vs
Side-by-side financial comparison of Commerce.com, Inc. (CMRC) and IMAX CORP (IMAX). Click either name above to swap in a different company.
IMAX CORP is the larger business by last-quarter revenue ($125.2M vs $89.5M, roughly 1.4× Commerce.com, Inc.). IMAX CORP runs the higher net margin — 0.5% vs -9.3%, a 9.9% gap on every dollar of revenue. On growth, IMAX CORP posted the faster year-over-year revenue change (35.1% vs 2.9%). IMAX CORP produced more free cash flow last quarter ($28.0M vs $-2.2M). Over the past eight quarters, IMAX CORP's revenue compounded faster (25.8% 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.
IMAX Corporation is a Canadian production theatre company which designs and manufactures IMAX cameras and projection systems as well as performing film development, production, post-production and distribution to IMAX-affiliated theatres worldwide. Founded in Montreal in 1967, it has headquarters in the Toronto area, and operations in New York City and Los Angeles.
CMRC vs IMAX — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $89.5M | $125.2M |
| Net Profit | $-8.4M | $637.0K |
| Gross Margin | 78.3% | 57.6% |
| Operating Margin | -7.4% | 19.3% |
| Net Margin | -9.3% | 0.5% |
| Revenue YoY | 2.9% | 35.1% |
| Net Profit YoY | -250.0% | -88.0% |
| EPS (diluted) | $-0.11 | $0.02 |
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 | $125.2M | ||
| Q3 25 | $86.0M | $106.7M | ||
| Q2 25 | $84.4M | $91.7M | ||
| Q1 25 | $82.4M | $86.7M | ||
| Q4 24 | $87.0M | $92.7M | ||
| Q3 24 | $83.7M | $91.5M | ||
| Q2 24 | $81.8M | $89.0M | ||
| Q1 24 | $80.4M | $79.1M |
| Q4 25 | $-8.4M | $637.0K | ||
| Q3 25 | $-2.2M | $20.7M | ||
| Q2 25 | $-8.4M | $11.3M | ||
| Q1 25 | $-353.0K | $2.3M | ||
| Q4 24 | $-2.4M | $5.3M | ||
| Q3 24 | $-7.0M | $13.9M | ||
| Q2 24 | $-11.3M | $3.6M | ||
| Q1 24 | $-6.4M | $3.3M |
| Q4 25 | 78.3% | 57.6% | ||
| Q3 25 | 78.4% | 63.1% | ||
| Q2 25 | 79.0% | 58.5% | ||
| Q1 25 | 79.4% | 61.4% | ||
| Q4 24 | 77.6% | 52.2% | ||
| Q3 24 | 76.3% | 55.8% | ||
| Q2 24 | 75.8% | 49.4% | ||
| Q1 24 | 77.1% | 59.3% |
| Q4 25 | -7.4% | 19.3% | ||
| Q3 25 | -0.5% | 27.2% | ||
| Q2 25 | -8.0% | 15.6% | ||
| Q1 25 | -2.9% | 19.3% | ||
| Q4 24 | -0.9% | 10.3% | ||
| Q3 24 | -23.0% | 21.2% | ||
| Q2 24 | -16.5% | 3.2% | ||
| Q1 24 | -10.2% | 15.3% |
| Q4 25 | -9.3% | 0.5% | ||
| Q3 25 | -2.6% | 19.4% | ||
| Q2 25 | -9.9% | 12.3% | ||
| Q1 25 | -0.4% | 2.7% | ||
| Q4 24 | -2.7% | 5.7% | ||
| Q3 24 | -8.4% | 15.2% | ||
| Q2 24 | -13.8% | 4.0% | ||
| Q1 24 | -8.0% | 4.1% |
| Q4 25 | $-0.11 | $0.02 | ||
| Q3 25 | $-0.03 | $0.37 | ||
| Q2 25 | $-0.10 | $0.20 | ||
| Q1 25 | $0.00 | $0.04 | ||
| Q4 24 | $-0.03 | $0.09 | ||
| Q3 24 | $-0.09 | $0.26 | ||
| Q2 24 | $-0.15 | $0.07 | ||
| Q1 24 | $-0.08 | $0.06 |
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 | $151.2M |
