© Commerce. All rights reserved. Confidential. 3Q 2025 Earnings Presentation DISCLAIMER This presentation has been prepared by Commerce.com, Inc. ("we," "us," "our," "Commerce," "Commerce.com" or the "Company"). This presentation may contain forward-looking statements which constitute the views of the Company with respect to future events which can be identified by the use of forward-looking terminology such as "anticipate," "believe," "budget," "can," "continue," "commit," "control," "could," "estimate," " ...

Core Insights - Commerce.com, Inc. reported a total revenue of $86.0 million for Q3 2025, reflecting a 3% increase compared to the same period in 2024. The total annual revenue run-rate (ARR) reached $355.7 million, up 2% year-over-year [1][6] - The company emphasized its focus on sustainable growth through strategic partnerships with AI leaders and adapting to changing buyer behavior, which is driving momentum in both B2B and B2C sectors [2] Financial Highlights - Subscription solutions revenue was $64.7 million, a 3% increase from Q3 2024 [6] - Enterprise ARR was $269.2 million, marking a 5% increase from the previous year, with enterprise accounts constituting 76% of total ARR [6] - GAAP gross margin improved to 78%, up from 76% in Q3 2024, while non-GAAP gross margin rose to 79% from 78% [6] - The number of enterprise accounts decreased by 2% to 5,751, but the average revenue per account (ARPA) increased by 7% to $46,806 [6] - GAAP net loss narrowed to $2.2 million from $7.0 million in Q3 2024, while non-GAAP net income increased to $6.2 million, representing 7% of revenue [6] Cash Flow and Outlook - Cash, cash equivalents, and marketable securities totaled $143.2 million as of September 30, 2025. Net cash provided by operating activities was $10.6 million, compared to $5.6 million in Q3 2024 [10] - The company expects Q4 2025 revenue to be between $87.8 million and $92.8 million, with full-year revenue projected between $340.6 million and $345.6 million [10][11] Business Developments - Commerce.com announced the launch of Feedonomics Surface, a new solution aimed at optimizing product catalogs for advertising channels [10] - A new embedded payment processing solution, BigCommerce Payments, is set for a U.S. launch in 2026, with plans for international expansion [10] - The company introduced new applications in the Shopify App Store to enhance cross-platform operations for merchants [10]

Core Viewpoint - Visa Inc. is recognized as a strong investment opportunity, with a "Buy" rating maintained by TD Cowen analyst Bryan Bergin, supported by robust financial performance and a positive outlook for the future [1][2]. Financial Performance - In Q4 2025, Visa reported a 12% growth in net revenue, reaching $10.7 billion, driven by healthy consumer spending trends, particularly in the US and an acceleration in the Asia-Pacific region, especially Mainland China [2]. - The company's earnings per share (EPS) and revenue exceeded expectations, attributed to growth in data processing and favorable cross-border transactions [1]. Innovation and Market Position - Visa is positioned to lead in the evolving commerce landscape due to its focus on innovation and product development, leveraging technologies such as AI-driven commerce, real-time money movement, tokenization, and stablecoins [3]. - The company operates the world's largest retail electronic payment network, which is expected to benefit from the proliferation of stablecoins, potentially expanding the addressable market for card networks [3]. Market Sentiment - Despite a decline in shares amid a broader selloff in card network stocks, the investment management company Sands Capital does not view stablecoin proliferation as a threat to card volumes, suggesting that card networks could enhance stablecoin adoption by providing necessary rules and protections [3].

