[Commerce Q2 2025 Financial Results](index=1&type=section&id=Commerce%20Announces%20Second%20Quarter%202025%20Financial%20Results) [Financial & Business Highlights](index=1&type=section&id=Second%20Quarter%20Financial%20Highlights) The company reported Q2 revenue of $84.4 million and announced a major rebranding to Commerce, focusing on an AI-driven ecosystem - The company rebranded from BigCommerce Holdings, Inc to Commerce.com, Inc, unifying its brands under a new parent, Commerce[2](index=2&type=chunk) - CEO Travis Hess stated the company's transformation phase is complete, with a new focus on executing an **AI-driven commerce ecosystem**[3](index=3&type=chunk) Q2 2025 Key Financial Metrics (vs. Q2 2024) | Metric | Q2 2025 | Q2 2024 | Change | | :--- | :--- | :--- | :--- | | **Total Revenue** | $84.4M | $81.8M | +3% | | **Total ARR** | $354.6M | $344.3M (implied) | +3% | | **Enterprise ARR** | $269.3M | $254.1M (implied) | +6% | | **GAAP Gross Margin** | 79% | 76% | +3 p.p. | | **Non-GAAP Gross Margin** | 80% | 77% | +3 p.p. | | **GAAP Loss from Operations** | ($6.8M) | ($13.5M) | Improved | | **Non-GAAP Operating Income** | $4.8M | $1.9M | +153% | | **Adjusted EBITDA** | $5.7M | $3.0M | +90% | | **GAAP Net Loss per Share** | ($0.10) | ($0.15) | Improved | | **Non-GAAP Net Income per Share** | $0.04 | $0.05 | -20% | Q2 2025 Key Business Metrics (vs. Q2 2024) | Metric | As of June 30, 2025 | Change YoY | | :--- | :--- | :--- | | **Number of Enterprise Accounts** | 5,803 | -3% | | **ARPA of Enterprise Accounts** | $46,403 | +9% | | **Enterprise ARR as % of Total ARR** | 76% | +3 p.p. | Q2 2025 Revenue Growth by Geography (vs. Q2 2024) | Region | Growth Rate | | :--- | :--- | | **United States** | +3% | | **EMEA** | +7% | | **APAC** | -4% | [Business Highlights](index=2&type=section&id=Business%20Highlights) Strategic developments included a new board appointment, multiple industry awards, and key partnerships to accelerate merchant performance through AI [Corporate Highlights](index=2&type=section&id=Corporate%20Highlights) - Former Adobe Fellow and Vice President of Technology, **Anil Kamath, joined the Company's Board of Directors**[12](index=12&type=chunk) - For the third consecutive year, BigCommerce received **24 out of 24 medals** in the 2025 Paradigm B2B Combines for Digital Commerce Solutions[12](index=12&type=chunk) - Launched the **B2B Quick Start Accelerator**, a partner-led program to help mid-market B2B sellers launch faster and achieve ROI sooner[12](index=12&type=chunk) [Customer Highlights](index=2&type=section&id=Customer%20Highlights) - Several customers launched new storefronts, including **Minerva Beauty**, **NanoTemper Technologies**, and **Belami e-Commerce**[11](index=11&type=chunk)[15](index=15&type=chunk) - **Great Star Tools** utilized the Multi-Storefront functionality to build separate B2B and B2C sites for its subsidiary companies[15](index=15&type=chunk) [Partner Highlights](index=3&type=section&id=Partner%20Highlights) - Customers can now access the AI-powered search engine **Perplexity**, improving brand visibility in AI search results[15](index=15&type=chunk) - Deepened its partnership with **Google Cloud** to leverage next-generation AI tools for accelerating merchant performance[15](index=15&type=chunk) - Launched an ecommerce accelerator for the UK building materials industry in collaboration with **Brave Bison, Pimberly, and The Journey**[15](index=15&type=chunk) [Financial Outlook](index=3&type=section&id=Q3%20and%202025%20Financial%20Outlook) The company projects Q3 revenue of $85-$87 million and full-year 2025 revenue of $339.6-$346.6 million Q3 2025 Financial Outlook | Metric | Expected Range | | :--- | :--- | | **Total Revenue** | $85.0M - $87.0M | | **Non-GAAP Operating Income** | $2.3M - $3.3M | Full Year 2025 Financial Outlook | Metric | Expected Range | | :--- | :--- | | **Total Revenue** | $339.6M - $346.6M | | **Non-GAAP Operating Income** | $19.0M - $25.0M | [Condensed Consolidated Financial Statements](index=7&type=section&id=Condensed%20Consolidated%20Financial%20Statements) The