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Side-by-side financial comparison of Commerce.com, Inc. (CMRC) and InvenTrust Properties Corp. (IVT). Click either name above to swap in a different company.
Commerce.com, Inc. is the larger business by last-quarter revenue ($89.5M vs $77.4M, roughly 1.2× InvenTrust Properties Corp.). InvenTrust Properties Corp. runs the higher net margin — 3.4% vs -9.3%, a 12.8% gap on every dollar of revenue. On growth, InvenTrust Properties Corp. posted the faster year-over-year revenue change (8.6% vs 2.9%). InvenTrust Properties Corp. produced more free cash flow last quarter ($110.9M vs $-2.2M). Over the past eight quarters, InvenTrust Properties Corp.'s revenue compounded faster (7.6% 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.
InvenTrust Properties Corp. is a real estate investment trust that invests in shopping malls. As of December 31, 2024, the company owned interests in 68 properties comprising 11.0 million square feet.
CMRC vs IVT — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $89.5M | $77.4M |
| Net Profit | $-8.4M | $2.7M |
| Gross Margin | 78.3% | — |
| Operating Margin | -7.4% | -11.0% |
| Net Margin | -9.3% | 3.4% |
| Revenue YoY | 2.9% | 8.6% |
| Net Profit YoY | -250.0% | -72.8% |
| 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 | $77.4M | ||
| Q3 25 | $86.0M | $74.5M | ||
| Q2 25 | $84.4M | $73.6M | ||
| Q1 25 | $82.4M | $73.8M | ||
| Q4 24 | $87.0M | $71.2M | ||
| Q3 24 | $83.7M | $68.5M | ||
| Q2 24 | $81.8M | $67.4M | ||
| Q1 24 | $80.4M | $66.8M |
| Q4 25 | $-8.4M | $2.7M | ||
| Q3 25 | $-2.2M | $6.0M | ||
| Q2 25 | $-8.4M | $95.9M | ||
| Q1 25 | $-353.0K | $6.8M | ||
| Q4 24 | $-2.4M | $9.8M | ||
| Q3 24 | $-7.0M | $-539.0K | ||
| Q2 24 | $-11.3M | $1.5M | ||
| Q1 24 | $-6.4M | $2.9M |
| 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% | -11.0% | ||
| Q3 25 | -0.5% | -9.8% | ||
| Q2 25 | -8.0% | — | ||
| Q1 25 | -2.9% | -10.5% | ||
| Q4 24 | -0.9% | -3.6% | ||
| Q3 24 | -23.0% | -18.7% | ||
| Q2 24 | -16.5% | -13.6% | ||
| Q1 24 | -10.2% | -13.1% |
| Q4 25 | -9.3% | 3.4% | ||
| Q3 25 | -2.6% | 8.1% | ||
| Q2 25 | -9.9% | 130.4% | ||
| Q1 25 | -0.4% | 9.2% | ||
| Q4 24 | -2.7% | 13.8% | ||
| Q3 24 | -8.4% | -0.8% | ||
| Q2 24 | -13.8% | 2.2% | ||
| Q1 24 | -8.0% | 4.3% |
| Q4 25 | $-0.11 | $0.02 | ||
| Q3 25 | $-0.03 | $0.08 | ||
| Q2 25 | $-0.10 | $1.23 | ||
| Q1 25 | $0.00 | $0.09 | ||
| Q4 24 | $-0.03 | $0.14 | ||
| Q3 24 | $-0.09 | $-0.01 | ||
| Q2 24 | $-0.15 | $0.02 | ||
| Q1 24 | $-0.08 | $0.04 |
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 | $825.9M |
| Stockholders' EquityBook value | $39.4M | $1.8B |
| Total Assets | $308.8M | $2.8B |
| Debt / EquityLower = less leverage | 3.99× | 0.46× |
8-quarter trend — quarters aligned by calendar period.