Core Insights - Visa Inc. reported strong fiscal Q4 2025 results, with net revenue increasing by 12% to $10.7 billion, and a full-year net revenue of $40 billion, up 11%, indicating robust consumer spending and a resilient business model [1][2] Financial Performance - Q4 GAAP net income was $5.1 billion, or $2.62 per share, while non-GAAP net income reached $5.8 billion, or $2.98 per share. For the full year, GAAP net income totaled $20.1 billion, or $10.20 per share, and non-GAAP net income was $22.5 billion, or $11.47 per share [1] - Operating expenses for Q4 were $4.6 billion, a 40% increase, primarily due to litigation provisions and personnel expenses. For the full year, GAAP operating expenses were $16.0 billion, a 30% increase [3] Key Business Drivers - Payments volume increased by 9% in Q4 and 8% for the full year. Cross-border volume, excluding transactions within Europe, rose by 11% in Q4 and 13% for the full year [2] - Total processed transactions reached 67.7 billion for Q4, a 10% increase, and 257.5 billion for the year, also a 10% increase [2] - By segment, service revenue was $4.6 billion (up 10%), data processing revenue rose 17% to $5.4 billion, and international transaction revenue grew 10% to $3.8 billion [2] Capital Management - Visa repurchased approximately 54 million shares of class A common stock at an average cost of $335.44 per share for a total of $18.2 billion. The board also increased the quarterly cash dividend by 14% to $0.670 per share [3] - At the end of the quarter, Visa had cash, cash equivalents, and investment securities totaling $20.0 billion, with net cash provided by operating activities amounting to $23.1 billion [3] Strategic Focus - CEO Ryan McInerney emphasized Visa's commitment to innovation and product development, positioning the company to lead in the evolving payments ecosystem, particularly with advancements in AI-driven commerce, real-time money movement, tokenization, and stablecoins [1][3]

Core Insights - PayPal has become the default digital payment wallet within OpenAI-owned ChatGPT, allowing users to shop seamlessly within the AI interface [1] - This partnership positions PayPal at the forefront of AI-powered commerce, attracting interest from ETF investors [2] Deal Overview - The PayPal-OpenAI agreement is expected to serve as a significant growth catalyst for PayPal, enabling integration of its consumer and merchant networks into ChatGPT [3] - Users will be able to purchase products directly, while merchants can sell their inventory on the AI platform starting next year [3][4] Market Positioning - By being the first payment wallet embedded in ChatGPT, PayPal secures a critical position in "agentic commerce," enhancing user experience and driving transaction revenues [4][5] - The deal is anticipated to boost PayPal's Total Payment Volume (TPV) and increase consumer engagement with digital shopping assistants [4][5] ETF Implications - The announcement coincided with strong third-quarter earnings and PayPal's first-ever dividend, resulting in a nearly 4% stock price increase [6] - Investors may consider adding PayPal-centric ETFs to their portfolios for diversified exposure to digital payments and AI-driven commerce [7] ETF Details - **Global X FinTech ETF (FINX)**: Net assets of $312.3 million, with PayPal holding 5.14% of the fund [9] - **Amplify Digital Payments ETF (IPAY)**: Net assets of $258.1 million, with PayPal holding 6.4% of the fund [11] - **Trenchless Fund ETF (RVER)**: Actively managed fund with net assets of $102 million, with PayPal holding 4.89% of the fund [13]

