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Side-by-side financial comparison of Commerce.com, Inc. (CMRC) and FIRSTSUN CAPITAL BANCORP (FSUN). Click either name above to swap in a different company.
FIRSTSUN CAPITAL BANCORP is the larger business by last-quarter revenue ($110.0M vs $89.5M, roughly 1.2× Commerce.com, Inc.). FIRSTSUN CAPITAL BANCORP runs the higher net margin — 19.6% vs -9.3%, a 29.0% gap on every dollar of revenue. Over the past eight quarters, FIRSTSUN CAPITAL BANCORP's revenue compounded faster (6.9% 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.
FirstSun Capital Bancorp is a U.S.-headquartered financial holding company that offers a comprehensive range of banking and financial services, including commercial and consumer lending, deposit products, wealth management, and treasury solutions. It mainly serves individual customers, small and medium-sized enterprises, and corporate clients across U.S. regional markets.
CMRC vs FSUN — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $89.5M | $110.0M |
| Net Profit | $-8.4M | $21.6M |
| Gross Margin | 78.3% | — |
| Operating Margin | -7.4% | — |
| Net Margin | -9.3% | 19.6% |
| Revenue YoY | 2.9% | — |
| Net Profit YoY | -250.0% | -8.4% |
| EPS (diluted) | $-0.11 | $0.76 |
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 | — | $110.0M | ||
| Q4 25 | $89.5M | $110.2M | ||
| Q3 25 | $86.0M | $107.3M | ||
| Q2 25 | $84.4M | $105.6M | ||
| Q1 25 | $82.4M | $96.2M | ||
| Q4 24 | $87.0M | $98.7M | ||
| Q3 24 | $83.7M | $98.2M | ||
| Q2 24 | $81.8M | $96.2M |
| Q1 26 | — | $21.6M | ||
| Q4 25 | $-8.4M | $24.8M | ||
| Q3 25 | $-2.2M | $23.2M | ||
| Q2 25 | $-8.4M | $26.4M | ||
| Q1 25 | $-353.0K | $23.6M | ||
| Q4 24 | $-2.4M | $16.4M | ||
| Q3 24 | $-7.0M | $22.4M | ||
| Q2 24 | $-11.3M | $24.6M |
| 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% | 29.0% | ||
| Q3 25 | -0.5% | 26.4% | ||
| Q2 25 | -8.0% | 31.2% | ||
| Q1 25 | -2.9% | 30.9% | ||
| Q4 24 | -0.9% | 20.4% | ||
| Q3 24 | -23.0% | 29.1% | ||
| Q2 24 | -16.5% | 32.3% |
| Q1 26 | — | 19.6% | ||
| Q4 25 | -9.3% | 22.5% | ||
| Q3 25 | -2.6% | 21.6% | ||
| Q2 25 | -9.9% | 25.0% | ||
| Q1 25 | -0.4% | 24.5% | ||
| Q4 24 | -2.7% | 16.6% | ||
| Q3 24 | -8.4% | 22.8% | ||
| Q2 24 | -13.8% | 25.5% |
| Q1 26 | — | $0.76 | ||
| Q4 25 | $-0.11 | $0.89 | ||
| Q3 25 | $-0.03 | $0.82 | ||
| Q2 25 | $-0.10 | $0.93 | ||
| Q1 25 | $0.00 | $0.83 | ||
| Q4 24 | $-0.03 | $0.57 | ||
| Q3 24 | $-0.09 | $0.79 | ||
| Q2 24 | $-0.15 | $0.88 |
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 | $413.7M |
| Total DebtLower is stronger | $157.0M | — |
| Stockholders' EquityBook value | $39.4M | $1.2B |
| Total Assets | $308.8M | $8.6B |
| Debt / EquityLower = less leverage | 3.99× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $413.7M | ||
| Q4 25 | $141.1M | $652.6M | ||
| Q3 25 | $142.0M | $659.9M | ||
| Q2 25 | $134.5M | $785.1M | ||
| Q1 25 | $120.7M | $621.4M | ||
| Q4 24 | $178.2M | $615.9M | ||
| Q3 24 | $168.4M | $573.7M | ||
| Q2 24 | $275.8M | $535.8M |
| Q1 26 | — | — | ||
| 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 | — | $1.2B | ||
| Q4 25 | $39.4M | $1.2B | ||
| Q3 25 | $42.8M | $1.1B | ||
| Q2 25 | $38.8M | $1.1B | ||
| Q1 25 | $38.1M | $1.1B | ||
| Q4 24 | $33.4M | $1.0B | ||
| Q3 24 | $29.0M | $1.0B | ||
| Q2 24 | $26.1M | $996.6M |
| Q1 26 | — | $8.6B | ||
| Q4 25 | $308.8M | $8.5B | ||
| Q3 25 | $309.5M | $8.5B | ||
| Q2 25 | $302.5M | $8.4B | ||
| Q1 25 | $286.3M | $8.2B | ||
| Q4 24 | $340.3M | $8.1B | ||
| Q3 24 | $335.1M | $8.1B | ||
| Q2 24 | $452.5M | $8.0B |
| Q1 26 | — | — | ||
| 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 | $980.0K | $111.5M | ||
| Q3 25 | $10.6M | $49.4M | ||
| Q2 25 | $13.6M | $15.0M | ||
| Q1 25 | $401.0K | $26.4M | ||
| Q4 24 | $12.4M | $101.1M | ||
| Q3 24 | $5.6M | $48.1M | ||
| Q2 24 | $11.7M | $20.9M |
| Q1 26 | — | — | ||
| Q4 25 | $-2.2M | $104.0M | ||
| Q3 25 | $7.6M | $47.6M | ||
| Q2 25 | $11.9M | $13.0M | ||
| Q1 25 | $-424.0K | $24.3M | ||
| Q4 24 | $11.6M | $95.7M | ||
| Q3 24 | $4.5M | $47.1M | ||
| Q2 24 | $10.7M | $19.9M |
| Q1 26 | — | — | ||
| Q4 25 | -2.4% | 94.3% | ||
| Q3 25 | 8.8% | 44.4% | ||
| Q2 25 | 14.1% | 12.3% | ||
| Q1 25 | -0.5% | 25.3% | ||
| Q4 24 | 13.3% | 97.0% | ||
| Q3 24 | 5.4% | 47.9% | ||
| Q2 24 | 13.0% | 20.6% |
| Q1 26 | — | — | ||
| Q4 25 | 3.5% | 6.8% | ||
| Q3 25 | 3.4% | 1.6% | ||
| Q2 25 | 2.0% | 1.9% | ||
| Q1 25 | 1.0% | 2.1% | ||
| Q4 24 | 0.9% | 5.5% | ||
| Q3 24 | 1.3% | 1.1% | ||
| Q2 24 | 1.3% | 1.1% |
| Q1 26 | — | — | ||
| Q4 25 | — | 4.49× | ||
| Q3 25 | — | 2.13× | ||
| Q2 25 | — | 0.57× | ||
| Q1 25 | — | 1.12× | ||
| Q4 24 | — | 6.18× | ||
| Q3 24 | — | 2.15× | ||
| Q2 24 | — | 0.85× |
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% |
FSUN
| Net Interest Income | $82.8M | 75% |
| Noninterest Income | $27.2M | 25% |
