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Side-by-side financial comparison of Commerce.com, Inc. (CMRC) and Globalstar, Inc. (GSAT). Click either name above to swap in a different company.
Commerce.com, Inc. is the larger business by last-quarter revenue ($89.5M vs $72.0M, roughly 1.2× Globalstar, Inc.). Commerce.com, Inc. runs the higher net margin — -9.3% vs -16.1%, a 6.8% gap on every dollar of revenue. On growth, Globalstar, Inc. posted the faster year-over-year revenue change (17.6% vs 2.9%). Over the past eight quarters, Globalstar, Inc.'s revenue compounded faster (12.9% 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.
Globalstar, Inc. is an American telecommunications company that operates a satellite constellation in low Earth orbit (LEO) for satellite phone, low-speed data transmission and Earth observation. The Globalstar second-generation constellation consists of 25 satellites.
CMRC vs GSAT — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $89.5M | $72.0M |
| Net Profit | $-8.4M | $-11.6M |
| Gross Margin | 78.3% | — |
| Operating Margin | -7.4% | -0.5% |
| Net Margin | -9.3% | -16.1% |
| Revenue YoY | 2.9% | 17.6% |
| Net Profit YoY | -250.0% | 76.9% |
| EPS (diluted) | $-0.11 | $-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 | $72.0M | ||
| Q3 25 | $86.0M | $73.8M | ||
| Q2 25 | $84.4M | $67.1M | ||
| Q1 25 | $82.4M | $60.0M | ||
| Q4 24 | $87.0M | $61.2M | ||
| Q3 24 | $83.7M | $72.3M | ||
| Q2 24 | $81.8M | $60.4M | ||
| Q1 24 | $80.4M | $56.5M |
| Q4 25 | $-8.4M | $-11.6M | ||
| Q3 25 | $-2.2M | $1.1M | ||
| Q2 25 | $-8.4M | $19.2M | ||
| Q1 25 | $-353.0K | $-17.3M | ||
| Q4 24 | $-2.4M | $-50.2M | ||
| Q3 24 | $-7.0M | $9.9M | ||
| Q2 24 | $-11.3M | $-9.7M | ||
| Q1 24 | $-6.4M | $-13.2M |
| 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 24 | 77.1% | — |
| Q4 25 | -7.4% | -0.5% | ||
| Q3 25 | -0.5% | 13.8% | ||
| Q2 25 | -8.0% | 9.2% | ||
| Q1 25 | -2.9% | -14.2% | ||
| Q4 24 | -0.9% | -6.9% | ||
| Q3 24 | -23.0% | 13.0% | ||
| Q2 24 | -16.5% | -2.4% | ||
| Q1 24 | -10.2% | -8.3% |
| Q4 25 | -9.3% | -16.1% | ||
| Q3 25 | -2.6% | 1.5% | ||
| Q2 25 | -9.9% | 28.6% | ||
| Q1 25 | -0.4% | -28.9% | ||
| Q4 24 | -2.7% | -82.1% | ||
| Q3 24 | -8.4% | 13.7% | ||
| Q2 24 | -13.8% | -16.0% | ||
| Q1 24 | -8.0% | -23.4% |
| Q4 25 | $-0.11 | $-0.11 | ||
| Q3 25 | $-0.03 | $-0.01 | ||
| Q2 25 | $-0.10 | $0.13 | ||
| Q1 25 | $0.00 | $-0.16 | ||
| Q4 24 | $-0.03 | $-0.57 | ||
| Q3 24 | $-0.09 | $0.00 | ||
| Q2 24 | $-0.15 | $-0.01 | ||
| Q1 24 | $-0.08 | $-0.01 |
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 | $447.5M |
| Total DebtLower is stronger | $157.0M | $483.8M |