statements show total assets of $302.5 million, a Q2 GAAP net loss of ($8.4) million, and net cash from operations of $13.6 million [Condensed Consolidated Balance Sheets](index=7&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Balance Sheet Summary (in thousands) | Account | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | **Total Current Assets** | $209,664 | $251,219 | | **Total Assets** | $302,534 | $340,289 | | **Total Current Liabilities** | $98,281 | $88,006 | | **Total Liabilities** | $263,768 | $306,920 | | **Total Stockholders' Equity** | $38,766 | $33,369 | [Condensed Consolidated Statements of Operations](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Statement of Operations Summary - Three Months Ended June 30 (in thousands) | Account | 2025 | 2024 | | :--- | :--- | :--- | | **Revenue** | $84,433 | $81,829 | | **Gross Profit** | $66,694 | $62,018 | | **Loss from Operations** | ($6,787) | ($13,488) | | **Net Loss** | ($8,382) | ($11,255) | | **Basic Net Loss per Share** | ($0.10) | ($0.15) | [Condensed Consolidated Statements of Cash Flows](index=9&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Statement of Cash Flows Summary - Three Months Ended June 30 (in thousands) | Activity | 2025 | 2024 | | :--- | :--- | :--- | | **Net cash provided by operating activities** | $13,557 | $11,738 | | **Net cash provided by (used in) investing activities** | ($21,223) | $60,324 | | **Net cash provided by financing activities** | $1,847 | $134 | | **Net change in cash** | ($5,819) | $72,196 | | **Cash, end of period** | $47,429 | $134,208 | [Disaggregation of Revenue](index=10&type=section&id=Disaggregation%20of%20Revenue) Revenue is detailed by type and geography, with subscription solutions at $63.7 million and the US market contributing $64.4 million Revenue by Type - Three Months Ended June 30 (in thousands) | Type | 2025 | 2024 | | :--- | :--- | :--- | | **Subscription solutions** | $63,656 | $61,796 | | **Partner and services** | $20,777 | $20,033 | | **Total Revenue** | $84,433 | $81,829 | Revenue by Geography - Three Months Ended June 30 (in thousands) | Region | 2025 | 2024 | | :--- | :--- | :--- | | **United States** | $64,405 | $62,428 | | **EMEA** | $9,889 | $9,281 | | **APAC** | $6,118 | $6,343 | | **Rest of World** | $4,021 | $3,777 | | **Total Revenue** | $84,433 | $81,829 | [Reconciliation of GAAP to Non-GAAP Results](index=11&type=section&id=Reconciliation%20of%20GAAP%20to%20Non-GAAP%20Results) This section details adjustments from GAAP to non-GAAP measures, reconciling a ($6.8) million GAAP operating loss to a $4.8 million non-GAAP income Q2 2025 GAAP to Non-GAAP Reconciliation Summary (in thousands) | Metric | GAAP Value | Non-GAAP Value | | :--- | :--- | :--- | | **Loss from Operations** | ($6,787) | $4,783 | | **Net Loss / Income** | ($8,382) | $3,188 | | **Net Loss / Income per Share** | ($0.10) | $0.04 | | **Net Cash from Operations** | $13,557 | N/A | | **Free Cash Flow** | N/A | $11,906 | [Definitions of Key Metrics and Non-GAAP Measures](index=5&type=section&id=Use%20of%20Non-GAAP%20Financial%20Measures) Key performance indicators and non-GAAP measures such as ARR, Adjusted EBITDA, and Free Cash Flow are defined - **Annual Revenue Run-Rate (ARR):** Calculated as 12 times the contractual monthly recurring revenue plus the trailing twelve-month non-recurring and variable revenue[23](index=23&type=chunk) - **Adjusted EBITDA:** Defined as net loss excluding stock-based compensation, amortization of intangibles, acquisition costs, restructuring charges, depreciation, interest, and taxes[27](index=27&type=chunk) - **Non-GAAP Operating Income (Loss):** Defined as GAAP Loss from operations excluding stock-based compensation, amortization of intangibles, acquisition-related costs, and restructuring charges[29](index=29&type=chunk) - **Free Cash Flow:** Defined as GAAP cash flow from operating activities less cash paid for website domain name and purchases of property, equipment, and capitalized software[32](index=32&type=chunk)

