Filing Flows › Commerce.com (CMRC) › Q3 2025
Commerce.com (CMRC) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 6, 2025
Commerce.com (CMRC) reported revenue of $86.0M for the third quarter 2025 (Q3 2025), +3% from a year earlier and +2% from the quarter before. Operating margin was -0.5%, net loss $2.2M (2.6% of revenue).
Commerce.com, Q3 2025: revenue $86.0M (+3% year over year), operating margin -0.5%, net loss $2.2M, operating cash flow $10.6M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $86.0M | +2% | +3% |
| Operating profit | −$435K | — | — |
| Net earnings | −$2.2M | — | — |
| Operating cash flow | $10.6M | -22% | +89% |
| Free cash flow | $7.6M | — | +68% |
What changed
Revenue was $86.0M in Q3 2025, up 3% year over year and up 2% from the previous quarter. Subscription and Circulation was the largest line at 75% of revenue. Subscription and Circulation added $1.9M year over year (up 3%), 81% of the total change.
Gross margin was 78.4%, up 2.1 points from a year earlier. Operating costs exceeded revenue by $435K, an operating margin of -0.5%. Operating expenses fell 18% while revenue rose 3%. The quarter ended with a net loss of $2.2M, narrower than the previous quarter's $8.4M loss. Net interest and other expense of $1.6M was the main reason.
Operating cash flow was $10.6M (up 89% year over year). Non-cash charges added back $2.7M of depreciation and amortization and $6.3M of share-based compensation. Working capital and other items added $3.7M. After purchase of property, equipment, leasehold improvements and capitalized internal-use software ($3.0M), free cash flow as the company reports it was $7.6M.
Questions
What was Commerce.com's revenue in the third quarter 2025?
Commerce.com (CMRC) reported revenue of $86.0M for the third quarter 2025 (Q3 2025), +3% from a year earlier and +2% from the quarter before.
Was Commerce.com profitable in the third quarter 2025?
Operating loss was $435K (-0.5% of revenue) and net loss $2.2M.
Source: Commerce.com 10-Q on SEC EDGAR.