Commerce.com, Inc. (CMRC) Stock

Commerce.com, Inc. (CMRC) is a Technology stock trading at $2.22 (as of 2026-08-21), with a market capitalization of $183.95M and a trailing P/E of 29.1. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Commerce.com, Inc. provides a SaaS e-commerce platform used by brands and retailers to run online stores, including capabilities such as store setup, catalog management, hosting, checkout, order management, and reporting, with integrations prepared for third-party services. It serves customers across the United States and other regions including North and South America, Europe, the Middle East, Africa, and Asia Pacific.

Understand Commerce.com, Inc.: how it makes money

Commerce.com, Inc. provides a software-as-a-service e-commerce platform for brands and retailers, selling tools for launching and scaling online stores (design, catalog management, hosting, checkout, order management, and reporting) plus pre-integration into third-party services like payments and shipping.

The profit model is driven by recurring subscription revenue from its e-commerce platform, with customer stickiness supported by Net Revenue Retention of 95.4% (99.0% for enterprise accounts).

Revenue by segment (latest quarter)
Subscription	$0.1B
PartnerSvcs	$0.0B
Feedonomics	$0.0B

Business quality (Weak): The dataset includes clear operating retention metrics and a segment revenue split (Subscription, Partner and Services, Feedonomics), which helps explain how recurring customer economics flow through the model.

Bull case

High retention: Net Revenue Retention is 95.4%, and Net Revenue Retention for Enterprise Accounts is 99.0%, which indicates customers generally continue and expand within the platform.
Large recurring contribution: Subscription Solutions Revenue is the largest reported segment at 0.06B for the latest period, providing a steady base relative to Partner and Services Revenue (0.02B) and Feedonomics (0.01B).

Bear case

Retention is not perfect: Net Revenue Retention below 100% (95.4%) implies some customer contraction or churn risk, which can pressure recurring revenue growth.
Working capital sensitivity: Days Sales Outstanding is 41.0 days, so cash conversion timing could affect near-term liquidity even if revenue is recurring.
Limited near-term remaining performance obligation visibility: The Current Portion of Remaining Performance Obligations is 0.0 USD_B, which may indicate no near-term remaining performance obligation contribution shown in this dataset.

Valuation — source: SEC EDGAR (first-party)
Price	$2.22
Market Cap	$183.95M
P/E Ratio	29.1
EV / EBITDA	11.1
Price / Book	3.56
Price / Sales	0.53
FCF Yield	19.5%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$342.35M
Net Margin	-5.6%
Revenue Growth (YoY)	2.8%
EPS Growth (YoY)	-31.4%
FCF Growth (YoY)	-25.0%

Financial Health — source: SEC EDGAR
Altman Z-Score	-1.15 (distress)
Piotroski F-Score	6/9 (moderate)

Valuation vs Sector & Industry
Stock P/E	29.1
Sector P/E (Technology)	34.0
Industry P/E (Business Services)	30.2
vs Sector	-14.3%
vs Industry	-3.5%

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	M&T Bank Corp ($75.81M)
Institutional Holders Tracked	10

Company
Sector	Technology
Industry	Business Services
CEO	Christopher Travis Hess
Employees	1,161
Country	US
IPO Date	2020-08-05

Related Companies (Business model: SaaS / Subscription Software (Enterprise); 8 closest by market cap; US-domiciled)

Data as of 2026-08-21.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.