CMRC - Commerce.com, Inc.
Price:
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--
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CONSENSUS:
Hold
DETAILS
|
PRICE TARGET:
$3.75
DETAILS
HIGH:
$6.00
LOW:
$2.00
MEDIAN:
$3.50
CONSENSUS:
$3.75
UPSIDE:
25.84%
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | ||||||||
| Revenue | 342.3 | 332.9 | 309.4 | 279.1 | 219.9 | 152.4 | 112.1 | 91.9 |
| Cost of Revenue | 72.8 | 77.6 | 74.2 | 70.0 | 48.5 | 34.1 | 27.0 | 21.9 |
| Gross Profit | 269.6 | 255.3 | 235.2 | 209.1 | 171.4 | 118.2 | 85.1 | 69.9 |
| Operating Expenses | ||||||||
| R&D Expenses | 73.0 | 80.9 | 83.5 | 88.3 | 64.5 | 48.3 | 43.1 | 42.5 |
| SG&A Expenses | 192.8 | 191.4 | 199.1 | 210.8 | 156.2 | 108.6 | 82.9 | 65.4 |
| Other Expenses | 20.0 | 24.7 | 25.1 | 50.6 | 26.6 | 0 | 0 | (0.1) |
| Operating Expenses | 285.8 | 297.0 | 307.6 | 349.7 | 247.3 | 156.9 | 126.1 | 107.9 |
| Operating Income | ||||||||
| Operating Income | (16.2) | (41.7) | (72.4) | (140.6) | (75.9) | (38.7) | (41.0) | (38.0) |
| Interest Expense | 10.0 | 6.1 | 2.9 | 0.9 | 0.3 | 3.1 | 1.6 | 1.5 |
| Interest Income | 4.8 | 10.6 | 11.5 | 4.2 | 0.1 | 0.0 | 0.2 | 0.7 |
| Profitability | ||||||||
| EBITDA | 5.5 | (7.1) | (43.3) | (127.1) | (70.3) | (31.3) | (38.4) | (35.5) |
| EBIT | (8.1) | (20.9) | (55.8) | (138.6) | (76.5) | (34.4) | (41.0) | (37.4) |
| Income Before Tax | (18.2) | (26.0) | (64.7) | (139.4) | (76.7) | (37.5) | (42.6) | (38.9) |
| Income Tax Expense | 1.2 | 1.0 | 0 | 0.5 | (0.0) | 0.0 | 0.0 | 0.0 |
| Net Income | (19.3) | (27.0) | (64.7) | (139.9) | (76.7) | (37.6) | (42.6) | (38.9) |
| Per Share Data | ||||||||
| EPS (Basic) | -0.24 | -0.35 | -0.86 | -1.91 | -1.08 | -0.55 | -0.64 | -0.68 |
| EPS (Diluted) | -0.24 | -0.35 | -0.86 | -1.91 | -1.08 | -0.55 | -0.64 | -0.68 |
| Shares Outstanding | 80.3 | 77.6 | 75.1 | 73.2 | 70.9 | 69.5 | 66.9 | 56.9 |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|
| Current Assets | ||||||||
| Cash & Cash Equivalents | 44.3 | 88.9 | 71.7 | 91.6 | 297.6 | 219.4 | 7.8 | 12.8 |
| Short-Term Investments | 96.8 | 89.3 | 198.4 | 211.9 | 102.3 | 0 | 0 | 23.4 |
| Net Receivables | 50.0 | 48.1 | 37.7 | 35.1 | 39.8 | 22.9 | 15.5 | 10.2 |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 3.0 | 3.2 |
| Other Current Assets | 8.0 | 24.9 | 34.1 | 35.7 | 5.2 | 3.7 | 0 | 3.2 |
| Total Current Assets | 214.4 | 251.2 | 342.0 | 374.2 | 454.5 | 254.1 | 31.7 | 53.1 |
| Non-Current Assets | ||||||||