Core Insights - Commerce.com, Inc. reported total revenue of $84.4 million for the second quarter of 2025, reflecting a 3% increase compared to the same period in 2024 [6][12] - The company has rebranded from BigCommerce Holdings, Inc. to Commerce.com, Inc., unifying its subsidiaries to enhance its AI-driven commerce ecosystem [1][2] Financial Performance - Total Annual Revenue Run-Rate (ARR) reached $354.6 million, also up 3% year-over-year [6] - Enterprise ARR was $269.3 million, marking a 6% increase from the previous year, with Enterprise Accounts constituting 76% of total ARR [6][12] - Subscription solutions revenue amounted to $63.7 million, a 3% increase compared to the second quarter of 2024 [6] - GAAP gross margin improved to 79%, up from 76% in the same quarter last year, while Non-GAAP gross margin rose to 80% from 77% [6] - The company reported a GAAP loss from operations of $6.8 million, significantly reduced from a loss of $13.5 million in the second quarter of 2024 [6][12] Key Business Metrics - The number of enterprise accounts decreased by 3% to 5,803, while the average revenue per account (ARPA) increased by 9% to $46,403 [6] - Revenue growth varied by region: 3% in the United States, 7% in EMEA, and a 4% decline in APAC [6] - Adjusted EBITDA for the quarter was $5.7 million, up from $3.0 million in the second quarter of 2024 [7] Customer and Product Highlights - Commerce.com launched the B2B Quick Start Accelerator to assist mid-market B2B sellers in launching faster and reducing risk [12] - The company received a 2025 Top Rated Award for ecommerce from TrustRadius based on strong customer reviews [12] - Notable customer implementations included Minerva Beauty and Great Star Tools, showcasing the use of Commerce's Multi-Storefront functionality [12] Future Outlook - For Q3 2025, the company expects total revenue between $85 million to $87 million and Non-GAAP operating income between $2.3 million to $3.3 million [18] - The full-year revenue forecast is between $339.6 million and $346.6 million, with Non-GAAP operating income projected between $19 million and $25 million [18]

