Description

Commerce.com Unlocks A Modular Commerce Stack — Feedonomics, Makeswift & BigCommerce!

Commerce reported second-quarter 2026 revenue of $84.5 million, in line with guidance, while non-GAAP operating income of $8.1 million exceeded the $4 million to $5 million guidance range. Gross merchandise volume increased 14% year-over-year to $8.8 billion, including 17% B2B GMV growth. The company posted positive GAAP net income for a second consecutive quarter, while net revenue retention improved sequentially to 95.8% for a third straight quarter of improvement. Annual recurring revenue totaled $360.5 million. First-half operating cash flow reached $23.5 million and free cash flow was $14.1 million, reflecting stronger cash generation and higher capital expenditures related to product investments. Commerce is navigating softer B2C replatforming activity and shifting merchant investment priorities driven by AI adoption and changing product discovery channels. Investment is being concentrated in product intelligence, experience layer solutions, and transaction capabilities. Feedonomics processes more than 1 trillion product listings monthly and supports AI-driven commerce discovery.