| Property, Plant & Equipment | 21.1 | 11.1 | 14.6 | 15.0 | 16.9 | 19.0 | 22.3 | 5.2 |
| Goodwill | 51.9 | 51.9 | 52.1 | 49.7 | 42.4 | 0 | 0 | 0 |
| Intangible Assets | 11.3 | 17.3 | 27.1 | 27.6 | 35.0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 10.1 | 8.7 | 8.3 | 7.5 | 6.5 | 3.6 | 2.1 | 0.8 |
| Total Non-Current Assets | 94.4 | 89.1 | 102.1 | 99.8 | 100.9 | 22.6 | 24.4 | 6.0 |
| Total Assets | 308.8 | 340.3 | 444.1 | 474.1 | 555.5 | 276.6 | 56.1 | 59.1 |
| Current Liabilities | ||||||||
| Account Payables | 9.9 | 7.0 | 8.0 | 7.0 | 8.2 | 5.8 | 3.9 | 5.5 |
| Short-Term Debt | 4.0 | 0 | 0.5 | 0 | 0 | 0 | 2.4 | 0.9 |
| Deferred Revenue | 0 | 46.6 | 32.2 | 17.8 | 12.8 | 11.4 | 9.4 | 10.4 |
| Other Current Liabilities | 87.9 | 10.0 | 10.1 | 33.2 | 18.3 | 3.1 | 9.4 | 6.0 |
| Total Current Liabilities | 108.2 | 88.0 | 70.8 | 78.8 | 62.8 | 45.9 | 33.9 | 27.6 |
| Non-Current Liabilities | ||||||||
| Long-Term Debt | 153.0 | 216.5 | 339.6 | 337.5 | 335.5 | 0 | 38.5 | 23.4 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 208.0 | 216.4 |
| Other Non-Current Liabilities | 1.3 | 0.8 | 0.6 | 0.3 | 7.2 | 0 | 15.7 | (215.5) |
| Total Non-Current Liabilities | 161.3 | 218.9 | 347.8 | 349.6 | 354.4 | 14.0 | 279.5 | 242.9 |
| Total Liabilities | 269.4 | 306.9 | 418.5 | 428.4 | 417.2 | 59.9 | 313.4 | 270.6 |
| Stockholders' Equity | ||||||||
| Common Stock | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Retained Earnings | (641.0) | (621.7) | (594.7) | (530.0) | (390.1) | (313.4) | (274.5) | (224.7) |
| Accumulated Other Comprehensive Income | 0.2 | 0.1 | 0.2 | (1.2) | (0.2) | 0 | 0 | (0.0) |
| Total Stockholders' Equity | 39.4 | 33.4 | 25.5 | 45.7 | 138.3 | 216.8 | (257.3) | (211.5) |
| Total Liabilities & Equity | 308.8 | 340.3 | 444.1 | 474.1 | 555.5 | 276.6 | 56.1 | 59.1 |
| Debt Metrics | ||||||||
| Total Debt | 165.5 | 220.6 | 350.3 | 350.1 | 348.4 | 15.8 | 59.3 | 24.4 |
| Net Debt | 121.3 | 131.7 | 278.6 | 258.5 | 50.8 | (203.6) | 51.5 | 11.6 |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | (8.4) | (27.0) | (64.7) | (139.9) | (76.7) | (37.6) | (42.6) | (38.9) |
| Depreciation & Amortization | 14.4 | 13.8 | 12.5 | 11.4 | 6.2 | 3.1 | 2.6 | 1.8 |
| Stock-Based Compensation | 23.6 | 35.4 | 41.2 | 42.3 | 25.4 | 11.1 | 3.2 | 2.1 |
| Change in Working Capital | 10.3 | 9.5 | (29.8) | (20.7) | 0.8 | (1.1) | (4.1) | 4.2 |
| Other Non-Cash Items | (12.5) | (5.4) | 16.5 | 17.5 | 4.0 | (2.0) | 1.0 | 0.0 |
