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Side-by-side financial comparison of CAMDEN NATIONAL CORP (CAC) and Commerce.com, Inc. (CMRC). Click either name above to swap in a different company.
Commerce.com, Inc. is the larger business by last-quarter revenue ($89.5M vs $64.3M, roughly 1.4× CAMDEN NATIONAL CORP). CAMDEN NATIONAL CORP runs the higher net margin — 34.0% vs -9.3%, a 43.4% gap on every dollar of revenue. Over the past eight quarters, CAMDEN NATIONAL CORP's revenue compounded faster (22.6% CAGR vs 5.5%).
Camden National Bank is a commercial bank headquartered in Camden, Maine, operating as the principal subsidiary of Camden National Corporation, a publicly traded bank holding company. Founded in 1875, the bank became a direct, wholly owned subsidiary of the holding company following a corporate reorganization in 1984. Following the 2025 merger with Northway Financial, the combined institution has approximately $7.0 billion in assets.
SPS Commerce, Inc. is a technology and application software company based in the United States that provides cloud-based supply chain management software. The company's headquarters are located in Minneapolis, Minnesota, but it also has a US office in New Jersey, and international locations in Amsterdam, Beijing, Breukelen, Hong Kong, Kyiv, Melbourne, Montpellier, Sydney, and Toronto.
CAC vs CMRC — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $64.3M | $89.5M |
| Net Profit | $21.9M | $-8.4M |
| Gross Margin | — | 78.3% |
| Operating Margin | — | -7.4% |
| Net Margin | 34.0% | -9.3% |
| Revenue YoY | — | 2.9% |
| Net Profit YoY | — | -250.0% |
| EPS (diluted) | $1.29 | $-0.11 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $64.3M | — | ||
| Q4 25 | $68.1M | $89.5M | ||
| Q3 25 | $65.4M | $86.0M | ||
| Q2 25 | $62.3M | $84.4M | ||
| Q1 25 | $60.1M | $82.4M | ||
| Q4 24 | $47.6M | $87.0M | ||
| Q3 24 | $45.0M | $83.7M | ||
| Q2 24 | $42.8M | $81.8M |
| Q1 26 | $21.9M | — | ||
| Q4 25 | $22.6M | $-8.4M | ||
| Q3 25 | $21.2M | $-2.2M | ||
| Q2 25 | $14.1M | $-8.4M | ||
| Q1 25 | $7.3M | $-353.0K | ||
| Q4 24 | $14.7M | $-2.4M | ||
| Q3 24 | $13.1M | $-7.0M | ||
| Q2 24 | $12.0M | $-11.3M |
| Q1 26 | — | — | ||
| Q4 25 | — | 78.3% | ||
| Q3 25 | — | 78.4% | ||
| Q2 25 | — | 79.0% | ||
| Q1 25 | — | 79.4% | ||
| Q4 24 | — | 77.6% | ||
| Q3 24 | — | 76.3% | ||
| Q2 24 | — | 75.8% |
| Q1 26 | — | — | ||
| Q4 25 | 41.5% | -7.4% | ||
| Q3 25 | 40.5% | -0.5% | ||
| Q2 25 | 28.5% | -8.0% | ||
| Q1 25 | 10.3% | -2.9% | ||
| Q4 24 | 38.7% | -0.9% | ||
| Q3 24 | 35.2% | -23.0% | ||
| Q2 24 | 34.7% | -16.5% |
| Q1 26 | 34.0% | — | ||
| Q4 25 | 33.1% | -9.3% | ||
| Q3 25 | 32.4% | -2.6% | ||
| Q2 25 | 22.6% | -9.9% | ||
| Q1 25 | 12.2% | -0.4% | ||
| Q4 24 | 30.8% | -2.7% | ||
| Q3 24 | 29.1% | -8.4% | ||
| Q2 24 | 28.0% | -13.8% |
| Q1 26 | $1.29 | — | ||
| Q4 25 | $1.33 | $-0.11 | ||
| Q3 25 | $1.25 | $-0.03 | ||
| Q2 25 | $0.83 | $-0.10 | ||
| Q1 25 | $0.43 | $0.00 | ||
| Q4 24 | $1.00 | $-0.03 | ||
| Q3 24 | $0.90 | $-0.09 | ||
