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Side-by-side financial comparison of Clarus Corp (CLAR) 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 $65.4M, roughly 1.4× Clarus Corp). Commerce.com, Inc. runs the higher net margin — -9.3% vs -47.8%, a 38.4% gap on every dollar of revenue. On growth, Commerce.com, Inc. posted the faster year-over-year revenue change (2.9% vs -8.4%). Clarus Corp produced more free cash flow last quarter ($11.6M vs $-2.2M). Over the past eight quarters, Commerce.com, Inc.'s revenue compounded faster (5.5% CAGR vs -2.9%).
Clarus Corp is a global designer, manufacturer, and distributor of high-performance outdoor recreation, climbing, camping, and lifestyle products. It manages a portfolio of leading consumer brands, serving outdoor enthusiasts, professional athletes, and retail partners across North America, Europe, and the Asia-Pacific region, with a focus on innovative, durable gear for active lifestyles.
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.
CLAR vs CMRC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $65.4M | $89.5M |
| Net Profit | $-31.3M | $-8.4M |
| Gross Margin | 27.7% | 78.3% |
| Operating Margin | -59.6% | -7.4% |
| Net Margin | -47.8% | -9.3% |
| Revenue YoY | -8.4% | 2.9% |
| Net Profit YoY | 52.3% | -250.0% |
| EPS (diluted) | $-0.81 | $-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.
| Q4 25 | $65.4M | $89.5M | ||
| Q3 25 | $69.3M | $86.0M | ||
| Q2 25 | $55.2M | $84.4M | ||
| Q1 25 | $60.4M | $82.4M | ||
| Q4 24 | $71.4M | $87.0M | ||
| Q3 24 | $67.1M | $83.7M | ||
| Q2 24 | $56.5M | $81.8M | ||
| Q1 24 | $69.3M | $80.4M |
| Q4 25 | $-31.3M | $-8.4M | ||
| Q3 25 | $-1.6M | $-2.2M | ||
| Q2 25 | $-8.4M | $-8.4M | ||
| Q1 25 | $-5.2M | $-353.0K | ||
| Q4 24 | $-65.5M | $-2.4M | ||
| Q3 24 | $-3.2M | $-7.0M | ||
| Q2 24 | $-5.5M | $-11.3M | ||
| Q1 24 | $21.9M | $-6.4M |
| Q4 25 | 27.7% | 78.3% | ||
| Q3 25 | 35.1% | 78.4% | ||
| Q2 25 | 35.6% | 79.0% | ||
| Q1 25 | 34.4% | 79.4% | ||
| Q4 24 | 33.4% | 77.6% | ||
| Q3 24 | 35.0% | 76.3% | ||
| Q2 24 | 36.1% | 75.8% | ||
| Q1 24 | 35.9% | 77.1% |
| Q4 25 | -59.6% | -7.4% | ||
| Q3 25 | -4.4% | -0.5% | ||
| Q2 25 | -19.7% | -8.0% | ||
| Q1 25 | -11.2% | -2.9% | ||
| Q4 24 | -70.2% | -0.9% | ||
| Q3 24 | -8.0% | -23.0% | ||
| Q2 24 | -14.4% | -16.5% | ||
| Q1 24 | -9.8% | -10.2% |
| Q4 25 | -47.8% | -9.3% | ||
| Q3 25 | -2.3% | -2.6% | ||
| Q2 25 | -15.3% | -9.9% | ||
| Q1 25 | -8.7% | -0.4% | ||
| Q4 24 | -91.8% | -2.7% | ||
| Q3 24 | -4.7% | -8.4% | ||
| Q2 24 | -9.7% | -13.8% | ||
| Q1 24 | 31.6% | -8.0% |
| Q4 25 | $-0.81 | $-0.11 | ||
| Q3 25 | $-0.04 | $-0.03 | ||
| Q2 25 | $-0.22 | $-0.10 | ||
| Q1 25 | $-0.14 | $0.00 | ||
| Q4 24 | $-1.72 | $-0.03 | ||
| Q3 24 | $-0.08 | $-0.09 | ||
| Q2 24 | $-0.14 | $-0.15 | ||
| Q1 24 | $0.57 | $-0.08 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $36.7M | $141.1M |
| Total DebtLower is stronger | $0 | $157.0M |
