CMRC · Commerce.com, Inc.

Commerce.com, Inc. delivered a strong Q1 2026 with total revenue of $86.8 million, up 5% from the prior year, driven by 3% growth in subscription solutions revenue to $63.7 million and robust 14% increase in GMV to $8.3 billion. CEO Travis Hess highlighted the company's shift from foundation-building to execution and monetization, emphasizing progress in payments, AI-driven commerce, and core platform amid a transition to distributed, AI-powered shopping channels. GAAP gross margin dipped slightly to 77% from 79%, with non-GAAP also at 77% versus 80%, potentially reflecting investment in growth areas. Operating leverage improved markedly, with GAAP operating income swinging to $5.8 million profit from a $2.4 million loss, and non-GAAP operating income rising to $12.4 million from $7.6 million. Profitability strengthened as GAAP net income reached $3.7 million versus a $0.4 million loss, with non-GAAP net income at $10.4 million or 12% of revenue. NRR edged up to 95.4% from 95.0%, and regional performance showed US revenue up 5%, EMEA up 14%, and APAC flat. Balance sheet remains solid with $157 million in cash and marketable securities, supported by $18.4 million in operating cash flow. Business momentum includes BigCommerce Payments by PayPal rollout, PayPal Store Sync integration for AI surfaces like Microsoft Copilot, Feedonomics ACE for agentic channels, Stripe Optimized Checkout expansion, and Google UCP endorsement. Customer wins like Nunu Trading, Optibac Probiotics, and Helix Linear underscore platform adoption. Guidance signals slight Q2 revenue dip to $84.5-85.5 million but full-year growth to $347.5-369.5 million with non-GAAP operating income of $34-53 million, positioning Commerce for sustained execution in AI commerce ecosystem.