| Operating Cash Flow | 27.4 | 26.3 | (24.2) | (89.4) | (40.3) | (26.5) | (40.0) | (30.6) |
| Investing Activities | ||||||||
| Capital Expenditure | (8.6) | (3.7) | (4.2) | (5.2) | (3.3) | (2.0) | (5.6) | (3.3) |
| Acquisitions | 0 | (0.1) | (7.9) | (0.7) | (81.1) | 0 | 0 | 0 |
| Purchases of Investments | (94.8) | (80.2) | (228.3) | (214.2) | (107.0) | 0 | 0 | (33.6) |
| Sales/Maturities of Investments | 87.3 | 189.3 | 243.2 | 103.5 | 4.5 | 0 | 23.4 | 10.4 |
| Other Investing Activities | (2.4) | 0 | 0 | 0 | 0 | 0 | 0 | (23.2) |
| Investing Cash Flow | (18.5) | 105.3 | 2.8 | (116.5) | (186.9) | (2.0) | 17.9 | (26.5) |
| Financing Activities | ||||||||
| Net Debt Issuance | (54.5) | (109.1) | 0.7 | 0 | 335.0 | 13.2 | 16.4 | 0 |
| Stock Repurchased | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | (12.8) | 0 | 0 |
| Other Financing Activities | (2.0) | (4.2) | (3.3) | 0 | (35.6) | 0 | 0.9 | 0.6 |
| Financing Cash Flow | (53.1) | (114.0) | 1.2 | 0.2 | 305.3 | 239.9 | 17.4 | 64.2 |
| Cash Position | ||||||||
| Net Change in Cash | (44.2) | 17.5 | (20.2) | (205.7) | 274.6 | 15.0 | (4.7) | 7.1 |
| Cash at Beginning | 90.4 | 72.8 | 93.0 | 298.7 | 24.1 | 9.2 | 13.9 | 6.8 |
| Cash at End | 46.2 | 90.4 | 72.8 | 93.0 | 298.7 | 24.1 | 9.2 | 13.9 |
| Free Cash Flow | 18.8 | 22.5 | (28.4) | (94.6) | (43.6) | (28.5) | (45.5) | (33.9) |
| Key Metrics | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|
| Income Statement | ||||||||
| Revenue | 342.3 | 332.9 | 309.4 | 279.1 | 219.9 | 152.4 | 112.1 | 91.9 |
| Gross Profit | 269.6 | 255.3 | 235.2 | 209.1 | 171.4 | 118.2 | 85.1 | 69.9 |
| Operating Income | (16.2) | (41.7) | (72.4) | (140.6) | (75.9) | (38.7) | (41.0) | (38.0) |
| Net Income | (19.3) | (27.0) | (64.7) | (139.9) | (76.7) | (37.6) | (42.6) | (38.9) |
| EPS (Diluted) | -0.24 | -0.35 | -0.86 | -1.91 | -1.08 | -0.55 | -0.64 | -0.68 |
| Balance Sheet | ||||||||
| Cash & Equivalents | 44.3 | 88.9 | 71.7 | 91.6 | 297.6 | 219.4 | 7.8 | 12.8 |
| Total Assets | 308.8 | 340.3 | 444.1 | 474.1 | 555.5 | 276.6 | 56.1 | 59.1 |
| Total Debt | 165.5 | 220.6 | 350.3 | 350.1 | 348.4 | 15.8 | 59.3 | 24.4 |
| Stockholders' Equity | 39.4 | 33.4 | 25.5 | 45.7 | 138.3 | 216.8 | (257.3) | (211.5) |
| Cash Flow | ||||||||
| Operating Cash Flow | 27.4 | 26.3 | (24.2) | (89.4) | (40.3) | (26.5) | (40.0) | (30.6) |
| Capital Expenditure | (8.6) | (3.7) | (4.2) | (5.2) | (3.3) | (2.0) | (5.6) | (3.3) |
| Free Cash Flow | 18.8 | 22.5 | (28.4) | (94.6) | (43.6) | (28.5) | (45.5) | (33.9) |