| Stockholders' EquityBook value | $196.4M | $39.4M |
| Total Assets | $249.0M | $308.8M |
| Debt / EquityLower = less leverage | 0.00× | 3.99× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $36.7M | $141.1M | ||
| Q3 25 | $29.5M | $142.0M | ||
| Q2 25 | $28.5M | $134.5M | ||
| Q1 25 | $41.3M | $120.7M | ||
| Q4 24 | $45.4M | $178.2M | ||
| Q3 24 | $36.4M | $168.4M | ||
| Q2 24 | $46.2M | $275.8M | ||
| Q1 24 | $47.5M | $265.2M |
| Q4 25 | $0 | $157.0M | ||
| Q3 25 | $2.0M | $157.3M | ||
| Q2 25 | $1.9M | $157.5M | ||
| Q1 25 | $1.9M | $157.8M | ||
| Q4 24 | $1.9M | $216.5M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $340.9M | ||
| Q1 24 | $37.0K | $340.5M |
| Q4 25 | $196.4M | $39.4M | ||
| Q3 25 | $225.8M | $42.8M | ||
| Q2 25 | $225.1M | $38.8M | ||
| Q1 25 | $229.3M | $38.1M | ||
| Q4 24 | $233.1M | $33.4M | ||
| Q3 24 | $308.5M | $29.0M | ||
| Q2 24 | $307.3M | $26.1M | ||
| Q1 24 | $310.4M | $26.9M |
| Q4 25 | $249.0M | $308.8M | ||
| Q3 25 | $283.1M | $309.5M | ||
| Q2 25 | $286.5M | $302.5M | ||
| Q1 25 | $292.8M | $286.3M | ||
| Q4 24 | $294.1M | $340.3M | ||
| Q3 24 | $375.3M | $335.1M | ||
| Q2 24 | $369.4M | $452.5M | ||
| Q1 24 | $377.0M | $442.5M |
| Q4 25 | 0.00× | 3.99× | ||
| Q3 25 | 0.01× | 3.67× | ||
| Q2 25 | 0.01× | 4.06× | ||
| Q1 25 | 0.01× | 4.14× | ||
| Q4 24 | 0.01× | 6.49× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 13.06× | ||
| Q1 24 | 0.00× | 12.65× |
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 | $12.5M | $980.0K |
| Free Cash FlowOCF − Capex | $11.6M | $-2.2M |
| FCF MarginFCF / Revenue | 17.7% | -2.4% |
| Capex IntensityCapex / Revenue | 1.4% | 3.5% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-9.9M | $16.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $12.5M | $980.0K | ||
| Q3 25 | $-5.7M | $10.6M | ||
| Q2 25 | $-9.4M | $13.6M | ||
| Q1 25 | $-2.1M | $401.0K | ||
| Q4 24 | $16.6M | $12.4M | ||
| Q3 24 | $-8.3M | $5.6M | ||
| Q2 24 | $834.0K | $11.7M | ||
| Q1 24 | $-16.4M | $-3.4M |
| Q4 25 | $11.6M | $-2.2M | ||
| Q3 25 | $-7.0M | $7.6M | ||
| Q2 25 | $-11.3M | $11.9M | ||
| Q1 25 | $-3.3M | $-424.0K | ||
| Q4 24 | $14.4M | $11.6M | ||
| Q3 24 | $-9.4M | $4.5M | ||
| Q2 24 | $-744.0K | $10.7M | ||
| Q1 24 | $-18.3M | $-4.2M |
| Q4 25 | 17.7% | -2.4% | ||
| Q3 25 | -10.0% | 8.8% | ||
| Q2 25 | -20.4% | 14.1% | ||
| Q1 25 | -5.4% | -0.5% | ||
| Q4 24 | 20.1% | 13.3% | ||
| Q3 24 | -14.0% | 5.4% | ||
| Q2 24 | -1.3% | 13.0% | ||
| Q1 24 | -26.3% | -5.3% |
| Q4 25 | 1.4% | 3.5% | ||
| Q3 25 | 1.8% | 3.4% | ||
| Q2 25 | 3.4% | 2.0% | ||
| Q1 25 | 2.0% | 1.0% | ||
| Q4 24 | 3.1% | 0.9% | ||
| Q3 24 | 1.6% | 1.3% | ||
| Q2 24 | 2.8% | 1.3% | ||
| Q1 24 | 2.7% | 1.0% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | -0.75× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CLAR
| Other | $37.1M | 57% |
| Outdoor Segment | $25.3M | 39% |
| Adventure Segment | $3.0M | 5% |
CMRC
| Subscription And Circulation | $65.2M | 73% |
| Partner And Services | $24.4M | 27% |
