Commerce Q4 Revenue Rises 3% to $89.5M, Enterprise ARR Up 10%
Commerce’s Q4 revenue climbed 3% to $89.5 million with total ARR up 3% to $359.1 million and enterprise ARR rising 10% to $287.2 million. Fiscal 2025 revenue grew 3% to $342.3 million, non-GAAP operating income rose to $27.8 million and cash balances totaled $143.0 million.
1. Fourth Quarter Highlights
Commerce reported Q4 revenue of $89.5 million, up 3% year-over-year. Total ARR reached $359.1 million (3% growth), with enterprise ARR of $287.2 million (10% growth). Gross Merchandise Volume hit $8.9 billion and net revenue retention stood at 95.2%.
2. Business Metrics and Regional Performance
The company added enterprise accounts to reach 6,648 (13% growth), though average revenue per enterprise account declined 3% to $43,200. U.S. revenue grew 2%, EMEA revenue surged 20%, while APAC revenue fell 5% versus the prior year quarter.
3. Profitability and Cash Flow
GAAP loss from operations widened to $6.6 million versus $0.8 million a year earlier, while non-GAAP operating income was $7.4 million. Adjusted EBITDA came in at $8.3 million, cash and equivalents totaled $143.0 million, and free cash flow was negative $0.3 million.
4. Fiscal Year 2025 Results
Full-year revenue rose 3% to $342.3 million and subscription revenue increased 3% to $255.6 million. GMV reached $31.7 billion (12% growth), GAAP gross margin improved to 79%, GAAP net loss narrowed to $19.3 million, and non-GAAP operating income grew to $27.8 million.