| 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 24 | $265.2M | — |
| Q4 25 | $157.0M | $825.9M | ||
| Q3 25 | $157.3M | $764.6M | ||
| Q2 25 | $157.5M | $746.3M | ||
| Q1 25 | $157.8M | $740.7M | ||
| Q4 24 | $216.5M | $740.4M | ||
| Q3 24 | — | $740.1M | ||
| Q2 24 | $340.9M | $812.2M | ||
| Q1 24 | $340.5M | $827.5M |
| Q4 25 | $39.4M | $1.8B | ||
| Q3 25 | $42.8M | $1.8B | ||
| Q2 25 | $38.8M | $1.8B | ||
| Q1 25 | $38.1M | $1.7B | ||
| Q4 24 | $33.4M | $1.8B | ||
| Q3 24 | $29.0M | $1.8B | ||
| Q2 24 | $26.1M | $1.5B | ||
| Q1 24 | $26.9M | $1.5B |
| Q4 25 | $308.8M | $2.8B | ||
| Q3 25 | $309.5M | $2.7B | ||
| Q2 25 | $302.5M | $2.7B | ||
| Q1 25 | $286.3M | $2.6B | ||
| Q4 24 | $340.3M | $2.6B | ||
| Q3 24 | $335.1M | $2.6B | ||
| Q2 24 | $452.5M | $2.5B | ||
| Q1 24 | $442.5M | $2.5B |
| Q4 25 | 3.99× | 0.46× | ||
| Q3 25 | 3.67× | 0.42× | ||
| Q2 25 | 4.06× | 0.41× | ||
| Q1 25 | 4.14× | 0.42× | ||
| Q4 24 | 6.49× | 0.42× | ||
| Q3 24 | — | 0.42× | ||
| Q2 24 | 13.06× | 0.53× | ||
| Q1 24 | 12.65× | 0.53× |
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 | $155.4M |
| Free Cash FlowOCF − Capex | $-2.2M | $110.9M |
| FCF MarginFCF / Revenue | -2.4% | 143.3% |
| Capex IntensityCapex / Revenue | 3.5% | 57.5% |
| Cash ConversionOCF / Net Profit | — | 58.41× |
| TTM Free Cash FlowTrailing 4 quarters | $16.9M | $193.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $980.0K | $155.4M | ||
| Q3 25 | $10.6M | $43.8M | ||
| Q2 25 | $13.6M | $48.7M | ||
| Q1 25 | $401.0K | $20.2M | ||
| Q4 24 | $12.4M | $136.9M | ||
| Q3 24 | $5.6M | $38.4M | ||
| Q2 24 | $11.7M | $46.7M | ||
| Q1 24 | $-3.4M | $14.8M |
| Q4 25 | $-2.2M | $110.9M | ||
| Q3 25 | $7.6M | $31.4M | ||
| Q2 25 | $11.9M | $38.0M | ||
| Q1 25 | $-424.0K | $12.8M | ||
| Q4 24 | $11.6M | $100.8M | ||
| Q3 24 | $4.5M | $29.3M | ||
| Q2 24 | $10.7M | $37.2M | ||
| Q1 24 | $-4.2M | $7.7M |
| Q4 25 | -2.4% | 143.3% | ||
| Q3 25 | 8.8% | 42.2% | ||
| Q2 25 | 14.1% | 51.6% | ||
| Q1 25 | -0.5% | 17.4% | ||
| Q4 24 | 13.3% | 141.5% | ||
| Q3 24 | 5.4% | 42.8% | ||
| Q2 24 | 13.0% | 55.2% | ||
| Q1 24 | -5.3% | 11.5% |
| Q4 25 | 3.5% | 57.5% | ||
| Q3 25 | 3.4% | 16.7% | ||
| Q2 25 | 2.0% | 14.6% | ||
| Q1 25 | 1.0% | 10.0% | ||
| Q4 24 | 0.9% | 50.7% | ||
| Q3 24 | 1.3% | 13.3% | ||
| Q2 24 | 1.3% | 14.0% | ||
| Q1 24 | 1.0% | 10.6% |
| Q4 25 | — | 58.41× | ||
| Q3 25 | — | 7.27× | ||
| Q2 25 | — | 0.51× | ||
| Q1 25 | — | 2.97× | ||
| Q4 24 | — | 13.97× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 31.15× | ||
| Q1 24 | — | 5.10× |
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% |
IVT
Segment breakdown not available.
