Filing Flows › Commerce.com (CMRC) › Q2 2026 › vs Q2 2025
Commerce.com (CMRC) Q2 2026 vs Q2 2025 (year over year)
Commerce.com's revenue rose $78K (+0.1%) from $84.4M in Q2 2025 to $84.5M in Q2 2026. The biggest changes: Partner and Services +$605K (+3%); Subscription and Circulation −$527K (-0.8%). Gross margin 75.2% against 79.0% (-3.8 pts).
Commerce.com, Q2 2026: revenue $84.5M (+0.1% year over year), operating margin 3.2%, net earnings $1.1M, operating cash flow $5.1M. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Gross margin | 75.2% | 79.0% | -3.8 pts |
| Operating margin | 3.2% | -8.0% | +11.2 pts |
| Net margin | 1.3% | -9.9% | +11.2 pts |
| Free cash flow margin | 0.1% | 14.1% | -14.0 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Subscription and Circulation | $63.1M | $63.7M | −$527K | -0.8% |
| Partner and Services | $21.4M | $20.8M | $605K | +3% |
| Revenue | $84.5M | $84.4M | $78K | +0.1% |
| Gross profit | $63.5M | $66.7M | −$3.2M | -5% |
| Cost of revenue | $21.0M | $17.7M | $3.2M | +18% |
| Operating profit | $2.7M | −$6.8M | $9.5M | — |
| Operating expenses | $60.8M | $73.5M | −$12.7M | -17% |
| Pre-tax earnings | $1.3M | −$8.2M | $9.5M | — |
| Other expense, net | $1.4M | $1.4M | $24K | +2% |
| Research & development | $17.7M | $18.3M | −$636K | -3% |
| Sales & marketing | $27.5M | $35.1M | −$7.6M | -22% |
| General & admin | $14.2M | $15.9M | −$1.7M | -11% |
| Other operating costs | $1.5M | $4.2M | −$2.8M | -66% |
| Net earnings | $1.1M | −$8.4M | $9.5M | — |
| Income tax | $204K | $221K | −$17K | -8% |
| Operating cash sources | $8.0M | $2.7M | $5.3M | +198% |
| Depreciation & amortization | $3.0M | $3.8M | −$830K | -22% |
| Share-based compensation | $3.9M | $7.2M | −$3.3M | -46% |
| Working capital & other | $2.9M | −$10.9M | $13.8M | — |
| Operating cash flow | $5.1M | $13.6M | −$8.5M | -62% |
| Free cash flow (company-reported) | $50K | $11.9M | −$11.9M | -100% |
| Purchase of capitalized internal-use software, leasehold improvements, and property and equipment | $5.0M | $1.7M | $3.4M | +205% |
Questions
How much did Commerce.com's revenue grow year over year in Q2 2026?
Commerce.com's revenue rose $78K (+0.1%) from $84.4M in Q2 2025 to $84.5M in Q2 2026.
What drove Commerce.com's revenue change in Q2 2026?
Partner and Services +$605K (+3%); Subscription and Circulation −$527K (-0.8%).