vs
Side-by-side financial comparison of Commerce.com, Inc. (CMRC) and Cytek Biosciences, Inc. (CTKB). Click either name above to swap in a different company.
Commerce.com, Inc. is the larger business by last-quarter revenue ($89.5M vs $62.1M, roughly 1.4× Cytek Biosciences, Inc.). Commerce.com, Inc. runs the higher net margin — -9.3% vs -70.9%, a 61.6% gap on every dollar of revenue. On growth, Cytek Biosciences, Inc. posted the faster year-over-year revenue change (8.1% vs 2.9%). Cytek Biosciences, Inc. produced more free cash flow last quarter ($-1.8M vs $-2.2M). Over the past eight quarters, Cytek Biosciences, Inc.'s revenue compounded faster (17.7% CAGR vs 5.5%).
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.
Cytek Biosciences, Inc. develops, manufactures and sells high-performance flow cytometry systems, associated reagents and analysis software. Its solutions serve life science research, clinical diagnostics and biopharmaceutical sectors, with a global customer base across North America, Europe and the Asia-Pacific region.
CMRC vs CTKB — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $89.5M | $62.1M |
| Net Profit | $-8.4M | $-44.1M |
| Gross Margin | 78.3% | 52.9% |
| Operating Margin | -7.4% | -9.0% |
| Net Margin | -9.3% | -70.9% |
| Revenue YoY | 2.9% | 8.1% |
| Net Profit YoY | -250.0% | -557.1% |
| EPS (diluted) | $-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 | $89.5M | $62.1M | ||
| Q3 25 | $86.0M | $52.3M | ||
| Q2 25 | $84.4M | $45.6M | ||
| Q1 25 | $82.4M | $41.5M | ||
| Q4 24 | $87.0M | $57.5M | ||
| Q3 24 | $83.7M | $51.5M | ||
| Q2 24 | $81.8M | $46.6M | ||
| Q1 24 | $80.4M | $44.9M |
| Q4 25 | $-8.4M | $-44.1M | ||
| Q3 25 | $-2.2M | $-5.5M | ||
| Q2 25 | $-8.4M | $-5.6M | ||
| Q1 25 | $-353.0K | $-11.4M | ||
| Q4 24 | $-2.4M | $9.6M | ||
| Q3 24 | $-7.0M | $941.0K | ||
| Q2 24 | $-11.3M | $-10.4M | ||
| Q1 24 | $-6.4M | $-6.2M |
| Q4 25 | 78.3% | 52.9% | ||
| Q3 25 | 78.4% | 52.7% | ||
| Q2 25 | 79.0% | 52.3% | ||
| Q1 25 | 79.4% | 48.6% | ||
| Q4 24 | 77.6% | 58.5% | ||
| Q3 24 | 76.3% | 56.3% | ||
| Q2 24 | 75.8% | 54.6% | ||
| Q1 24 | 77.1% | 51.3% |
| Q4 25 | -7.4% | -9.0% | ||
| Q3 25 | -0.5% | -17.6% | ||
| Q2 25 | -8.0% | -23.3% | ||
| Q1 25 | -2.9% | -36.1% | ||
| Q4 24 | -0.9% | 5.2% | ||
| Q3 24 | -23.0% | -8.2% | ||
| Q2 24 | -16.5% | -18.3% | ||
| Q1 24 | -10.2% | -23.9% |
| Q4 25 | -9.3% | -70.9% | ||
| Q3 25 | -2.6% | -10.5% | ||
| Q2 25 | -9.9% | -12.2% | ||
| Q1 25 | -0.4% | -27.5% | ||
| Q4 24 | -2.7% | 16.8% | ||
| Q3 24 | -8.4% | 1.8% | ||
| Q2 24 | -13.8% | -22.4% | ||
| Q1 24 | -8.0% | -13.8% |
| Q4 25 | $-0.11 | — | ||
| Q3 25 | $-0.03 | — | ||
| Q2 25 | $-0.10 | — | ||
| Q1 25 | $0.00 | — | ||
| Q4 24 | $-0.03 | — | ||
| Q3 24 | $-0.09 | — | ||
| Q2 24 | $-0.15 | — | ||