Core Insights - PROS Holdings, Inc. and Commerce have formed a strategic partnership aimed at redefining B2B digital commerce through AI-powered pricing and selling solutions [1][2][3] Company Overview - PROS Holdings, Inc. is a leading provider of SaaS solutions that optimize omnichannel shopping and selling experiences, leveraging predictive AI, real-time analytics, and automation to enhance pricing and product recommendations [5] - Commerce operates an open, AI-driven commerce ecosystem, connecting various tools and systems to empower businesses to innovate and grow, serving a diverse range of clients [6] Industry Trends - B2B buyers are increasingly demanding accuracy, speed, and transparency throughout the purchasing journey, necessitating advanced solutions to handle the complexities of large-scale operations [2] - The partnership aims to address these demands by integrating PROS' enterprise-grade pricing and CPQ with Commerce's applications, resulting in fewer delays and reduced errors [2][3] Strategic Implications - The collaboration is expected to enable businesses to optimize pricing, streamline quoting processes, and deliver real-time offers, thereby enhancing buyer confidence and accelerating decision-making [3] - This partnership is positioned to set a new standard for modern commerce, impacting not only B2B but also B2C retailers managing large, dynamic catalogs [4]

Core Viewpoint - Commerce, formerly known as BigCommerce Holdings, Inc., has rebranded to unify its offerings and enhance its focus on AI-driven commerce, aiming to empower merchants in the evolving digital landscape [3][4][5]. Company Overview - Commerce has officially changed its corporate name to Commerce.com, Inc., and will trade under the ticker symbol "CMRC" on the Nasdaq Global Market starting August 1, 2025 [3]. - The rebranding integrates BigCommerce, Feedonomics, and Makeswift into a cohesive platform designed to support the next era of agentic commerce [3][6]. Strategic Vision - The company aims to enable merchants to thrive in an environment where AI acts on behalf of consumers, facilitating research, recommendations, and transactions [4][10]. - Commerce emphasizes the importance of an open, intelligent ecosystem that connects various tools and systems to drive growth and deliver personalized experiences [6][8]. Market Positioning - The shift towards AI-driven commerce is characterized by a decline in traditional organic search methods, with consumers increasingly relying on AI-powered platforms for product discovery and purchasing [8][9]. - Commerce is positioned to help businesses adapt to this new landscape by providing AI-optimized solutions that enhance visibility and performance across digital channels [12]. Product Offerings - The company offers a comprehensive solution for AI-driven commerce, with Feedonomics optimizing merchant data, BigCommerce serving as the operating system, and Makeswift powering AI-optimized storefronts [10]. - Partnerships with AI leaders like Perplexity and Google Cloud have been established to enhance the capabilities of Commerce's offerings [11]. Leadership and Future Outlook - The leadership team, under CEO Travis Hess, is focused on innovation and sustainable growth, positioning Commerce as a trusted partner in the digital commerce space [13]. - The company aims to leverage AI for personalization, automation, and data orchestration throughout the customer journey, ensuring businesses can adapt in real-time [12].

Core Insights - BigCommerce and Feedonomics have announced a strengthened partnership with Google Cloud to enhance merchant performance through advanced AI tools [1][2][3] Group 1: Partnership and Innovations - The collaboration aims to improve product discoverability and increase conversion rates for BigCommerce merchants within the Google Cloud ecosystem [2] - Key innovations include Feedonomics Surface for optimizing product data delivery to Google Merchant Center, enhancing visibility across sales channels [6] - AI-powered data enrichment features will allow merchants to automatically enhance product catalogs, improving search performance and conversion rates [6] Group 2: Benefits for Merchants - The partnership provides merchants with enterprise-grade scalability, security, and performance necessary for success in the evolving agentic commerce landscape [3] - Advanced developer tools, combining BigCommerce's Model Context Protocol with Google's Agent Development Kit, will enable the creation of intelligent, commerce-aware merchant agents [6] Group 3: Company Backgrounds - BigCommerce is a leading open SaaS ecommerce platform serving B2C and B2B businesses globally, with a diverse customer base across 150 countries [4] - Feedonomics is a prominent data management platform that supports omnichannel growth for top brands and retailers, with numerous integrations and partnerships [5]

Core Insights - BigCommerce has launched the B2B Quick Start Accelerator Program aimed at helping mid-market B2B sellers to launch their digital platforms faster and achieve quicker ROI [1][3] - The program offers pre-scoped, fixed-cost packages delivered by certified B2B-specialized agency partners, ensuring a more predictable and efficient onboarding process [2][4] Program Details - The Quick Start Accelerator features tiered implementation options priced at $15,000, $30,000, and $50,000, catering to different business needs from basic storefronts to fully integrated B2B experiences [3] - Each package includes essential services such as theme setup, product and customer data import, B2B Edition configuration, and ERP integrations, with a goal to launch a working storefront in 90 days or less [3][6] Partner and Quality Assurance - Participation in the program is limited to agencies that have achieved BigCommerce B2B Specialized certification, ensuring quality and consistency in service delivery [4][6] - The program aims to simplify the launch process, reduce uncertainty, and enhance customer satisfaction, ultimately driving long-term growth for both merchants and agencies [4]

