Q4 2025 Commerce.com Inc Earnings Call Transcript
Key Points
- Commerce.com Inc (CMRC) achieved a revenue of $342 million in 2025, marking a 3% year-over-year increase.
- The company reported a significant improvement in non-GAAP operating income, reaching $28 million, and demonstrated strong cash generation.
- Subscription ARR from B2B customers grew nearly 20% in 2025, with the highest retention rates across the product portfolio.
- Commerce.com Inc expanded partnerships with major tech companies like OpenAI, Microsoft, and Google, positioning itself as an AI-ready infrastructure layer.
- The company plans to increase R&D investment by nearly 30% in 2026, focusing on AI capabilities, expanding Feedonomics, and launching BigCommerce payments.
- Net revenue retention (NRR) was reported at 95.2% in Q4, indicating room for improvement in customer retention and expansion.
- The take rate has slightly decreased, partly due to the lower credit card transaction mix in B2B, affecting revenue growth.
- The guidance range for fiscal 2026 is wide, reflecting uncertainty in revenue growth and operational execution.
- Commerce.com Inc faces challenges in fully monetizing its B2B growth, as B2B customers typically yield lower revenue share than B2C.
- The company has not yet fully realized its growth potential, with a focus on shifting from foundation building to execution and monetization in 2026.
Ladies and gentlemen, thank you for standing by, and welcome to the Commerce fourth quarter and fiscal year 2025 earnings call. (Operator Instructions) Please be advised that today's conference is being recorded.
I would now like to turn the conference over to your first speaker today, Tyler Duncan, Senior Vice President, Finance, and Investor Relations. You may begin.
Good morning, and welcome to Commerce's fourth quarter and fiscal year 2025 earnings call. We will be discussing the results announced in our press release issued before today's market open. With me are Commerce's Chief Executive Officer, Travis Hess; Chief Financial Officer and Chief Operating Officer, Daniel Lentz.
Today's call will contain certain forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning financial and business trends, as well as our
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