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Side-by-side financial comparison of Commerce.com, Inc. (CMRC) and FIRST COMMONWEALTH FINANCIAL CORP (FCF). Click either name above to swap in a different company.
FIRST COMMONWEALTH FINANCIAL CORP is the larger business by last-quarter revenue ($133.7M vs $89.5M, roughly 1.5× Commerce.com, Inc.). FIRST COMMONWEALTH FINANCIAL CORP runs the higher net margin — 28.1% vs -9.3%, a 37.4% gap on every dollar of revenue. On growth, FIRST COMMONWEALTH FINANCIAL CORP posted the faster year-over-year revenue change (13.0% vs 2.9%). Over the past eight quarters, Commerce.com, Inc.'s revenue compounded faster (5.5% 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.
First Commonwealth Financial Corp is a Pennsylvania-based regional financial services holding company. It offers consumer and commercial banking products, loans, wealth management, and insurance services for individuals, small and mid-sized enterprises across central and western Pennsylvania and Ohio.
CMRC vs FCF — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $89.5M | $133.7M |
| Net Profit | $-8.4M | $37.5M |
| Gross Margin | 78.3% | — |
| Operating Margin | -7.4% | — |
| Net Margin | -9.3% | 28.1% |
| Revenue YoY | 2.9% | 13.0% |
| Net Profit YoY | -250.0% | 14.8% |
| EPS (diluted) | $-0.11 | $0.37 |
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 | — | $133.7M | ||
| Q4 25 | $89.5M | $137.9M | ||
| Q3 25 | $86.0M | $136.0M | ||
| Q2 25 | $84.4M | $131.0M | ||
| Q1 25 | $82.4M | $118.0M | ||
| Q4 24 | $87.0M | $120.4M | ||
| Q3 24 | $83.7M | $121.2M | ||
| Q2 24 | $81.8M | $120.2M |
| Q1 26 | — | $37.5M | ||
| Q4 25 | $-8.4M | $44.9M | ||
| Q3 25 | $-2.2M | $41.3M | ||
| Q2 25 | $-8.4M | $33.4M | ||
| Q1 25 | $-353.0K | $32.7M | ||
| Q4 24 | $-2.4M | $35.8M | ||
| Q3 24 | $-7.0M | $32.1M | ||
| Q2 24 | $-11.3M | $37.1M |
| 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 | -7.4% | 40.9% | ||
| Q3 25 | -0.5% | 38.1% | ||
| Q2 25 | -8.0% | 32.1% | ||
| Q1 25 | -2.9% | 34.8% | ||
| Q4 24 | -0.9% | 37.1% | ||
| Q3 24 | -23.0% | 33.4% | ||
| Q2 24 | -16.5% | 38.7% |
| Q1 26 | — | 28.1% | ||
| Q4 25 | -9.3% | 32.5% | ||
| Q3 25 | -2.6% | 30.4% | ||
| Q2 25 | -9.9% | 25.5% | ||
| Q1 25 | -0.4% | 27.7% | ||
| Q4 24 | -2.7% | 29.8% | ||
| Q3 24 | -8.4% | 26.5% | ||
| Q2 24 | -13.8% | 30.9% |
| Q1 26 | — | $0.37 | ||
| Q4 25 | $-0.11 | $0.44 | ||
| Q3 25 | $-0.03 | $0.39 | ||
| Q2 25 | $-0.10 | $0.32 | ||
| Q1 25 | $0.00 | $0.32 | ||
| Q4 24 | $-0.03 | $0.35 | ||
| Q3 24 | $-0.09 | $0.31 | ||
| Q2 24 | $-0.15 | $0.36 |
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 | $157.0M | $154.9M |
| Stockholders' EquityBook value | $39.4M | $1.6B |
| Total Assets | $308.8M | $12.3B |
| Debt / EquityLower = less leverage | 3.99× | 0.10× |
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 | — | $154.9M | ||
| Q4 25 | $157.0M | $261.7M | ||
| Q3 25 | $157.3M | $262.1M | ||
| Q2 25 | $157.5M | $262.4M | ||
| Q1 25 | $157.8M | $262.7M | ||
| Q4 24 | $216.5M | $263.0M | ||
| Q3 24 | — | $136.3M | ||
| Q2 24 | $340.9M | $136.6M |
| Q1 26 | — | $1.6B | ||
| Q4 25 | $39.4M | $1.6B | ||
| Q3 25 | $42.8M | $1.5B | ||
| Q2 25 | $38.8M | $1.5B | ||
| Q1 25 | $38.1M | $1.4B | ||
| Q4 24 | $33.4M | $1.4B | ||
| Q3 24 | $29.0M | $1.4B | ||
| Q2 24 | $26.1M | $1.4B |
| Q1 26 | — | $12.3B | ||
| Q4 25 | $308.8M | $12.3B | ||
| Q3 25 | $309.5M | $12.3B | ||
| Q2 25 | $302.5M | $12.2B | ||
| Q1 25 | $286.3M | $11.8B | ||
| Q4 24 | $340.3M | $11.6B | ||
| Q3 24 | $335.1M | $12.0B | ||
| Q2 24 | $452.5M | $11.6B |
| Q1 26 | — | 0.10× | ||
| Q4 25 | 3.99× | 0.17× | ||
| Q3 25 | 3.67× | 0.17× | ||
| Q2 25 | 4.06× | 0.17× | ||
| Q1 25 | 4.14× | 0.18× | ||
| Q4 24 | 6.49× | 0.19× | ||
| Q3 24 | — | 0.10× | ||
| Q2 24 | 13.06× | 0.10× |
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 | $980.0K | $187.5M | ||
| Q3 25 | $10.6M | $49.5M | ||
| Q2 25 | $13.6M | $30.4M | ||
| Q1 25 | $401.0K | $55.9M | ||
| Q4 24 | $12.4M | $129.5M | ||
| Q3 24 | $5.6M | $53.6M | ||
| Q2 24 | $11.7M | $22.7M |
| Q1 26 | — | — | ||
| Q4 25 | $-2.2M | $171.5M | ||
| Q3 25 | $7.6M | — | ||
| Q2 25 | $11.9M | — | ||
| Q1 25 | $-424.0K | — | ||
| Q4 24 | $11.6M | $113.9M | ||
| Q3 24 | $4.5M | — | ||
| Q2 24 | $10.7M | — |
| Q1 26 | — | — | ||
| Q4 25 | -2.4% | 124.3% | ||
| Q3 25 | 8.8% | — | ||
| Q2 25 | 14.1% | — | ||
| Q1 25 | -0.5% | — | ||
| Q4 24 | 13.3% | 94.6% | ||
| Q3 24 | 5.4% | — | ||
| Q2 24 | 13.0% | — |
| Q1 26 | — | — | ||
| Q4 25 | 3.5% | 11.7% | ||
| Q3 25 | 3.4% | — | ||
| Q2 25 | 2.0% | — | ||
| Q1 25 | 1.0% | — | ||
| Q4 24 | 0.9% | 12.9% | ||
| Q3 24 | 1.3% | — | ||
| Q2 24 | 1.3% | — |
| Q1 26 | — | — | ||
| Q4 25 | — | 4.18× | ||
| Q3 25 | — | 1.20× | ||
| Q2 25 | — | 0.91× | ||
| Q1 25 | — | 1.71× | ||
| Q4 24 | — | 3.61× | ||
| Q3 24 | — | 1.67× | ||
| Q2 24 | — | 0.61× |
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% |
FCF
Segment breakdown not available.