| Q1 24 | $-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 | $141.1M | $90.9M |
| Total DebtLower is stronger | $157.0M | — |
| Stockholders' EquityBook value | $39.4M | $341.7M |
| Total Assets | $308.8M | $461.5M |
| Debt / EquityLower = less leverage | 3.99× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $141.1M | $90.9M | ||
| Q3 25 | $142.0M | $93.3M | ||
| Q2 25 | $134.5M | $75.5M | ||
| Q1 25 | $120.7M | $95.3M | ||
| Q4 24 | $178.2M | $98.7M | ||
| Q3 24 | $168.4M | $162.3M | ||
| Q2 24 | $275.8M | $177.9M | ||
| Q1 24 | $265.2M | $168.8M |
| 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 24 | $340.5M | — |
| Q4 25 | $39.4M | $341.7M | ||
| Q3 25 | $42.8M | $378.6M | ||
| Q2 25 | $38.8M | $377.6M | ||
| Q1 25 | $38.1M | $379.6M | ||
| Q4 24 | $33.4M | $395.7M | ||
| Q3 24 | $29.0M | $385.5M | ||
| Q2 24 | $26.1M | $389.1M | ||
| Q1 24 | $26.9M | $392.6M |
| Q4 25 | $308.8M | $461.5M | ||
| Q3 25 | $309.5M | $494.9M | ||
| Q2 25 | $302.5M | $493.3M | ||
| Q1 25 | $286.3M | $482.6M | ||
| Q4 24 | $340.3M | $499.5M | ||
| Q3 24 | $335.1M | $491.2M | ||
| Q2 24 | $452.5M | $483.7M | ||
| Q1 24 | $442.5M | $492.1M |
| 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× | — | ||
| Q1 24 | 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 | $980.0K | $-771.0K |
| Free Cash FlowOCF − Capex | $-2.2M | $-1.8M |
| FCF MarginFCF / Revenue | -2.4% | -2.9% |
| Capex IntensityCapex / Revenue | 3.5% | 1.6% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $16.9M | $-8.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $980.0K | $-771.0K | ||
| Q3 25 | $10.6M | $-3.9M | ||
| Q2 25 | $13.6M | $108.0K | ||
| Q1 25 | $401.0K | $-125.0K | ||
| Q4 24 | $12.4M | $2.0M | ||
| Q3 24 | $5.6M | $13.2M | ||
| Q2 24 | $11.7M | $6.2M | ||
| Q1 24 | $-3.4M | $4.0M |
| Q4 25 | $-2.2M | $-1.8M | ||
| Q3 25 | $7.6M | $-4.6M | ||
| Q2 25 | $11.9M | $-1.5M | ||
| Q1 25 | $-424.0K | $-974.0K | ||
| Q4 24 | $11.6M | $1.1M | ||
| Q3 24 | $4.5M | $12.2M | ||
| Q2 24 | $10.7M | $5.2M | ||
| Q1 24 | $-4.2M | $3.4M |
| Q4 25 | -2.4% | -2.9% | ||
| Q3 25 | 8.8% | -8.7% | ||
| Q2 25 | 14.1% | -3.2% | ||
| Q1 25 | -0.5% | -2.3% | ||
| Q4 24 | 13.3% | 1.9% | ||
| Q3 24 | 5.4% | 23.7% | ||
| Q2 24 | 13.0% | 11.0% | ||
| Q1 24 | -5.3% | 7.6% |
| Q4 25 | 3.5% | 1.6% | ||
| Q3 25 | 3.4% | 1.3% | ||
| Q2 25 | 2.0% | 3.5% | ||
| Q1 25 | 1.0% | 2.0% | ||
| Q4 24 | 0.9% | 1.6% | ||
| Q3 24 | 1.3% | 2.0% | ||
| Q2 24 | 1.3% | 2.3% | ||
| Q1 24 | 1.0% | 1.3% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.21× | ||
| Q3 24 | — | 14.05× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CMRC
| Subscription And Circulation | $65.2M | 73% |
| Partner And Services | $24.4M | 27% |
CTKB
| Products | $46.6M | 75% |
| Services | $15.5M | 25% |
