 GAAP Net Income"},{"amount":"$18.4 million","context":"Q1 2026 Operating Cash Flow"},{"amount":"$8.3 billion","context":"Q1 2026 GMV"},{"amount":"$157.0 million","context":"Cash and equivalents as of March 31, 2026"},{"amount":"$14.1 million","context":"Q1 2026 Free Cash Flow"}]},"materialImpact":{"score":4,"reasoning":"Company reported Q1 revenue of $86.8M, up 5% YoY, and swung from a net loss to GAAP net income of $3.7M. Operating cash flow of $18.4M and positive free cash flow of $14.1M indicate strong operational efficiency and a shift to profitability."},"tickerRelevance":{"others":[],"primary":"CMRC"},"globalImportance":35,"audienceRelevance":40,"eventTypeSecondary":["guidance_update"],"importanceComponents":{"tickerTier":"mid-cap","eventGravity":"earnings-profitability-turn","sectorWeight":"Software","householdBrandBoost":0}},"event_type":"earnings","event_type_secondary":["guidance_update"],"sentiment":"bullish","material_impact_score":4,"narrative":"Commerce reported Q1 revenue of $86.8 million, up 5% year-over-year, with total ARR reaching $359.8 million, up 3%. The company swung to a GAAP net income of $3.7 million compared to a net loss in the prior year period, driven by GMV growth of 14% to $8.3 billion and solid operating cash flow of $18.4 million.\n\nThe company generated $14.1 million in free cash flow and ended the quarter with $157.0 million in cash and equivalents. Key business highlights included the launch of BigCommerce Payments by PayPal and new integrations with Stripe and AI discovery platforms like OpenAI and Google Gemini.\n\nFor the full year 2026, Commerce expects revenue between $347.5 million and $369.5 million and Non-GAAP operating income between $34 million and $53 million.","key_figures":{"eps":0.05,"revenue":86800000,"guidance":"Q2 revenue $84.5M-$85.5M; FY26 revenue $347.5M-$369.5M; FY26 Non-GAAP operating income $34M-$53M","revenueYoy":"5%","customDimensions":{"arr":359800000,"fcf":14100000,"gmv":8257000000,"nrr":"95.4%","arr_yoy":"3%","gmv_yoy":"14%","adjusted_ebitda":13800000,"operating_income":5800000}},"named_entities":{"people":[{"name":"Travis Hess","role":"CEO"}],"products":["BigCommerce Payments by PayPal","Store Sync","Feedonomics Agentic Catalog Exports (ACE)","Optimized Checkout Suite","Universal Commerce Protocol (UCP)","B2B Edition","Catalyst"],"companies":[{"name":"Commerce.com, Inc.","ticker":"CMRC"},{"name":"BigCommerce","relationship":"subsidiary"},{"name":"Feedonomics","relationship":"subsidiary"},{"name":"Makeswift","relationship":"subsidiary"},{"name":"PayPal","relationship":"partner"},{"name":"Stripe","relationship":"partner"},{"name":"Dell","relationship":"customer"},{"name":"Nunu Trading International","relationship":"customer"},{"name":"Optibac Probiotics","relationship":"customer"},{"name":"Helix Linear","relationship":"customer"},{"name":"Microsoft","relationship":"partner"},{"name":"Meta","relationship":"partner"},{"name":"Perplexity","relationship":"partner"},{"name":"OpenAI","relationship":"partner"},{"name":"Google","relationship":"partner"}],"dollarAmounts":[{"amount":"$86.8 million","context":"Q1 2026 total revenue"},{"amount":"$359.8 million","context":"Q1 2026 Total ARR"},{"amount":"$3.7 million","context":"Q1 2026 GAAP Net Income"},{"amount":"$18.4 million","context":"Q1 2026 Operating Cash Flow"},{"amount":"$8.3 billion","context":"Q1 2026 GMV"},{"amount":"$157.0 million","context":"Cash and equivalents as of March 31, 2026"},{"amount":"$14.1 million","context":"Q1 2026 Free Cash Flow"}]},"model_name":"glm-4.7","prompt_hash":"sha256:f66160e0fe5301b2","schema_hash":"sha256:12363694422af5d9","created_at":"2026-05-07T20:37:31.568Z","global_importance":35,"audience_relevance":40,"importance_components":{"tickerTier":"mid-cap","eventGravity":"earnings-profitability-turn","sectorWeight":"Software","householdBrandBoost":0}},"durationMs":null,"modelName":"glm-4.7"}}