Commerce Strikes a Major PayPal Partnership That Could Supercharge Embedded Payments!

Commerce, formerly known as BigCommerce, reported third-quarter 2025 results that reflected modest revenue growth, continued progress in profitability, and a clear emphasis on repositioning the company around AI-driven and agentic commerce initiatives. The company generated $86 million in revenue, marking a 3% year-over-year increase that aligned with prior guidance. Non-GAAP operating income reached $8 million, significantly exceeding profitability expectations, while operating cash flow came in at approximately $11 million. Annual recurring revenue stood at $356 million, up 2% year-over-year, with enterprise customers representing 76% of the total. Average revenue per enterprise account rose 7% to roughly $46,800, reflecting improving monetization within the installed base. Gross margins remained strong at 79%, and cost discipline enabled the company to reduce net debt by 86% year-over-year to just under $11 million. Commerce ended the quarter with $143 million in cash and marketable securities, supported by a substantial tax asset in the form of $249.7 million in net operating loss carryforwards.