Core Insights - BigCommerce has launched the "Branch of the Future" accelerator specifically for the UK building materials industry, aimed at digitizing operations and enhancing customer experiences [1][4] - The company has joined the Builders Merchants Federation (BMF) to strengthen its commitment to the building supplies sector [2] Industry Context - The building supplies sector has traditionally relied on offline interactions, but there is a growing demand for seamless, omnichannel experiences from trade buyers [3] - Many builders merchants have been underserved by generic ecommerce solutions that do not address the complexities of trade pricing and real-time inventory [3] Accelerator Features - The accelerator combines proven technologies with industry expertise to help builders' merchants modernize their online experiences quickly and affordably [4] - It includes capabilities such as customer-specific pricing, product visibility, and quoting, which are typically missing from legacy platforms [7] - Pimberly contributes over 1.5 million pre-optimized SKUs tailored for the building materials sector, enhancing product information management [8][9] Business Transformation - The accelerator aims to reduce operational costs by automating repetitive tasks, allowing teams to focus on higher-value work [6] - Business transformation consulting from The Journey leverages over 25 years of experience in the building materials industry to assist merchants in enhancing their digital channels [9][15]

Core Insights - BigCommerce has achieved 24 out of 24 total medals in the 2025 Paradigm B2B Combines for Digital Commerce Solutions, marking its third consecutive year of recognition [1] - The company received more Gold medals in the Midmarket Edition than any other platform, enhancing its position as a preferred choice for midmarket and enterprise B2B organizations [1][3] Awards and Recognition - In the Paradigm B2B Midmarket Edition, BigCommerce secured 12 medals, including 10 Gold medals for categories such as Vision & Strategy, Ability to Execute, and Customer Service & Support [3][4] - The Enterprise Edition awards included 12 medals, with five Gold medals for Vision & Strategy, Total Cost of Ownership, and Sales & Channel Enablement [4] Product Features and Capabilities - BigCommerce B2B Edition enables manufacturers, distributors, and wholesalers to scale efficiently by streamlining operations and personalizing buyer experiences [2] - Newly launched features like Configure-Price-Quote (CPQ) and Advanced Account Hierarchy enhance operational efficiency and customer loyalty [2][3] Market Positioning - BigCommerce is positioned as a value-priced, partner-centric, multitenant SaaS ecommerce solution, appealing to enterprise and mid-market B2B companies [5] - The platform's extensive open application marketplace and robust APIs facilitate easy configuration and replication across B2B business units [5] Methodology and Evaluation - The Paradigm B2B Combine report evaluates vendors based on a robust scoring methodology across 38 criteria, emphasizing customer feedback [6] - Medals are awarded based on composite scores in 12 distinct categories, ensuring a fair evaluation process [6]

Core Insights - Graham & Brown has successfully launched a B2B ecommerce site on BigCommerce, leading to improvements in customer experience, revenue growth, operational efficiency, and digital maturity [1][2][3] Group 1: Revenue Growth and Market Expansion - The B2B ecommerce site was launched within 12 weeks, with 90% of key accounts adopting the new digital channel shortly after launch, indicating strong demand for a more efficient buying experience [3] - Following initial success, Graham & Brown expanded the platform to Ireland and the broader European market by March 2025, supporting multi-currency transactions in GBP, USD, EUR, AUD, and NZD [4] Group 2: Enhancing Customer Experience - The digital transformation focused on improving customer experience by engaging real customers during the development process, leading to features tailored for B2B buyers, such as a Quick Order tool and real-time visibility into credit balances [5] - An innovative feature introduced was the bespoke print-to-order wallpaper mural creation tool, allowing trade clients to customize dimensions and designs [6] Group 3: Operational Efficiencies - The new platform has significantly reduced the burden on the sales team and customer service, as routine transactions and inquiries have shifted online, leading to fewer inbound calls and a decrease in order backlogs [7] - The platform has successfully met the operational efficiency goals set by Graham & Brown while aligning with the brand's core values [8]

Core Points - BigCommerce Holdings, Inc. will report its financial results for the second quarter ended June 30, 2025, before market open on July 31, 2025 [1] - A conference call and webcast to discuss the financial results and business highlights is scheduled for 7:00 a.m. CT (8:00 a.m. ET) on July 31, 2025 [2] - The conference call can be accessed via specific phone numbers for the United States, Canada, and internationally, and a live webcast will be available on BigCommerce's investor relations website [2] - A telephone replay of the conference call will be available until August 7, 2025, and a webcast replay will be accessible for 12 months [3] - BigCommerce is a leading open SaaS and composable ecommerce platform that serves a wide range of brands and retailers globally [4] - The platform is utilized by tens of thousands of B2C and B2B companies across 150 countries, highlighting its extensive reach and industry presence [4]