Core Insights - Visa reported a GAAP net income of $20.1 billion for FY25, a 2% increase from the previous year [1] - The company's GAAP earnings per share grew by 5% to $10.20 [1] - Visa's net revenue for the year was $40 billion, reflecting an 11% increase year-over-year [1] Revenue Breakdown - Payments volume increased by 8% on a constant dollar basis, while cross-border volume (excluding intra-European transactions) rose by 13% [1] - Total processed transactions reached 257.5 billion, a 10% increase from the prior year [2] - Service revenue for the year was $17.5 billion, up by 9% [2] - Data processing revenue increased by 13% to $20 billion [2] - International transaction revenue grew by 12% to $14.2 billion [2] - Other revenues rose by 27%, reaching $4.1 billion [2] - Client incentives amounted to $15.8 billion, representing a 14% increase [2] Quarterly Performance - For Q4 FY25, net income decreased by 4% to $5.1 billion compared to the same quarter of the previous year [3] - Net revenue for Q4 rose 12% to $10.7 billion, supported by gains in payments volume, cross-border activity, and processed transactions [4] - Payments volume for Q4 increased by 9% on a constant-dollar basis [4] - Cross-border volume (excluding intra-Europe transactions) grew by 11% on a constant-dollar basis, while total cross-border volume was up 12% [4] - Processed transactions in Q4 reached 67.7 billion, a 10% increase from a year earlier [4] Share Repurchase Activity - Visa repurchased approximately 54 million shares of class A common stock at an average price of $335.44 per share, totaling $18.2 billion [3] - As of the end of September 2025, the company had $24.9 billion authorized for future share repurchases [3] - In Q4, Visa repurchased about 14 million shares at an average price of $349.77 per share, costing $4.9 billion [5] Strategic Focus - The company continues to invest in its Visa as a Service stack to enhance its position in the payments ecosystem [6] - Emphasis on innovation and product development is aimed at leading the transformation in commerce driven by technologies like AI, real-time money movement, tokenization, and stablecoins [6]

Accessibility StatementSkip Navigation Strategic partnerships with Wix, Cymbio, Commerce, and Shopware will allow merchants to seamlessly enable product discovery in AI platforms including Perplexity SAN JOSE, Calif., Oct. 28, 2025 /PRNewswire/ -- Today, PayPal Inc. launched agentic commerce services, a suite of solutions that allow merchants to attract customers and future-proof their success in the new era of AI- powered commerce. Built upon PayPal's trusted payments infrastructure, identity verification ...

Core Points - Commerce.com, Inc. (formerly BigCommerce Holdings, Inc.) will report its financial results for Q3 2025 on November 6, 2025, before market open [1] - A conference call to discuss the financial results and business highlights is scheduled for 7:00 a.m. CT (8:00 a.m. ET) on the same day [2] - The conference call will be accessible via phone and a live webcast on the company's investor relations website [2] - A telephone replay of the call will be available until November 13, 2025, along with a webcast replay for 12 months [3] Company Overview - Commerce provides an open, AI-driven commerce ecosystem that empowers businesses to innovate and grow [4] - The company connects various tools and systems to help businesses unlock data potential and deliver personalized experiences [4] - Commerce is trusted by notable brands such as Coldwater Creek, Cole Haan, and Puma, providing them with the necessary tools to operate confidently in a multi-surface world [4]

Core Insights - VTEX, recognized as the sole Customers' Choice commerce platform by Gartner for two consecutive years, will host VTEX Connect Europe on November 11, 2025, featuring tennis champion Rafael Nadal as a keynote speaker [1][2]. Event Overview - VTEX Connect Europe will take place alongside Web Summit 2025, the largest technology gathering globally, aiming to unite thousands from retail, manufacturing, and technology sectors to explore the impact of enterprise digital commerce and AI on operations and growth strategies [2][4]. - The event is scheduled for November 11, 2025, at Pavilhão Carlos Lopes in Lisbon, Portugal, from 17:00 to 23:00 CEST [5]. Key Themes - The event will include discussions on how AI is transforming enterprise commerce, with insights from industry leaders and special guests, including Manchester City FC [5]. - Santiago Naranjo, chief revenue officer at VTEX, emphasized the importance of mastery and precision in both sports and enterprise AI deployment, highlighting the innovative spirit of VTEX Connect Europe [3].

Walmart jumping 5% today, notching a new record close today. The company announcing a partnership with OpenAI to allow customers to buy goods directly within ChatGpt. Shoppers will get video and images along with purchase links inside their conversations.And this begs the question, will chat GPT be incented to direct shoppers to Walmart over some alternatives. For more, let's bring in CNBC's Mackenzie Sagalas. Mac.Hey, Mel. So to your question, no, this doesn't mean that Walmart gets priority placement insi ...