| Q2 24 | $0.81 | $-0.15 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $141.1M |
| Total DebtLower is stronger | $514.4M | $157.0M |
| Stockholders' EquityBook value | $710.0M | $39.4M |
| Total Assets | $7.0B | $308.8M |
| Debt / EquityLower = less leverage | 0.72× | 3.99× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | — | $141.1M | ||
| Q3 25 | — | $142.0M | ||
| Q2 25 | — | $134.5M | ||
| Q1 25 | — | $120.7M | ||
| Q4 24 | — | $178.2M | ||
| Q3 24 | — | $168.4M | ||
| Q2 24 | — | $275.8M |
| Q1 26 | $514.4M | — | ||
| Q4 25 | — | $157.0M | ||
| Q3 25 | — | $157.3M | ||
| Q2 25 | — | $157.5M | ||
| Q1 25 | — | $157.8M | ||
| Q4 24 | — | $216.5M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $340.9M |
| Q1 26 | $710.0M | — | ||
| Q4 25 | $696.6M | $39.4M | ||
| Q3 25 | $676.4M | $42.8M | ||
| Q2 25 | $652.1M | $38.8M | ||
| Q1 25 | $640.1M | $38.1M | ||
| Q4 24 | $531.2M | $33.4M | ||
| Q3 24 | $529.9M | $29.0M | ||
| Q2 24 | $508.3M | $26.1M |
| Q1 26 | $7.0B | — | ||
| Q4 25 | $7.0B | $308.8M | ||
| Q3 25 | $7.0B | $309.5M | ||
| Q2 25 | $6.9B | $302.5M | ||
| Q1 25 | $7.0B | $286.3M | ||
| Q4 24 | $5.8B | $340.3M | ||
| Q3 24 | $5.7B | $335.1M | ||
| Q2 24 | $5.7B | $452.5M |
| Q1 26 | 0.72× | — | ||
| Q4 25 | — | 3.99× | ||
| Q3 25 | — | 3.67× | ||
| Q2 25 | — | 4.06× | ||
| Q1 25 | — | 4.14× | ||
| Q4 24 | — | 6.49× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 13.06× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | — | $980.0K |
| Free Cash FlowOCF − Capex | — | $-2.2M |
| FCF MarginFCF / Revenue | — | -2.4% |
| Capex IntensityCapex / Revenue | — | 3.5% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $16.9M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $63.9M | $980.0K | ||
| Q3 25 | $36.1M | $10.6M | ||
| Q2 25 | $6.0M | $13.6M | ||
| Q1 25 | $1.0M | $401.0K | ||
| Q4 24 | $60.9M | $12.4M | ||
| Q3 24 | $-14.5M | $5.6M | ||
| Q2 24 | $14.5M | $11.7M |
| Q1 26 | — | — | ||
| Q4 25 | $58.2M | $-2.2M | ||
| Q3 25 | $35.4M | $7.6M | ||
| Q2 25 | $4.5M | $11.9M | ||
| Q1 25 | $-727.0K | $-424.0K | ||
| Q4 24 | $55.4M | $11.6M | ||
| Q3 24 | $-16.2M | $4.5M | ||
| Q2 24 | $13.2M | $10.7M |
| Q1 26 | — | — | ||
| Q4 25 | 85.5% | -2.4% | ||
| Q3 25 | 54.1% | 8.8% | ||
| Q2 25 | 7.3% | 14.1% | ||
| Q1 25 | -1.2% | -0.5% | ||
| Q4 24 | 116.4% | 13.3% | ||
| Q3 24 | -36.0% | 5.4% | ||
| Q2 24 | 30.8% | 13.0% |
| Q1 26 | — | — | ||
| Q4 25 | 8.4% | 3.5% | ||
| Q3 25 | 1.1% | 3.4% | ||
| Q2 25 | 2.4% | 2.0% | ||
| Q1 25 | 2.9% | 1.0% | ||
| Q4 24 | 11.7% | 0.9% | ||
| Q3 24 | 3.8% | 1.3% | ||
| Q2 24 | 3.0% | 1.3% |
| Q1 26 | — | — | ||
| Q4 25 | 2.83× | — | ||
| Q3 25 | 1.70× | — | ||
| Q2 25 | 0.43× | — | ||
| Q1 25 | 0.14× | — | ||
| Q4 24 | 4.15× | — | ||
| Q3 24 | -1.11× | — | ||
| Q2 24 | 1.21× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CAC
| Net Interest Income | $52.4M | 81% |
| Noninterest Income | $12.0M | 19% |
CMRC
| Subscription And Circulation | $65.2M | 73% |
| Partner And Services | $24.4M | 27% |