| Stockholders' EquityBook value | $39.4M | $355.7M |
| Total Assets | $308.8M | $2.3B |
| Debt / EquityLower = less leverage | 3.99× | 1.36× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $141.1M | $447.5M | ||
| Q3 25 | $142.0M | $346.3M | ||
| Q2 25 | $134.5M | $308.2M | ||
| Q1 25 | $120.7M | $241.4M | ||
| Q4 24 | $178.2M | $391.2M | ||
| Q3 24 | $168.4M | $51.9M | ||
| Q2 24 | $275.8M | $64.3M | ||
| Q1 24 | $265.2M | $59.3M |
| Q4 25 | $157.0M | $483.8M | ||
| Q3 25 | $157.3M | $508.6M | ||
| Q2 25 | $157.5M | $491.5M | ||
| Q1 25 | $157.8M | $502.7M | ||
| Q4 24 | $216.5M | $511.4M | ||
| Q3 24 | — | $394.4M | ||
| Q2 24 | $340.9M | $393.1M | ||
| Q1 24 | $340.5M | $398.7M |
| Q4 25 | $39.4M | $355.7M | ||
| Q3 25 | $42.8M | $364.8M | ||
| Q2 25 | $38.8M | $360.9M | ||
| Q1 25 | $38.1M | $344.3M | ||
| Q4 24 | $33.4M | $358.9M | ||
| Q3 24 | $29.0M | $394.1M | ||
| Q2 24 | $26.1M | $383.0M | ||
| Q1 24 | $26.9M | $377.1M |
| Q4 25 | $308.8M | $2.3B | ||
| Q3 25 | $309.5M | $2.2B | ||
| Q2 25 | $302.5M | $1.9B | ||
| Q1 25 | $286.3M | $1.7B | ||
| Q4 24 | $340.3M | $1.7B | ||
| Q3 24 | $335.1M | $917.6M | ||
| Q2 24 | $452.5M | $926.2M | ||
| Q1 24 | $442.5M | $917.0M |
| Q4 25 | 3.99× | 1.36× | ||
| Q3 25 | 3.67× | 1.39× | ||
| Q2 25 | 4.06× | 1.36× | ||
| Q1 25 | 4.14× | 1.46× | ||
| Q4 24 | 6.49× | 1.43× | ||
| Q3 24 | — | 1.00× | ||
| Q2 24 | 13.06× | 1.03× | ||
| Q1 24 | 12.65× | 1.06× |
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 | $175.9M |
| 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.
| Q4 25 | $980.0K | $175.9M | ||
| Q3 25 | $10.6M | $236.0M | ||
| Q2 25 | $13.6M | $157.9M | ||
| Q1 25 | $401.0K | $51.9M | ||
| Q4 24 | $12.4M | $340.7M | ||
| Q3 24 | $5.6M | $32.0M | ||
| Q2 24 | $11.7M | $36.7M | ||
| Q1 24 | $-3.4M | $29.8M |
| Q4 25 | $-2.2M | — | ||
| Q3 25 | $7.6M | — | ||
| Q2 25 | $11.9M | — | ||
| Q1 25 | $-424.0K | — | ||
| Q4 24 | $11.6M | — | ||
| Q3 24 | $4.5M | — | ||
| Q2 24 | $10.7M | — | ||
| Q1 24 | $-4.2M | — |
| Q4 25 | -2.4% | — | ||
| Q3 25 | 8.8% | — | ||
| Q2 25 | 14.1% | — | ||
| Q1 25 | -0.5% | — | ||
| Q4 24 | 13.3% | — | ||
| Q3 24 | 5.4% | — | ||
| Q2 24 | 13.0% | — | ||
| Q1 24 | -5.3% | — |
| Q4 25 | 3.5% | — | ||
| Q3 25 | 3.4% | — | ||
| Q2 25 | 2.0% | — | ||
| Q1 25 | 1.0% | — | ||
| Q4 24 | 0.9% | — | ||
| Q3 24 | 1.3% | — | ||
| Q2 24 | 1.3% | — | ||
| Q1 24 | 1.0% | — |
| Q4 25 | — | — | ||
| Q3 25 | — | 216.53× | ||
| Q2 25 | — | 8.22× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 3.23× | ||
| 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% |
GSAT
| Services | $67.4M | 94% |
| Products | $4.6M | 6% |