| Total DebtLower is stronger | $157.0M | — |
| Stockholders' EquityBook value | $39.4M | $337.9M |
| Total Assets | $308.8M | $894.0M |
| Debt / EquityLower = less leverage | 3.99× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $141.1M | $151.2M | ||
| Q3 25 | $142.0M | $143.1M | ||
| Q2 25 | $134.5M | $109.3M | ||
| Q1 25 | $120.7M | $97.1M | ||
| Q4 24 | $178.2M | $100.6M | ||
| Q3 24 | $168.4M | $104.5M | ||
| Q2 24 | $275.8M | $91.6M | ||
| Q1 24 | $265.2M | $81.0M |
| 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 | $337.9M | ||
| Q3 25 | $42.8M | $349.5M | ||
| Q2 25 | $38.8M | $320.4M | ||
| Q1 25 | $38.1M | $299.5M | ||
| Q4 24 | $33.4M | $299.5M | ||
| Q3 24 | $29.0M | $289.4M | ||
| Q2 24 | $26.1M | $267.2M | ||
| Q1 24 | $26.9M | $258.8M |
| Q4 25 | $308.8M | $894.0M | ||
| Q3 25 | $309.5M | $889.6M | ||
| Q2 25 | $302.5M | $868.6M | ||
| Q1 25 | $286.3M | $848.3M | ||
| Q4 24 | $340.3M | $830.4M | ||
| Q3 24 | $335.1M | $847.6M | ||
| Q2 24 | $452.5M | $827.4M | ||
| Q1 24 | $442.5M | $824.1M |
| 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 | $29.4M |
| Free Cash FlowOCF − Capex | $-2.2M | $28.0M |
| FCF MarginFCF / Revenue | -2.4% | 22.3% |
| Capex IntensityCapex / Revenue | 3.5% | 1.1% |
| Cash ConversionOCF / Net Profit | — | 46.11× |
| TTM Free Cash FlowTrailing 4 quarters | $16.9M | $118.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $980.0K | $29.4M | ||
| Q3 25 | $10.6M | $67.5M | ||
| Q2 25 | $13.6M | $23.2M | ||
| Q1 25 | $401.0K | $7.0M | ||
| Q4 24 | $12.4M | $11.5M | ||
| Q3 24 | $5.6M | $35.3M | ||
| Q2 24 | $11.7M | $35.0M | ||
| Q1 24 | $-3.4M | $-11.0M |
| Q4 25 | $-2.2M | $28.0M | ||
| Q3 25 | $7.6M | $64.8M | ||
| Q2 25 | $11.9M | $20.9M | ||
| Q1 25 | $-424.0K | $5.3M | ||
| Q4 24 | $11.6M | $6.9M | ||
| Q3 24 | $4.5M | $34.2M | ||
| Q2 24 | $10.7M | $33.5M | ||
| Q1 24 | $-4.2M | $-12.1M |
| Q4 25 | -2.4% | 22.3% | ||
| Q3 25 | 8.8% | 60.7% | ||
| Q2 25 | 14.1% | 22.8% | ||
| Q1 25 | -0.5% | 6.1% | ||
| Q4 24 | 13.3% | 7.4% | ||
| Q3 24 | 5.4% | 37.3% | ||
| Q2 24 | 13.0% | 37.6% | ||
| Q1 24 | -5.3% | -15.3% |
| Q4 25 | 3.5% | 1.1% | ||
| Q3 25 | 3.4% | 2.6% | ||
| Q2 25 | 2.0% | 2.6% | ||
| Q1 25 | 1.0% | 1.9% | ||
| Q4 24 | 0.9% | 5.0% | ||
| Q3 24 | 1.3% | 1.2% | ||
| Q2 24 | 1.3% | 1.8% | ||
| Q1 24 | 1.0% | 1.4% |
| Q4 25 | — | 46.11× | ||
| Q3 25 | — | 3.27× | ||
| Q2 25 | — | 2.06× | ||
| Q1 25 | — | 2.99× | ||
| Q4 24 | — | 2.16× | ||
| Q3 24 | — | 2.54× | ||
| Q2 24 | — | 9.78× | ||
| Q1 24 | — | -3.35× |
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% |
IMAX
| Technology Sales | $46.6M | 37% |
| Image Enhancement And Maintenance Services | $38.1M | 30% |
| Joint Revenue Sharing Arrangement | $20.4M | 16% |
| Maintenance | $16.3M | 13% |
| Finance Income | $2.8M | 2% |
| Other Content Solutions | $1.6M | 1% |
