Filing Flows › Technology › Commerce.com (CMRC)
Commerce.com (CMRC) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 5, 2026 · Commerce.com (CMRC) Q3 2026 earnings results →
Q3 2026 Revenue down 2% year over year to $84.2M · 4¢ of every $1 of revenue lost · operating margin -2.1%
Commerce.com made $84.2M in Q3 2026 (-2% Y/Y): Subscription and Circulation $64.7M, Partner and Services $19.5M. Operating margin -2.1%, net loss $3.2M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 5, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $84.2M in Q3 2026, down 2% year over year and roughly flat from the previous quarter. Subscription and Circulation was the largest line at 77% of revenue. Partner and Services lost $1.8M year over year (down 9%), 102% of the total change.
Gross margin was 74.1%, down 4.3 points from Q3 2025. Operating costs exceeded revenue by $1.8M, an operating margin of -2.1%. Operating expenses fell 5% while revenue fell 2%. The fastest-growing cost line was Other operating costs (+171%). The quarter ended with a net loss of $3.2M, after a profit of $1.1M the previous quarter.
Operating cash flow was $9.4M (down 11% year over year). Non-cash charges added back $3.4M of depreciation and amortization and $4.3M of share-based compensation. Working capital and other items added $4.9M. After purchase of capitalized internal-use software, leasehold improvements, and property and equipment ($3.6M), free cash flow as the company reports it was $5.7M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 5, 2026 | $84.2M | -2% | -2.1% | −$3.2M | $9.4M |
| Q2 2026 | 10-Q | Aug 6, 2026 | $84.5M | +0.1% | 3.2% | $1.1M | $5.1M |
| Q1 2026 | 10-Q | May 7, 2026 | $86.8M | +5% | 6.6% | $3.7M | $18.4M |
| Q4 2025 | 10-K | Mar 2, 2026 | $89.5M | +3% | -7.4% | −$8.4M | $980K |
| Q3 2025 | 10-Q | Nov 6, 2025 | $86.0M | +3% | -0.5% | −$2.2M | $10.6M |
| Q2 2025 | 10-Q | Jul 31, 2025 | $84.4M | +3% | -8.0% | −$8.4M | $13.6M |
| Q1 2025 | 10-Q | May 8, 2025 | $82.4M | +2% | -2.9% | −$353K | $401K |
Charts
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Commerce.com
Commerce (Nasdaq: CMRC) empowers businesses to innovate, grow, and thrive by providing an open, AI-driven commerce ecosystem. As the parent company of BigCommerce , Feedonomics , and Makeswift , Commerce connects the tools and systems that power growth, enabling businesses to unlock the full potential of their data, deliver seamless and personalized experiences across every channel, and adapt swiftly to an ever-changing market. Trusted by leading businesses like Coldwater Creek, Cole Haan, Dell, Harvey Nichols, King Arthur Baking Co., Mizuno, Pacsun, Perry Ellis, Skechers, SportsShoes and Uplift Desk, Commerce delivers the storefront control, optimized data, and AI-ready tools businesses need to grow, serve diverse buyers, and operate with confidence in an increasingly intelligent, multi-surface world. For more information, visit www.commerce.com or follow us on X and LinkedIn .
In its own words, from its 8-K, filed Aug 6, 2026.
Commerce.com against its Services-Prepackaged Software peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -2% against the peers' median +14%. Operating margin: -2.1% against the peers' median 15.2%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| CMRC Commerce.com | Q3 2026 | $84.2M | -2% | -2.1% |
| MSFT Microsoft | Q1 FY27 | $92.3B | +19% | 49.8% |
| ORCL Oracle | Q1 FY27 | $19.3B | +30% | 34.8% |
| CRM Salesforce | Q2 FY27 | $11.3B | +11% | 20.5% |
| ADBE Adobe | Q3 FY26 | $6.8B | +13% | 34.8% |
| XYZ Block | Q3 2026 | $6.7B | +10% | 6.4% |
| INTU Intuit | Q4 FY26 | $4.4B | +14% | 10.9% |
| NOW ServiceNow | Q3 2026 | $4.1B | +20% | 9.4% |
| SHOP Shopify | Q3 2026 | $3.7B | +32% | 15.2% |
Source: Commerce.com 10-Q on SEC EDGAR · CIK 1626450 · Services-Prepackaged Software
Guidance and outlook
13F: who owns CMRC and who is buying
More on CMRC
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results